What do you think?

[pollyglot]

I'm in my 70s, retired and in receipt of a substantial inheritance. We've bought a house, using the money, for me and DH, much better suited to our situation.I was going to sell our former place, as housing is scarce and much sought-after here, specially one with lovely gardens and views, as ours has. However, we've decided that we would be far better to let it, as interest rates are so low on the proceeds of the sale, and house prices are predicted to continue rising. We would otherwise have a only small pension to live on. My social conscience has been telling me I'm selfish to deprive a young family of a home of their own. Who is right-my social conscience or my practical head? Thanks for your thoughts.

I think you have to think of yourselves first and foremost and make sure you have a comfortable retirement. Therefore let the house but don’t forget that you will still be responsible for repairs and maintenance.

Good question - there is a rental market for a purpose. Many people can’t afford or aren’t ready to buy so their is a need for rentals.

IMO having empty houses is a bigger issue - like holiday homes left vacant in areas where local young people can’t afford to buy and the property market has gone up as a result.

It’s on all of us to be socially responsible, but you also need to be financially responsible too. If you want to look at alternative investments, check out money expert for ideas.

Also remember that property is expensive to upkeep. Would you be able to manage the let, or would you pay an agent. It’s hard work at times and costly. If you have a high turnover of tenants, this may mean frequently redecorating and fixing / replacing items. It might not be good to base your income on it, but capital growth is important too.

Thank you for your comments. I really appreciate your input.