Dave Says: Finances and Your Engagement
Dear Dave,
I’m getting married in December. My fiancé lives in Tennessee, and I live in Alabama. She will be moving down here, but she owns a house near Nashville. We could handle the payments for a few months, but considering the tough housing market, what’s the best thing for us to do with her place?
– Brian
Dear Brian,
Congratulations on your upcoming wedding! I hope you’ll be good to each other and have long, happy lives together.
If I woke up in your shoes, I’d go nuts on that house – fix everything that needs fixing, paint, and clean the place like crazy. Then I would put it on the market at a good, aggressive price. If you’re lucky, you might find a buyer before the big day.
You’re not in a position where you have to give it away, but I’d be willing to sacrifice some money in order to have the hassle out of my life. Forget the cheese, just let me out of the trap, you know?
Even when you love someone, there’s a lot of stress that comes with getting married and starting a new life together. You don’t need a big financial burden hanging over your heads.
Still, it’s not the end of the world if it doesn’t sell quickly. Being a landlord from a distance is a tough assignment, but if worse comes to worse you can rent it out in the spring for a year or so. After that, try selling it again when, hopefully, the market will be better!
– Dave
