Happy Girl
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Any opinions or advice on the following would be very much appreciated.
The house next door to us (detached) has come on the market. It has been rented for the past number of years and was flooded due to a burst pipe at Xmas.
The house has been completely redone and is now up for sale for 215k. There is a bid in of 200k which appears to be the highest bid being offered.
These houses would have commanded an asking price of up to 380k a few years back.
So My question: would we be mad to consider buying it & getting into the rental "world"?
Basically our situation: our own house is mortgage free, both working in relatively secure jobs, and without any major expenditures on an ongoing basis.
We would need to borrow about 120k over 15yrs.
Should we consider buying or should we just sit back and thank our lucky stars that we are mortgage free in the current climate?
The house next door to us (detached) has come on the market. It has been rented for the past number of years and was flooded due to a burst pipe at Xmas.
The house has been completely redone and is now up for sale for 215k. There is a bid in of 200k which appears to be the highest bid being offered.
These houses would have commanded an asking price of up to 380k a few years back.
So My question: would we be mad to consider buying it & getting into the rental "world"?
Basically our situation: our own house is mortgage free, both working in relatively secure jobs, and without any major expenditures on an ongoing basis.
We would need to borrow about 120k over 15yrs.
Should we consider buying or should we just sit back and thank our lucky stars that we are mortgage free in the current climate?