NotMyName
Registered User
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Hello, I'm new here and looking for some advice please. We purchased a house two years ago in a rural area for €140k. We are moving in with our elderly in-laws to help them out at home, and are trying to decide what to do with our home. Our in-laws home will become ours in the future. Do we sell our home or rent it out? I think we could probably rent for 700-800 per month. Or could we get a good return if we put some work into the house and sell this year?
Some background:
- 3 bed, 2 bath detached house with large gardens - and one of the most amazing views of the countryside I've ever seen (the reason we bought the house!)
- We have done some work on the house. Landscaped the front garden, insulation, new radiators throughout, new boiler, new hot water tank, repainted half the rooms.
- Probably needs repainting in the rest of the rooms, potentially painting the outside, back garden tidied up, etc. What work would you consider to be essential to sell a house for more than you bought it?
- 2 outbuildings, not watertight and need work (re-roofing, concrete flooring, new doors).
- We have a mortgage with the bank of €45k and an almost interest free family loan of €50k and were gifted the remaining €50k. We pay a total of €700 in repayments per month.
What would our best option be financially? Is renting a good option? Or should we do some more work on the house and try to sell it for a good price? Let me know if I haven't provided enough information - it's all new to me. Thank you!
Some background:
- 3 bed, 2 bath detached house with large gardens - and one of the most amazing views of the countryside I've ever seen (the reason we bought the house!)
- We have done some work on the house. Landscaped the front garden, insulation, new radiators throughout, new boiler, new hot water tank, repainted half the rooms.
- Probably needs repainting in the rest of the rooms, potentially painting the outside, back garden tidied up, etc. What work would you consider to be essential to sell a house for more than you bought it?
- 2 outbuildings, not watertight and need work (re-roofing, concrete flooring, new doors).
- We have a mortgage with the bank of €45k and an almost interest free family loan of €50k and were gifted the remaining €50k. We pay a total of €700 in repayments per month.
What would our best option be financially? Is renting a good option? Or should we do some more work on the house and try to sell it for a good price? Let me know if I haven't provided enough information - it's all new to me. Thank you!