Sell it or Rent it???

BlueVeranda

gazfocus said:

BlueVeranda said:

gazfocus said:

At the time the house was put up for rent, and the time the viewings were booked, there was no interest from any potential buyer. 

Really? The sale fell through two weeks ago, you had viewings last weekend and by Wednesday you'd decided to rent it. I know it is frustrating waiting for feedback that never comes, and you have some time constraints as you are in a chain now, but a lot of houses are on the market for much longer than that before they sell.

The sale fell through after 6 months of being kept hanging on. We are having to pay for the house where we live, and also a mortgage/council tax/bills for a house that’s now sat empty for 4 months. 

It’s not like we’ve all of a sudden become impatient, we’ve been left hanging for months and so have had to make some tough decisions and we simply cannot afford to pay for two houses indefinitely. 

As I said in my OP, if we sell the house, it will be a financial struggle until a sale completes but if there’s a sale imminent and if that’s the best thing for us, then we will beg/borrow to cope but we cannot wait around for weeks with zero contact from an EA until we stick a rocket up them before anything proactive is done.  

It's been a long six months from your perspective and I appreciate you're under pressure. But if you've not been having viewings while the previous sale was in progress/struggling then your EA has only had two weeks of that to attract a new buyer and I just think it was a bit hasty to conclude there was no interest from buyers at all.

Rental properties in my area are very very scarce so if it's the same where you are I'm not surprised you had a lot more viewings for renting it out. You'd probably be able to get someone in very quickly for that. But it sounds like you would really prefer to sell.

CSI_Yorkshire

Sarah1Mitty2 said:

Bigphil1474 said:

Personally, I'd look at it as which way will i be better off in the long term. If I could afford to own 2 houses, one which is being rented at a small profit while growing in value, I would do. The house you live in will also grow in value, but that value is locked in, whereas you can sell the second property any time in the future, and when the market picks up again, and probably for a lot more than you would currently. 

Also, selling 2 houses at the same time must be a strain in the short term. If the figures stack up, I'd rent property 2 out for now.

In this market it is falling in value, sell it.

The usual bold and definitive assertions that you call others out when they make but seem immensely comfortable making yourself.