Selling your house and renting

V

Vodka_girl

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I found this article about the pros and cons to selling your house what do people think? Would you consider selling your house and renting?


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I would not buy a house if it involved a mortgage substantially more than renting a luxury pad where ever I wanted....
 
You house is your home as well as an investment, so there are emotional as well as financial factors to consider. The article seems to be focused on the retired people who have built up substantial equity & whose house no longer meets their needs (going to shows in the west end instead of raising a family).
 
Mynydd said:
Would the landlord not pass the interest hikes on to his/her tenants?
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A landlord can only get what tenants are prepared to pay/ It is all supply and demand. With all these new apartments and houses being sold as buy to lets, there is a lot of competition among landlords to let their properties.

I know a few landlords and not one of them cover their mortgages with the rent they receive.
 
Landlords who have bought in the last two years might have difficulty covering their mortgage. Those who have a few properties, some of which were bought a number of years ago, will have no problem supplementing a mortgage on one from rents on the others.


As to people not willing to pay rents asked....I wish them luck. Recent reports on TV have indicated that rents are rising but that does not mean landlords are passing on interest hikes in their entirety. Those who wish to rent have to live somewhere so I don't think it feasible to imagine that landlords will drop their rents to accomodate them!
 
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