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Rent vs. Sell – Considerations At Circl

Before you pull the trigger either way, consider your financial situation, the state of the housing market, and any state or local ordinances that affect your rights as a landlord.<br>Website:http://circlapp.com/

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Rent vs. Sell – Considerations At Circl

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  1. Rent vs. Sell – Considerations At Circl Before you pull the trigger either way, consider your financial situation, the state of the housing market, and any state or local ordinances that affect your rights as a landlord. http://circlapp.com/

  2. Sales Price and Capital Gains If you’re not satisfied with your current home value, renting out the house can provide some income while you wait for your home value to rise. If homes are appreciating rapidly in your area, it may be smart to wait.

  3. Tax on Rental Income Just like wages from a job or dividends from stock, you’re assessed income tax on any income you derive from your rental, at your ordinary tax rate. Thankfully, you can write off all the costs associated with renting the house.

  4. Equity The only way many homeowners can come up with a down payment for their next home is to cash out the equity they’ve put into the one that they already own. Can your family scrape up enough to put down 20% on your next home without selling your existing one? Consider this carefully before you decide to rent

  5. Expenses Hopefully you can keep your home rented most of the time and cover most or all of the mortgage payments. However, you should be prepared for a worst case scenario: paying double mortgages for your rental and your personal residence. Even without a tenant, you still incur some rental expenses including insurance, maintenance, advertising, legal, and accounting fees.

  6. Contact Us Address: 481 University Ave. Suite 703 Toronto ON. M5G 2E4 Canada (647)-560-4282 Telephone: (647)-560-4282 Email: we@circlapp.ca Join Us on Social @meetcirclapp www.facebook.com/meetcirclapp www.youtube.com/meetcirclapp Website: http://circlapp.com/

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