Hi................,
It is usually necessary to sell one's home in order to afford a new home. Most people do so when relocating. However, some people choose to rent out their homes instead especially if they plan to return. In some cases, people know that they'll be back in a year or two - possibly when they complete a graduate degree or finish a specific project at work. There are also times when a would-be seller wants to hang on until the market picks up in order to sell at a price deemed acceptable. A more likely scenario lately, however, is that the owner wants to maximize his or her gains and is inclined to hang on while property values continue to soar. Others, like Miller, don't feel confident in changing jobs and want to keep their old home until they're certain they won't be coming back.
Whatever the reason, there are important financial issues at play when weighing this decision and it's helpful to have a clear idea what issues come into play.