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Relocate to a new home and rent a former home for income
Relocate to a new home and rent a former home for income

This article describes relocating to a new home with the intent to rent your old primary residence.

Nancy Gates avatar
Written by Nancy Gates
Updated over a week ago

You have the ability to model purchasing a new primary residence and renting your old home for income in My Plan. We recommend the following steps:

1. My Plan > Home and Real Estate > Primary Residence: Select Rent. Enter zero dollars for the estimated rent because you are living in another property. Make sure to include your current zip code.

2. My Plan > Home and Real Estate: Select Future change to primary residence and add the relocation to the new home. Make sure to include the zip code of your new home.

3. My Plan > Home and Real Estate: Model your current home as Other owned real estate.

4. My Plan > Income > Passive Income: Add a passive income stream for the rent you hope to receive.

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