Put my mind at rest please.

dweller_2

Hi guys, your census of opinion would be greatly appreciated with this please. I had a property with no mortgage in an area which was becoming more of a hell hole as the years went by. I eventually sold it as opposed to renting it out, I am now renting and know you can't change history but wonder if i made the right choice to sell and take the money rather than rent out to undesirables long term. Your census of opinion would be greatly appreciated given the present market conditions. I sold two years ago.

Sue-UU

Hi dweller and welcome.

You're right in that you can't rewrite history, but for what it's worth, I honestly believe you made the correct decision. If the area was going downhill as much as it sounds then letting it to (possible) undesirables would have been a really bad decision and could possibly have cost you a LOT of money over a long time!

Time to move on with mind as well as body. All the best.

Sue

Rabiddog_2

Oh dear ! You have made a dreadful mistake. You will never recover financially from this. Are you Sue-uu??

Sue-UU

Rabiddog wrote: »

Oh dear ! You have made a dreadful mistake. You will never recover financially from this. Are you Sue-uu??

Jonbvn

In this life there are no right or wrong answers! Remember such decisions are not black or white, but just different shades of grey.Nevertheless, I think most people would be happier with cash in their hand to spend as they want, rather than owning property on a sink-hole estate.

mymatebob

Don't worry about it.
It is in the past.
If you keep thinking "what if" about loads of things then it will tear you apart.

Keep looking forward to what you can influence not back to what has already been.

dweller_2

Thanks for the replies guys, apologies for sounding insensitive to others. When i saw over 70 views and only 2 conflicting opinions the same as mine i felt really insensitive and not much further forward. Now there are a couple more i do realise there are some kind people out there. I was talked into selling it whilst i was grieving and I've felt stupid for two years! Thanks for your kind words, maybe i can move on now.

setmefree2

You defo made the right decision. Good Luck:T

dweller_2

:T Good luck with yours setmefree2!!! you're the kind of person i didn't want to offend. Thanks to you and the others!!!
Opinions still welcome if anyone wants to- I have 3 to 1 in favour of selling and 2 that said to move on and a . I'm feeling so much better:j !! Thanks guys!!

LindsayO

dweller, if you check out the House Price forum on this board and google house prices and then do a News search, you will see that there are lots of indications that the house market is crashing, and if it does go the way people are anticipating, you will be able to look back on your decision to sell as a very good one indeed.

That aside, keeping a house in a declining neighbourhood when you have the option to sell cant be a good idea, so I think it was the right choice no matter what happens to the housing market.

I made the choice to buy after the breakdown of my marriage meant selling the family home. I'm glad I got that sold before the market crashed, but I'm beginning to regret buying again so quickly, but as you say we can't rewrite history, so its best just to try and move forward from where we are today.

If I were you and had sold for a profit, I'd try and find a good safe place to invest it, wait a few years, keeping an eye on house prices and think about buying once it looks like prices have stopped falling

setmefree2

Ditto what LindsayO said - just sit back and wait for the right moment to get back on the ladder. The 90's crash lasted a couple of years before it bottomed out.....but keep an eye out for any bargains. They can appear at any time;). The second house we bought was an inherited house - the people doing the inheriting didn't want to become LLs so they priced it to sell. Also if you have got the energy a house needing substantial work doing to it might not be such a bad choice (but you have to know what you are doing!) - there will be less competition from builders to buy these houses in a falling market, and builders will be less busy (maybe) so you can get a good price on any work that needs doing. It's a buyers market so take your time.:D