House Dilemma

UFO_8

Thanks for the constructive comments.

I don't have to rush into a decision, but I would like to have some plans in place. I have reduced the price, but the house is situated on a new build estate, with some ongoing building work. The house was only used as a bolt-hole as I worked in the area. It is, 'As new.'

I appreciate we are probably at the top of the current property cycle, but I still think a sensible BLT (probably at the lower end of the market) is a secure long term investment. I would prefer to liquidate the asset so that I could choose when to reinvest, but if my choice is limited then the BLT route with this home is probably the answer.

A link as requested - be honest.

http://www.rose-sargent.co.uk/si.cmsx?itemID=1355&propertyID=291446&searchID=853698

KingKenny

Nice House, but you have one main problem, it is a new build, and if there is a downturn in the market. I say if, because i have no vested interest either way, then you will find the new build will probably fall first, and at the fastest rate.

Its up to you, but how long have you owned it, so what year/month did you purchase it, and what price did you pay.

I ask becauses if you go for " I am in it for the long term route BTL" then good luck. But long term, so waiting for capital appreciation, could be really long term, maybe 10 years minimum.

Its much dependent on the global economic outlook, its just houses do not look a very attractive investment over the short period, we have just had the biggest BULL run in history, the big boys got out a while ago?

If Jag and LR go down hill over the coming years, things do not look good for the West Midlands, and the housing market will suffer, i think the down turn is well underway, we are just going through the stagnation period, and entering the seller denial period, where people refuse to accept that they cannot sell there property, so will not reduce. Properties will sit on the market for months and years, then its too late you are chasing the market down. I have seen it in the early nineties, and it is no different this time, just a much bigger bubble!