Relocating – 3 Ways To Profit From Your House
Having to move to a new city for a new job can be one of the most exciting as well as stressful times in your life. If you are a homeowner the big question becomes, "What am I going to do with my old home? There are a few options you have available to you. We are going to look at three main ones in this entry: renting out the property, list your home and hope for the best, or go with a company that can guarantee a quick sale.
Renting out Your Old Home Is not Always the Best Option
When moving to a new town, many homeowners decide to keep their old home as an investment rental property. They figure this will provide them with an additional source of income, and they will not need to go through the stress of trying to sell a home as they prepare to move away. When you put it this way, this does seem like a great option. Unfortunately, it rarely works out well.
Serving as a long distance landlord, you have little control over your property. It quickly becomes a headache as the tenants need work done or abuse the home, and you are in a different city trying to get comfortable in your new job. Plus, when you factor in property taxes, mortgage payments, and renters never paying on time, you will be lucky if you do not lose money.
Listing Your House through Traditional Channels
Nothing compounds the anxiety of a big move quite like trying to sell a home you no longer live in, while still paying the mortgage. Meanwhile, at your new location, you likely have the additional financial stress of having to pay rent or a new mortgage as you try to get acclimated. Many realtors can take months, even years, to find a buyer for your home.
If you have plenty of money, have the house paid off, and can afford to wait on a realtor to get you as much as possible for your home, then a long term listing may be your best option. But, for most of us, the additional mortgage payments we have to make while waiting for the property to sell is not worth the additional money we may get if the market improves.
Guaranteed Quick Sales
Sold Today is able to sell your home in Connecticut in seven days or less guaranteed. This takes the biggest anxiety producing aspect of moving out of the picture immediately, so you can focus on having a smooth transition to your new opportunity. This will also give you the cash you need to buy a new home where you are moving.
Call Sold Today now for a free consultation.