Have you ever thought about selling your house to travel the world?
Well, if you own a house but love to travel the world, the biggest decision you may have to make is selling your home to fund your travels. The thought of this alone is ridiculous considering that homeownership is mostly viewed as a means of putting a halt to long term travel, today so many people have found a way around it.
While everyone desires to quit the rat race, embarking on a new lifestyle after selling your home can be far-fetched. However, with a good plan, you will be surprised that this is the best move you will ever make. There’s nothing better than travelling the world and enjoying many experiences when you are free from the pressure that comes with homeownership.
Selling your House to Finance your Travels
It’s not easy deciding to sell your house to fund your travel or even deciding what to do with your home for the duration you will be away.
Yet, for most people, selling property to fund travels is not an option; it is mandatory as this is the only way you can be able to pay for your tickets, services like healthcare and food supplies. The challenge then becomes finding a suitable buyer. This can be frustrating especially seeing the current state of the property market that is characterized by overpriced properties and stagnated wages.
As such, it can be difficult to find a buyer and close the deal fast. However, you could also opt to sell your property to companies that buy your house fast like Ready Steady Sell. Such companies will buy your property in no more than 14 days so you can begin your expedition to the world soonest.
Selling your house to fund your travels can make things easier and eliminate the stress that comes with home management while you’re away.
Selling vs Renting
While some people will prefer to sell their home, others would rather rent it out for the time they will be away. Both options have advantages and disadvantages therefore, it is up to you to decide what works best for you.
If you choose to sell your house to travel the world, it is an excellent move because you will enjoy peace of mind. That is, you will not have to worry about repairs, mortgage or any other fees associated with maintenance.
Of course, the biggest advantage of selling your house is that you get a huge sum of funds that you can use to fund your travels. You may also use some of the money elsewhere particularly in low maintenance portfolio such as dividend-paying stocks.
One of the reasons that could you to selling your house is that it eliminates that you won’t have to worry about what you will do with your possessions. If you opt to sell your house, you have to sell all your possessions and compress your life so that you have all you have are all important documents and your backpacks. Selling your possessions will help you raise the funds you need to fund your travels. However, you can also opt to keep some of your sentimental items.
The only challenge with selling your house comes when you want to make a comeback to the property ladder. This may prove to be a little difficult because as it stands, the prices of houses are not rising as fast as they used to. If anything, they are falling.
While you have the option of renting your house, this option can leave you with so many expenses to take care of making it less profitable. It may just be impossible to fund your travels with the proceeds from the rent because you may be having a mortgage to worry about, bad clients to deal with, damage to the property and other unforeseen expenses. Eventually, you’ll realize that the income potential for the period you will be travelling is not much.
Your home may be your most valued asset therefore before your it to fund your travels you must evaluate all the possible scenarios to be sure you’re making the right move. You also must have a plan of what you intend to do once you are ready to settle back at the end of your travel period. This will give you a clear picture of what you need to do so that you enjoy the time spent away travelling and making memories.