Over the past few weeks, we have been going back and forth about what we want to do with the home we currently own in Missouri.
I realize I say this all the time about everything in my life, but I am an extremely indecisive person.
This decision has been a difficult one so far, and we are still leaning either way depending on the day.
There are many reasons for why we are undecided about what to do next as well. So, what should I do? Should I rent or sell my house?
Below are some of the reasons for why we keep going back and forth about whether we should rent or sell our house:
We love our house again.
We’ve been fixing it up and have been slowly falling back in love with it. I know, this isn’t a good enough of a reason to keep a house and it seems like we are just coming up with excuses to keep it.
Some of the things we’ve done in the past few weeks include:
- The whole upstairs and downstairs have been completely professionally painted. Trim, walls, doors, etc. and it all looks so much better now.
- We’ve replaced a light fixture with something much nicer.
- We fixed all of the curtain rod placements to make the windows look bigger.
- We’ve bought new curtains.
- We’ve deep cleaned the whole house.
- We replaced the broken garage door with a nice carriage door.
- We replaced our back door with something nicer as the last one had a cracked door frame after someone got locked out of our home.
All of these improvements have made us wonder a little more about what we should do with our home. We know we should probably just get rid of it and sell it, but the fact that it looks so much better than before definitely hurts a little!
I realize this is normal though when someone goes through preparing a house to be put on the market.
Our neighborhood’s value has tanked.
I’m not sure what has happened, but our neighborhood’s value has tanked significantly over the past year.
Our realtor already told us that we most likely either breakeven or we will owe a little money after selling our home because of realtor fees and the lower value of our house, so this is playing a big factor into whether or not we want to put our house on the market at the moment.
There is risk with this though. Our home value could continue to plummet. I doubt that would happen as it seems like the plummeting has stopped, but you just never know.
We could turn our home into a rental.
One factor that’s throwing me in a loop about whether I should I rent or sell my house is that we could potentially rent it out for the time being.
We are debating renting out our home, either on a long-term or on a short-term basis. Renting would be great because we could see if our house increases in value over time, while hopefully earning enough money to still pay off our mortgage each month. Another positive of this is that we would have a home to return to if we decided down the line that the move was not right for us.
A long-term rental would be nice because we would earn enough to cover our rent with hopefully minimal work involved.
On the other hand, we could also do more research into renting out our home on a short-term basis on a website such as Airbnb, VRBO or Homeaway. This would also allow us to have a place to come back to since we know that we already have to be back in the St. Louis area at least four more times this year.
Having a rental would require work.
In the end, we will probably just sell our home. However, if it sits on the market for a long time then renting it out will probably become more appealing.
Keeping our home on the side most likely wouldn’t be worth it. We would mainly be keeping it for all of the wrong reasons, mainly just that we are attached to the first home we bought.
What would you do in our situation? Should I rent or sell my house?
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G says
It is an hard choiche, you could rent or sell, but you must to understand which is best solution for you, if you are going to came back in Missuri, rent it, and probably in the years house will have higher value,I know that you’ll do right choiche for you. Think about what is best deal for you and not for market!!!
Michelle S. says
Thanks G! 🙂
Nicole Dz says
I would say sell it for sure! It would be the best i think. I say keep positive thoughts and energy, and hope it sells pretty quickly, so you can avoid the rental option, my dad had a rental, and it was extra money for him, but i know he didn’t care to much for the extra work involved, he had it for a several years though before he sold it. Good luck to you in whatever choice you decide.
Michelle S. says
Thanks Nicole!
Sara @ Debt Camel says
I often see clients with debt problems who have kept a previous house because the price had fallen. My standard advice to anyone in this situation is only keep the house if:
A) the rent will be larger than your mortgage (and allow for your mortgage going up a couple of per cent if your mortgage rate isn’t fixed). PLUS any agents fees if you won’t be close enough to sort out any tenants problems yourself PLUS 10% to go into a fund for repairs PLUS another 10% to be put aside to cover any void periods.
and
B) you have several thousand dollars of accessible savings in case of real problems with your rental. If your tenant stops paying the rent, you may have to take legal action to evict them and for months you won’t get any rent. You will be unlucky if the tenant trashes the place, but your finances have to be good enough so this is highly annoying and not a disaster.
If it doesn’t sell quickly, drop the price. This is the worst of all reasons for keeping a property to let!
Michelle S. says
We can easily afford to keep the house on the side, and I guess that’s why we keep going back and forth with the decision.
Petrish @ Debt Free Martini says
I would rent for a while and see how you like it. It probably would work better if you hired an agency to take care of it. You can’t go wrong with real estate if you do it right. Nothing wrong with putting some extra income in your pocket.
Michelle S. says
We’ve decided to list it for now and see where that takes us. If it doesn’t sell or the prices keep dropping then we are going to most likely rent it out.
Mrs. Pop @ Planting Our Pennies says
When we hit FI and travel, we plan on renting out our home while we’re gone (for a couple of years at least, probably). For us, it’s not worth it to sell since it’s a great “base camp” and by then will be exactly the kind of home we want to live in forever, designed to our specifications.
But if you’re not planning on St Louis being your forever location, selling it now and not having to worry about the rental (especially short term – those are very work intensive!) is probably the easiest thing to do.
Michelle S. says
Yeah, we’re not sure if we will ever come back to St. Louis, so that is a big factor of ours for why we should just sell it.
diane @smartmoneysimplelife says
Unfortunately, when it’s your home you can’t just base your decision on nice neat numbers – there are emotions that sneak in there, too.
The big question is: how would you feel if you rented your ‘home’ and the tenants trashed it? Rentals are much easier to manage when they are just ‘houses’ and not your home.
I don’t envy you your choice. It’s a tough one.
Good luck!
Michelle S. says
Yeah that’s the thing, I don’t know of many people personally who have had good landlord situations in the St. Louis area – it always seems to go badly and I would definitely be sad!
Cherie says
Being a landlord can be a huge pain in the behind. And you’re going to be far away. I agree that the right solution would require enough rent to pay some sort of agent [even if it’s VRBO rentals] and should cover repairs as needed [everythings fine now? Great, what happens when the tenant lets it’s pet iguana do it’s thing all over the carpets?] and a very well referenced agent. Can’t find one? SELL
It’s hard to take that hit when you think there can be gold in holding on – but it just doesn’t pay if it’s going to give you gray hair
Michelle S. says
Yeah, I definitely don’t want too much added stress from it.
Tori says
Renting it out seems like opening a can of worms to me, especially if the tenants don’t pay or trash it. And being a long distance land lord, it’s hard to keep track of that. I would want a nice clean break and more freedom rather than take my chances. If you had moved out of state, would you borrow money to buy this home with the intention of renting it from another state? If not, it’s not worth it. Good luck!
Michelle S. says
Very true, but renting it out in hopes of the market going back up is something we keep thinking about.
Fervent Finance says
Wow that is a tough one. Never want to sell your house and actually lose money. But then again you’ll be very far away from your property which will lead to your own problems. I think you should rent it if you have a family member or friend who is very handy and wouldn’t mind answering the lessee’s calls about any issues with the house (you’d pay them of course). The house seems in good shape so I don’t think you’d have to pay them very much since the calls should be few and in between. I think this is the best option!
Michelle S. says
Thanks!
Robin @ The Thrifty Peach says
Renting is not for everyone, especially if you are going to be so far away from your house.
Michelle S. says
Yes, that’s what we are thinking.
Sarah says
Very hard decision!! It seems like you’re more leaning towards selling it, and I think you should go with your instinct. While renting can be a great income stream, it can also come with a huge headache!! We debated renting our house in AZ before moving to NC, but ultimately decided it would have been too hard to be a landlord from across the country. I do want to get into rental properties one day, but preferably they will be in the same state I’m residing in!
Best of luck, Michelle!!
Michelle S. says
Thanks Sarah!
Elroy says
Sell it. Don’t look at what could have been. It will be a PITA.
Michelle S. says
That’s what we are going to try to do 🙂
Will L. says
Dave Ramsey doesn’t recommend being a landlord to a house that’s more than easy driving distance away. He’s a bit controversial but I think his net worth (from real estate) was about $7 million before the age of 30. I like his real estate advice. You can always hire a management company like FIfighter does. All-in-all I don’t think having a physical property matches your free lifestyle very well! But from the few pics I’ve seen, your house does look really nice!
Michelle S. says
Well, we do want to eventually get into rental real estate. I’m just not sure we are ready to do it just yet.
