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should I sell or should i buy another property?
potnoodle_2
Posts: 115 Forumite
Hi,
I have a detached bungalow that I was going to sell, but my buyers buyer has just backed out. I have offered on another house, had survey etc done and mortgage offer, but this house has no gas supply, needs quite a few quid spent on modernising and no outside parking, although has a garage near by. it is for sale for 200k, on south coast, in a local authority area. As my sale has temporarily halted, i am rethinking my options. My bungalow still needs work doing to it. we bought for 147k sept 04, and have done loads, added new kitchen, new bedroom, bathroom, landscaped 100ft garden, etc, but am selling for 159,500 for quick sale cos husband doesnt like living there. its 2 bed, and we have 2 sons growing quite large, no dining room. However there is nothing detached on market like it in that price range, nearest is around 200k, but ours is long and thin, cant build up, but i still think its going too cheap. anyway, I was thinking, should we keep bungalow, finish the bits that need doing, decorate, install new drive etc, and get a buy to let with the money? we have no mortgage, and i could raise around 100k for a new one, and as near portsmouth, can buy a terrace 2 bed in town for that, which we could rent out. this would be an investment for children.
so what would you do, sell, or stay and buy another?
I have a detached bungalow that I was going to sell, but my buyers buyer has just backed out. I have offered on another house, had survey etc done and mortgage offer, but this house has no gas supply, needs quite a few quid spent on modernising and no outside parking, although has a garage near by. it is for sale for 200k, on south coast, in a local authority area. As my sale has temporarily halted, i am rethinking my options. My bungalow still needs work doing to it. we bought for 147k sept 04, and have done loads, added new kitchen, new bedroom, bathroom, landscaped 100ft garden, etc, but am selling for 159,500 for quick sale cos husband doesnt like living there. its 2 bed, and we have 2 sons growing quite large, no dining room. However there is nothing detached on market like it in that price range, nearest is around 200k, but ours is long and thin, cant build up, but i still think its going too cheap. anyway, I was thinking, should we keep bungalow, finish the bits that need doing, decorate, install new drive etc, and get a buy to let with the money? we have no mortgage, and i could raise around 100k for a new one, and as near portsmouth, can buy a terrace 2 bed in town for that, which we could rent out. this would be an investment for children.
so what would you do, sell, or stay and buy another?
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Comments
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Depends how much your husband doesn't like living in your current home.
Can he face doing all the work and then moving or would he rather move quickly?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
i agree with silver car my partner and i have just bought a property and we viewed loads i fell in love with one and he fell in love with another and we both hated the properties that eachother loved
i think it comes down to if you husband would be willing to stay for say x ammount of time, this way he feels that he won't be living there forever and you both get to make some money to get a really nice place
i agree with what you say about a terrace house been an investment for your children but you also should think what if they move in and then don't move out for a long time will you be able to afford to keep the property?Well we finally did it got a house not on a main road, next a railway line or any other werid and wonderful things that get on my nerves!!!
:beer:
:dance:0
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