Should I sell my house or rent it out?

Should I sell?

Here's my dilemma - I am moving to a new city, and can't decide whether to sell my house or rent it out whilst I'm away (longer than 12 months).

I've got quite a few debts that I could pay off with the proceeds of the sale, but my circumstances won't enable me to buy another property (if ever), so I'll have to rent somewhere myself. I will be left with a nice lump sum of money after everything is paid off, but it's nowhere near enough to buy another property even if I could.

If I rent my house out, the rental income will cover my mortgage payment and most (if not all) of the monthly rent on a property in the new city. I wouldn't be able to pay off all my debts in one go if I didn't sell the property, but I would be able to maintain usual payments etc.

Help! What would you guys do?

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