Need Work, Will Travel: How to Handle Your Primary Home While You Work Away

Are you a travelling freelancer with a mortgage? If so, you may be wondering what’s the best way to handle your real estate when you’re gone for months at a time. There’s no right or wrong answer for anyone, but today’s tips from Croissant can help.

Identify Your Goals

Before you know what to do with your home, you have to identify both your professional and personal goals. If you work with international clientele, you may want to visit many of the places you recommend for your clients. In this case, your goal may be to travel for six months out of the year, which leaves your home vacant half the time.

Know Your Financial Situation

Of course, you already know how much you make, but are you really keeping up with how much you spend while you’re working? As a digital nomad, you are responsible for your own expenses; there are no travel reimbursements when you are self-employed. Spend some time budgeting for each trip. 

Should You Sell?

Sometimes, it makes sense to sell your home before you embark on long-term travel. This is especially true if you’ll travel for more than nine months out of each year. If this is the case, you may save money, headaches, and worry by simply renting a furnished apartment when you’re ready to return “home.” 

Start by looking at the real estate market trends in your area to see if it is a good time to sell. If home prices are steady or going up, then consider listing your home. If they aren’t, renting might be the best option right now. 

Consider Renting Your Home

If selling doesn’t sound right, renting out your home offers several significant benefits. Financially, it can be a steady source of income, helping to offset the costs of your travels. This passive income stream can be especially beneficial, as it reduces reliance on regular employment or freelance work. 

Additionally, renting your home ensures it remains occupied and maintained, which can prevent potential issues such as vandalism or deterioration due to neglect. It also keeps the property lively and can be reassuring to neighbors. From a logistical standpoint, renting offers flexibility. You can choose short-term or long-term rentals based on your travel plans. 

Prepare Your Property

Preparing your property for rental involves a series of strategic steps to ensure it is both appealing and functional for tenants. First, conducting thorough maintenance is crucial; this includes fixing any existing issues and updating appliances to ensure everything is in working order.  Make this process easier by using a handyman app to connect with local providers who offer a range of home repair services. You can quickly schedule these vetted experts to tackle plumbing, electrical, and appliance repairs and maintenance.

Next, investing in quality, durable furnishings can make the space more attractive while minimizing the need for frequent replacements. Implementing a reliable smart security system provides peace of mind for both you and your tenants. Additionally, setting up efficient communication channels for tenants to reach you or a designated property manager is vital for addressing any concerns promptly. 

Storing Your Belongings

If you don’t mind spending anywhere between an average of $180 each month, rent a self-storage unit that will comfortably house your belongings and offers convenient access hours and video surveillance. If you need to store a vehicle, you can find a storage unit for this too. Garage Weekly notes that you might consider storing your car in the garage or an outbuilding if you decide to keep your home. You also have the option to purchase a foldable garage or build a carport.

As a digital nomad, deciding what to do with your home while exploring the world is not just a practical one, but also an opportunity to enhance your lifestyle and financial well-being. Whether you rent it out, entrust it to friends or family, or decide to sell, each option offers unique advantages and experiences. The key is to select a solution that aligns with your circumstances and travel goals, ensuring peace of mind as you embark on your adventures. Remember, your home can be more than just a physical space; it can be a dynamic asset, contributing meaningfully to your nomadic journey. 

Looking for coworking places while traveling the world? Croissant is here to help! A membership opens doors to a wealth of spaces perfect for digital nomads who need to set up shop. Join today!