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sell or let out a house

4 replies

breakaleg · 03/02/2010 20:30

Hi
I have let out my old house for the last six years and in the last two the tenants trashed it- hole in wall, wires pulled out, every carpet trashed. I have redecorated it all and put in new kitchen and I don't know if I should sell it now or let again. If I sell, it feels like my history (pre DP) is gone and my links with my old town are finished- I sometimes imagine living there again- but unlikely with my country loving partner. If I let, I risk seeing it being trashed again. I have to sell anyway in two years to avoid getting big CGT bill so should I sell now (I am assured that it will sell quickly by the EA) or sell in two years to recoup some of the costs of redecorating and give me more time to think of what to do with the money? Incidentally DP facing redundancy so won't talk about it with me- think we are both a bit depressed at the moment...Also he won't sell his house even though it is too small for us because even if we sold two houses we could not buy the big barn he wants...Grrrr.

OP posts:
OldLadyKnowsNothing · 03/02/2010 20:53

If you sell in two years, won't you have to freshen up the decor even if your new tenants don't trash it? Two years of day-to-day life can take that "new" edge off anything. As for what to do with the money, stick it in the bank while you think about it; might you need it if DP is made redundant?

breakaleg · 04/02/2010 09:29

Yes coming more and more round to this. an estate agent has just rung, they are so keen to sell it..

OP posts:
shouldnotbehere · 26/01/2011 11:44

If you can sell it, why not. Some properties are not moving though (purchasers are much fussier), at which point you could have your property on the market for 12 months lying empty when you could have tenants in instead.

If you are re-letting, change letting agents, as they clearly havent done a very good vetting job. Also if reletting sure you meet the tenants yourself, and are happy for them to live in your home.

I used to rent a small terraced house, and when vendors sold, they kept me on as tenant, as I was happy for viewings to take place with me living there. The purchasers bought it as a buy-to-let, and were happy for me (good clean tidy tenant) to stay on.

Its worth getting a lower rent for good tenants.

shouldnotbehere · 26/01/2011 11:46

shhooook, just realised how old this thread is.

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