We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Does anyone let to rent?
Comments
-
jackharrison342 wrote: »The additional one would be to live in while keeping the first one as a pension?
Why not just invest in a pension? What you're attempting to do is far more risky.0 -
How would that be anymore tax efficient? Is there a particular reason why you would rather let properties to other people whilst renting yourself instead of buying your own home?jackharrison342 wrote: »The additional one would be to live in while keeping the first one as a pension?
Your original plan = own one house + rent elsewhere so very simplistically:
Initially: rent income covers mortgage, your salary pays your rent
Later: mortgage paid off & you retire, so rent income pays your rent, NO PENSION for other living costs
Benefit (/lose) from any house value increase on ONE property if you sell
If instead you sell this one and own and live in one property:
Initially: your salary covers mortgage
Later: No salary, no mortgage (paid off), NO PENSION for other living costs
Benefit (/lose) from any house value increase on ONE property if you sell
So in both cases, you need an outside pension for other costs, the property will cover your accommodation only.0 -
Jack
What other replies other than those in your other thread are you after ?0 -
Thanks so I need to either keep the first flat for a pension or get a pension to pay into. Only other potential income later is inheritance but that potentially could be lost to care homes!0
-
I think the point of let to rent is to own & rent out a more expensive property & live in a cheaper place thus give you a return, that's how I read it anyway. But saying that if you can't or don't want to sell the house & don't want to live in it there's nothing stopping you renting elsewhere.
Just do your sums, Inc voids & hassle fund and see if it's worth the hoped for end goal
Not necassariky. I do the opposite. Own in an area that’s cheap but I don’t want to live in. I rent a flat I cab’t Afford to buy in an expensive atea0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards