Children bring many wonderful qualities into our lives. Love, affection, a sense of purpose and the daily joy of watching them grow and learn and develop from a tiny baby into a fully functioning human being. They also, however, necessitate certain changes. They need space to grow and develop properly and this can in some cases mean relocating to a bigger home. On the other hand, new babies also aren’t known for being cheap and may require a move to free up some capital from the family home to move into somewhere more modest. In either case it can, however, prove frustrating when we’re stuck in a property that refuses to sell. It impedes our ability to buy a new home and as baby’s arrival grows more imminent it can prove a real source of stress and anxiety for parents-to-be.
The whims of the market and other factors beyond your control shouldn’t be allowed to affect your ability to enjoy this new chapter in your life. If you need to relocate quickly then it can seem as though you have no options, but fear not! Here we bring you a range of solutions that will enable you to get packing fast!
If you can make do with the space you have and your sale is financially motivated then you may be better off staying where you are and remortgaging your property. This can not only free up some of your existing equity but also move your mortgage debt to a product with a more favorable interest rate, giving you more disposable income to make coping with your new arrival a little easier.
Sell your home for cash
If you’re desperate to get out of there and need a house sell fast, then there are companies that will buy your home for cash without realtor’s fees or the need to spend months waiting for a buyer to come along. While these companies will likely offer you less than market value you may still be able to turn a profit if you’ve bought the property cheap or have been there for a while.
Rent out your home
If you need to get out fast but aren’t too concerned about your finances then renting out your home to a tenant is a perfectly viable solution. Many homeowners act as a landlord to their tenants although with a baby on the way you might prefer to go through a property manager. At a fee of around 10-15% of the rental income you receive they will do everything you need to market and manage the property so that all you have to worry about is taking care of your family. Since you’ll be entrusting them with a huge asset, it’s important to choose the right property manager for you and your needs.
Property management services are diffuse and you should avoid a manager who will try to upsell you on services that you don’t need or neglect any of the following important duties:
- Advertising your property.
- Coming up with a rental price that suits you.
- Showing potential tenants around the property.
- Drawing up the tenancy agreement.
- Dealing with tenants if you choose not to.
Now that you have a range of quick and practical solutions, what are you waiting for? Get packing!
*Disclosure: This post was submitted on behalf of PennyMindingMom.com.