When it comes to renting or selling your property, it is not easy to know what to do. There are advantages in selling as well as in renting. So how do you tell which is best? We will help you, with a few tips, to clarify your judgment.
Selling your property: advantages
Selling a property in Tunisia is above all a response to a number of criteria that make the action truly beneficial for you.
A sale generally happens when you need a significant amount of money urgently, notably for major projects such as buying a new property or launching a capital-intensive venture. Note that if you sell your primary residence, you will not be taxed on the capital gain.
Your city may not be at the peak of its economic cycle. That can reduce the value of your home. In that case, it is clearly preferable to sell immediately if you are still hesitating.
Selling your property: disadvantages
The first disadvantage of selling is its irreversible nature. There is no going back once the sale promise is signed, except if you have a legitimate reason.
As a result, you will have to give up part of your assets. You will no longer be able to enjoy it as a residence.
Finally, as mentioned above, selling your home does not provide a sustainable source of income, unlike renting.
Renting your property: advantages
A lesser-known advantage of renting: reduced costs. Buying and then selling a house involves many additional fees. Typically, when you buy your home, registration fees are imposed, ranging from 6% to 9% of the property price depending on its type. On top of that, mortgage and file fees are added. If you sell through an agency, an additional 2% to 5% may be deducted as fees. Ultimately, your profits on resale are reduced.
Renting offers much more flexibility in this regard. Renting your property can provide an additional source of income, helping to ensure a more comfortable retirement.
Finally, renting can serve as a “waiting period.” You can wait for real estate prices to rise again by renting for a certain period and then sell your home afterward.
Renting your property: disadvantages
Renting in Tunisia is also very time-consuming if you do it alone. Renting directly requires you to be diligent, know your tenant well, and take the risk of property damage.
Unpaid rent, property damage, your relationship with your tenant, etc.—things do not always go as planned on this side.