| Topic: | To Sell or To Let in this economy? | |
| Posted by: | S Powell | |
| Date/Time: | 07/01/09 10:52:00 |
| I am moving in with my partner, I cannot work out if selling or letting my flat is going to be wisest in this awful economic situation. Is best to sell and get rid of the mortgage (but potentially lose out in a market that will hopefully ultimately bounce back again...) or try and find tenants? If the market continues to fall, surely the bottom will drop out of the rentals market (mortgages with low interest on cheap property could become lesser than the cost of rent) and I could find myself with an empty flat and a mortgage to pay....or tenants who are more at risk of not be able to find the money to pay the rent. If I sold at the moment, I could still make a modest profit, but if I waited and then sold, I might have to sell at a loss. Of course it is all speculation, but I would appreciate any thoughts and considerations you may have.... |