Downsizing

zygurat789

seven-day-weekend wrote: »

Ha,ha, non Black Country people will not understand that one!

I do have a West Midland accent, but not a Black Country one (so I don't say Yam instead of You Are ).

I left to live in London.
When I came home I'd fill up in London and the next time I stopped was in Wolvrampton (viz). The difference in the accents was immediately apparent.
I've now been left nearly 50 years but three years ago a mere slip of a girl of 60 spotted the accent in me at a U3A bridge class!
So I guess you never really lose your formative years accent.

Errata

zygurat789 wrote: »

Being a landlord is hassle, tenant misbehaviour, none payment, no tenants, tax returns, maybe an accountant.
And has been pointed out your house will not be yours any more although you will still own it.
Whilst you are by no means old, do you really want to put yourself through all that.
Take the money, you could invest £15K each in an isa each year, some in cash some in a good safe investment, nothing fancy just solid.
Then you can sit back and enjoy
Hey Errata sounds as if she is from round our way.

Not remotely but I remember posts from SDW about the rubbish being piled up in front gardens and a bit of ASB in her street.
What would I do? Sell it and buy a couple of flats (like the one she helped her son to buy), that I would have no emotional attachment to and would treat them as a business.

seven-day-weekend

Errata wrote: »

Not remotely but I remember posts from SDW about the rubbish being piled up in front gardens and a bit of ASB in her street.
What would I do? Sell it and buy a couple of flats (like the one she helped her son to buy), that I would have no emotional attachment to and would treat them as a business.

Yes we've thought of that too. It wouldn't be in that block for several reasons, but we haven't ruled out getting a couple of flats..

We still haven't decided really.

seven-day-weekend

Well we have now decided and we have appointed a well-respected local Estate Agent to market our house for sale. (Their blurb says they 'specialise in the more interesting and distinctive properties in Wolverhampton, Shropshire and Staffordshire', ). They have valued it today for more than we expected

When we sat and thought about it, we thought how much maintenance the house would need and how we would hate seeing our wildlife garden neglected. If we sell the house we won't have to do the maintenance and the garden won't be ours to worry about any more.

We will probably buy a new-ish flat to rent out, just for a home for the money really, although I will speak to a financial advisor first.

The bungalow is looking good, can't wait to move in now. The laminate floors are being fitted next week and the blinds shortly after. The plumber has replaced the radiators that were taken off for the plasterer and fired the system up, all is working well. The dishwasher has been plumbed in. Soon.... it will be all systems go!

Oh....and I paid the mortgage off this week

zygurat789

seven-day-weekend wrote: »

Well we have now decided and we have appointed a well-respected local Estate Agent to market our house for sale. (Their blurb says they 'specialise in the more interesting and distinctive properties in Wolverhampton, Shropshire and Staffordshire', ). They have valued it today for more than we expected

When we sat and thought about it, we thought how much maintenance the house would need and how we would hate seeing our wildlife garden neglected. If we sell the house we won't have to do the maintenance and the garden won't be ours to worry about any more.

We will probably buy a new-ish flat to rent out, just for a home for the money really, although I will speak to a financial advisor first.

The bungalow is looking good, can't wait to move in now. The laminate floors are being fitted next week and the blinds shortly after. The plumber has replaced the radiators that were taken off for the plasterer and fired the system up, all is working well. The dishwasher has been plumbed in. Soon.... it will be all systems go!

Oh....and I paid the mortgage off this week

I am no property (or any other kind) of expert but I have seen a couple of articles in the financial pages of respected newspapers concerning the BTL market. They were confirming that the last year or so had been a good year because of the appreciation in property prices, which you have confirmed above. These articles also predicted that property prices would stagnate again next year. As with all investments timing is all important.
Although you may not have maintenance on a flat there is always the service charge which may be a very hefty amount if the exterior has recently been repainted.

missbiggles1

zygurat789 wrote: »

I am no property (or any other kind) of expert but I have seen a couple of articles in the financial pages of respected newspapers concerning the BTL market. They were confirming that the last year or so had been a good year because of the appreciation in property prices, which you have confirmed above. These articles also predicted that property prices would stagnate again next year. As with all investments timing is all important.
Although you may not have maintenance on a flat there is always the service charge which may be a very hefty amount if the exterior has recently been repainted.

A well run block should have amassed money in a sinking fund to pay for this when it's needed - not after the event. Very low service charges should be avoided for that very reason.

seven-day-weekend

Yes, I am aware of service charges (and length of leases!) and haven't ruled out a house, if we can get a newish one in a decent area for the money.

zygurat789

seven-day-weekend wrote: »

Yes, I am aware of service charges (and length of leases!) and haven't ruled out a house, if we can get a newish one in a decent area for the money.

There used to be a fair bit of terraced housing between you and Tettenhall Rd.

seven-day-weekend

zygurat789 wrote: »

There used to be a fair bit of terraced housing between you and Tettenhall Rd.

Yes, there still is, but if we'd wanted a house like that to rent out, we'd be keeping our own. Too much potential maintenance. There are some newer ones up the road at Perton however.

http://www.rightmove.co.uk/property-for-sale/property-34457109.html

zygurat789

seven-day-weekend wrote: »

Yes, there still is, but if we'd wanted a house like that to rent out, we'd be keeping our own. Too much potential maintenance. There are some newer ones up the road at Perton however.

http://www.rightmove.co.uk/property-for-sale/property-34457109.html

Is the aerodrome still there?

Cost/rental comparisons could be indicative