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Letting your own house.
Prudent
Posts: 11,654 Forumite
I own a 1970s 3 bed semi in a nice area. Over the past couple of years my partner has been living here while converting his Victorian semi. We had originally planned to sell his house and live in mine. OH has worked very hard on the renovation and we are both surprised by how lovely his house is now. I know he would love to keep his house, so we are considering moving in there rather than selling. The dilemma is what to do with my house.
I bought mine in a terrible state 12 years ago (all I could afford) and have gradually renovated it to a good standard, so have an emotional investment in it too. I am usually a very pragmatic person, but I am wondering if letting a property that has been my home is a good idea. The other option is of course to sell it.
I am just wondering if anyone has any experience of letting their own house and how it turned out?
I bought mine in a terrible state 12 years ago (all I could afford) and have gradually renovated it to a good standard, so have an emotional investment in it too. I am usually a very pragmatic person, but I am wondering if letting a property that has been my home is a good idea. The other option is of course to sell it.
I am just wondering if anyone has any experience of letting their own house and how it turned out?
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Comments
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If you have a strong emotional attachment to your home then you might find it difficult to let out. Letting property is a business so you'd need to put your emotions to one side and get your business head on.0
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the very fact you have titled this thread letting your own house strongly suggests that you will be unable to break the emotional attachment and therefore could easily become the LL from hell as you try to micro manage how any tenant uses "your" house or behaves in it
it you are unable to divorce yourself from it and treat it purely as a business asset then the last thing you should be thinking off is letting it0 -
http://forums.moneysavingexpert.com/showpost.php?p=41160642&postcount=12
https://forums.moneysavingexpert.com/discussion/4765736Never, under any circumstances, take a sleeping pill and a laxative on the same night.0 -
the very fact you have titled this thread letting your own house strongly suggests that you will be unable to break the emotional attachment and therefore could easily become the LL from hell as you try to micro manage how any tenant uses "your" house or behaves in it
it you are unable to divorce yourself from it and treat it purely as a business asset then the last thing you should be thinking off is letting it
I would be very determined not to do that as I remember those kind of landlords from my student days, but yes I am concerned that the emotional attachment is the problem. I think I would be very, very picky about selecting the tennat initally.0
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