| Topic: | Re:Re:Re:Re:Re:Re:To Sell or To Let in this economy? | |
| Posted by: | Stewart Dean | |
| Date/Time: | 07/01/09 14:11:00 |
| I see what you mean Rob. I don't follow others arguments on here though. Isn't it all down to when you want to make money? If I have a hundred pounds in my pocket and a car worth 200 and someone owns a car worth 500 then, for the time being, I have more money. Do you want cash now or later? So long term - I'd say keep the house and let it out. Short term (2 years) sell it providing the cost of selling it and buying another are less than the amount the market will drop. You will not be paying interest on the mortgage and will receive a nominal amount of interest on your money (even if in some other investment device). You will gain on the interest you are not paying on the mortgage but loosing on the lack of rental income (taking into consideration tax). Only you know what all the figures for most of this is and how much the market will drop is an unknown. If you model things based upon, say a 12% drop over 2 years, that might give you an idea (or be completely wrong). Guess it depends. |