Is your dream job beckoning you to travel far away: selling or renting out a property?

Sell ​​in top condition or at a bargain price? Many owners wonder before selling their property whether a renovation shortly before the sale is still worthwhile or whether they should offer the house unrenovated with a price reduction.

Career advancement and house: Sell or rent?

A career move to another city or an attractive job offer abroad – such changes bring major adjustments and difficult decisions. For homeowners, the main question then becomes: what should happen to their home – sell or rent it out? Below, we examine both options with their respective advantages and disadvantages, so you can find the best solution for your personal situation.

New job, old home

When moving for work, there's often little time to think about the future of your home. Nevertheless, a well-considered decision is important, as it has long-term financial and personal consequences. Some homeowners keep their house as a safety net, while others consciously decide to sell to make a fresh start. Which path makes sense depends on your life situation, future plans, and the conditions of the real estate market in your current location.

Rental: Opportunities and Obligations

Renting out your property can be financially attractive: you retain ownership, receive rental income, and benefit from potential appreciation in value. For those considering returning or using the property as an investment, renting is a tempting option.

At the same time, renting out property involves effort and responsibility. You have to find reliable tenants, manage leases, organize maintenance, and deal with rent defaults or vacancies – often from a great distance. A property management company can help, but it incurs additional costs and doesn't relieve you of all your obligations. Anyone with limited time or money should carefully consider these factors.

Sale: Flexibility or Farewell

Selling is often simpler and provides quick planning security and liquidity. The proceeds can be used to pay off loans, cover moving costs, or finance a new home. A sale can be particularly financially attractive when property prices are high. Furthermore, all the hassle of renting is eliminated: no tenant search, no management, no risk.

However, the sale is final. A later return to your old home is not possible, and you will miss out on future increases in value. Many find the farewell emotionally difficult, as their home holds memories. On the other hand, drawing a clear line under the past can make a new beginning easier – personal attitude plays a significant role here.

There's no single right answer to which solution is ultimately the best – every situation is different. Do you need to relocate for work and are unsure what to do with your house? We'd be happy to analyze your situation with you and give you an honest assessment of whether renting or selling makes more sense in your case. Contact us – we offer a free consultation and, if desired, can handle the entire sales process for you.

UMZ_EIG_6

Notes

For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.

Photo: © Brett Jordan/Unsplash.com