Kristin says
My house has been rented out for the past year and a half, and it’s been fine! Housing still seems to be recovering in Orlando, so if I were to sell it I wouldn’t make any money. I am ok with holding onto it- it’s been low maintenance. I like the idea of someone else paying the mortgage on it! I invested in a home warranty that covers the cost if something were to break or need fixed.
Michelle S. says
This is great to hear 🙂
Emily @ Simple Cheap Mom says
This is a tough decision, especially since values have dropped. Seeing as you just fixed up your house, I’d probably try to sell and see how it goes. Managing a rental from afar is probably not something I’d take on right now myself.
Michelle S. says
Yeah, that’s what we are going to try for now. Wish us luck!
Hilary says
We’re in the same boat, considering selling our home that’s currently a rental. We got an updated appraisal on it and thanks to foreclosures in the neighborhood, the value has dropped by $42,000 in the last 4 years. I wasn’t really set on selling it until I realized that. At this point, we really just want to get out from under it!
Michelle S. says
That’s pretty much what happened to us 🙁
David says
Over here property is considered a no brainer investment. Prices have always tended to rise over time in the UK (with some shorter term corrections).
If you can find a good agent to manage it for you and you can obtain a rental income to cover the current mortgage plus some extra for maintenance, then it can be a brilliant investment for the long term. Essentially someone else is paying for it, and you get the benefit down the line.
If you can do the above, and have sufficient income to cover the mortgage plus your new rent in the times when it is empty then I would say to go for it, especially if you believe the market has hit bottom in your area. I understand the people who say that being a long distance landlord can be difficult, but that’s why you need to find that good agent.
I don’t know about in the US, but in the UK you need a special mortgage if you are renting the property (called a Buy to Let mortgage), rates are usually slightly higher than a ‘normal’ one. You also need landlord insurance etc. Flip side is that the maintenance can be offset against the income for tax. You need to find out if any of this is relevant to you but make sure you understand ALL of the potential plusses and minuses before making that decision.
On the flip side, if the rental is only barely going to cover the mortgage, then the safe bet is to get it sold.
It all gets more tricky if it sits empty for any length of time of course 🙂
Michelle S. says
Thanks for this. Lots to think about 🙂
Jayleen @ How Do The Jones Do It says
You have a tough choice ahead of you. It sounds as though you have gotten your house ready to sell with all of the work you’ve done. If it were me I would try to sell for a price that I wouldn’t lose money. If it doesn’t sell, then I would rent if the rent would cover all costs.
When we sold our duplex, a huge weight was lifted off our shoulders. No longer did we have to worry about two pieces of property. If the situation was right, we would own rental property again though.
Michelle S. says
Yeah, it’s definitely tough 🙁
Cindy says
We’re in kind of a similar situation! It’s definitely hard to sell my house now that it’s exactly the way I want it. Makes me sad that I couldn’t have done all this while I was actually living there! The home prices in my neighborhood were recovering, but now they’re starting to decrease a little again. The main reason being that most of what is listed/recently sold is foreclosures, or houses that need extensive work. It’s great for the neighborhood that things are being bought and fixed up, but it has a negative impact on current comps.
My decision has been that if I can at least come within a couple grand of breaking even, I’m going to sell. I could easily rent it out and wait to see if prices come back up, but any profit would basically go back into fixing the house up to sell again down the road. And I would be broken hearted to see someone destroy all the hard work I’ve put into the house!
Michelle S. says
Yes, I wish we would have made all of these changes awhile back!
Jessica says
I had the same issue when we moved from Kentucky to California. We actually didn’t have enough time to prepare our house to sell, so we went the rental route. A real estate broker we knew also offered property management services. They do all the work to find the renter, collect rent and take care of repairs. We pay them the first month’s rent and 10% all other months. We have had two good renters sign year long leases, but we also had someone sign a lease and then stop paying rent. That was a headache.
We continue to use the house as a rental as the market prices there are lower than when we bought it. We did put it on the market for an entire year after we had to evict the deadbeat renter and the only offer we received would have been a loss. At that time, we were stuck paying the utilities and the mortgage on the empty house. At least with a renter, we have the utilities paid and the mortgage pretty much covered. We’re hoping the market will rebound and if it does, we will reconsider the situation then.
In reality, as long as the property manager does due diligence on any potential renters you may be better off renting your home as opposed to taking a loss. If the market is slow you may be stuck paying the carrying costs for quite a long time and renters will help you recoup that. But there’s an emotional aspect as well and it may be worth it to take the (potential) loss and not have the headache of dealing with it or something back in Missouri weighing on your mind as you guys are starting your new life in Colorado. Whatever you decide to do, good luck!
Michelle S. says
Thanks Jessica! So much to think about.
Dan @ Our Big Fat Wallet says
For me once I made the decision to move on from the home I would then base my decision on numbers and whether it made sense financially rather than emotions. I can understand some people have emotional ties to a home but it won’t be relevant once the move is complete (for most people anyways).
When we bought our first home (a small condo) we bought at the peak of the market and when we bought a house 5 years later the value of the condo still had not recovered much so we rented it out. Turning the condo into a rental was an easy decision because I didn’t want to take a loss on the condo and I knew as a rental it would be in high demand. That was 3 years ago and the value has gone up a bit while the mortgage continues to go down every month. We may sell the condo in another 5-10 years depending on the market at that time. Turning our condo into a rental was a great decision because it saved us money when we moved and it basically doesn’t cost any extra money each month so it was almost a no brainer.
I’d say definitely consider renting out your house but of course I am biased 🙂
Michelle S. says
Yeah, it’s such a tough decision!
Linda Moffitt says
This is a touchy subject for me We just had to sell our house because of trashy neighbors that had moved next door and had a lawsuit with them & the city and so on I could talk for hours but you’d have to give me a call 😉 I cant type that much it hurts my fingers BUT I really REGRET selling my house (but i had no other options unless I wanted to rent and in my area that can spell trouble) but I really cry when I think about selling my house so if you LOVE your house like I did Don’t sell maybe get ahold of a rental company to rent it a little less $$$ but a lot better more reliable renters and you don’t have to deal with anything
Michelle S. says
Oh no! That really stinks Linda.
Sam says
I can see the struggle! The only thing I would be concerned about rental wise is being a long distance landlord, but you could always get a property management company to manage for you locally.
This is an interesting article pertaining to short term rentals: http://affordanything.com/2014/05/27/the-airbnb-experiment-how-much-did-i-make/
Michelle S. says
Yeah, a long distance landlord would be somewhat difficult, but we have thought about different plans that would work just fine. We plan on putting the house on the market first and seeing what happens.
Carly says
I agree with almost everyone in the comments! I’d say sell to have the separation. Keeping a rental house that is so far from your new home would be challenging. I’m all for cutting the cord and really starting your new adventure fresh and new!
Michelle S. says
I think that’s what we are going to try to do first 🙂
Mrs. Maroon says
It might be worth asking a management company for a market analysis of what they expect the could get in rent. Let the numbers tell you the answer. So very difficult, but try to take the emotions out of your financial decisions… In the end, you’re not the one that will be living in the house that you now have fallen back in love with. Sure you could return to it, but life changes very quickly. I wouldn’t bank on coming back to it.
Michelle S. says
Great idea!
Michelle says
Sometimes you need to let everything go as you move towards a new direction. I think that it is possible to be a long-distance landlord but I think you would need more time to set ups systems effectively. Also, I wonder if you would be able to really make enough in rent to make having a renter worth while? Just go for a hike and think about it.
Michelle S. says
I definitely think we could make enough in rent to cover our mortgage and still make extra money. It’s just the possibility of someone destroying the place that would suck.
Gen Y Finance Guy says
Well I think there are actually a lot of things to consider:
1) What are market rents in your area and will they cover the mortgage?
2) If you could get a renter in that covers the mortgage, they will also be amortizing the loan for you and thus building equity.
3) As you pointed out, it would allow you time to see the market move the other way and actually bring some appreciation. Historical real estate appreciation is in the 5-7% range annually.
4) This could be a longer term asset that could one day bring passive income to you.
5) Consider the tax implications. As a rental you will be able to deduct interest and property taxes against the rent collected. But also you will get the added benefit of depreciating the house of 27.5 years. This is huge because it could cause your “net income” and I use that liberally to be negative and flow through and offset income from other areas, thus saving you money (but check with your tax man).
6) Also as you pointed out, it gives you an out if you decide your move isn’t right for you.
Even after all of this you have to decide if you really want to be a landlord. For some people its not worth it. But others have built nice fortunes in real estate.
You could always try it out and see how it goes. And in the end you may decide to sell it anyway.
Cheers!
Michelle S. says
These are all great things to think about. Thanks!
Pamela Gurganus says
I do not envy you having to make this difficult decision. But you know what they say…when in doubt! Perhaps you should just hang on to it for the time being until you feel more confident in deciding to sell. The only thing about renting it out…do you have someone that could oversee the property while you are in another state…for such things as maintenance issues, etc.?
Michelle S. says
Yes, we have people who could oversee the property with no problem, and that is why we are thinking about doing this option.
Jayson @ Monster Piggy Bank says
Michelle, you really have to think this over. You know, we don’t want to regret it later one. In my case, I have to sell my house because I don’t want the location, amenities, and others matter like the neighborhood. We’ll have to move in another house for a better opportunity and where we can save much money like by being near from work and schools of my kids. Good luck Mich.
Michelle S. says
Thanks!
Andy says
We rented out our home of 25 years in 2008 when we hit the road to travel full time. The real estate market was in the tank and we couldn’t get a buyer as soon as we wanted to, so we thought we had found a better option, and once the market went back up, we’d find a buyer at the price we wanted. We also thought we had found good tenants who were treating the house as we would. We traveled all over the country and went back to “visit” our beloved “home” once a year, and it looked good. Two years in, we decided to put it back on the market so we could still make the cut off for the capital gains exclusion (you have to live in the house for 3 of the last 5 years, or you’re subject to capital gains on any profit above the cost basis). Oddly, we never got a single bite from a potential buyer, and didn’t know why. Six years later, after super storm Sandy left 3 feet of water in the basement, and our “wonderful” tenants tried to extort money from us or they would blow up the closing on our sale, we found our from our old neighbors how our tenants were frightening off buyers and ruining the house! We were fortunate to be able to sell at all, at a fraction of what we were asking for 6 years earlier!
Unless you really have your hearts set on becoming landlords and plan to hire a management company, since you live far away, and can afford the risk of having the house empty for long stretches, you are much better off selling, even if it takes time. Otherwise, you will be turning a house you are emotionally invested in into a purely business investment property, and that’s much easier said than done!
Michelle S. says
Yes, we have a lot to think about. I wonder what will end up happening 🙂
Melane @ Good Job Mom says
I can so relate to the feeling of falling in love with your house again! We usually stall on updates/projects until we decide to sell, then we do all the things that we had put on hold. After 7 houses, we have an agreement to do the updates early, so we can enjoy them before we sell!
To sell or rent? I would sell. My sister rented her home in a high end neighborhood while they were out of the country. The renters seriously damaged the house, right down to stealing the large landscape rocks!
Michelle S. says
Yes, we definitely plan on doing the updates early with the next house we buy. Not making this mistake again!
Brian says
I had a similar choice. We just purchased a new house yesterday. Our current house is 100% paid for and has belonged to someone in my family since it was built in 1957. After talking it over with my dad and my financial advisor we have decided to sell it. In the end, I don’t really want to be a landlord and dealing with a property management company doesn’t give me enough control.
That’s the approach we took. So I guess the real question for you is, do you want to be a landlord? Then if you do, do you want to manage it or are you ok with someone else pulling the strings for a fee.
Michelle S. says
We eventually do want to become landlords, so that is why this is a tough decision.
Amy says
That is a tough choice. I guess you have to consider whether or not you view your move to CO as permanent, or not. I can understand the temptation to hold onto it, but personally I don’t think I’d be eager to be a long-distance landlord. Good luck with whatever you decide!
Michelle S. says
Thanks Amy!
Crystal says
Honestly, only rent out a house that you DON’T ever think you ever want again. Tenants could be amazing or awful and you don’t want to take what they do to a gorgeous house personally. Our first house is 5 miles away from our current one and it isn’t one we think we’ll live in again – it’s well kept, great looking, but is too small for our socializing needs. I treat it as an income source that needs to be well maintained.
For you, since you are moving out of that town, I would suggest selling. Plus, you are making enough right now to invest greatly for your future instead of needing rental income.
Good luck!
Michelle S. says
Thanks Crystal!
Jordan says
Great article! I do know from other people who have rented out their homes that it is a great deal of work, and occasionally doesn’t pay off – but if it does, it can end up being better than selling, especially in this market.
Michelle S. says
Thanks!
Kali @ XY Planning Network says
We went through this same debate recently. Ultimately, we decided to sell because our home value was just $5,000 below its highest-ever estimated value (from 2008 before the crash). And although the rental market is good in our area, we knew we didn’t have the personalities to deal with tenants. Even good ones would likely end up stressing us out!
There were also some specific things with out house that pushed us to unload it. Somehow the downstairs AC unit and furnace have kept on going for 23 years — WAY beyond their expected lifespan. Who knows how long they’ll last. The roof is in good condition, but getting up there in age, and same for the water heater. There’s also something funky going on with our downstairs flooring; because of the way it was incorrectly installed it will cost double what it should to remove and replace (and it needs to be replaced). It was just a lot of stuff that inevitably will cost a LOT of money in the very near future, well before we could start making a real profit to cover the expenses from a rental.
If you’re interested in renting and there’s a market for it in the area, it makes total sense to hang on to your home. That way someone else is paying the mortgage but you’re the one who has an asset to sell one day in the future 🙂 Let us know what you decide!
Michelle S. says
Our furnace and water heater are super old too, but we get it regularly checked and everyone has always said it’s fine. I’m afraid it’ll need to be replaced eventually as well, so unloading now is another reason why we are wanting to sell.
Jon @ Money Smart Guides says
This is a tough call. On the one hand, it would be nice to have the house as a fall back plan should you not like living in Colorado. But on the other hand, renting is a big deal.
The one thing that concerns me is how you say you’ve fallen n love with your house. My wife and I have toyed with renting out our house when we move, but the kitchen was completely redone and my wife loves it. It’s everything she wanted. The thing is, I know she would be heart-broken if a tenant came in and didn’t care for it like we do. Odds are this is more likely than not. So, if you really love your house, you need to ask yourself if you could stand seeing someone not take great care of it?
Michelle S. says
Our house was put on the market today. Hopefully someone will buy it! 🙂
Christy Peeples DuBois says
Would I rent or sell my home? I would do just like you are doing and look at all the facts, actually writing them down on paper may help to see the benefits and liabilities of each. I am so like you in getting attached and in being indecisive. I know you are looking forward to this move but I might would look at renting my house for a short term period like 6-9 months or a year in the event the move does not go as we thought it would. Also, look at the housing market in did it drop overall or was it in my neighborhood only, which I’m sure you have done.
I believe in praying, praying and praying some more and God ususlly gives me an answer that I’m at peace with. I know you have to be nervous but it will work out like it should. I do believe that.
Michelle S. says
Thank you Christy 🙂
Kasia says
It’s a tough decision but if I were in your situation I would probably keep it and rent it out. I think when it comes to property, unless you remain living in it, it’s better to take emotion out of the equation and make a business decision. One of my bigger regrets was selling a property I owned as it would’ve been a great long term rental and we ended up selling at a loss.
What you have to look at is whether you want to (a) be a landlord, (b) might return to the area, (c ) is there potential for growth, (d) rental return, etc. Then weigh up the pros and cons. If you rent it out, one day it could become a source of semi passive income.
Michelle S. says
We put the house on the market today, but if it neighborhood keeps tanking and our house doesn’t sell, then we plan on turning it into a rental.
Barrie says
Personally, I would sell it. When you rent, you run the risk of someone ruining your house and then it can cost a ton of money to fix it up. Since you’ll be living far away, you’ll need to spend a monthly fee for a company to take care of the rental for you and take care of issues that arise. Whatever you decide to do, good luck 🙂
Michelle S. says
Thanks Barrie!
Robert says
It is really a hard decision for a hose owner. Should he rent or sell his house. From my point of view i would suggest if you love your house then don’t sell it as you can’t get it back. So it is better to rent it as it is another way of investment.
Jonny says
Personally I would lean towards selling.
I’m a risk-adverse person and renting may have the most potential upside (rental income, potential increase in value over time of the house) but it also has the most downside (bad tenants, decrease in the value).
I’m about one year away from selling the first home I ever purchased and I’ve tinkered with the idea of hanging onto it as a rental as well. Ultimately, I think I’d feel more comfortable with investing in bonds and stocks, mainly due to the small amount of effort required.
Haha, I always struggle with decisions as well, but once you pull the trigger the next steps will fall into place. Perhaps the worst decision of all would be to wait and just do nothing!
Best of luck!