Thinking about selling your home this spring? Keep it and make $$$

For homeowners across the U.S. who are planning to move this spring, there has never been a better time to turn the home you’re moving out of into an investment property. 

With property values soaring and rental rates continuing to climb, what happens when you sell your home when you move? Someone else gets to realize the financial gains of the property. Timing is everything, and at Knox, we believe that more often than not, it’s never a good time to sell. 

Instead, if you decide to hold on to your home as an investment property, you could see fantastic returns from the rent you collect every month as well as the value appreciation of your home.

To illustrate this point, we crunched the numbers in three metro areas: Atlanta, Boston, and Dallas-Fort Worth.

Atlanta housing prices and rental rates

According to Fox 5 Atlanta and Atlanta Journal Constitution, both rents and housing prices are on the rise. 

In the last year, median home values in Atlanta rose 22%, standing at $355,000. This means that Atlanta homeowners increased their net worth by more than $75,000 on average!  At the same time, rents have increased by double digits. If you turn the home you’re moving out of into a rental, you could see fantastic wealth gains from the rising property value as well as the rental income your house generates every month.

Boston housing prices and rental rates

Much like in Atlanta, Boston’s housing market is booming. Median single family homes in the Boston area rose 10.5% over the last year to $750,000. At the same time, rents for one bedroom properties have increased by more than 20%. 

What does this mean for you? Investment property owners in Boston who have been renting out their one-bedrooms for $2,500 might be able to get as much as $3,000 for their next lease. Additionally, Boston area investment property owners have also increased their wealth by tens of thousands of dollars over the last year alone from their properties’ increased value. 

Dallas-Fort Worth housing prices and rental rates

Finally, the Dallas-Forth Worth area is a great market for owning an investment property. 

In the last year, median home values in DFW rose 20%, standing at $353,000. Similar to Atlanta and Boston, rents have increased by double digits. This housing market shows no signs of slowing down, and our clients in Dallas-Fort Worth have been very happy with their decision to turn the homes they’re moving out of into investment properties. 

Are you ready to take the next step? Start by determining if renting the home you’re moving out of is a smart financial investment. See if your home qualifies.