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Married with children?

Posted on 25 May 2010

After you get married, getting your first house is somewhat of an adventure. You probably were young and not making as much money as you could, the fact that you had just left school, adding to the weight of a probably expensive marriage, meant you had your savings in an all time low or maybe you were actually in debt. Of course your solution was to go around the banks and see what mortgage loans solutions they offered before committing to a payment plan on your dream house or apartment.

But as your family grows, the house rarely grows with it. And soon you may be left with the realization that your dream house, however dreamy, just doesn’t have enough room to accommodate your family. If this is the case, there are a few solutions that you can resort to.

The most obvious one is selling the house you own and using the money towards buying a bigger one. This, however, has the downside of being subjected to the ups and downs of the housing market and, if you want to sell it fast, you’ll have to go through a realtor. A good secondary option is renting out your house and using the money you get from the tenants to pay for the mortgage of your new house.

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