Need advise on what to do with my property

skap7309

Dan: wrote: »

Things ARE looking good at the moment and property is losing value

Edited for accuracy... (sorry) :rolleyes:

freddiebigbucks

Hi, thanks for all the replies so far everyone, much appreciated (though I'm still completely undecided!).

As for a little more info, I'm 20 years old, my parents are wealthy and the flat was bought outright for me to get me on the ladder, but I don't have a high-income job or anything.
I'm not at Uni, and (thankfully) don't have any kids to worry about haha

However, I am in a serious relationship which is a big consideration in regards to travelling.

Like I said in my original post, I'm really wondering whether it's a better financial option to sell the flat now (regardless of whether I travel or not, even if I kept the flat i could just rent it out for about £400 per week and live off that) or sell it, have the cash in the bank and wait until prices (hopefully, thats the risk) fall, and pick up a bargain.

Also, if I did decide to stay in london and rent out somewhere, it wouldn't be a major deal, I could either split rent with a friend somewhere, or just rent a room for cheap from one of my parents places in london (but they are generally all located around chelsea area and I'm in NW london so it's not exactly ideal).

Still not any closer to a decision though =\

PasturesNew: of course I'm tall dark and handsome! just not single though =p

Verbatim

Ok look ahead to when you'll be back in the UK. Are you likely to have dipped into the sale money? Do some thinking about what is likely to happen while you'dre away and what it's likely you'll want when you come back. What is the realistic worst case scenario? If this happened what would you do and how would you still be able to get where you want to be at that point.

Another thought, as your parents did you the enormous favour of getting you on the property ladder how would they feel about your selling up?

Best to you whatever you decide.

southernscouser

PasturesNew wrote: »

OP ... if you're single, possibly loaded, no ties .... tall, dark, handsome and male. Give me a shout, I'll come with you.

Are you female or gay? :undecided

I always had you down as a bloke!

mystic_trev

I'd rent it out (if I was you) won't the Folks get peed off if you flog it?

Freddie - enjoy the big wide World - it's great. I'll have been in a different Country every month this year, but not doing the Big trip until November. Nepal then India for the Cricket, my fourth trip there, I love it! I'm lucky to have travelled to over 100 Countries, many several times. You just can't beat it! Enjoy.

mystic_trev

southernscouser wrote: »

Are you female or gay? :undecided

I always had you down as a bloke!

Pastures new is definately a gal. If your looking to take someone up the Oxo Towers you'd better look elsewhere! :rotfl:

southernscouser

mystic_trev wrote: »

Pastures new is definately a gal. If your looking to take someone up the Oxo Towers you'd better look elsewhere! :rotfl:

Sorry PN.

It must be the way you portray your strength in your posts that made me assume wrong! :whistle:

funky-footprints

i would rent it out myself, if it was bought out of a kind gesture by your parents, then i think it is a bit rude to sell it. you never know what the future holds and it will always hold a base for you on hard times (not that they are anticipated)
best of luck on your travels.

mystic_trev

southernscouser wrote: »

Sorry PN.

It must be the way you portray your strength in your posts that made me assume wrong! :whistle:

Got to say ss - It's real nice to see you on this Forum, particulary after ALL the great work you've done for the DFW's.

Welcome! :beer:

southernscouser

mystic_trev wrote: »

Got to say ss - It's real nice to see you on this Forum, particulary after ALL the great work you've done for the DFW's.

Welcome! :beer:

Why thank you kind sir. It's nice to be here.

Now where's the welcoming buffet? :think: