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How to rent my flat?
Comments
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So what would you consider a good investment? Even by paying 4k a year, I would still get a 300k flat by spending 80k during 20 years. And then I would have the option to return.
If I sell, I get pretty much what I bought it for - stamp duty, solicitor fees ... so that makes a good 50k in my bank account. But these 50k won't bring me an extra revenue every month, with which I can have a full paid off flat within 20 years. And even if I save 4k a year on a savings account, that will only give me 130k in 20 years, which by itself wouldn't be enough to buy this kind of flat again.
Am I missing something?0 -
Umm, I think you might be forgetting that you need to repay the 85% of that £300k that you owe the lender, £255k, plus interest.So what would you consider a good investment? Even by paying 4k a year, I would still get a 300k flat by spending 80k during 20 years.
Right now, there's £45k of your money sat there.0 -
OP I don't agree this is a good investment for you. For others it might be, but on your figures alone you will be losing alot more money than you would gain.
Equity increase is not going to be good in this environment at the moment, London prices are pretty stagnant at present, or at least not increasing as they were a few years ago"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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