My house… do I keep it, sell it or rent it?

old couple by their house

April 21, 2021

Anything can happen in our lives that might make us consider what to do with the current housing situation. If all of a sudden, the house becomes too much of a financial burden, or if your children are leaving, you might wonder what to do now. There are various options for you to choose from, however. The question becomes, do you keep it, sell it or rent it? If you rent it, you don’t have to part from the house and still get a monthly income from the tenants. If you decide to keep it, you might consider getting flatmates to help share the financial burden.

In order to learn more, keep reading the article!

The children have left the nest, and perhaps you find yourself a little lost in a house that has become too big. Or perhaps the economic situation is pushing you to review your living conditions and to consider taking a flat, which is less financially restrictive than your house, which is expensive to maintain?

Several solutions are available to you. Considering putting your house up for sale in order to invest in a smaller home is always an upheaval, especially if the owners have to do so following a divorce or financial setback. In principle, as you want to invest in a home that is more suitable for your needs, you should have a nest egg left over after the purchase. The good news is that you will be free to use it as you wish, by investing it to grow, or by using it to treat yourself or to renovate your new home.

What if I rent?

Selling the house is not the only option. If you are heartbroken at the thought of parting with the home you love, perhaps you can see other possibilities? Renting out the house gives you a monthly income without having to part with your property. It is also possible to take on a flatmate and still live in the house. Today, some people over 65 choose to break with their habits by offering a flatshare to a young or not so young senior or, why not, to a student looking for a room in a family environment. The financial contribution then makes it possible to reduce the rent and charges.

Many are also tempted by a very different experience: setting up a guest room. Setting up a guest room in a house can generate a secondary income, but economic profitability should not be the main motivation for this project. The administrative procedure varies from canton to canton. Depending on where you live, you will need to obtain a para hotel license if you plan to open an establishment capable of accommodating more than five or nine people. You will also have to register with your commune and with the service responsible for collecting tourist taxes, which must be collected per visitor and per night. Finally, it is recommended that you classify your guest rooms according to a star system established by the Tourist Offices. It will give you a “quality” positioning and will allow you to be visible on the website of www.myswitzerland.com

TIPS:

Information on renting: www.ch.ch/fr/location-logement-bail

Information on guest rooms: www.swisstourfed.ch

Fédération Romande Immobilière: www.fri.ch

You May Also Like…

Memory problems in mid-life

Memory problems in mid-life

Memory problems can occur at any time, even in our mid-life. The issues can be small or big, depending on the severity...

Sleep apnea syndrome

Sleep apnea syndrome

Sleep apnea could potentially be a serious sleep disorder. There are several different sleep apneas and they cause...