Pensacola Realty Masters Blog
Realty Masters is happy to present the following Pensacola area community and Pensacola real estate information!
Listing with Realty Masters For Rent or Sale at the Same Time
No one knows what the future holds. We understand that better than anyone! You find your housing needs changing unexpectedly and you are toying with the idea of becoming a landlord and renting the house out. Not all landlords set out to become landlords, but life happens and you should look at your situation, weigh the options, and do what makes the most sense for you. We can help with that.
Are you unsure whether you should rent or sell your home? With Realty Masters, you can do both! As Pensacola's real estate investment specialist, we can help you sell or lease your Pensacola home without committing to one option until it's either rented or sold.
Here's how it works:
- A 90 day listing contract will be required to put your home on the Pensacola MLS Multiple Listing Service and syndication to multiple other internet sites to include Zillow, Trulia, Homes.com, etc. Don't worry, there is a $0 cancellation fee.
- We would require the home be listed for sale only for at least the first 30 days. If it's not sold, we will list it for rent or for sale, and if the home rents, the listing contract can be cancelled without penalty and the home withdrawn from the sales market. Luckily, average time on the market to sell your home is only 25 days as of 2022, and we feel confident we can get your home sold or rented fast!
To help you make your decision, we have some information that may be helpful regarding the pro's and con's of renting and selling your home!
Pro's of Renting Your Home
- Collect extra income on top of paying off your debt (so long as the rental rate is more than your mortgage and expenses! We hope that is the case for you!)
- Own a home while someone else pays off your mortgage
- Home value appreciation over long term
- No utilities costs once occupied
- Transfer some of your upkeep and minor maintenance duties to your tenant
Cons of Leasing your Home
- Potential unexpected expenses such as vacancy and damage
- Deffered maintenance costs will increase as tenants will not care for the home the way a homeowner does
- Routine maintenance expenses and capital improvements necessary to maintain the investment
- Continue to pay insurance and property tax, and property taxes will increase if you had a homestead exemption
Pro's of Selling your Home
- Largea mount of money received at once
- Can move money into another investment
- Casuhing out your appreciation and avoid any temporary changes in market value
- Avoid the cost of interest over the life of the loan
- No more property taxes, insurance, repair expenses
- Potential to avoid capital gains taxes (ask your accountant!)
Cons of Selling your Home
- One less asset gaining income on your portfolio
- Loss of rental income
- Miss out on future appreciation potential
- Potential capital gains taxes
- Paying out closing fees and closing costs
- Out of pocket repairs that may come up to get your home sold
- Typically takes a longer time to find a buyer and close than to find a renter and receive rent
There may be some drawbacks to this approach as it can scare away rents who don't want to have another property owner sell while they are leasing. It also may not allow enough time for a buyer to view and make an offer before it rents. Luckily, both markets are moving fast and we know we can get your home leased or sold!
Request a Market Analysis
In order to make any decisions on whether you should ultimately rent or sell your home, you must have a good market anaylsis of both the Rental Value and the Sales Value. To request a market anaylsis for both the sale and rental markets, give us some basic information here.
Are you cut out to be a Landlord?
Landlording can be a pleasant experience or sometimes a very stressful one. You may learn a thing or two along the way and making mistakes can be costly. Of course if you do not want to actually deal with your tenants yourselves, you can always hire a professional property management firm like Realty Masters of Florida to do the job for you.
- More information on being a Landlord
- More Information on Property Management Services
- Investor Resources
Whether your goal is to lease or sell your Pensacola area home, reach out to our team and let us know how we can help you accomplish your goals.
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