Should i sell or stay put?

economic

Hey

ive been having a hard time deciding what to do. i own and live in highgate and am thinking of three options:

- stay put
- sell to my brother (who is happy to buy) and buy 2 bed flat in west hampstead
- let out the flat and buy a 1 bed in west hampstead

price wise the 2 bed in west hampstead would be around 100k more expensive but i can afford it.

the main reasons for staying in either places are as follows:

highgate:
- more owner occupier and family feel
- more green open spaces
- quiet and no problem flat

west hampstead:
- better transport links so easier to get around and to work
- more convienient as has shops gym etc close by in one small high road
- more central

the other question is whether letting is worth it. i eventually want to move to a part time job so eventually the btl tax changes should hae limited impact on me (as i would move from 40 to 20% tax bracket). yield on the highgate place at current price would be around 3.5-3.8% gross.

what would you do and why?

thanks

Cakeguts

Let out the flat and buy in a much cheaper area of London so that you can work part time sooner.

economic

Cakeguts wrote: »

Let out the flat and buy in a much cheaper area of London so that you can work part time sooner.

that's a stupid idea.

NewHomeOwner_2

economic wrote: »

that's a stupid idea.

I was going to reply with my opinion but if this is how you reply to those that respond to you then I think I'll pass.

economic

NewHomeOwner wrote: »

I was going to reply with my opinion but if this is how you reply to those that respond to you then I think I'll pass.

apologies I didn't mean it but its just frustrating that I have laid out the options but yet I get completely different option.

economic

apologies I didn't mean it but its just frustrating that I have laid out the options but yet I get completely different option (and one that just doesn't even make any sense - why would you want to live in a area you don't like want to??)

AnotherJoe

economic wrote: »

apologies I didn't mean it but its just frustrating that I have laid out the options but yet I get completely different option (and one that just doesn't even make any sense - why would you want to live in a area you don't like want to??)

One of the benefits of the Internet and forums like this is that people come up with ideas you hadn't thought of which may be much better than the ones you have. Where did the poster whose idea you dismissed as stupid say live in an area you didn't like? He also came up with a plan fir a quicker retirement which you asked about.

Anyway, I have thought of a much better idea for you also as it happens, doesn't seem much point putting it forward though.

economic

ok I realise I was the one being stupid so I apoligise to you Cakeguts for my thoughtless reply. thanks for the idea but it really wont work for me.


please if anyone does have ideas or thoughts let me know as I am desperate for some help. I promise I will stop being rude and ignorant.


thanks

Marvel1

First I if I ever decide to go into the landlord business, I would do some research on what I need to do and tenents rights.

economic

cjdavies wrote: »

First I if I ever decide to go into the landlord business, I would do some research on what I need to do and tenents rights.

I have done this and know full well tenants rights, tax implications etc etc.


thanks

economic

anyone else?