Homeowners in Philadelphia can learn something from the story of personal finance blogger Hank Coleman, who used to live in North Carolina but had to move to another state for work reasons. Coleman wrote that when he and his wife purchased their first home in NC six years ago, they were practically clueless about the dynamics of real estate and were only too happy to find a home they liked through an agent.
When they moved to another state in 2012, Coleman had the “bright” idea of renting out the house to earn extra cash he could set aside for retirement. Unfortunately, the idea wasn’t as bright as he anticipated, and he and his wife eventually decided to sell their house. This is when he realized he’d made some preventable mistakes.