Bought in 2019 at 3.75, refinanced to 2.5 in... 2020 or 2021.
It was supposed to be a 3 or 5 year home. Now, we can't afford to sell it. It's small, which was great at the time, but we need more space now. But there's no room on the lot to add on.
The current plan is to build a shed and move my office into it if we need that room for anything.
Can you rent out your current home and rent something more suitable for yourself until it makes sense to jump back in the market?
Many homeowners are becoming "accidental landlords" these days because of this peculiar situation.
I probably could, but I don't really want to be a landlord. Some moral feelings there, but honestly it's more about the business/bureaucracy side of things. I just don't want to deal with it.
I understand. If you don't want to deal with the business side of things, you could have a property management company do it. They usually take 8-10 percent of the rental price. But then you don't really have to do anything.
Bought in 2019 at 3.75, refinanced to 2.5 in... 2020 or 2021.
It was supposed to be a 3 or 5 year home. Now, we can't afford to sell it. It's small, which was great at the time, but we need more space now. But there's no room on the lot to add on.
The current plan is to build a shed and move my office into it if we need that room for anything.
Can you rent out your current home and rent something more suitable for yourself until it makes sense to jump back in the market?
Many homeowners are becoming "accidental landlords" these days because of this peculiar situation.
I probably could, but I don't really want to be a landlord. Some moral feelings there, but honestly it's more about the business/bureaucracy side of things. I just don't want to deal with it.
I understand. If you don't want to deal with the business side of things, you could have a property management company do it. They usually take 8-10 percent of the rental price. But then you don't really have to do anything.