LISTING YOUR HOME BECAUSE OF

Marriage

Selling both homes is often the best option when merging families that include children; it prevents one set of kids from feeling like their space has been invaded by another group of kids who feel like the invaders.

Married with Houses

Married with Houses

As more career-minded adults find love later in life, it isn’t uncommon for these two merging lives to have to figure out what to do with the homes their bringing into the marriage.  The most common solution is to sell one (or both) and find their perfect together home.  When thinking of this situation, you have several options to explore and we’ll explore a few of those options in this article.

  • Sell one home, live in the other home.
  • Sell both homes, buy a new house together.
  • Rent out one of the homes, live in the other.
  • Rent out both homes, buy a new house together.

Sell one home, live in the other home

Selling one home and living in the other often sounds the most reasonable – and often it is.  Especially, if one of the homes meets all the requirements of the newlywed couple.

We’re not going to spend any time reinforcing the reasons to stay in a home as often the reasons for doing so do not require a list of reasons to do so.  Selling a home, now that often requires some discussion.

First, you ought to recognize that regardless if you keep one home and sell the other, both people will need to do some major decluttering – two fully furnished, fully decorated, fully lived-in homes simply do not merge together within one of the preexisting living spaces.  In fact, we’re not even talking about one person declutter by half and the other matching, we’re suggesting each person declutter by over 50%.  Of course, this isn’t a hard fast rule, but generally speaking, people have a lot more stuff then they really recognize.

Sell both homes, buy a new house together

Selling both homes is often is the best option when neither home truly matches the needs and/or wants of the couple.  When you think about it both homes often represent a time of different priorities, purchased around a different stage in life, and with entirely different needs in mind.  Merging a household often requires a new understanding of future priorities, interests, and needs; hence the need for a new bigger or smaller home.

Selling both homes is often the best option when merging families that include children; it prevents one set of kids from feeling like their space has been invaded by another group of kids who feel like the invaders.  Homes often come with a years of good (and bad) memories – moving on (literally) is way to build new memories with your spouse.

When selling both homes comes into view, establishing a comprehensive plan becomes necessary to simplify the process – talk with a REALTOR® to establish a game plan.

Rent out one (or both homes)

There are a lot of reasons why you may want to rent out one or both homes – real estate is often a sound investment, and like any investment be sure to weigh the benefits against the risks.  Since you already recognize the tremendous benefits of real estate investment let’s cover some of the most common risks that may not be at the top of your mind.

  • If your home(s) still have a mortgage payment it often doesn’t take much of a hiccup to add financial strain. Be sure you can comfortably afford periods of rental vacancy.
  • Unlike most stocks, selling a home isn’t instantaneous; and to prevent emotional decisions regarding your new real estate holdings you ought to have a written understanding of your financial goals related to the properties AND a firm understanding of the conditions in which you will sell.
  • Becoming market unaware. When you’re living in the neighborhood it’s easy to see what’s going on, who’s selling, who’s moving in, and what new developments are going on around you.  These small changes over time influence your local market – and as such, you’re in a better position to understand when you might want to sell or even improve your property.  When you’re not around, these things could land up being a bad surprise that diminishes property value hurting your ability to maximize your investment potential.

 

As more career-minded adults find love later in life, it isn’t uncommon for these two merging lives to have to figure out what to do with the homes their bringing into the marriage.  The most common solution is to sell one (or both) and find their perfect together home.  When thinking of this situation, you have several options to explore and we’ll explore a few of those options in this article.

  • Sell one home, live in the other home.
  • Sell both homes, buy a new house together.
  • Rent out one of the homes, live in the other.
  • Rent out both homes, buy a new house together.

Sell one home, live in the other home

Selling one home and living in the other often sounds the most reasonable – and often it is.  Especially, if one of the homes meets all the requirements of the newlywed couple.

We’re not going to spend any time reinforcing the reasons to stay in a home as often the reasons for doing so do not require a list of reasons to do so.  Selling a home, now that often requires some discussion.

First, you ought to recognize that regardless if you keep one home and sell the other, both people will need to do some major decluttering – two fully furnished, fully decorated, fully lived-in homes simply do not merge together within one of the preexisting living spaces.  In fact, we’re not even talking about one person declutter by half and the other matching, we’re suggesting each person declutter by over 50%.  Of course, this isn’t a hard fast rule, but generally speaking, people have a lot more stuff then they really recognize.

Sell both homes, buy a new house together

Selling both homes is often is the best option when neither home truly matches the needs and/or wants of the couple.  When you think about it both homes often represent a time of different priorities, purchased around a different stage in life, and with entirely different needs in mind.  Merging a household often requires a new understanding of future priorities, interests, and needs; hence the need for a new bigger or smaller home.

Selling both homes is often the best option when merging families that include children; it prevents one set of kids from feeling like their space has been invaded by another group of kids who feel like the invaders.  Homes often come with a years of good (and bad) memories – moving on (literally) is way to build new memories with your spouse.

When selling both homes comes into view, establishing a comprehensive plan becomes necessary to simplify the process – talk with a REALTOR® to establish a game plan.

Rent out one (or both homes)

There are a lot of reasons why you may want to rent out one or both homes – real estate is often a sound investment, and like any investment be sure to weigh the benefits against the risks.  Since you already recognize the tremendous benefits of real estate investment let’s cover some of the most common risks that may not be at the top of your mind.

  • If your home(s) still have a mortgage payment it often doesn’t take much of a hiccup to add financial strain. Be sure you can comfortably afford periods of rental vacancy.
  • Unlike most stocks, selling a home isn’t instantaneous; and to prevent emotional decisions regarding your new real estate holdings you ought to have a written understanding of your financial goals related to the properties AND a firm understanding of the conditions in which you will sell.
  • Becoming market unaware. When you’re living in the neighborhood it’s easy to see what’s going on, who’s selling, who’s moving in, and what new developments are going on around you.  These small changes over time influence your local market – and as such, you’re in a better position to understand when you might want to sell or even improve your property.  When you’re not around, these things could land up being a bad surprise that diminishes property value hurting your ability to maximize your investment potential.

 

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Amy Watson

Amy Watson

REALTOR®

208.412.3665

amy@amywatsonrealestate.com

Amy Watson is a second-generation REALTOR® who was raised in the Treasure Valley.  She prides herself on ongoing personal and professional development. Past clients would tell you she prides herself on being accessible, responsive, current with real estate technology and trends, and a true professional. This all comes while offering a customized approach based on their unique set of needs. There is nothing better than seeing clients reach their financial and real estate goals. She enjoys becoming lifelong friends along the way. She will also throw in her dry sense of humor at no extra cost! Why not have fun!

Personally, she enjoys spending time with her family, two Yorkies, Millie and Hyde, and cat named Fuzz. She loves anything in the mountains (being married to a geologist makes this more fun), long distance cycling, traveling, snowmobiling, alpine skiing, and playing golf.

In addition to her real estate knowledge, she graduated magna cum laude from Boise State University in 2014 with a Bachelor of Business Administration and was recognized as the Outstanding Graduate in the marketing department for her leadership, academic excellence, and contributions. She says her education has allowed her to apply economics, analytics, business law, and finance among other important areas of business to real estate. She also volunteers time to her church and community.

Because of her ethical and professional approach to real estate, Amy has been a top producer of her local REALTOR® association since 2015 and one of the top agents in her home area of Middleton since 2016. She strives to be your “REALTOR® for Life” and promises to exceed your expectations.

Woodhouse Group Real Estate