Should You Keep or Sell Your House? Use This Tool to Find Out in Minutes

Oct 15, 2024

Homeowners are torn between selling their houses or keeping them as rentals in today's market. A new tool helps analyze these decisions, comparing outcomes based on financial scenarios. Factors like low interest rates, rising home prices, and potential rental income are crucial. The discussion includes the impact of closing costs, cash flow analysis, and the long-term benefits of being a landlord. Emotional aspects are also considered, highlighting the trade-offs between financial freedom and the responsibilities of property management.

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ANECDOTE

Average Joe Example

Average Joe bought a house in 2019 for $258,000 and refinanced in 2021, extracting $52,000.
By 2024, the property was worth $412,000, demonstrating the "lock-in effect" caused by low interest rates.

ADVICE

The Lock-In Dilemma

Homeowners with low-interest mortgages face a dilemma: sell or keep their property?
Analyze your situation carefully, considering the potential long-term financial impacts of each decision.

ADVICE

Spreadsheet and Data Gathering

Use Scott's spreadsheet or watch the YouTube video for a detailed analysis.
Gather all necessary financial information about your property and mortgage.

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