Your mortgage is high and your expenses are draining you. What should you do? Since the real estate market has declined and flooded with homes for sale, try renting out your home. But not the traditional way. I am talking about "short-term" rentals. You can support your home independently.
Where do you go when you have renters? Ask a friend or relative if you could move in with them. However, I would not call for a long term lease. I would only agree with you.
If you are struggling to pay your current expenses? Well, you could wait until you get some deposits on your vacation and use that to "float" you for a while. Once you start collecting payments, you can use that to pay your monthly expenses. Use your weekly salary to support a small, less expensive apartment until you get back on your feet. Once you get back to your home, you can re-evaluate your financial situation.
How do I know how to prepare my house for short-term rentals. There are several books on this subject, like Breaking the Rules: How to Rent Your Vacation Home. These rules can be applied to any rental property.
Should you choose to sell your home, here's one suggestion:
Prepare your home for a short term and make it on the market. Let your realtor know that you have created a whole new market for your home. You want to look like a genius. And of course, remember to stage your home and price it right for best results.
It is not an easy decision to make, but it sure beats losing your home to the bank. And it wants to help you protect your credit. One more note: whether you are selling or renting, it is the most desirable property in your area, better than any other house on the market.Immobilienmakler Heidelberg Makler Heidelberg
Source by Marie R. Ferguson