The Brainerd Lakes Real Estate Blog

Helping make real estate dreams come true Explore Lake Property I don't want to give my home away is an oft repeated phrase as I discuss with prospective home sellers the current estimated market potential of their home. They sometimes follow that phrase up with-" well, we will just hold on to it then" or "we will rent it out". Sometimes sellers can lose track of why they wanted to sell in the first place. Waiting for a year isn't necessarily going to solve their problem. I always like to ask them what will change in a year? Do you think that tenants will leave the property in the condition it is presently? What will the cost of repairs be after a year of renting? Will you be subsidizing the rent, as it may not cover your current mortgage payment and other home expenses such as the taxes, insurance and maintenance. Will you be hiring a management company and are you available at all times to handle repairs and renter issues? What will prices an...