If your house has been sitting on the market longer than you expected, you might be starting to wonder what your options are. What do you do next? It’s a conversation I’m having with more and more Palmerston North homeowners at the moment.

The Palmerston North market is working well for some sellers, but it’s harder for others. A lot depends on when you bought, why you need to sell and the price you need to achieve.

Sometimes the answer is simply to give yourself more time. Renting your home for a year or two can give you time without having to sell for a price you’re not comfortable with. And interestingly, some owners who initially see renting as a temporary solution end up deciding to keep the property as a long term investment.

Financially, it can make sense too. Rather than selling for less than you had hoped, rental income can help towards the mortgage and other costs of holding the property while you retain the asset. There can also be tax deductions available for rental property expenses, so it’s worth researching about how the numbers could work for you.

One of the biggest things I hear is, “But I don’t want the hassle of being a landlord.”

I completely understand that. There are tenants to find, inspections, maintenance, legislation and Healthy Homes requirements to think about. But you don’t have to manage all of that yourself. That’s what we do. We can look after the property and tenancy while keeping you informed along the way.

Others worry about someone else living in their home or what condition it will be left in. Good tenant selection, detailed ingoing inspections, regular inspections and good property management all help protect your property and give you a clear record of its condition.

Renting won’t be the right answer for everyone, but if your property isn’t selling, you don’t necessarily have to choose between accepting a price you’re unhappy with or staying stuck.

If your home is already on the market, you’re thinking about selling, or you simply want to know what it could achieve as a rental, I’m very happy to have a chat. I can give you an idea of the likely weekly rent, talk you through what’s involved and help you work out whether renting could make sense financially for you.

There’s absolutely no obligation. Sometimes it’s simply helpful to know all of your options before deciding what comes next.

Audrey Grinter
New Business Manager | Watson Integrity
021 451 708   |   [email protected]