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To Sell or Let?

2»

Comments

  • GDB2222
    GDB2222 Posts: 26,563 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Skinto_7 wrote: »
    Looking round about the £60k mark for a sale.

    And £375 pm for rent


    Allowing for interest at 5%, your monthly mortgage interest payments will be £250. You would think that £375 a month will cover that easily, but the agents will take about 15%, there will be repairs and replacements over the years, insurance, gas safety checks, and so on. The average rental property is void for 5 to 6 weeks a year according to the Association of residential letting agents. By the time you have factored all that in, there will be very little left over to pay capital back on the mortgage.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • DannyboyMidlands
    DannyboyMidlands Posts: 1,880 Forumite
    Skinto_7 wrote: »
    Looking round about the £60k mark for a sale.

    And £375 pm for rent

    A 7.5% gross yield is lowish and not worth the hassle in my opinion.

    I'd sell it. You got the new place cheap so should be up on aggregate.
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