Zillow Advice: Buying Process - should I sell or rent my home http://www.zillow.com/advice-thread/should-I-sell-or-rent-my-home/512598/ Zillow Advice | Zillow Real Estate When your current home no ... http://www.zillow.com/advice-thread/should-I-sell-or-rent-my-home/512598/ <div class="article-overview"><p>When your current home no longer suits you, selling it is a popular option, but in some cases, turning it into a &nbsp;rental home&nbsp;makes more sense.<br/></p><div class="article-body"><p>There are lots of factors to consider when making the "sell vs. rent my home" decision,&nbsp;</p><ul><li style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-color: transparent;">Your financial situation.</li></ul><ul><li style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-color: transparent;">Local market conditions for rental homes.</li></ul><ul><li style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-color: transparent;">Your future housing plans.</li></ul><ul><li style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-color: transparent;">Your tolerance for being a landlord.</li></ul><ul><li style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-color: transparent;">State and federal income&nbsp;taxes.</li></ul><ul><li style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-color: transparent;">Current and future home prices.</li></ul><div><br/><strong>You're going to eventually sell your home, but not in the next two years.&nbsp;</strong><br/>To avoid capital gains taxes, you generally have to live in your house in three of the past five years. You can rent your house for two years and as long as you sell before year three, you typically won't owe capital gains.&nbsp;<br/><br/>When renting makes sense financially, you have to ask yourself: Are you ready to be a landlord and all that it comes with?&nbsp;<br/><br/>Sit down with a financial advisor and way out the pros and cons.<br/><br/>Good luck in your home selling or renting &nbsp;adventure!<br/><br/><br/><br/><br/></div></div></div> Mon, 23 Sep 2013 23:11:00 GMT http://www.zillow.com/advice-thread/should-I-sell-or-rent-my-home/512598/ 2013-09-23T23:11:00Z