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Sell Both Or Rent One.
Barney2022
Posts: 5 Forumite
Hi All. I may need to see a financial advisor to make my mind up but just wanted to see what you thought of the following.
We live in the North West and currently own a 2 bed semi with modern improvements and if we were selling its value is around 120K. Through tragic circumstances we have inherited a 3 Bed Semi valued around 130K as well We dont want to rush into things but we were considering selling both and purchasing another property around the 170K mark which would allow us to move as we dont wish to stay at our current location. Would you sell both or sell one and rent out the other to have income coming in to poss pay for new property after a substantial deposit. We are both early 50s with ok jobs but no children. Any guidance would be useful. Thanks.
We live in the North West and currently own a 2 bed semi with modern improvements and if we were selling its value is around 120K. Through tragic circumstances we have inherited a 3 Bed Semi valued around 130K as well We dont want to rush into things but we were considering selling both and purchasing another property around the 170K mark which would allow us to move as we dont wish to stay at our current location. Would you sell both or sell one and rent out the other to have income coming in to poss pay for new property after a substantial deposit. We are both early 50s with ok jobs but no children. Any guidance would be useful. Thanks.
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Comments
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If you had the cash in the bank now instead of the properties would you even be thinking about starting a residential lettings business?
I suggest you read the following thread and all of the links that it contains before taking this idea any further...
https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants/p1
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Many thanks!Slithery said:If you had the cash in the bank now instead of the properties would you even be thinking about starting a residential lettings business?
I suggest you read the following thread and all of the links that it contains before taking this idea any further...
https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants/p10
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