Is it the time to sell or continue to let?

[garycat]

We have a 4 bed house near Uxbridge that we rent out but have just got notice from our tenants that they will be moving out in 2 months. So, should we sell it and pay off the mortgage or continue to let it.

Just looking for some ideas for & against each.

[King Herald]

garycat said:

We have a 4 bed house near Uxbridge that we rent out but have just got notice from our tenants that they will be moving out in 2 months. So, should we sell it and pay off the mortgage or continue to let it.

Just looking for some ideas for & against each.

We are just about to start renting our place out, as we plan to move abroad, and as prices don't appear to be rising any time soon selling it is probably not a wise move right now.

We only have 50% equity, so I'm worried about 'falling off the property ladder' if we sold now.

[mat.parr]

How much Gary?

[Grandad Gaz]

Also depends on what your mortgage rate is.

If it's good, then keep letting

[cjs]

Are you making a decent profit? If so why not continue renting out.

[Puggit]

We've just sold in Reading - £15k under the asking price. We had our offer accepted at £20k under.

The estate agents all told us property was arriving on the market quite fast, and driving prices down as there still isn't a large volume looking to move.

[renmure]

garycat said:

We have a 4 bed house near Uxbridge that we rent out but have just got notice from our tenants that they will be moving out in 2 months. So, should we sell it and pay off the mortgage or continue to let it.

Just looking for some ideas for & against each.

I had the same dilemma just over 18 months ago in a 4 bed house. There was a natural break in a tenancy that ment I could either do a quick spruce up of the property and re-let, or a more thourgh (and needed) refurb and sell. Went for the 2nd option and .... the house has been on the market for about 16 months... so that was a bit of bad timing. As it happens, a potential sale of the property fell through yesterday so I am back in the same position but am going to go against common sense and keep it on the market

[Ken Sington]

Homes supplement in weekend paper suggested that prices are starting to stagnate again as more property is coming onto the market, whilst buyers are in no great rush awaiting the election results and further economic woes.

[garycat]

mat.parr said:

How much Gary?

Rent about £1400pcm or sell for ~£340K

http://www.movehomeonline.co.uk/pages/display/disp...