Should I sell my house?

ZTD

Bigbubble wrote:

Thanks ZTD - So nice to come across someone who tells it as it is!

Funnily enough, there's lots of people who don't like me for that exact same reason. :eek:

Bigbubble wrote:

I'm fed up with always hearing people using such nice correct psychobabble terms that you don't even know what point they are trying to make half the time! (I'm referring to work not MSE!)

I do that all the time, but only when I'm being satirical. :rotfl:

Bigbubble wrote:

Sorry for ignorance - what did happen to her!

She killed herself - apparently through lack of sleep (because of guilt - though the pressure of supporting Macbeth may have played a part). Now all I need to do is purge all memories of Macbeth and all other school English Lit from my brain, and I'll be a happy bunny once more...

Bigbubble wrote:

You're right about selling the house appearing a 'quick-fix' option and in a way I hope it is - but I hope/believe I have had a genuine 'lightbulb moment'.

Have you started to live the lifestyle of the DFW? Even the experienced are finding it tough right now (I blame the weather). With the OH unemployed, and apparently in denial - I would suspect that your outgoings will exceed your income again without the immediate pressure/discipline of "being in trouble".

Bigbubble wrote:

I have never felt in such a self-inflicted black hell-hole of helplessness. The ridiculous thing is that - in my mid forties - 'our ways' have only become problematic over the last four years or so - we only ever had small manageable loans before that. I know that if/when we get out of this mess I will be paranoic about spending beyond my means.

You also need to be thinking about retirement. Twenty years isn't forever.

Bigbubble wrote:

Thanks again - any other 'straight talking' advice/comments welcomed!

You're welcome.

Bigbubble

Thanks ZTD

ZTD wrote:

You also need to be thinking about retirement. Twenty years isn't forever.

You've really cheered me up now!!!:eek:

ZTD

lynzpower wrote:

My feeling is that interest rate rises are going to hit those with mortgages first. Impact1-mortgage payments go up immiediately. At least in rented you are tied into a contract and thus the LL cant put the rent up legally.

They can raise rents (with the appropiate notice period), but they can only charge what the market will stand. If they charge too much, their property will stand empty. If the rent is less than their costs, that's a problem for them.

lynzpower wrote:

The key is if you look for an experienced LL, then think about when they got it, they may have bought their property some years ago when the cost was cheaper. So they dont need to be putting rents up, to cope with interest rate rises. thats my theory anyway! Dont know how it will work in practice!

In practice, having an experienced LL who hasn't bought in recent years means a LL who is less likely to go bankrupt. Having your LL going bankrupt can spoil your whole afternoon.

Yes they needn't put rents up, but in practice they will in general charge what the market will stand.

ZTD

Bigbubble wrote:

Thanks ZTD

You've really cheered me up now!!!:eek:

You've got twenty years. It isn't forever - but it still is quite a long time.

Do you remember what you were doing in 1986? That also was 20 years.