Buying & Renting

UserElla

Ha Thanks turnbu. Indeed thas why in a way i would like to buy a house and rent my flat out, especially as in the area i live its a wanted area for renting as i live next to a school and safe neighbourhood.

Will see how it goes, idea of having a house is very tempting.

markchris07

Thanks, But I stayed in us brought the property in uk. So Only mentioned in Dollar.

RupertTheCat

I would say that if you can't afford to lose a month's rent due to void periods then you shouldn't be considering a buy to let property. Because you will have periods when you don't receive a full month's rent due to maintenance and repairs. For instance, I have a property which in the last 6 months I have only cleared 2 full months rent due to work needing to be carried out on it.

A buy to let property is a business and it needs to be treated as such. If something needs fixing it needs doing straight away, you can't just leave it as you might in your own home. And quite often the repairs to a property after a tenant have left exceed the tenancy deposit so that's more income you lose.

UserElla

Thanks Rupert! The thing with maintenance and most repairs my hubby can do them as he is a builder (apart from any gas or electric) of which i intend to get British gas Landlord insurance and that would hopefully
clear most of the cost. As i mentioned my flat is in really good condition, kitchen refitted a couple of years back, combi boiler same. But I know that we can never be sure what might come our way.

The idea of renting out seems good for now but scary at the same time. I can do my own accounts too so wouldnt need an accountant so that would save me some money too.

Undecided for now and i will speak to my broker again.

Thanks for your reply

BitterAndTwisted

Some leases preclude being able to sub-let so you should look into that before making any plans.

markchris07

I am also uk Person But stay in USA. My property are in Uk only pls guide me

Yorkie1

markchris07 wrote: »

I have question about the tax if i buy a property $400000 how much tax could i want to pay and Is that I want to consult with my accountant

markchris07 wrote: »

I am also uk Person But stay in USA. My property are in Uk only pls guide me

OK. Can I suggest you start a new thread, rather than interrupting this one?

If you set out in your new thread exactly what you want to know. Are you asking what tax you will pay in the UK if you buy a property in the UK worth £400K sterling? Or something else?

Accountants aren't usually involved in house purchases - solicitors do that work - but if you have other properties or it's complicated then the answer might be different. Anyway, start a new thread and then people might be able to answer you properly.

markchris07

An aggregate of local initiatives will not deliver the homes we need. Current provision is only a third of what is needed. Government at national, and regional level where it still exists, has a shared responsibility for deciding where homes should go and for funding the infrastructure to support new communities

Guest101

markchris07 wrote: »

An aggregate of local initiatives will not deliver the homes we need. Current provision is only a third of what is needed. Government at national, and regional level where it still exists, has a shared responsibility for deciding where homes should go and for funding the infrastructure to support new communities

What are you talking about?

G_M

Guest101 wrote: »

What are you talking about?

post-building.

reported as spam.