Sell primary home vs rent it out

[Shashank Viswanadha]

Hi first timer here, trying to figure out what the best option would be. Sell vs Rentl

I have a primary residence with almost 50% equity in the home ( considering appreciated value ). Split on whether I should rent the home out or if I should cash in on the sale.  

If I sell the home the proceedings will go into the  new Primary home we'll buy around Atlanta suburbs area. Even if not we have enough cash to cover 20% of the downpayment for the new home. Considering the interest rates are around 5% wondering if this money is better served if it goes towards the downpayment ( and we can refinance if the rates go lower ).

We aren't active investors so we don't anticipate to put the money to good use, so checking if this forced rent option is going to serve us better overall in future. 

Pros ( selling )  / cons ( renting )

- Market is priced right to lock the appreciated value.

- Money from sale will cover a huge downpayment for the new home ie., sell loan/amount. Considering interest rates are high the more amount down the better it is.

Cons ( selling ) / Pros ( renting ) 

- Home financed for with low interest rate ( 2.75 % ) and only 19 yrs remaining.

- Forced entry into investment so good long term stable value. NYC suburbs so don't expect the market to tank like other upcoming metro areas.

- We know the home and neighborhood and  its in good condition so don't expect a lot of work.

What i'm looking for is some validation on the numbers. If its terrible mistake to rent it out or vice versa. Are there are any red flags or benchmark numbers that I can run it against.