There are certainly some things that make sense to rent while travelling (a car, for example, assuming you will not be using one extensively – in that case, consider buying one). However, some things you simply dont leave to chance that you are getting what you need, and that is safe and sound.

I do know people who have travelled with small children and rented items along the way, like strollers and high-chairs, booster seats, things of that nature. Just keep in mind, especially when travelling to less developed countries, that their standards (and frankly, the level of honesty with regard to giving you what they say they are) can be very different.

Items that are key to yours and your chilren’s safety really need to be investigated carefully. In some countries, you will not be required to have an infant car seat, but that doesnt mean you shouldn’t. Also, note that the standards by which car seats (and other safety items) are judged can be much less rigorous than in N. America…

If you do plan on spending a significant amount of time behind the wheel while travelling, make sure you research the standards/ratings required in the country you’re travelling too. Personally, if I’m travelling to a less developed country with my children and plan on driving, I’m either bringing my car seat(s) with me, or I’m doing some major research to buy a good one whilst there. It DOES suck lugging around a car seat, but, then again, buying a new one while travelling (and not be confident of its quality/safety), sucks a lot more!

If you can manage it, just bring yours with you (of course, that assumes you like and trust the one you have)! If you’re not sure the one you have now is what you need, then take the time and research and buy a new one BEFORE YOU GO. It will make your travels less stressful, and will be something you can use with confidence when you return!

Good luck and safe travels!!!
Carrick

We returned to the UK in January 2008, but we chose to keep our house rented out and rented an apartment for us instead. It’s cheaper and, after living out of a rucksack for a year, it felt spacious enough! I doubt we’ll ever live in our house again – we’re heading off again in April this year – but we know it’s there for capital or a roof over our heads if we need it in years to come. And meantime, someone else is paying our mortgage – hurrah!

If you aren’t quite ready to let everything go, keep it. Flip side is, imagine being on a beach in Bali and having some BS go wrong with your house, or tenants you need to evict or … etc etc…

Another thing is, if I decide to live somewhere when I get there, I can do it, no worries no attachment.

For me the decision was simple, sold it along with all the furniture, no regrets.

Unless “long term” means more than two years, you’ll likely find that the transaction costs of selling and rebuying a home in the same area exceed the savings realised by selling in the house for the trip. But if you want to move, it’s as good a time as any.

There is of course, the 4th criteria – you can take your trip without tapping into your home equity (or tapping more than you’re willing to tap as a loan).

My wife sold her condo before we did our big trip (this was before we were married, and I was not a homeowner at the time). It was the only way we could both go, but in retrospect it probably cost about $60 or $80k as the housing market exploded during the time we were gone, and during they year we spent saving up our down payment. I don’t regret it, as the trip was an amazing experience, at the right time, and worth every penny including the housing loss.

But if I could do a trip without selling my home, that would definitely be my preference.

We are budgeting for our trip using worst case scenarios. In order to pay for the mortgage, property tax, Homeowner’s Association fees, homeowner’s insurance, and a small amount of extra money that can be used for maintenance…we will need about $1,000 per month. If we can get our place to be rented for $650, we will need to dedicate $350 to offset the extra costs. $650 is a pretty safe renal rate as places comparable to ours are renting for more like $750 – $800. Therefore, the higher we can rent our property for, the better off we will be. In addition, we intend to offer a furnished rate if the renter wants to take it. I think it would be a small fee…perhaps $50-$60 each month. We’re hoping someone takes this offer because it will prevent us from getting a huge storage unit, which would cost more money.

All in all, we hope this works. I enjoyed this post. This is the first time I’ve been to your site. I think I’ll give you guys some linkage!

http://soultravelers3.com/2008/06/how-to-do-exten.html

“Housing tends to go in cycles. Look closely to see if the trend is going up or down. If the trend is at the beginning of a downward spiral or at the peak after a long booming market as it was for us, it is far wiser to sell when it is easiest to do it and at the best price. We know other around-the-world families who missed this and some are still having a hard time selling at a much lower price. If the trend is at the beginning of a major upswing, after being down for a long time, it is often wiser to rent out one’s house.”

I’m not sure where you live, but I think everyone must re-frame/re-think their false assumption that “homes always go up” or that owning a home is an investment.

If you do not own your home..ie paid in full…it is a liability, NOT an asset. You are renting it really from a bank.

Everyone should read Yale prof Schiller’s post & chart on what housing has done in the last 100 years to get a more accurate assessment.NYT has more info on it tracing it even much further back in the Netherlands.

I personally do not think it is a good time to own a home & we are so very happy that we sold ours in 2005, at the top of the market, before we left on our open ended world tour. Many thought we were crazy to do it, but time has proven it to be a wise choice.

Of course, if you are sure you are only traveling for a year,that will impact your choice. Might you add on time? The travel lifestyle will change you mightily & that will also impact.

We were very attached to our dream home that we put a ton of work into, but have not missed it at all & not having to worry about it has given us much more freedom in our travels.

Recently I posted a good article on twitter showing that housing will continue to fall in many areas for 25/30 years!

You might also want to read some of the links I left in one of my first posts in 2006 on our blog, called “Timing is Everything”.

If you think out of the box for travel, remember to do it in other areas.

HTH Good luck!

Selling doesn’t seem to make much sense because we wouldn’t get much for it with the slow appreciation in Japan.

Mortgage rates are less than 2% so a high percentage of our payments are going towards paying off the principal. That makes it a decent long term investment

Renting out in Japan is probably a lot less risky than other countries, but we are not sure if we need to have a home base or not. It sure would be nice to have a comfortable place to return to, but we are not sure if it is worth the expense at this time.

Maybe we should house swap? Are you interested in coming to Japan for a couple of months? It would be great to swap houses with a small group of nomadic people around the world that we could trust.

I’d be interested in what you consider maintenance costs. I’d say take that number and multiply it by at least 1.5 or 2. Alot of unexpected things can happen to a house. Additionally, even if your house sits empty, you still need to maintain it for it to keep its value.

Sounds like you are lucky to have a property and not be upside down on the loan. I’d personally consider selling it. I would not consider doing long term travel while owning a property no matter how much I trusted the tenants or property management company or whatever arrangement I could setup.

Since you’re going for a year, I say it would likely be better for you to keep it and rent it out then go through the whole sale process only to turn around and face it again right when you get back.