Is letting my house better than selling - (buying new house too)

silvercar

I agree with your logic doozer-girl.

I think Andy is looking to do it for emotional reasons - to buy the house he wants, not purely financial.

This was exactly the reason we did it last year. You can laugh now and say we are subsidising our tenant. We are, as the mortgage is now about the same as the rental income and we still have the deposit money tied up in the house, but it enabled us to move to the house we want at the time we wanted to. Had we not done it, we would have lost our second buyer and not had a house to buy. Having to start all over again in the house moving malarky would have been so painful, I'm glad we made the choice we did.

Andy_ArT_Trigg

Thanks for all your advice. It seems that people may be jumping on the buy to let bandwaggon. I assumed as so many were doing it that it must be a good earner. I expect the truth is that for ordinary punters, it's probably not a great idea. The people making the money are probably buying very cheap.

Doozergirl

Andy_ArT_Trigg wrote: »

The people making the money are probably buying very cheap.

You've got it in one! I think if you were to go for BTL then it would be far better to seek out properties at below their market value (which is quite hard work!) rather than plonk with what is in front of your face; it's unlikely to be a suitable property.