How to Travel the World When You Own a Home

Travel The World Away From Home

Have you dreamt of doing some long-term travel yet felt tied down by the obligations of owning a home? More than ever, people (especially Millennials) are opting for a lifestyle of freedom and flexibility instead of the traditional 9 to 5 of past generations. But if you have a family and a home already, it can be tough to sell everything and become a nomad.

Having a home base is important for you, so what are your options when it comes to keeping your home despite being away? Here are a few ideas to consider that have worked for others who wanted the travel life, too.

Invite a Friend to House Sit

A great option for those who are concerned with home maintenance but not necessarily looking to make extra money off their home would be asking a friend or a group of friends to house sit. This comes with the perk of knowing your tenants personally. And because you’re not pursuing a formal rental contract, there’s no need to worry about paperwork.

If agreed to, they may be happy to cover utilities, general maintenance or minimal occupancy costs so you’re not worrying about home bills from across an ocean. You might even have enough space so you can return home for a few weeks or months without having them move out between trips.

Rent on Your Own

Maybe you’re fresh out of friends with the ability to take on a flexible living arrangement, so you’re looking at renting your home privately. You’ll want to put some work into finding a good tenant that you can trust with your furnished home (unless you plan to put everything in storage).

You’ll also want to decide how much to charge for rent. Look at the going rate for rent in your area, take into account how new or old your home is, and determine whether you’ll continue to handle utilities and include charges in the rent or have them set up utilities themselves.

Renting on your own will require creating and managing your own lease agreements and other paperwork. There are basic rental agreements you can find and modify for your purposes, but if you’re still concerned, speak with your legal counsel about obtaining or writing a lease that covers all aspects of the tenancy.

Hire a Property Manager

Renting on your own is doable, but depending on your travel timeline, it may be more work than you would like to manage on your own. Taking on a property management company could be an attractive option if you can cover the expense of property management. You’ll want to consider how far away you will be and how many properties you want to rent while you’re away when deciding if it’s right for you.

It can be advantageous to have someone who can physically handle collections, maintenance, evictions, and other tenant issues that come up when you’re a world away. And the more rentals there are to manage, the more time it could take on your own when you’d rather be enjoying your travel experience.

List Your Home as a Short-term Vacation Rental

If you have no qualms with strangers in your home and hope to make a little money off your rental, using short-term rental platforms like Airbnb and VRBO are worth looking into. Units tend to be less expensive than hotel bookings, and the more visitors you house, the better your rental reputation.

The use of these platforms are becoming more common, and while rental prices are best determined by the condition of your home and proximity to tourist attractions, you can still manage to make a decent profit. You may need to pay for cleaning services between visitors, but this is a small cost compared to other options.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.