Just looking for comments on my reasoning behind selling my house in Galway.
I am moving abroad. I was going to rent it out but when I looked at the figures (Income - Interest, Management Fee, Repairs (10%), Tax, Insurance) would only have given me a return of 1.2% on the capital I could free up. I really don't want the hassle/worry of renting either.
I am ignoring the capital appreciation/depreciation of the house as I don't want to break the rules by speculating on house prices.
When I sell if I put my capital in the likes of Northern Rock Deposit I'll get 4% (after dirt). I would probably spread it around in different assets which could make more over time.
Is my reasoning correct ?
I am moving abroad. I was going to rent it out but when I looked at the figures (Income - Interest, Management Fee, Repairs (10%), Tax, Insurance) would only have given me a return of 1.2% on the capital I could free up. I really don't want the hassle/worry of renting either.
I am ignoring the capital appreciation/depreciation of the house as I don't want to break the rules by speculating on house prices.
When I sell if I put my capital in the likes of Northern Rock Deposit I'll get 4% (after dirt). I would probably spread it around in different assets which could make more over time.
Is my reasoning correct ?