Rent out house to test the waters

tanith

My OH really wants us to move out of London.. he is still working and I am about to retire. My kids and family all live closeby and although I would quite like to live either in a small village or by the sea I worry that we would find it too quiet or never see family and friends... We are both London born and bred...

What I propose is that we rent out our 2bed house in West London on which we still have a fairly small mortgage and rent something in our chosen 'quieter' spot...... I guesstimate that we could rent our nice home for £900 to £1000 pm this would comfortably pay our current mortgage and insurance and we would be left with approx £500 to rent somewhere , leaving us Mortgage and rent free. OH would have to find a job in our chosen area and I too could find something P/T maybe. By doing it this way if we changed our minds we could then come back to living in our West London home...

I'd be interested to hear of anyone who has done anything similar or if anyone sees any obvious pitfalls that I am missing....

thanks

clutton_2

i think it is a brilliant idea !!!!! - you would get the feel of a different area without the huge expenses of selling and then finding out you were not as keen as you had originally thought. Do find a good letting agent for the london property - but do talk to a few to find out what the demand is in your part of london.

i have been thinking of doing this myself in the future

best of luck

david29dpo

i agree. what an excellent idea. good luck.