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GeordieAndy

Sell Or Rent Out Ours Whilst Renting Elsewhere

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Just looking to see which of the following people would do if in the same position :blink:

We have a house that is at just about 75% LTV but we want to relocate and rent a nice place due to my job and to also be in a less urban environment so should we:

  1. Sell the house to just about break even after having it for 3 years (it was a repo in 2008 and house down road has 3 people bidding on it currently).
  2. Keep the house and rent it out and probably break even at best each month in terms of mortgage + agency fees + maintenance etc = rent

I cannot see houses prices going any other way than down - probably another 20% over next 5 years then maybe back to current levels in 10 years time BUT with QE and the resulting inflation etc something is telling me that over the longer term it might be worth holding onto the house.

All thoughts and comments welcome and much appreciated!

Edited by GeordieAndy

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I cannot see houses prices going any other way than down - probably another 20% over next 5 years then maybe back to current levels in 10 years time BUT with QE and the resulting inflation etc something is telling me that over the longer term it might be worth holding onto the house.

You don't own the house, you are claiming 75% LTV but then admit you'll break even if you sell now, so you don't own the house or have an issue about where else to store your wealth, you just have a massive debt for something that you expect to fall in value and which someone MIGHT rent from you with just enough to cover your liability each month or might not. You know we're slipping into a massive hole which if recent times has taught you anything it's that no one can predict what tricks and games will be playing next, how the rules will be re-written to suit people other than the Joes like you and me, And still you have to ask what you should do with the massive debt around your neck when you have the possibility to walk away from it? :rolleyes:

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Thanks guys - I know option 1 makes sense which is effectively get what I can and sit it out whilst UK house prices slowly go back to sustainable pre 2003 levels (well in the old world we knew) but the option of hedging some cash in a mortgage which might be inflated away was tempting me :unsure:

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Thanks guys - I know option 1 makes sense which is effectively get what I can and sit it out whilst UK house prices slowly go back to sustainable pre 2003 levels (well in the old world we knew) but the option of hedging some cash in a mortgage which might be inflated away was tempting me :unsure:

depends on whether you can finance the empty house.

http://www.youtube.com/watch?v=FnMLGkj91Og&feature=related

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depends on whether you can finance the empty house.

I take your point - if no one wants to rent it we couldn't have it sat empty for an indefinite number of months.

Option 1 it is then - out of the market ASAP and take what ever we can get whilst we rent elsewhere for the next X years whilst saving to buy at the absolute bottom somewhere in X years :huh:

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I take your point - if no one wants to rent it we couldn't have it sat empty for an indefinite number of months.

Option 1 it is then - out of the market ASAP and take what ever we can get whilst we rent elsewhere for the next X years whilst saving to buy at the absolute bottom somewhere in X years :huh:

Glad to see you're so well read up, and have done enoughh research to enable you to come to that conclusion, rather than just relying on a couple of posters on a random anonymous website.

btw, I'd ditch it as soon as possible too.

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Research is definitely something I cannot be accused of not doing :D

Since I arrived on these forums last October as a result of not believing money printing (QE) would be good for the little amount of savings I have, I have taken various red pills provided by this forum, Zerohedge, Max Keiser etc and questioned everything to do with the fiat money system we have today. I bought some physical gold and silver (January time) as a result of my own extensive research and feel like this forum is my true internet home.

Thanks all.

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My friend has done this.

he now has a flat and a 3 bed semi renting and lives in another house.

he moans about poverty, and I jibe about him being a slumlord.

He says, seriously, in spite of the 0.5% above base mortgage for life on the flat, with the number of flats empty crying out for tenants, the rent does not cover the mortgage...luckily, he has a tenant who is content to stay.

The house, seems to attract only 6 month contracts, he has voids and repairs, and again he is losing money.

Now he has no job either.

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Lets be honest here, this is housepricecrash.

You're unlikely to get a non-vested interest answer.

For the sake of balance, you'll not get an unbiased answer from anyone, anywhere for that matter.

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Am I suffering from early onset, or was there once a "Should I sell my house" sticky on this board? The reason I ask is that this am there are two "should I sell my house" threads and I can only see this number growing. The sticky was there (I assumed) to counter this. Why has it been removed? :blink:

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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