Advice on renting out versus selling

Guest101

davem7 wrote: »

Thanks all for your thoughtful replies, it's really useful to have some external feedback, particularly from others who have been in a similar position!

I think you're all broadly correct in saying that the rental income would be nice; however the hassle of being far away, combined with potential issues of maintenance, problem tenants and ending the tenancy in a reasonably timely/amicable fashion are not worth it. Cakeguts also had a really good point in that I don't know whether there's a market for our house at the moment.

I guess our concerns with selling up and renting is the risk of being priced out, and also that we might be leaving the house empty for a reasonable period whilst it sells, which I seem to recall is also against the terms of our mortgage/insurance. - usually only if you don't inform them. But presumably it wont be empty as there'll be viewings?

Potentially a common ground here might be for me to rent out a small 1 bed place and commute up and down at the weekends for the short term, which would also allow my wife to work a bit longer and bring some additional funds in.

3 months should be plenty of time for you to have a firm buyer in place

cashbackproblems

I dont think the market is going to move much in the next few years so you wont be priced out, if you price your house to sell it should be done within three months and you can give keys to the estate agent who will show people around

I think it makes sense to sell then you can buy immediately in exeter