Hang on or sell?

tim123456789

elbowpipe wrote: »

No fortunes to be made, although it's steady. But a rates rise would make it pointless.:(

really?


You ought to be getting 15+% return from a holiday home, before expenses.


But remember that capital repayments are NOT something that you should consider as expenses (it is money that you are putting in a savings account).


tim

kinger101

You need to work out the net yield of the property.

Pixie5740

tim123456789 wrote: »

But remember that capital repayments are NOT something that you should consider as expenses (it is money that you are putting in a savings account).

The OP has an interest only mortgage with, it seems, no repayment vehicle other than selling the property itself.

Crashy_Time

AnotherJoe wrote: »

Hold the press !!!! Person who is obsessed with house prices falling advises someone to sell!

On page two, news about the Pope, and bears in wooded areas.

Sure But are the factors that caused the last crash the same as last time, or are we in much much more volatile and unpredictable waters this time? I get it, many posters stretched themselves to buy and don`t want a crash, and many posters would like their gains made over the years to remain on the table and don`t want a crash, BUT, someone standing to lose a lot from missing their opportunity to sell needs to think deeper than the back and forth about "crashists" and "doomsayers" that goes on here IMO.

Crashy_Time

Mickygg wrote: »

Lol I read this yesterday and wondered how long it would take crashy to come and say sell sell sell before the world collapses around your feet.
OP in case you hadn't realised no one takes crashy seriously (predicting a crash for years which of course the complete opposite has happened!) so ignore the ridiculous posts.

My 2p worth, no one knows what will happene when we go full brexit, it is pure speculation at this stage.

I would keep or sell based on what you know now. If you want to be mortgage free and risk free then try to sell. If you want to hang on in case prices keep increases and take the risk then keep hold of it.

Well I predicted Brexit and the Trump win, so we shall see.......

kinger101

Crashy_Time wrote: »

Well I predicted Brexit and the Trump win, so we shall see.......

And all 20 of the last two property crashes.

Crashy_Time

kinger101 wrote: »

And all 20 of the last two property crashes.

Since I started believing that we were due a big crash, 2007/8, I don`t think there have been two property crashes.....did I miss one? :rotfl:

csgohan4

Crashy_Time wrote: »

Since I started believing that we were due a big crash, 2007/8, I don`t think there have been two property crashes.....did I miss one? :rotfl:

I am shocked Crashy

kinger101

Crashy_Time wrote: »

Since I started believing that we were due a big crash, 2007/8, I don`t think there have been two property crashes.....did I miss one? :rotfl:

I don't know when you started predicting crashes or joined this site. I'm just illustrating the point that saying a dice will land on six every time means you'll be right some of the time, but mostly wrong.

Crashy_Time

kinger101 wrote: »

I don't know when you started predicting crashes or joined this site. I'm just illustrating the point that saying a dice will land on six every time means you'll be right some of the time, but mostly wrong.

When the US is raising rates and we are about to Brexit you would need to be pretty entrenched in your beliefs to think that things can continue as they have been? It is cause and effect, home owners on forums have been cheering the attempts by the PTB to keep asset prices afloat, thinking that they are somehow protected, but this intervention has caused political effects that will eventually make the property and economic collapse much worse, it would have been better for all of us if they had let some banks go and let the property market correct itself in`08 IMO. We would have been well out of the woods by now instead of still lost in them.