Smart Income: Why I’m Rethinking Selling My Home

I’ve written a couple posts on the downside of being a homeowner. But an old friend on Facebook commented on a thread about selling. He said, “Dan, you should never sell your house.” Here’s why: It can create a smart income.

Photo by Deccio Creative

My younger brother owned a few properties and was a landlord for several years. He usually lost money and dealt with crappy tenants. But he also didn’t own in the right kind of neighborhood. It didn’t seem like smart income. I swore I’d never want to rent out a house.

But an old high-school buddy convinced me otherwise in a few short comments on Facebook.

Keeping My House Will Create Smart Income

I don’t know the future. But I do know that I’d like to relocate to a warmer climate as I get closer to retirement age. As long as I’m living and working in Yakima, Washington, I’ll probably continue living in my home. It makes good financial sense

But if I move, I’ll likely keep it, too. It’s simple math. I can create a smart income.

  • Mortgage: $1050
  • Rental Price: $1300-$1400
  • Property management: $130-$140

If I keep my home and rent it out, it’ll pay the mortgage and I’ll make about $100-$200 per month. And I won’t have to deal with the renters. I can hire a property management company to deal with that.

But It Gets Even Better!

By the time I reach retirement age, the house will be more than half paid off. I could easily pay the rest off with a small chunk of my retirement. Or I could refinance and cut my payments in half.

That means I’d make $600-$1200 a month by renting my house out. It’s in a perfect neighborhood for a rental, too. That’s smart income.  

Meanwhile, I could move to a warmer climate and buy another, much smaller house or condo with my retirement income. I’d have no house payment while making an income from my rental.

A House Is A Good Investment

Even though a house might seem like a pain in the butt when shit happens, it can pay off in the long run. 

If you’re considering buying or selling a home, don’t overlook the value of your home as a future investment property

You can create a smart income and still have the freedom to move about.

Note: Since the original writing of this post I did sell my home and eliminated all debt.

For more tips on simple living, I have a gift for you. Don’t feel obliged to accept, but I think it will help you on your journey. It’s a free ebook:

The Happiness Of Simple


Dan Erickson

Dan Erikson is the passionate voice behind Hip Diggs, where he explores the art of living simply and intentionally. With a keen eye for minimalism and its profound impact on our lives, Dan delves into topics ranging from decluttering spaces to decluttering the mind. Drawing from personal experiences and a deep appreciation for the minimalist ethos, he offers readers practical insights and actionable steps to embrace a more meaningful, clutter-free life. When he's not penning down his thoughts on Hip Diggs, Dan enjoys the serenity of nature, reading, and exploring the nuances of simple living in a complex world.

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