Get me out of here...

willow93

I was lucky enough to receive a substantial amount of inheritance, which i used to purchase a house outright. The house is in an infamously bad area (hence the low price). My partner and i are desperate to start a family, but we do not want to have a baby in an area surrounded by drugs and anti-social behaviour. However, we are reluctant to sell the house (if anyone would even buy in this area) because it would make an ideal rental for extra income when we do have a family.
We have looked at homeowner loans, renting this house out and renting elsewhere whilst we save for a deposit to put on another house, etc.

Any advice would be very greatly appreciated.
Thanks in advance

amnblog

Would would you keep a property is a 'bad area'.

What potential for capital growth?

How secure would it be let out?

Are you not better raising some extra funds on mortgage to buy a property in an up and coming area?

ACG

If you are renting a property an a well known bad area, why type of tenants do you think you are likely to attract?

I have been a landlord with a house in a nice area. I had 2 tenants and both were bad, one massively more so than the other (imagine cannabis farms and holes in walls).

Also with regards to renting properties out, it is worth looking at higher rate stamp duty and the tax you will pay on the rental income both now and in the enxt 2 years as the tax charged is changing.