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At some point, nearly every homeowner starts thinking about selling their home. Whether there’s a big life change on the horizon, you’re looking to resize your living space, or simply looking for something new, selling your home is a big step – and one that should never be taken lightly.
If you ask the experts at Knox, we’ll always advocate for keeping your home and converting it into an income-producing property. After all, why go through the troubles of selling your home when you can keep it as a passive source of wealth generation, instead?
Here are 6 key reasons why you should ditch the thoughts of selling your home and turn it into a market-beating investment, instead:
Save Yourself the Stress of a Sale
Selling a home is far from easy. Selling a property is a long-term endeavor that requires not only time and energy but also a substantial financial investment.
The realities of selling a home include balancing the losses of the process with the gains of the closing sale. At the end of the day, what most people walk away from a sale with doesn’t compare to how much they would generate overtime if they kept their property and rented it out, instead.
From a financial standpoint, it’s not difficult to see why it’s more strategic to keep your home as an investment rather than to sell it.
Tax Deduction Benefits
When you convert a home from your primary residence into a rental property, you’ll gain access to a slew of tax benefits. Owners of investment properties can make multiple deductions – which even further enhances the financial benefits of this income stream. Utility bills, repairs, maintenance, insurance, and more can all be deducted from your annual taxes.
Create More Streams of Wealth
The equation is clear: the more avenues of income you have, the more wealth you’re creating. When you own an income property, you’ll always be able to rely on that passive stream of income funneling into your bank account. And, when you work with Knox, it’s that easy. Your investment grows before your eyes – and your bank accounts will, too.
Since Knox only ever charges a fixed percentage of the rent collected, and never tacks on any additional charges whatsoever, the gains aren’t being undercut by management fees or unexpected bills. It’s money you can depend on – no surprises.
Lock-In Long-Term Income
People will always need a place to call home. This basic fact makes the long-term residential rental industry a thriving business to be involved in. When you rent out your home with Knox, you can depend on a long-lasting point of revenue. Even when the market ebbs and flows, rental property investments provide a strong foundation for continued financial growth.
Investing with Knox is a safe way to lock in financial gains for years to come. Not only does this benefit you as in the face of life’s biggest changes – such as expanding your family, moving, or retiring – but it also builds stable wealth that lasts for generations.
Real estate investing has always been prized for its resilience, and with Knox’s frictionless approach to homeownership, you can even pass the investment on to your family members.
Continue Building Equity
When you sell your home, you’re throwing away all of the equity you’ve been collecting for years. With Knox, you can continue bolstering your property’s equity even while you rent it out.
And, if you do choose to sell down the line, it’s still worth the wait. When it comes to property sales, patience is a strategy. Property values are known to slowly grow over time, and when your sale’s profitability is largely based on market conditions, biding your time with Knox’s frictionless homeownership system can increase the sale’s eventual cash-out by substantial amounts.
It’s Easier than Ever with Knox
If you’re impressed by these potential benefits of owning an income-producing rental property, you’ll be even more impressed with how Knox handles the process. Knox makes owning and operating a rental property streamlined, stress-free, and effortless.
When you work with Knox, we do all the hard work for you. Everything from bookkeeping to rent collection is handled by our experienced team of experts. All you need to do is sit back, relax, and reap the benefits of owning a profitable long-term investment.
Never sell your home – keep it and put it to work for you, instead. If you’re interested in learning more about Knox Financial’s approach to innovative homeownership, visit our website. Ready to discuss your details with one of our experienced professionals? Give us a call at 866-448-7608 – we’d love to talk investment strategies with you.