Deciding whether to sell your home or rent it out when you're ready to move is a big decision. Should you sell and use the funds for your next venture, or keep it as a rental to build long-term wealth? Top realtors in Cookeville, TN can help guide you through this important choice, offering insights into both the local market and your personal situation.

Key Questions to Consider:

Is Your Home Suitable for Renting?
Even if you're thinking about becoming a landlord, your home may not be the best fit for renting. For instance, if you're relocating far away, managing maintenance could be difficult. Plus, if your neighborhood isn't ideal for renters or your home needs major repairs, selling might be the better option. Realtors in Cookeville, TN can help assess your property's rental potential.

Are You Ready for Landlord Responsibilities?
Renting out a property involves more than collecting rent—it requires time, effort, and patience. You could face midnight maintenance calls or tenants breaking leases early. Talking to other landlords and performing a cost analysis is crucial before deciding to rent out your home. Real estate agents in Cookeville, TN can offer valuable advice on whether being a landlord suits your lifestyle.

Do You Understand the Costs?
Renting can provide extra income, but there are costs to plan for, such as:

  • Mortgage and property taxes

  • Landlord insurance (which is pricier than homeowner insurance)

  • Maintenance and repairs (typically 1% of the home’s value annually)

  • Advertising and background checks for tenants

  • Property management fees, if you hire someone to manage it for you

Bottom Line:

Whether you’re considering selling or renting, it’s a personal decision based on your unique circumstances. Consulting with Cookeville, TN realtors will give you expert guidance as you weigh the pros and cons. Whether you're exploring homes for sale in Cookeville, TN, new homes for sale in Cookeville, TN, or need advice on renting, real estate agents in Cookeville, TN can help you make the best choice for your future.