I can’t believe that five years almost to the day, I am in the same situation again. OK, so maybe I’m not in the same situation but it’s similar.
It was five years ago in May when I gave up my job and rented out my house to travel the world. I can’t believe it was so long ago. Time really does fly by! Anyway, all those years ago, I had to decide what to do with my house: do I sell or let it? At that time, it wasn’t much of a decision. I didn’t want to sell because I wasn’t sure how long I would be away for.
It’s different this time because I have decided to base myself in France for a while at least and see how it goes. It is something I have thought about over the years and the opportunity to do so has arisen because my partner, who is French, has just moved back. So, the question once again is, do I let or sell my house this time? Oh, decision, decisions!
My initial thought was to let it out again; selling it hadn’t crossed my mind. That was until I had a letting agent round. Don’t get me wrong, she was a nice lady and she knew her stuff but I was concerned about getting the right tenants in. I mean, it’s difficult to judge who will be a good tenant until they are living in the property. This might sound strange from someone who has previously let out the same house but it wasn’t a positive experience. It’s a once bitten, twice shy scenario. Having said that, do I allow that to stop me from doing the things I want to do and leading the life I want?
I was feeling rather confused about the whole thing last Saturday so, after a walk to one of my local beaches, I decided that I shouldn’t rule anything out. I decided to consider all options: letting and selling. I spoke to some estate agents and looked at the market and deduced that letting my house would be the best option for me at the moment. I can always sell it at a later date, if I wish.
So, should you let or sell your property if you are thinking of going travelling or relocating?
Well, that depends on you and your circumstances. When I was travelling around the world, I met a few people who sold up everything before they left. You need to do whatever is right for you, your circumstances, as well as your future plans. Here are some things to think about:
How do you want your life to be? Where do you want to live and what do you want to do?
Are you thinking of travelling or relocating temporarily or permanently?
Do you think you might return to your native country?
Research the property market by speaking to local estate and letting agents and searching for information online.
How do you feel about letting your property? If it has been your home for a period of time, there may be some emotional ties to the property. It’s important not to underestimate that. On a practical note, even if it is fully managed, there are decisions you will have to make, maintenance issues to sort out etc.
Researching and thinking through all these things will help you determine if it is best to sell or let your property.
Have your say
Are you thinking of going travelling and are wondering if you should let or sell it? If you have been in that position, what did you do? Please share your stories because we can all learn something from doing so.