Talk

Advanced search

Property quandary - WWYD?

(3 Posts)
tak1ngchances Sun 17-Jul-11 09:16:55

This will probably be a long post, sorry...
DH and I have a house in Wandsworth which is currently divided into two flats. We live in the top (2 bedrooms, no access to garden) and we rent out the bottom flat (1 bedroom). We want more space, ideally 3 bedrooms and access to a garden as we are hoping to have a baby.
We applied for planning permission to do a loft conversion i.e. master bedroom ensuite. This has been rejected twice and the only thing we can put up there is a fairly small bedroom with either no bathroom or a teeny tiny shower room. This is not going to work because DH is v v tall. We can never sell this house because DH inherited it on the basis that he would keep it in the family.
I also own a 2-bedroom flat in Battersea which I rent out.
Both the Wandsworth house and Battersea flat have mortgages on them but nothing scary.

So the options for us are:
A) Sell Battersea flat, rent out Wandsworth house and move to a house somewhere nearby (handy) or in Surrey (more room)
B) Sell Battersea flat and use the money to convert Wandsworth house into a house (4 bedroom with nice open plan living space but patio garden). This option means that we would have no rental income.

Which would you do...? We keep going round and round in circles. We haven't seen an IFA yet but we will do.

Any suggestions or advice gratefully received.

oldenoughtowearpurple Sun 17-Jul-11 09:29:14

Well, very hard to say on the info here but I am tending towards A. I am guessing that the final value of Wandsworth House would be less than the value of it as two flats and frankly I find the idea of having to own somewhere because you promised someone on their deathbead that you would 'keep it in the family' a bit weird.

tak1ngchances Sun 17-Jul-11 09:34:13

Yes I totally agree, it is a bit weird. But that's how it is.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now