Can I let my house in order to buy another?

sammyjammy

Why don't you just drop the price in order to sell it? Let the market decide its worth.

mama21

started off at £300k so we have done that... we have added issue of neighbours who are 'vetting' potential buyers when viewing and if they don't like the look of them they are misbehaving!!

getmore4less

It does not matter how you wrap up the numbers you are borrowing what this place is worth(or you think it is worth) if you buy somewhere else.

If you can't sell it now try thinking about selling with a tenant in situ in x months time.

How much would you be offering for that new place it was let out?

BTL say 2% setup costs(on £159k thats £3k down before you start)

Even with interest free money from family you don't break even for a few months, voids at end when you come to sell will soon eat up any profit.

Whats the rental cost on the house type you are looking for in the area you are looking at.

As for your neighbours
Perhaps you live next to Vig:rotfl:


If places were ever selling for £300k then count yourself lucky you did not pay peak prices.

mama21

thanks for your help...

I'm having second thoughts... sums don't really add up - and I know it isn't ideal but my sanity is on the line so was considering anything!!

getmore4less

mama21 wrote: »

thanks for your help...

I'm having second thoughts... sums don't really add up - and I know it isn't ideal but my sanity is on the line so was considering anything!!

Nothing wrong with looking at the options but too easy to not account for all costs. BTL looks easy but only works if the yield is decent

Do the sums for your real numbers(try not to spend too much).