Are you leaving Pittsburgh either by choice or due to a job transfer? No matter the reason for relocating, if you are currently a homeowner, one of the most important items on your To Do List prior to departing Pittsburgh is to determine what you wish to do with your house.
Your two basic options are either to sell your house or to continue owning it and use it as a rental property. Either scenario has its pros and cons.
RENT YOUR HOUSE
Are you ready to be a landlord? Whether you’ve been one before or this is the first time you’ve ventured into this area, there are a few things you need to consider.
The primary benefit of turning your home into a rental property is that it can generate income for you. However, this is only true if the rental income covers your mortgage, taxes, repairs and everything else associated with the home. If renting your house puts you in a perpetual “upside-down” financial situation, your property will soon become a monetary burden.
Given that you’re leaving Pittsburgh, the reality of being a landlord from afar can create its own headaches. Your property will continually require maintenance or home repairs of some kind or another and you will always be the first point-of-contact if your tenants aren’t happy for whatever reason.
Most out-of-town landlords choose to address this geographical challenge by getting a local property management company to oversee all matters related to their house. Aside from the fees involved though, few things will sour the landlord experience like hiring an incompetent property management company. The only thing worse? Renting your house to nightmare tenants. Check out our Blog Post from last week about Dealing with Bad Tenants.
SELL YOUR HOUSE
If you decide that converting your home into a rental property isn’t a viable option, your other choice is to sell your house. There are a few approaches to consider:
Sell Your House With A Realtor
The most logical benefit to selling your house through a realtor is that such an individual has plenty of experience selling homes. As such, you can choose to be as hands-on or hands-off as you desire in the selling process.
However, if you use a realtor, there is no guarantee your home will sell quickly or even sell at all. Also, since realtors strive for volume sales and work off commissions, their best interests might not be your best interests.
Using a realtor also isn’t cheap. Aside from the aforementioned commissions and other fees, such as closing costs that you will be responsible for, a realtor will likely recommend you make repairs to your house before you can even list it. This will involve dealing with contractors. Depending upon the extent of the repairs, this has the potential to be expensive. More than one seller has made repairs to their house prior to selling, in the hopes to recoup the money in the sale, only to be disappointed.
Sell Your House By Yourself
House For Sale By Owner. Ever seen those words on a sign on someone’s front yard? It is no easy task to properly list, market and sell a home. If you are confident in your knowledge of the Pittsburgh real estate market and in your ability to sell your home on your own, the more power to you. The obvious benefits to selling your home on your own is that you alone will determine everything from the price of the home to whether you wish to make repairs to the closing of the sale.
Aside from your likely inexperience in selling houses though, there is also the real possibility you will be unable to sell your home prior to leaving Pittsburgh. What do you do if you arrive at the date when you have to leave and you haven’t yet sold your house?
Consider Selling Your House To A Real Estate Investor
A real estate investor, like All Cash For Homes PGH, can give you a hassle-free selling experience and ensure you will sell your home in a timely manner.
Our process is simple. After you contact us, we’ll present you with a free, no-obligation offer. We’ll pay you with cash and will purchase your home as-is. You do not need to make any repairs. We’ll also close within 30 days with ZERO realtor commissions, closing costs or other fees charged to you.
If you’re leaving Pittsburgh and have made the decision to sell your house, getting a quote from All Cash For Homes PGH is simply an option to consider. It’s 100% up to you whether you accept or reject our offer. If you ultimately choose to go in another direction, that is your choice but a wise individual should at least be aware of all available options.