Why Renting May Be a Good Idea
- Has your house been on the market more than 130 days?
- Do you feel the offers you are getting on your home are too low or would require you to bring money to the table?
- Do you have a job offer in another city and need to cover your mortgage payment quickly?
- Do you need to make home repairs before your house goes on the market and would like to be able to take them as a tax deduction?
If you answered yes to any of these questions, consider the option of renting your home through Signature Real Estate. In today’s real estate market, there are many homes for sale and not enough buyers. But there are many people — particularly those moving to the area with a new job — who are looking for higher-end homes to rent.
The average home for sale is on the market approximately 130 days. At Signature, we typically will have a renter within your home within 30 to 60 days.
Benefits of renting your property include:
- Income. If there is money left over after the mortgage and related expenses are paid, you will receive income from your property.
- Appreciation. While it is not guaranteed, if you own a property in a stable area, the value will likely increase. And you may be able to sell the property for more later.
- Tax Advantages. Your rental income may be tax free if you do not receive net cash flow after expenses are deducted. This means that your mortgage is being paid down and you own more of the total value of the property (rather than just controlling it), but you do not pay taxes on the money that is doing this for you. In addition, any repairs or renovations you do on the home may be tax deductible. We recommend contacting your Tax Advisor for specifics on tax issues.
Relieve your stress by renting your home through Signature. Our goal is to help you realize the most from the investment of your home. Call us today at 336 293 7157.