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Please help me decide! Rent/ sell ?!?!
Comments
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Maybe you are not charging enough rent?
N.Never be afraid to take a profit.
Keep breathing. :eek:
Just because I am surrounded by FOOLS does not make me wise. :j0 -
£500 per month would seem fair although I do not know the area or similar, just a fair return on your investment.
N.Never be afraid to take a profit.
Keep breathing. :eek:
Just because I am surrounded by FOOLS does not make me wise. :j0 -
£500 per month would seem fair although I do not know the area or similar, just a fair return on your investment.
N.
My mortgage is £650 per month!:silenced:They Were Up In Arms wrote: »I think tabskitten is a crying, walking, sleeping, talking, living troll :cool:0 -
Try your mortgage company for a reduction then shop about.
N.Never be afraid to take a profit.
Keep breathing. :eek:
Just because I am surrounded by FOOLS does not make me wise. :j0 -
IO - i think..........:silenced:They Were Up In Arms wrote: »I think tabskitten is a crying, walking, sleeping, talking, living troll :cool:0
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I've probably got this completely wrong, but here goes...
You say that you're making a £50 per month loss. But you are buying a property so is that so bad? Isn't it the case that you're buying a flat for just £50 a month?
Just before the crash in the eighties my cousin and his wife bought a flat at peak prices. By the time the crash hit she was expecting a baby and the needed to move. But they were in negative equity. I don't know the ins and outs of it, but they ended up renting out the flat and getting a second mortgage to buy a bigger place for the new family. It was a dreadful time for them, but a few years down the line house prices shot up again and they made a killing on that little flat.
I would hate to be in your situtation as renting would definately stress me out. But try and think calmly about what the benefits *might* be rather than sell out of panic. Maybe selling is best, but think it through carefully. Perhaps list the pros and cons of each option?0 -
Deleted_User wrote: »I've probably got this completely wrong, but here goes...
You say that you're making a £50 per month loss. But you are buying a property so is that so bad? Isn't it the case that you're buying a flat for just £50 a month?
Just before the crash in the eighties my cousin and his wife bought a flat at peak prices. By the time the crash hit she was expecting a baby and the needed to move. But they were in negative equity. I don't know the ins and outs of it, but they ended up renting out the flat and getting a second mortgage to buy a bigger place for the new family. It was a dreadful time for them, but a few years down the line house prices shot up again and they made a killing on that little flat.
I would hate to be in your situtation as renting would definately stress me out. But try and think calmly about what the benefits *might* be rather than sell out of panic. Maybe selling is best, but think it through carefully. Perhaps list the pros and cons of each option?
err no- i bought it 2 years ago- i rent it out and the rent leaves me £50 short on the mortgage i pay...........:silenced:They Were Up In Arms wrote: »I think tabskitten is a crying, walking, sleeping, talking, living troll :cool:0 -
I think that the market will pick up- i guess i just need to hang in there and wait to sell- and hope the tenent is bluffing about moving out unless i reduce the rent.........:silenced:They Were Up In Arms wrote: »I think tabskitten is a crying, walking, sleeping, talking, living troll :cool:0
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Deleted_User wrote: »You say that you're making a £50 per month loss. But you are buying a property so is that so bad? Isn't it the case that you're buying a flat for just £50 a month?
Indeed you are buying a flat which is only costing you £50 month. As long as your tenant doesn't muck you about, deafult on the rent or trash the place you're doing OK, I reckon0
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