We own an investment property for 2 years this May. Purchased for 81,000. Approx 6K improvements cost over time since purchase. Remaining mortgage amount is 52K.
Rented for the first time this past July and having a disastrous time, tenancy coming to an end. We are contemplating selling up for a variety of reasons.
Similar size properties in our area are selling for 140,000 on average. If we were to sell for 140K, roughly how much of that are we looking to profit approx once the mortgage is cleared, tax and costs are deducted etc.? With the tax bill are we better off to rent for a bit longer?
Rented for the first time this past July and having a disastrous time, tenancy coming to an end. We are contemplating selling up for a variety of reasons.
Similar size properties in our area are selling for 140,000 on average. If we were to sell for 140K, roughly how much of that are we looking to profit approx once the mortgage is cleared, tax and costs are deducted etc.? With the tax bill are we better off to rent for a bit longer?