Sell paid off home or split into rental property.

[Marc Appel]

I’m 34, lots of years left to invest. My wife and I are lucky enough to have our home paid off. We are looking to move into a similar priced home. Is it more economical to sell our home and put all that money into a new home so we don’t need mortgage, or take out a mortgage on our current home and turn it into a rental property. Take the money we mortgaged on our current home and use that money for a down payment on our new home and take out another mortgage. Thanks for your thoughts, Marc