In this falling real estate market, many people are either unable to sell their homes, or they’re holding on to a house that’s worth less money now than when they bought it. If you are in a similar position and not sure what to do, why not consider donating the property to charity?
While this may sound like a radical idea, it can actually save you a great deal of stress, energy, as well as thousands of dollars.
The stress that comes with owning an unproductive property can be immense, as you continue to make monthly payments and perform regular maintenance on a home that is losing value. You’re paying property taxes and other bills each month, the costs of which you know you won’t recoup through a sale.
By donating your property to charity, you can free yourself from this burden. No more will you have this albatross around your neck; you will be free to put your monthly payments towards more productive investments like new real estate purchases or setting up a retirement fund.
Selling your home for less than you paid is more than just expensive, it’s depressing! After all the hard work you’ve put into a...
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