For the past few weeks we’ve been debating what to do with the house we still own in Missouri. I’m naturally indecisive, and this choice has been unusually difficult — some days we lean toward selling, other days toward renting.
There are several reasons we’re torn. Below I outline the main factors that keep pulling us in different directions as we decide whether to rent or sell our house.
We’ve started to love the house again
After doing a number of improvements, we’ve slowly fallen back in love with the place. While sentiment alone isn’t a valid financial reason to keep a property, the work we’ve put into it makes the idea of selling feel harder.
Recent updates include:
- Professional painting throughout the entire house — walls, trim, and doors — which refreshed the overall look.
- Upgrading a light fixture to a nicer option.
- Adjusting curtain rods to make the windows appear larger.
- Buying and installing new curtains.
- Deep-cleaning the entire home.
- Replacing a broken garage door with an attractive carriage-style door.
- Installing a new back door after the previous frame was cracked during an accidental lockout.
All of these improvements have made us question whether selling is the right move. We know that, logically, selling would simplify our lives, but seeing the house looking so much better makes letting it go more painful. That emotional pull is common when preparing a home for sale, but it still complicates the decision.
The neighborhood’s value has declined
Over the past year the neighborhood’s home values have dropped noticeably. Our realtor has warned us that, once commissions and closing costs are taken into account, we might only break even or could even owe money after a sale. That prospect weighs heavily on the selling option.
There is also risk in waiting: values could fall further. It seems the sharp decline has slowed, but the market is unpredictable, so holding the property in hopes of a rebound is not without danger.
We could convert the house into a rental
One viable alternative is to keep the property and rent it out. Doing so would let us retain the asset in case values recover while potentially covering mortgage payments with rental income.
We’re considering both long-term and short-term rental options. A long-term lease would likely require less ongoing effort and could reliably cover the mortgage. A short-term approach — listing the home on platforms like Airbnb, VRBO, or HomeAway — could generate higher income but requires more management and turnover handling. Short-term rentals would also keep the home available for our own occasional stays; we know we’ll need to be in the St. Louis area several times this year.
Renting would require time and effort
Keeping the house as a rental would take work: handling tenant needs, maintenance, property management, and the administrative side of being a landlord. If we hire a property manager those costs would reduce our net income, but would also minimize our day-to-day involvement.
At the moment we lean toward selling, mostly because owning a second property distracts from our plans and carries responsibilities we don’t want to manage indefinitely. That said, if the house lingers on the market for a long time, renting it out could become more attractive as a way to bridge a down market.
Ultimately, part of our struggle is emotional attachment — it was our first home — and the practical considerations of market value, ongoing effort, and financial risk. If you were in our position, would you rent or sell?