Downsizing, upsizing, looking for something new, just purchased a new house or any reason in between but you can’t sell your home? Why not consider renting? Thousands of people who move to different towns prefer to rent a home rather than looking at an apartment. There are several reasons for this. For one, many families want their children to live in a neighborhood type setting. Another reason, is because the family who moved from a house, wants the same setting and environment to settle into. Usually the renter looking for a house is sometimes the best tenant! They are used to the house setting and are used to upkeep, like mowing the grass or simple maintenance. Often continuing doing these tasks, even after moving into a rental home is just second nature.
From an economics stand point, renting your home just makes sense. Sometimes when people put a bid in on a new home it is continent on the sale of their present home. Well what if the current house doesn’t sell? Renting is a great alternative. Check with your lender, but in most cases if you have a signed lease in place you still qualify for your new mortgage and can close on your new home. Also, the entire time you have a renter paying your mortgage while you reap the benefits of added equity in the home with no expense.
Remember the benefits to renting your home and always consult your finacial insitution for clarification of your loan requirements and remember you can always list your home on LeaseFor.com for free.