Should I Sell or Keep My Paid-Off House?
If you're wondering whether to sell, keep, or rent out your paid-off home, HomeLight has the expert opinions you need to make a decision.
So you’ve paid your mortgage in full. Congratulations! You might be wondering whether now is the right time to sell a paid off house or to keep it longer.
Depending on your situation and current needs, either could be the right choice for you. Maybe you want to downsize and save for retirement. Or maybe you’re considering keeping the house as an investment property. Each option has its pros and cons.
To help decipher them, Mikki Ramey, a top real estate agent in South Carolina, and Richard Helali, a mortgage lending expert, gave us some pointers.
“When it comes to this, it’s not that one choice is good or bad, but it’s really what that individual person is most interested in and most comfortable with,” Helali comments.
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How do you decide whether to sell or keep a paid-off house?
There are plenty of reasons why you might want to sell your paid-off home. The number one reason, and the most obvious, is that you want to move.
