¿Is it better to sell or rent a house? There is no conclusive answer to this question, since it will depend on the circumstances and needs of each one. However, through these lines you will be able to assess the advantages and disadvantages of both alternatives,
pros and cons of selling
Pros
- Large profits: If the area in which your home is located has appreciated over time and you choose a time when real estate is on the rise, you will not only be able to recover the investment, but you will obtain very large benefits.
- You do not worry: especially if the house is inherited and you are several owners, since renting it in such a case is not profitable at all.
- Tax advantages: if you meet certain requirements, such as the property for sale being your residence and the money you are going to use to purchase another home, you will be exempt from paying taxes on the profits.
Cons
- You lose assets: you will no longer be able to obtain profits in the future.
- The Treasury takes a good cut: if the sale results in an increase in your assets (if you are not going to reinvest), the Treasury takes up to 21% of the profits.
- If you have a mortgage and you cancel it: if the house has a mortgage and you decide to cancel it, the expense can be substantial.
Pros and cons of renting
Pros
- You preserve the heritage and you get a constant benefit from it.
- The rental process is simpler than the sale process.
- Time to revalue the house.
Cons
- Varied expenses, such as the community, the IBI, arrangements...
- Payment of taxes derived from the rental.
- Delinquent tenants.
“¿Is it better to sell or rentr?” or “I don't know whether to sell my home” are questions that many owners ask themselves. If you decide to rent, Youhomey will take care of everything, from the processing to the relevant housing arrangements. doWhy is it better to rent?? Contact us!
