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Should You Sell or Rent Your Townhouse in Athens?

Should You Sell or Rent Your Townhouse in Athens_It’s definitely a dilemma and sometimes a tough one to resolve. Should you sell or rent your townhouse in Athens?

There is, of course, no one best across-the-board answer for every townhouse owner and every situation. Everyone’s situation, requirements, and expectations are unique. So we offer below some questions you can ask yourself to determine what’s best for you.

Should You Sell or Rent Your Townhouse in Athens?

Will it produce cash flow?

The first step in answering “Should you sell or rent your townhouse in Athens?” is listening to what the math tells you. If you’re considering renting, you absolutely must determine whether the property will produce a positive cash flow.

After you deduct all the monthly expenses from the rental payments, will there be money left over? Be sure to take into account all the expenses – utilities, mortgage payments, taxes, insurance, management costs, vacancy costs, repairs, HOA dues, and any others. If, after doing this math, you see that you’ll realize only a very small profit or could be facing a loss, then selling is probably your better option.

Will I get a return on my investment?

Next, you need to consider return on investment (ROI). If you choose to sell your townhouse, you’ll lose about 10% right off the top of the sale price to closing costs, agent fees, and other sales expenses.Then you have to consider whether the property has appreciated and the health of the current market to determine whether you’ll make over and above the original sale price. If it turns out you’ll make very little, it might be better to hold on to the property and rent it for a time, especially if this could provide a decent cash flow.

Am I prepared to deal with tenants?

In trying to find the best answer to the question “Should you sell or rent your townhouse in Athens?” you need to be brutally honest about your preparedness and willingness to be a landlord. Dealing with tenants can be, to put it mildly, unpleasant at times.

Some tenants are a delight to deal with while others – no matter how well you vet them beforehand – require a lot of time, patience, and persistence. And still, others sometimes trash the place they rent, which will require you to make the repairs.

You, can, however, learn the skill of being a landlord over time if you’re willing to put in the effort. If you don’t want to do that but still want to rent, you could hire a professional property management company. It will cost you some, but it will considerably reduce the stress of being a rental property owner.

But if these options don’t appeal to you, then selling might be your best bet.

What are the current market conditions and long-term outlook?

A primary consideration is the current market and the long-term outlook for the area where your property is located. You’ll need to look into the demand for similar rental properties in the immediate area. You will also need to determine the value of comparable properties (if you intend to sell) and the average rental rates for comparable properties (if you want to rent).

You will also need to check into the movement of property values. Are they improving or declining? If property values are going up, you might want to hang on to your townhouse and rent it in order to give it time to appreciate. If values are declining, you might want to sell while you can still make a profit and before the market declines below that point.

So, should you sell or rent your townhouse in Athens? Hopefully, these questions will help you arrive at the best answer for your unique situation.


Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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