Sell up or rent out?

[Jockman]

Retman said:

Please take your own professional advice on this, but don't worry just about the tax, your crystal ball on property prices is probably the key.

Fair point Andrew me old chum. People automatically assume they will make easy money on a property. From experience (oop North), it's just not that easy when you account for all the factors

[Retman]

ch427 said:

Good advice there thanks.
I cant see the house prices rising dramatically, it is a refurbished large 3 bed terraced in south wales.
Its really a long term investment as i have no pension in place, at the age of 41 now i think it may be worth hanging on to for 15-20 years. Its difficult not to think of also just selling up and putting the £100k down now.

Edited by ch427 on Tuesday 15th July 08:45

Well if it's tied up in property and it's on a repayment mortgage at least you can't spend it on cars and the like so you'll have an asset at the end. I have similar as part of my (meagre!) pension planning. Good luck with the new house whichever way you go.

[ch427]

Retman said:

ch427 said:

Good advice there thanks.
I cant see the house prices rising dramatically, it is a refurbished large 3 bed terraced in south wales.
Its really a long term investment as i have no pension in place, at the age of 41 now i think it may be worth hanging on to for 15-20 years. Its difficult not to think of also just selling up and putting the £100k down now.

Edited by ch427 on Tuesday 15th July 08:45

Well if it's tied up in property and it's on a repayment mortgage at least you can't spend it on cars and the like so you'll have an asset at the end. I have similar as part of my (meagre!) pension planning. Good luck with the new house whichever way you go.

Thanks, i may still get to scratch my tvr itch too in a few years hopefully!

[Gerradi]

Mmm careful it doesn't turn into a nasty rash...

[richatnort]

Rent it out every time. It may be a little bit of hassle but it's a good retirement nest and the rent you could get will be more than the mortgage so you can put that towards your new place. My friend did the same thing and haven't looked back at all!