What would you do ? Rent or leave empty

xylophone

Why not sell and buy in your current area?

You say that you are on a short term contract but why should that matter?

Rosemary7391

I thought unfurnished lets were more aimed towards people who wanted long term? You're possibly only looking at renting it out for a year - that's not long for most people.



I'd consider selling it, and buying where you are currently if you think you'll stay there long term. Owning is a pain if you're only staying somewhere for a couple of years!

lisyloo

You say that you are on a short term contract but why should that matter?

Contracts can stop at any point with no notice or compensation.



Why would you buy if you don't know how long you will be somewhere and it would be quite expensive to move twice and you'd possibly lose a good home.


We rent a bolt hole in London but regularly use our main place.


BTW - not sure if everyone knows this but if it's outside IR35 then rent can be a expense for 2 years.

moneyistooshorttomention

Read thread "Landlord wants to move back into property" that's currently running on this sub-forum to start with.....

Marvel1

Woolco wrote: »

Hi. Stop replying to this person please. Do you want scum in your street? This person is making this happen.

Interesting, are you also 1974Marie?

1974Marie wrote: »

Hi. I hope you dont rent it out. I hate people that do that.

I worked hard all my twenties to make sure I got a good credit rating. Got my mortgage no problem. Problems started when I realised people in the same block as me were "sub let"

They dont look after their area. They make me sick. Landlords make me sick. People like you should sell their interest. Spare a thought for people like us.

Marvel1

moneyistooshorttomention wrote: »

Read thread "Landlord wants to move back into property" that's currently running on this sub-forum to start with.....

This one too "Solicitors for tenant eviction needed".

xylophone

Contracts can stop at any point with no notice or compensation.

Yes, but this seems to be a contracted fixed term?

I am five months into a two year contract

The OP does say that his property is in a good area but there is no indication that the area where he is working is undesirable.

In addition, it seems that there is a possibility that the move to his current area may be permanent.

I don’t know if my move is a permanent one.

He says that if he needs to move back to his old town he will not be able to afford it but I don't quite understand this - if the house can be sold for an amount far in excess of what he would need to buy in his current locality, he could buy outright and save the excess?

However, the OP may simply be too attached to the property to want to let it go?

EachPenny

1974Marie wrote: »

Who painted the common entrance to mines? Who cuts the grass? Picks up the litter? Cleans the close with Jeyes Fluid? Changes the light bulbs every time they go out? ME!!!!! And never asks the neighbours for a brown penny. ME!!!!!

What does any of that have to do with the OP's thread?

And there is far too much "ME!!!!!" involved.

PhilE

1974Marie wrote: »

Hi. I hope you dont rent it out. I hate people that do that.

I worked hard all my twenties to make sure I got a good credit rating. Got my mortgage no problem. Problems started when I realised people in the same block as me were "sub let"

They dont look after their area. They make me sick. Landlords make me sick. People like you should sell their interest. Spare a thought for people like us.

Well some people need to rent, don't they. If they can't afford to buy a house what are they supposed to do? Go on the street?

PhilE

restless6 wrote: »

I have come to the point where I am ready to rent out my old home , but I don’t know whether I shouldn’t leave it empty or not .
It has been empty since July

Mortgage and council tax and insurance will cost me £400 pcm
I can get £700 pcm rent but the added costs and responsibilities- not sure if it will be worth it so having cold feet

What would you do ?

Is your house going up in value? If so, by how much? Do you own it outright?

Yes, there are some responsibilities as a landlord and its not easy. But get it right, and you could have a good investment.

Generally speaking, if you have a good home with good neighbors, don't be too quick to give it up.

Bear in mind that an empty house will still require maintenance. If you do keep it empty, it will still need to be heated and vented.