My first home was my townhome. It’s also the first place I’ve ever EVER lived by myself. In the past I’ve always bounce from sister to sister depending who didn’t drive me crazy. In the end I lived with my sister Angie for years before buying my townhome. I bought it because my boyfriend (my now husband) convinced me I should, I had a steady job, and the market was really good for buyers (Recession). It didn’t take me too long to find one. Sticking to what I could afford was a gray area for me because I knew I would be living by myself even if people kept on telling me I could get a roommate to save money.
So for a few years it was my Cutie Cat Coco and I. I think she loved the place more than I did due to her being the only pet. I loved it because I didn’t have to share bathrooms anymore and it was fun to have more space than a bedroom. Eventually my relationship with my boyfriend evolved from boyfriend to fiance and now husband. Coco and I moved with my fiance with his two cats Bailey & Jager. My townhome was easily rented out because it was a two master bedroom home with a 1/2 bath downstairs.
To be honest the smartest thing I did was to contract a property management. I wasn’t taking much money home after their fees, HOA, Warranty, etc. but essentially the renters were paying this home off for me. Finding a renter on my own wasn’t a success, which is why I went with a property management company. I figured the fees they charged wasn’t so bad considering they did the legwork of listing and making sure my rent is paid. As time went on I started to get those little flyers in the mail from real estate agents how much Comparable homes were selling.
I usually read those flyers and throw them away. A few months ago I realize the price is leaning toward a seller’s market in the area. I double checked on zillow on sales of home in the are and I contacted the property management. They then sent my information to one of their agents. So this is where we are now. My home is listed and everything is being handled by my agent. I probably should have researched more on real estate agents but she sold me on her experience of listing and selling home with tenants. Plus she has always return my emails/calls, and has given what I consider a good professional opinion on selling my townhome.
What I’m estimated to make in selling our rental would help my husband and I financially. Our emergency fund would be funded, a huge chunk of my student loans would be paid, and we would still have a considerable amount left for a down payment on our next home (in a few years or so). I just hope it gets sold soon. Comparable home have sold in less than a few months. Luckily we have the money if the tenants have to be evicted ( Ugh another story I will have to blog about later). I will miss my townhome when it gets sold. Though what we are expecting to make on it makes me really excited. I guess my husband was right at the time that buying that home will be an investment.