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  • FIRST POST
    • 50isomethingish
    • By 50isomethingish 7th Oct 17, 11:32 AM
    • 2Posts
    • 0Thanks
    50isomethingish
    Sell or rent views
    • #1
    • 7th Oct 17, 11:32 AM
    Sell or rent views 7th Oct 17 at 11:32 AM
    I'm currently building a house which I intend to live in for a couple of years before selling. I have the house I'm presently living in up for sale. I'm having difficulties selling my house and I'm now trying to decide whether to rent it for the two years or so that I intend to live in the new build. I'll probably realistically achieve 750 a month. I'm self employed at the moment and only pay myself a small monthly wage. This could end in 6 months time when I'll be looking for part time work. I'm trying to decide (if I can sell) whether it's best to have the cash and a part time job or the rental income and a part time job. If I had the cash I wouldn't intend to buy another property until I sold the new build. Any views would be appreciated
Page 1
    • Car1980
    • By Car1980 7th Oct 17, 1:29 PM
    • 215 Posts
    • 97 Thanks
    Car1980
    • #2
    • 7th Oct 17, 1:29 PM
    • #2
    • 7th Oct 17, 1:29 PM
    If your house isn’t selling any plan B will still leave you with a house you don’t want. If it’s not selling it’s usually priced too high.

    I’d want to be sorted before Brexit day in any case.
    • Cakeguts
    • By Cakeguts 7th Oct 17, 2:09 PM
    • 2,854 Posts
    • 3,907 Thanks
    Cakeguts
    • #3
    • 7th Oct 17, 2:09 PM
    • #3
    • 7th Oct 17, 2:09 PM
    I am a landlord. I have houses that have been let to the same tenants for over 10 years. Are you expecting your tenants to be happy to leave their home to suit you after 2 years? It seems nice from your point of view but tenants view your house as their home.
    • Dorian1958
    • By Dorian1958 7th Oct 17, 2:36 PM
    • 90 Posts
    • 56 Thanks
    Dorian1958
    • #4
    • 7th Oct 17, 2:36 PM
    • #4
    • 7th Oct 17, 2:36 PM
    Do you have any experience of letting property? If not, then go and do a lot of research, a book (I know) by David Lawrenson "successful property letting" was something I found really useful, there is a section on what makes a successful landlord, and questions to decide if it is right for you. One thing is for sure, becoming a LL is a serious move and you need to fully understand your responsibilities. After that, you may find there are easier ways to generate £750 ( before tax) - good luck!
    • 50isomethingish
    • By 50isomethingish 7th Oct 17, 3:35 PM
    • 2 Posts
    • 0 Thanks
    50isomethingish
    • #5
    • 7th Oct 17, 3:35 PM
    • #5
    • 7th Oct 17, 3:35 PM
    Thank you for the replies. I think I'm leaning towards reducing my house and selling. I just need some way of generating an income with the capital from the house fir 2/3 years
    • Crashy Time
    • By Crashy Time 8th Oct 17, 1:50 PM
    • 5,013 Posts
    • 2,157 Thanks
    Crashy Time
    • #6
    • 8th Oct 17, 1:50 PM
    • #6
    • 8th Oct 17, 1:50 PM
    If your house isnít selling any plan B will still leave you with a house you donít want. If itís not selling itís usually priced too high.

    Iíd want to be sorted before Brexit day in any case.
    Originally posted by Car1980

    Good advice.
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