Many homeowners eventually reach a point where their first home no longer fits their needs—whether it’s due to a growing family, lifestyle changes, or a shift in career or location. If you’ve outgrown your starter home, you’re likely facing one big question: Should you rent it out or sell it?

At Great Move Realty, we know this decision isn’t one-size-fits-all. Our Principal Broker, Mike Love, recently shared insights in a video exploring the financial and lifestyle considerations behind both options. Below is a summary of what to think about before making your move.

Selling: Unlock Equity and Simplify the Transition

Selling your home allows you to tap into the equity you’ve built—often providing a significant amount of capital for your next property. With home values still high in many markets, sellers may walk away with substantial funds to use as a larger down payment, reduce future mortgage debt, or invest elsewhere.

Key advantages of selling:

• Immediate access to equity

• No ongoing landlord responsibilities

• A cleaner, simpler move to your next home

If your financial goal is to upgrade quickly or reduce debt, selling may offer the clearest path forward.

Renting: Build Long-Term Wealth

Turning your first home into a rental property can be a smart wealth-building strategy. It provides monthly cash flow, potential tax benefits, and property appreciation over time.

Benefits of renting include:

• Passive income (especially with a property manager)

• Continued equity growth

• Diversification of investment portfolio

However, it’s important to factor in the reality of being a landlord—maintenance, tenant turnover, legal responsibilities, and possible vacancies. If the rental income doesn’t comfortably cover the mortgage, management fees, and expenses, renting might not be the best financial move.

There’s No Universal Answer—Only the Right One for You

The choice between renting and selling comes down to your personal goals, risk tolerance, and financial situation. Are you looking to simplify, or are you ready to become an investor? Do the numbers make sense for long-term rental income? Or does it feel right to take your equity and move on?

At Great Move Realty, we help clients make informed, confident decisions based on their unique needs—not generic advice.

Ready to Talk It Through?

Let’s figure out your next move together. Contact us today or watch the full video for more in-depth insights from Principal Broker Mike Love.

Your home. Our priority.