SELLING YOUR HOUSE ? THREE REASONS WHY YOU CANT DO IT YOURSELF (DIY).

There is a lot of embarrassment when one's house is sold after a failure to service a loan. Your image also is tarnished by the label of a bad debtor that is hung on it. It therefore, calls for wisdom when one considers getting mortgage finance. This article will share with you just a piece of this wisdom which I believe can do many a borrower much good. This wisdom or advice is that when you borrow remember that your tenants should service your loan.

SELLING YOUR HOUSE ? THREE REASONS WHY YOU CANT DO IT YOURSELF (DIY).

Selling your house is a process about which DIY (do it yourself) doesn’t work. Many people tend to prefer the DIY way when doing various things in their lives. Probably, this is the reason why some manufacturers sell refrigerators with some parts like handles not installed but having some kind of inlets for the consumers to do it themselves. There can be many reasons why people prefer DIY. These ranges from the contentment that comes after one successfully achieves a personal task to the possibility of saving the hard earned money. Selling your house however, is something that you cannot achieve the DIY way because you compulsorily need help from other people who have trained to give special service to the complex process of selling immovable property. There are many reasons why this is so but here I will give three.

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TENANTS SHOULD SERVICE THE LOAN FOR YOU

Rental income is due to the landlord so in accounting terms it  increases your equity in the property and reduces the loan. Its therefore advisable to purchase property in areas that have a good rental market. In Harare these areas are those close to the CBD like Mainway Meadows, Belvedere, Southerton to mention only a few. The biggest advantage of this approach is that this allows the mortgagee to ease pressure on his or her income thereby enabling it to satisfy other financial obligations like bills and tuition fees.  

DISCLAIMER: This article does not replace advice you should get from your subject matter experts or property advisers.

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