Recently, I helped another client to buy their new home in Saline, while remaining reluctant landlords with their existing home. (Original article by Vance Shutes). Let’s hear their story today.
Search Homes for sale in Saline Mi
Brian and Terri had outgrown their existing home, with their two growing children and the family pet – a really large, energetic dog. It was a great house for them at the start, but it became smaller as the kids got larger. It was time for a new home!
All along, they thought that they would sell their existing home when buying a new home. However, with the decline in values over the past several years, their home was worth less than they wanted to recover from its sale, so Brian and Terri became reluctant landlords. I say “reluctant” because they really wanted to sell the house, but didn’t want to take a loss on the sale. As a result, they reluctantly decided to hold on to it and use it as a rental property – until values recover.
Fortunately, while working with an outstanding local lender, they learned that they could afford a new home while keeping their existing home. This was, of course, good news – other than they really didn’t want to become landlords.
We began their search by looking at the subdivisions in the Saline area with 1-acre lots – plenty of room for the kids to play! We found plenty of choices, but most of what they saw was uninspiring. Occasionally, a new listing would catch their interest, and we’d go investigate. Still, none of them drew their strong interest.
Finally, a large 2-story home on an acre lot was reduced in price to fit their budget. As soon as we saw the house, we knew that it was the right one. After successful negotiations and inspections, Brian and Terri closed on their new home purchase before the holidays – so they could celebrate Christmas in their new home!
Who do you know that’s looking for a larger home, but doesn’t want to “lose” on their existing home? Perhaps they can be successful but reluctant landlords too! Let them know about my experience in the local market. I’d be happy to meet with them! Just have them give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.
Search Homes for Sale in Saline MI
Follow me on Twitter or Facebook.
See you on Monday!
