By: Jerika P – i-Lead Realty Social Media Manager
When you decide to sell your house, the decision may be fraught with complicated emotions. After all, your house may represent years – or even a lifetime – of your hard work. But selling your house can also lead to astonishing financial rewards, especially when you choose to rent for the unforeseeable future. Here are several major benefits of renting instead of immediately purchasing a new home after selling your house.
1. The money you saved can be used for other purposes
If you choose, you can turn your profits into a source of supplemental monthly income or a nest egg for future needs. Alternatively, you can use that money to further your investment portfolio or use it to start a business of your own.
2. You are now free of mortgage payments
You may opt to use some of the money you just received to live inn a nicer, more expensive place than you did when you owned your home while still paying much less than you did in mortgage payments. Also, when renting, multiple deposits, mortgage application fees, and inspection fees are no longer necessary.
3. You can use some of the money for travel
If you love to travel, you can use some of the money you earned to fund great trips of a lifetime. Perhaps you will be able to visit places around the world that had been only a dream for years. Being a renter increases this kind of financial freedom.
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