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£2000 ready to invest?
shawthedogs
Posts: 5 Forumite
im after some advice, i have around £2000 spare and i wonder weather to pay £2000 straight of my old property which i rent out or do i go for new windows and doors through out. the house is a terraced house the state of the windows are about ten years old but are not in too bad nick and the doors are about 6 years old but are wooden ones and not pvc. advice much appreciated. thanks james
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Comments
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personally i would not do either , stick it in a isa its a nice buffer and sucurity for you , so important in this day and age ! £2000 cash is a awfull lot of money at the moment0
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Assuming the property is let at the moment I wouldn't bother to replace doors and windows just yet, given the disturbance that causes (especially windows) it would be better to leave it until you have a void between tenants.
What sort of mortgage do you have? If it's a BTL interest only then paying anything off it will just reduce the amount of interest payments that you are able to offset against your letting profit, so you may not gain much overall.
I'd be inclined to put the £2000 somewhere where it can earn what passes for reasonable interest these days, is not easy to get at (but not impossible either) and wait until you really need to use it.0 -
If the windows/doors are 10/6 years old do they actually need replacing or just a coat of paint. Even 10 years sounds a very short period of time for them to have got to the point of needing replacing.
As per the previous post I would keep the cash as a buffer in case you need any essential repairs in future.Remember the saying: if it looks too good to be true it almost certainly is.0
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