Today we are talking about whether it’s a better idea to sell or rent your home in Huntsville, Alabama. If you’re paying attention to this blog, you are probably in a situation where you have to make this choice.
We are anticipating a rental market pickup from a couple of major manufacturing plants moving into the Huntsville area. Those are the Remington Firearms Plant and the Polaris Manufacturing Facility. Those are bringing thousands of manufacturing jobs here, and the plants will be up and running in 2017. The good jobs these plants provide will improve the tenant pool dramatically.
In Huntsville, we have been in a flat market for about six years, so if you bought your property in the last 10 years, you’ll probably have to bring a check to your closing. That’s going to be very painful and it’s a good reason not to sell right now. If you have no other choice but to sell, then it’s a tough reality. But if you’re able to, it will be worthwhile to keep the property and rent it out for a while. We can find a qualified tenant who pays rent on time and looks after the property. That would be worth considering because in a couple of years, you will probably have a good market in which to sell the property.
Employment is really what counts in a housing market. Things have been flat because of job cuts at the Department of Defense. Job growth is what we need to help the household formation rates. This raises prices, and there is a better future on the horizon.
Contact us at Independence Realty if you’d like to talk about your options. We can help you successfully rent out your property, and we can also advise you if you decide you’d rather sell.