Hi,
What would you do?
Am owner of rented property. Now mortgage free with tenants moving out in Summer. Worth 200k ish ( bought for 185k in 2003) ,needs 10k spent on upgrading kitchen ect ..rents circa 1000k per month in my area. I am 60, steady job, no financial issues..I have been very lucky with tenants, 20 years, never a problem. Looking for advice on to stick renting or sell..only problem on selling I see is the return I would get on my 200k if invested.
Gut feeling is to sell, had a good run. Seems to be hard to make money work for you at the moment though, rent would bring in 12k before the usual deductions and hassles. New incoming Government may be nasty to landlords.....
Any advice appreciated, Thanks, Martin.
What would you do?
Am owner of rented property. Now mortgage free with tenants moving out in Summer. Worth 200k ish ( bought for 185k in 2003) ,needs 10k spent on upgrading kitchen ect ..rents circa 1000k per month in my area. I am 60, steady job, no financial issues..I have been very lucky with tenants, 20 years, never a problem. Looking for advice on to stick renting or sell..only problem on selling I see is the return I would get on my 200k if invested.
Gut feeling is to sell, had a good run. Seems to be hard to make money work for you at the moment though, rent would bring in 12k before the usual deductions and hassles. New incoming Government may be nasty to landlords.....
Any advice appreciated, Thanks, Martin.