Can pay off negative equity, but should I?

How do you feel about renting out the property and just renting somewhere else? At least you will keep your savings and property but won't have a huge mortgage?
 
aristotle said:
How do you feel about renting out the property and just renting somewhere else? At least you will keep your savings and property but won't have a huge mortgage?
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Yes, we considered this very seriously but prices in our area for a decent house in good upkeep range from about 3k to 4k per month, so you'd be paying the equivalent of a mortgage from year to year anyway. Also, with the kids and the working from home we do need the security of knowing where we'll be from year to year. And a lot of people don't consider this, but we found on enquiring that many landlords of nicer properties don't want to take pets OR families with small kids, which is understandable but a huge drawback for potential renters with both.
 
ipad - can I ask what kind of area you work in - I like your setup working from home - do you both work together?
 
Yes, we're in the same business (an area of entertainment) but don't work together as such.
 
So what's the overall verdict? Are we mad? Or is there any tiny bit of sense in there at all?:eek:
 
I think you have got both sides of the arguements, and some other options too, so its only you who can decide really.
 
Thanks all for input, going to crunch the numbers this evening and see how it all stacks up.
 
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