Recently a client called us with a problem. Kari had owned her home in Lakeway for five years, but she was a single mom and felt that the payments and the upkeep were too much for her. To make matters worse, Kari was a teacher, and she knew she could not retire on her salary. She decided to sell, and she called us.
We consulted with Kari about what her needs were around her situation. We looked at what the other homes in the area were leasing for. We found that if she held onto her home and rented it out she would only be negative by $150/mo with management fees, maintenance, and vacancy. If she held onto it, her $300,000 home could be paid off for her in 20 years and be worth $500,000! Imagine Kari’s delight when I didn’t rush over to list her home, but instead assisted her with her retirement plan!
This solution is certainly not for everyone. But, if you or a friend are in a similar situation, email us for our Seller Planning and Strategy Session, which will help clarify your needs and goals around your biggest asset.
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