03 Apr How to Know When You’re Ready to Let Go of Your Home
The time has come. You’ve decided to let go of your home.
This is a big decision for many of us. Our homes carry the history of our families, good or bad as they may be, and letting this go can be stressful for everyone involved.
But when needs must, then we have to do what needs to be done. Whether it’s moving into more affordable apartments or just downsizing to simple house designs, selling a home is a big move. Acadeo is here to help, by outlining some important reasons to consider when selling your home.
MIGRATING TO A DIFFERENT COUNTRY
This is one of the biggest reasons for why families may sell their homes. If a family is leaving the country, the existing costs of taking care of real estate properties in the Philippines may be costly.
After all, you’d have to pay annual taxes for the property, as well as the costs for maintaining the property daily, weekly, or monthly. Paying for a caretaker is also an additional expense that many families planning on starting over abroad may not be ready to spend on.
Immigration is a big step, and sometimes, it’s just more cost-efficient to sell one’s home here in order to build a new one elsewhere.
RETIREMENT OR AGING ISSUES
When our loved ones get older, they may begin to show signs of diminished abilities. They may have to retire sooner, or find their pensions depleted in light of rising medical expenses.
Caring for them is a full-time job for some of us, and many of us would prefer to care for family members at home rather than send them to nursing homes or hospice care.
In situations like this, funds may be needed to sustain the care for our elderly loved ones. Selling one’s home may add a considerable amount of funds towards the care of family members who need it.
MOVING TO A NEW NEIGHBORHOOD
Sometimes we just need a fresh start in our own community. One way that many of us do so is by moving to a different area of the city, or to a neighboring province. Maintaining two homes can be very costly for some of us, however, and in situations like this, selling one’s home in order to buy a new one elsewhere is a smarter financial decision for many.
Location can affect property tax, as well. Even moving a few kilometers to spell lowered taxes in the hundreds or thousands, especially if you’re moving somewhere that isn’t as developed compared to where you’ve been living previously.
There are many other reasons, of course, and these 3 points are the most common. Do you feel like it’s time to sell your home and move elsewhere? Tell us your stories in the comments!