should i sell or rent?

pors99

I have the oppertunity to work abroad (canada) i also have a house, which is currently on the market.

The problem is the house is next door to noisey neighbours, i am selling 'cause i don't want to live next door to them.

question is should i keep my house and rent it out covering the mortgage etc

or
Do i sell keep the equity (if i sell @ stupid price still will have approx 25k after fees, paying off mortgage penalties etc) in a B/A high rate gain intrest and come back in a year and buy a house ?when house prices might have fallen further.

any thoughts?
:cool:

AntWal

Well house prices are likely to continue falling. If you took the money now, then if you ever wanted to buy again in the UK it would serve as a deposit. If property prices fall, then your cash will be a larger percentage of the purchase price when you do buy.

Also, letting a property when you are overseas is not that easy. One bad tenant causing damage, and you have to get someone to repair and redecorate the place to be fit to let it again, or any period with no rent coming in, or waiting months to get an eviction with no chance of getting the rent arrears paid, any of these can leave you paying the mortgage and seeing your capital drain away. I'd take the money. If property prices were going up it could be worth the bother, but as they are going down I'd sell.