keep current as rental and buy new house?
Hey guys so currently I am living in my home which is mortage free and I am considering purchasing a new house now. But before I commit to finding a new home I wanted to ask a question which is a very common dilemma faced by others too. When I find a home I want to purchase should I keep my current home and use the rental income to help pay off my mortgage for my new home, or sell my current house and go into a loan free house? The idea of having rental income sounds really appealing, however, I know it's not all sunshine, as having a rental property comes with its own associated hidden costs, insaurance, fees, etc. And on top of that if my property is damaged I'll usually be the one compensating the cost of repair. I would be pleased to hear any insights from anyone who has been in this postion and what do they reccomend or perhaps what they did!