For most of us, our home is our most significant asset. We have been dutifully paying down the mortgage for years, but now it is time to get out and see the world, experience life and feel invigorated once again.
When you plan to travel the world, selling your home might seem like the most straightforward way to finance your dream trip; however, we encourage you to first read through our pros and cons before printing your boarding pass.
If you are contemplating selling, then be sure to go through this checklist when selling a home. There are undoubtedly pros to selling your house to travel the world, and here are just a few of the reasons:
It’s an undeniable fact that you need money to travel. For any length of time that you intend to jet-set around the globe, you’ll need funds for flights, food, and experiences. Being a digital nomad is more common these days, but not everyone wants the added stress of working while on the road. Selling your house could be the quickest and most straightforward way to finance your dream trip.
Your sanity is an investment worthy of making regular deposits. When you sell your house to travel the world, you can focus on discovering your interests and desires without the burden of emotional baggage or other people’s expectations. Taking stock of what matters to you now, financially, emotionally, physically, can lead to a lifetime of happiness.
Often people travel after life throws them a massive curveball. A breakup or redundancy at work can feel overwhelming when you are in the thick of the disaster; however, putting some physical distance between you and your comfort zone can be precisely what is needed. For example, if you sell your house, then you don’t have the physical ties to your home, neighborhood, or town and can start fresh when you decide to return.
Hopefully, you can pull out a nice profit from your home when you sell. If you invest this money wisely, you could continue to travel from the dividends or put away a nice sum for your future.
Selling your house isn’t necessarily the best way to finance traveling the world. Here are some of the reasons to consider not putting your home on the market.
Once you exit the property ladder, it can be challenging to get back on near the same rung after your travels.
Regardless of how much you sell, give away to charity or throw away, you will unquestionably have belongings that need to be stored somewhere if you plan to travel. If your parents or friends don’t have an empty garage that you can use, then you’ll need to pay for a storage container to keep your assets safe.
For some people, breaking the physical ties with their hometown can be daunting. This is especially true for those with no family or work commitments and no pertinent reason to return to a particular place. However, if you are a person that feels compelled to put down roots, then selling your home and not having a backup plan can be especially unnerving.
Deciding on selling your home to travel the world is a personal choice. However, we can tell you that expanding your worldview and taking time to reflect on your life choices and direction will never be a decision you’ll regret.