Rent or Sell Your Home
This is mainly for property owners who can’t make a decision on whether to sell or rent their property. Before you decide, there are a few things to take note of, let’s look at the points.
I’ve known a few people who stay somewhere else and owns a few other units of empty property, the reason behind this is because they are unwilling to rent it out to people because they are afraid that their tenants will not take care of the property well for them, from experience, they have rented their unit out before to only get their unit trashed and wrecked when the tenants hand over the keys back to the owners.
Which goes back to if you are living in the unit or not if you are and you have extra rooms, if you decide to rent it out, that is your call, because the rental paid by your tenant can help you reduce your monthly commitments. However, if you
do not live there but still leave the unit empty, then you either need to have really good cash flow or you’ll suffer from the expenses every month.
If you leave the unit empty for too long, the house won’t be in good shape as you won’t know if there is anything wrong with the unit if there are any defects in the house itself, some experts mentioned that the house won’t be in good feng
shui if you leave it vacant for too long.
It’ll be wise for investors who own more than 2 properties to rent out their unit, no matter if it’s a short-term commercial rental or a long term monthly rental, as it will eventually bring you more revenue rather than leaving your unit stagnant
without people living in it.
If you wish to sell your unit, make sure you check the market price around the area, if the price is increasing, it’ll be a bad choice for you to let go of your unit as the market will continue to grow, if you are not in a rush for money then keep
the unit first. However, if you are in a rush to sell your property, make sure to check the market value of the area and determine the rate of your property, if the market is selling a property like yours in the area for RM800,000, then it’ll be
wise if you could sell your property around that price as well, make sure you’ve done your calculations and see if you’ll be losing money or making money.
But if your area is selling at RM800,000 and you wish to release your unit above the market price, then you will have a hard time selling your unit, unless you can show the buyers that your unit is special or different when compared with the
other units in the area, in terms of your renovation, the design of your house, the things that you provide.
If the house you leave vacant for too long is giving you a lot of problems such as pests, termites, leakage, piping, damaged walls even when you’ve done everything to save it, then it’s time to sell your unit, with all that money spent to
fix and repair the place and it still doesn’t help you, then it’s a sign to release it.
At the end of the day, you make the decision whether to sell or to rent it out. Be sure to read up and do your research right before making the big decision. If you have any thoughts at all, leave your comment in the comment section! Good
This article was originally published by Property Queen.