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Advice - keep house for sale or do we rent?
upsydaisy
Posts: 1 Newbie
Hello
Advice needed - we decided to moveback up north of scotland to where we're from.
I got a job first so I have started new job and living wih parents with my toddler, my partner is in centralbelt of scotland trying to sell our house.
Its been on 7 weeks with no viewers for 5 - we've just gone to fixed and updated kitchen etc but I've researched the renting option and we have people interested.
How long do we leave it before renting? bearing mind july and august are normally quiet..........only concern about renting is when will it end? If we rent and buy a cheap house up north we'll then get clatterd for capital gains when we sell our current home but don't like the idea of renting as I think its dead money.
We then also have to have property empty and pay rent and mortgage when we do sell.
Ignore stuff in press saying things aren'tbad in scotland as its rubbish, friends are trying to say it will sell eventually but my solicitor is talking negative equity and I'm getting jittery about renting thinking we'll start to lose money if we sell house next year.
Has anyone got a crystal ball?
Advice needed - we decided to moveback up north of scotland to where we're from.
I got a job first so I have started new job and living wih parents with my toddler, my partner is in centralbelt of scotland trying to sell our house.
Its been on 7 weeks with no viewers for 5 - we've just gone to fixed and updated kitchen etc but I've researched the renting option and we have people interested.
How long do we leave it before renting? bearing mind july and august are normally quiet..........only concern about renting is when will it end? If we rent and buy a cheap house up north we'll then get clatterd for capital gains when we sell our current home but don't like the idea of renting as I think its dead money.
We then also have to have property empty and pay rent and mortgage when we do sell.
Ignore stuff in press saying things aren'tbad in scotland as its rubbish, friends are trying to say it will sell eventually but my solicitor is talking negative equity and I'm getting jittery about renting thinking we'll start to lose money if we sell house next year.
Has anyone got a crystal ball?
0
Comments
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With prices going down, every month it is rented could mean you're losing £1000+ a month.
If you rented it for a year, you'd have lost £12k or more.
Renting to people is pricey/risky too. You're still responsible for the maintenance. And if they leave and it's empty you're still paying the mortgage too.
Make a clean break, put it on at a low price to sell. Get rid and enjoy your new life without fear of the phone ringing and it being a problem.0
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