There are many who have sold their landed property before leaving for greener pastures and later regretted it.
Some were deported back to their country, leaving them with nothing to fall back on.
To avoid regrets, you should consider these tips on why you should not sell your landed property if you plan to leave for greener pastures.
1. House-Sit : Find a trusted house-sitter to live in your home while you’re traveling. This ensures your property is cared for and maintained.
2. Rent It Out: Consider renting out your property to tenants during your travels. This approach can provide a steady stream of income while ensuring the property remains occupied, reducing risks such as burglary or vandalism.
Additionally, you can leverage this opportunity to stylishly venture into the real estate business while abroad. With the extra income, you could even decide to build another house back home, expanding your real estate portfolio.
However, it is crucial to entrust your property to reliable individuals or reputable agents to ensure proper management and avoid potential issues.
3. Turn It Into a Vacation Home: If your property is in a desirable location, consider turning it into a vacation home. This could be for your own use or rented out to vacationers. It’s a good way to keep the property utilized and generate some revenue.
4. Use It for Short-Term Rentals: Platforms like Airbnb allow you to rent out your property to travelers on a short-term basis. This can be a great way to generate income and keep your property maintained while you’re away.
5. Lease to a Business: Depending on the zoning and location, you might lease your property to a business. This can be a longer-term arrangement that provides stable income, especially if your property is in a commercial or mixed-use area.