Owning A House As A Digital Nomad?

The world has changed drastically with more and more people choosing to work from home or work from a remote location. This has allowed people to live with more freedom and relocate to places in the world that can offer them a better lifestyle and standard of living. For example, a British citizen may choose to retain their citizenship and home in the UK but spend most of their time in a warmer climate. What therefore happens to your home if you live as a digital nomad and is it possible to still own a property in the UK if you are traveling the world?    

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The Pros Of Owning A House As A Digital Nomad

Depending on how much you intend to return home, the only real option available is to rent your property so that you can receive a regular income. This income can then supplement your lifestyle as you travel the world and live as a nomad. This can be a significant benefit.

In terms of the type of rent, there are now more options available than the standard full-time rental contract usually based on a 1-year Assured Shorthold Tenancy (AST). For example, there are holiday lets through Airbnb which means that your property is not rented every day throughout the year and rather is only let sporadically as a holiday let.

You can also block out certain periods when you intend to return home so this can work well. It is not as secure and consistent as a normal rental contract, but these are options that you need to weigh up. Whether it is better to have a full-time tenant or rent your property out as a holiday is a personal choice, but it’s important to note that if you have a full-time tenant then your property or home will not be available to you if you choose to return throughout the year. Overall, the main benefit to owning a property if you are a digital nomad is to secure an income whilst you are away and help supplement your living and travel costs.  

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The Cons Of Owning A House As A Digital Nomad

Owning a property always comes with responsibility, especially in terms of the maintenance of a property. Naturally, if you are living at home then you want to keep your home well maintained, but if it is a property that you don’t live in and rent out, then management also comes into it. You need to make sure that the property is maintained but you will also need a management company to take care of the tenant.

If you opt for a holiday let, then there is also the element of people constantly coming and going, checking in and checking out. Many people like to manage their holiday lets personally, especially if they live near to the property. Alternatively, a friend or neighbour can hold the keys to the property but there is still the point of cleaning so that the property is ready for the next guest. Renting your property as a holiday let sounds attractive because of the flexibility and allowing you to also use the property when you are back, but there are considerable challenges related maintenance, management, cleaning, and checking people in and out.

If you decide to simplify the process and rent out your property full-time then not only can you not return to use the property throughout the year, but you are also subjected to the risk of people not paying their rent. If you have a mortgage to pay, this can cause considerable stress.

 

What Is The Best Way To Sell A Property As A Digital Nomad

Whenever you are trying to sell a property, there are a number of challenges that you face, and these challenges can become tougher if you are not in the country. First of all, there is the issue of trying to find the right estate agent to sell your property. If you choose the wrong one, this can waste a lot of time. And trying to find a new estate agent when you are living the life of a digital nomad is no easy thing.

The next big challenge is time. If you need a release of cash because you are traveling, then you may not be able to wait the standard 6 to 12 months for your property to sell. And even if you find a buyer through an estate agent, this buyer could fall through, and you are back to square one meaning that you are no further forward with securing that much-needed release of cash.

The fastest way to sell a property is to a cash buyer and the most secure way to find a cash buyer is to use a company that actually buys properties for cash. In other words, they use their own money to buy your property rather than try to find an investor, which can once again take time. You can read further about cash property-buying companies on our What Is A Cash Property Buyer page.

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Serene Homes is a leading property cash-buying company that can buy a property within as little as 7 days. Everything can also be done remotely meaning that you do not even need to be in the country to sell your property. The process is very straightforward and involves only three simple steps. More information on how to choose a house cash-buying company can be found on our What To Look For In A Property Buying Company page.

When considering each step of the Serene Homes process, it is possible to understand how each part can be done remotely. You place your details on the Serene Homes website, wait for a call to discuss your property, and then discuss the next steps. This is all done remotely. Even the booking in of the free survey can be done remotely as long as you can arrange access to your property. The survey then comes back, you are offered a final price – which you are free to accept or decline – then completion of the sale of your property takes place. All in as a little as 7 days, or whichever timeframe suits you if you require more time.

Serene Homes will buy any property in any condition and in any location. Our friendly team has vast experience in selling property across the UK and dealing with people who are based abroad. Contact our team today to receive a free valuation for your property and learn how quickly and stress-free your house sale can really be.