Sell or rent out?

[wigglybeezer]

I own a small shop/office, which I no longer need to use myself. Can't decide whether to sell it or rent it out. DH and I are self employed, income variable.

Pros of selling; it has gone up in value by a decent amount and we have no savings at the moment due to recent house purchase and renovations. We could also do with some cash invested short term to help fund Uni places in about 5 years.

Pros of renting: Basically I have no personal pension and DH is on a pension holiday in the short term. We could invest the income.

It is £40,000 now and peace of mind knowing we have spare money in the bank for emergencies versus £400/month gross for the foreseeable future.

I would rent it out personally, and save the £400 a month for the uni fee's. That way you still have the asset if you need to sell in the future.

Based on those numbers keep it as it is returning over 10% and you won't get that elsewhere - I would however consider what costs/voids may need to be taken into account.

Sell it, for one thing shops and offices are in many areas empty without tenants . The property market is in the early stages of a reset . I can remember in the late eighties 90s crash looking at a large modern shop with a nice flat that was going for 16 thousand . I would have bought it but the commute was 60 miles on the A12, and every day there seemed to be some hold up (single lane traffic) most of the way.
What's 400 with all the hassle ? I know several landlords and all bar one want's out. Smart people know it's game over

It isn't 10% return , it's maintenance ,voids , tax , worry , buytofret

roneik and his crystal ball again.... yawn

I don't use balls , I use my not so limited powers of observation. The property market is in decline, has been since May. It's also picking momentum. It's over and Osbourne letting people have their pensions in a lump sum is another indication of just how desperate it's getting to keep assets from resetting in normal market conditions.

resetting in normal market conditions

It will soon be we have to wear plimsolls

Oh roneik, you've done so well recently, I thought your laptop may had broke

What is it about property that makes some people so reluctant to tolerate somebody else having an opinion?
I think it must be a disconnect from reality or fear from those that exposed themselves too much to a change in market conditions

I have a very good track record with property,
By the way I was building computers before windows 93 and working on data ease before the advent of windows
I also was on dialup I have nothing to prove to you, it's pathetic I give my opinion and you cannot argue with it you have to make child like comments

Always eat cheese before it goes green , keep up at the back

I could go into endless anorak detail of how your bios chip works , that's the volatile part of the chip and the non volatile.
We must not assume by the style of a poster as a reflection of the validity of their life experience and opinions

In other words you are the weakest link Goodbye

Yes you are entitled to your opinion, but you talk utter shite. It makes no sense at all and usually has little relevance to the original post. Your observations and just that "observations" ! Just answer the question in a way that makes sense to the OP and don't follow it up in the next 2 minutes with more pointless rambling observations. Oh and I also have a very good track record with property !

OP, I apologise for my ranting on your post.

You are Count Arthur Strong and I claim my £5.

Since you started wearing plimsolls it's made you incoherent
You don't have to apologise to me I understand the pressures that the buy to fret business amateur landlords are under . I like making observations , I think after observing your rambled post I will call landlords anonymous to complain about all these so called homes under the hammer delusional wannabees

Don't send the 5 quid to her ,give it to citizens advice they are swamped with destitute repossessed buy to let landlords who are above their depth in a market that is returning to the real world mode

I rest my case !

I stopped putting mine in a case , I found it attracted the chavs .
I now rest mine in a carrier bag, waitrose of course, I don't have to go to Aldis where all the Hire Purchase Audis owned buy the fret brigade are buying broken biscuits.
I suppose if they are a failed buy to let landlords , and broken biscuits are their thing it's ok with me.