Trying To Sell Your Vacant Home? 2 Things To Consider Before Renting It Out

If you just moved out of your house into a brand new home and have not yet sold your first house, you may wonder whether or not you should rent it out until you find a buyer. This can solve cash flow problems, but will it make it harder to sell this home? It's hard to say if this would be a good idea or not, but here are two important things to consider as you make this decision.

 Occupied home vs. unoccupied home

The first thing to look at is how having a tenant would affect the ability to show the home to prospective buyers, as well as the effects this would have. Real estate agents say that selling a vacant home is harder than selling an occupied home, and this is often because it can be hard for people to envision living in a home that has nothing in it.

The problem is that if you have people living in the house, you have no control over the condition of the home. They may not be the neatest people around, and this could cause negative effects on the showings.

On the other hand, if a home is vacant, you could always add furniture and decorations to the house to make it look more like a home. This does often help a vacant home sell faster, but it would require some work and money.

Cash flow vs. no cash flow

The second important factor to consider is how this decision would affect you financially. If there is a way you can get by without having a tenant, it might be better to keep the house vacant. Having a vacant house would make it easier to schedule showings, and you would never have to worry about whether the house is clean enough for people to see it.

The downside with not having a tenant is that it could put you in a financial bind. Having someone rent your house while it is vacant is a great way to pay the mortgage on the house, as well as all the utility payments. If you do decide to rent it out, you may want to be extremely selective when choosing your tenant. You may also want to add details to the lease that explain the tenant's responsibilities relating to showings and cleanliness of the home.

If you would like to learn more about property rental contact a real estate agent. He or she could answer your questions and help you find a good tenant for your house.