Post # 32
@oracle: no..all of my siblings has their own houses and i also don’t want to sell it to my family members. I’d rather sell it to somebody I don’t know..My mom wants to take over but my mom already has her own house and she even needs help taking care of it and how can she have another property…
Post # 33
@winterbride1593: This @Wonderstruck: and this.
@ddsfam: It’s not any of your family’s business whether you keep or sell the house. Renting out can be a ton of stress, or you could get lucky and have great tenants. That $500 a month really isn’t extra income when you factor in maintenance and repairs that you would be required to have completed asap.
This is a decision that should be determined by you and your husband, if he’s not up for the required work and effort that goes into the rental house, and then it’s not fair to force this burden on him. And yes, it can very quickly become a burden.
Post # 34
After we moved to another state, I began renting my house in Texas. I’m not even there to do repairs and maintenance, and so far so good. I’ve visited a few times, and the house is in immaculate condition. I’ve had one thing break (the garage door opener motor) since I’ve been gone, and I just called around a few places, found the cheapest price, paid over the phone, and had the repairment go and install a new one.
So, it’s doable. I found my rentors on Craigslist, which some people would also warn you against. But I’ve used it in the past to rent a condo I used to own (never had a problem) and I used it this time and it’s working.
I AM extremely careful about who I rent to. I do not allow pets, of any kind, at all. I purposely avoid people with kids. I typically rent to unmarried singles, who have degrees and professional jobs. That’s just my own bias—but I’ve rented (in my condo and now my house) to 7 different people over a period of 3 years, and I haven’t had a bad apple yet.
I’ve had people give ME a bottle of wine after renting, I had one girl hire a professional cleaning crew when she moved out (they made it look brand new in there), and my current girls weeded the entire backyard and pruned the rose bushes without me even asking!
So for me…I say rent. Unless your house is old (mind is pretty new) things will break only very rarely. Two years of owning my house and the garage door opener is the only major thing to break, and that just cost me $300 to fix.
Post # 35
I think sometimes that the only people who get rich here are the landlords. DEF keep the house. The tax code is written to protect landlords, so you’ll probably make a good deal more than $500 a month. You can write off SO much.
We’re currently saving for our second home (my condo is paid off) and we plan to rent it out. It can be my “income” if I become a Stay-At-Home Mom etc. And where I live houses and condos still sell within 3 weeks if we need the cash desperately.
Post # 36
@BookGirrl: mine was built in 1956..but it does has a big yard..8000sf and i have a big gopher been destroying my yard and tress also…I tried to put it for rent on the craigslist but most families are with bunch of kids because my house is right infront of elementary school. I called managemnt property and they will lowered my rent to onl 1250$which is easier to rent it to anybody but i can get up to 1650$/month.I think its mostly depends on your luck finding good renters…I didnt find the right one in the past thats y i stopped and keep living here..May be i should try one more time before i actually decidie to sell…
Post # 37
@BuffaloDots: I won’t get any tax breaks because my interest payment is very low…So i didnt get anything in the past related to this house.