The circumstances that put property owners in this situation are many and varied. Without going any further, it may be the case of a couple who, after ending their relationship, are not very clear about what to do with the home that they have shared until then and that they own. When they ask us this question in our real estate agency in Canmore Alberta, we try to show the pros and cons of the two options, something that we are going to tell you in this post.
Like the Galician’s: it depends.
It is clear that there is no valid answer to the question we are raising as it will depend, first of all, on the personal situation of each owner.
But apart from that, the demand in the real estate market at that time as well as the characteristics of the home are other factors that will weigh heavily when making such an important decision.
In any case, if you are an owner and you find yourself in a sea of doubts regarding a property, you should bear in mind that both options have their positive and negative aspects. The point is to put them on the table and weigh what suits you based on your situation and your needs.
Selling a home through a real estate agency in Canmore Alberta
This option can be very beneficial for you if these circumstances occur:
You need liquidity more or less immediately.
It is a good time to sell due to the existing demand and the value that your home reaches in the real estate market at that time.
You want to free yourself from the expenses and worries of owning a property.
On the other hand, selling a home also has its cons, something that, as we said, you will have to weigh to make the final decision:
It implies a loss of heritage, both to leave it to your heirs and in order to have an economic guarantee at any given time.
It will not be an immediate solution in the sense that the average time to sell a property is much higher than to rent it. Although it all depends on the moment and the type of home, it can take more than 1 year.
Renting a home through a real estate agency in Canmore Alberta
Likewise, we are going to review what is good and bad about choosing this option. As positive aspects:
You receive a fixed and constant income for a long period of time.
You keep your heritage in case you might need it in the future.
Renting a home is usually something quick, in a matter of weeks you can have your house rented and more if you leave it in the hands of a real estate agency in Canmore Alberta like ours.
The least good part of preferring to rent your home is that:
You still have to deal with the fixed costs of owning a home.
Going to a real estate agency like ours, in which we carry out an exhaustive selection of tenants and we have the Unlink T service for owners, most likely you will not have any problem but that possibility is always there: from suffering damages in your house to face unpaid rent.
With all this, what we want to tell you is that there is no good option and that everything depends on the circumstances and needs that you have as an owner, the situation of the real estate market, and the home itself.
In any case, it is best to let yourself be advised by an expert team such as the one we from Yarmoloy Group. We will advise you to take into account our experience and our knowledge of the real estate market, in addition to helping you achieve your goal, whatever it may be.