When to Buy and Sell
If you have excess space, let it out for money or consider downsizing. Moreover, who wants to spend more time on cleaning or more money than necessary on housing and maintenance?
Renting out space may not sound appealing, but you can always ask for references or do background checks. You may even be able to utilize your personal network for finding someone suitable and someone people close to you can vouch for.
Do not forget a proper rental agreement. In some countries, e.g. Denmark, forgetting to make a proper rental agreement means that the standard conditions apply. This means that the owner in some cases will be unable to terminate the rental agreement.
If you just want to free up money, a mortgage or a reverse mortgage may be a solution. That way you will only pay
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In the start of a depression, the (smaller) businesses may be the first victims if they are reacting to slow to changes in their market conditions. This may bring the owners in a crisis and force them to sell their homes.
If you find it too expensive to invest in a house, there are other alternatives, e.g. two generations in one house may be a great cost reducer, a buy together with friends, etc. This could also reduce the cost of housekeeping and maybe on nanny cost.
Considering your home purely as an investment may be risky. Economics change over time and you can never be sure, when these changes occur.
This also implies that it can dangerous to buy before you have sold, especially if the real estate market has been booming. Unfortunately, I know people who have done just that and thus lost a fortune. How to Buy and Sell
Realtors can be expensive, so examine alternative ways to sell. One option is selling your home yourselves. Advertising via the internet have become increasingly cheaper. However, if you consider using a realtor, evaluate each of them on the following