We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Should I Sell or Rent?
sun8eam
Posts: 42 Forumite
Hi,
I am thinking of selling one of the two properties that I own in order to pay the other one off. There has been enough equity built up to allow me to clear the mortgage of the home that I intend to live in.
I am really not sure on whether to rent it out again as I have done previously or whether to sell and become mortgage free.
Is it really worth me being a landlord again with the hassle of two mortgages to pay in the years ahead or shall I sell it and save/invest for my retirement instead?
Thanks
sun8eam
I am thinking of selling one of the two properties that I own in order to pay the other one off. There has been enough equity built up to allow me to clear the mortgage of the home that I intend to live in.
I am really not sure on whether to rent it out again as I have done previously or whether to sell and become mortgage free.
Is it really worth me being a landlord again with the hassle of two mortgages to pay in the years ahead or shall I sell it and save/invest for my retirement instead?
Thanks
sun8eam
0
Comments
-
I've never been a landlord,nor would I want to be after reading of the horror stories or demands from tenants on this board.
What I do know is that clearing your mortgage as quickly as possible & actually fully owning your property is a rather wonderful & comforting feeling. Added to that is the extra money in bank account that used to go towards paying off the mortgage.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Hi cattie, being a landlord can be problematic but I suppose one has to be lucky in finding good trustworthy tenants in order to make things workout.
Thanks for your advice that is exactly how I am feeling right now. I have been a landlord for over 5 years with previous good tenants but as I am in my late forties now and in quite a stressful job, a voice in my mind keeps telling me to sell this spring whilst house prices are on there way up and start to enjoy life and maybe get a less stressful job too!
sun8eam0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards