Should You Sell Your Home or Keep It?

Before you list your home, consider the benefits of renting it out to build long-term wealth and secure passive income.

Before you put your home on the market, there is one question you need to ask yourself: “Should I keep this house instead of selling it?” It may sound simple, but this single question could completely change your financial future. I learned that the hard way.

Years ago, I sold my first home without thinking about what it could become. I never considered that it could generate a steady income, grow in value, and secure my future. That one choice cost me years of potential wealth.

Many homeowners assume they must sell their current home to buy the next one. In reality, keeping it as a rental can be one of the smartest moves you make. A well-managed rental property can pay for itself, add to your net worth, and create long-term financial security. When you have tenants, they help pay down your mortgage. Over time, the home’s value rises, and your equity grows.

"Real estate is one of the few investments where someone else helps you build wealth."

Here are three things to consider before selling:

1. Do you want real estate in your portfolio? Rental properties can provide monthly cash flow and long-term growth. They are not as scary as they sound. With the right plan, you can avoid common problems like repairs or bad tenants.

2. Can you afford a new home while keeping the other? Many people don’t know that rental income can count toward qualifying for your new mortgage.

3. Do you understand how rentals work? You can manage the property yourself or hire a property manager. Either way, you can set up systems to make it simple.

Real estate is one of the few investments where someone else helps you build wealth. As your mortgage balance drops and your property value rises, your net worth grows. Holding a home for the long term can provide both financial stability and ongoing income.

Make your choice with the facts. Before deciding to sell, run the numbers and weigh the benefits of keeping your home. The decision doesn’t have to be yes, but it should be informed. If you want help evaluating your options, we can guide you through every step. Contact us at (615) 315-9223 or visit www.fykesrealtygroup.com so we can decide on the best course of action for your future.