Shall I sell rental flat?

Poppy_Kennedy

Hey all

I have a studio flat in Surbiton surrey that I bought 5 years ago to live in, but ended up meeting husband and living with him ANYWAY!

I have about 45,000 equity in it to date. Lease is about 97 years

Husband says to keep it for a few years longer to get more equity but im worried about the lease getting lower.

Would it be silly to sell now due to this or just keep it longer and then extend just before I sell up as say 2-5 years time it could be worth a lot more.

Im not sure how much a lease extension is but it think the lower it goes the more expensive it is to renew?

Im scared that I will be stuck with a 90 year lease, a freeholder that will charge ridiculous amount to extend and no one will want to buy it.

Bit of a worrier really but wanted your thoughts?

I worked very hard to get this flat and I want to do the right thing – unfortunately I do not have any family/friends who know enough to advise on best options

Many thanks all

RedTomato

I wouldn't worry about the difference between a 92 and 97 year lease, I don't think it would bother a buyer and most people don't bother to extend at that level of years remaining.