Should I Rent my house or Sell it.

Should I sell?

  • yes
  • no

0 voters

I Have a property worth 360000 E in dublin 12. (this is taking into a 40000 loss over the last 6 months (as I had it valued then and it was valued at 400000. My morgage on the property is 205000. My morgage is 1100 per month. I should reasonably expect to get 1300 for the property per month and that is minimum as I know worse houses than mine are going for 1500. (3 bed) it is in very good nick if I do say so myself.

my question is should I rent or sell. I am of the opinion I should rent and see out the crash. i want the property as a long time investment anyway.

Anyone have any thoughts?

How much did you pay for the property and is it a house or apartment ?

If you want it as a long term investment you’ve already answered your question. You don’t sell it. You’ve already missed the peak by quite a bit and your valuation currently wouldn’t be matched.

read the post it tells you

Be wary of advertised prices as oposed to actual rents. Remember the info on this is foggy at best not even the CSO can be trusted.

I believe the actual rent achieved is in fact different in some cases compared to what you see on daft. It really is only a guide.

Goo tenants are worth a discount for the money and hassle you will save in the long run.

After deducting income tax, the cost of repairs, maintenance, insurance and the risk of rents falling and after deducting the cost of dealing with tenants, I estimate you have a yield of approximately nothing %.

I’d take the close on 200k and stick it in the bank if it was me.

What is your yield?

I see your point. But I am looking to have a house in dublin for the next thirty years or more. (kids college etc) and the house is beside Luas. When am I ever going toafford a house in dublin again?

my yield nothing. I dont want tomake a profit. Just not a major loss. I am even willing to take a hit on the rent over a few years. But I dont think I am going to have too.

**The Unwelcome Guest wrote:
**

And are about to miss the peak by an even bigger bit.
40K down in 6 months ?
Flog it fast.

So clarify mate.

The usual parlance would be a long term investment not long time.

Long term would suggest the utility value, as your last post kinda bears out it is more important, to be honest I think in 10 years time you might be sitting prettyish, remember, it’s not just your property that is affected, the key is to get whatever outstanding mortgage you have into a controllable level and at the same point ensure that you have both job security and purchasing power.

If there’s more than yourself involved, I’d definitely say stick.

Good advice its what i am thinking.

Long term I know I am going to be okay. UNless interetrates rise by 3%. One other thing I am intending to buy another house (going to rent for another 6-9 months first. going to pay 375000. Combined income of 100000.

Ok… Now you’re trolling!!! :stuck_out_tongue:

explain???

Or maybe I should. I am going tobuy another family home doen the country. going to spend 375000. \combined salary with partner 100000E

Be wary of advertised prices as oposed to actual rents. Remember the info on this is foggy at best not even the CSO can be trusted.

I believe the actual rent achieved is in fact different in some cases compared to what you see on daft. It really is only a guide.

Good tenants are worth a discount for the money and hassle you will save in the long run.
quote=“Open Window”]

Poster is 100% correct,a good tenant should always be looked after,no reviewing of rents annually,LLs who treat good tenants shabbily deserve th lousy rabble they get when the good uns move on!
Frank I would suggest you try posting on other sites,also do not drip feed relevant pertinent information half way through,you want feedback?allow people the full story to base their replies on.

Surely you don’t need anyone’s advice here. You sound pretty canny to me!
Since when has this site become a sounding board for specuvestors? Of Course Frank you don’t really want to sell do you?You want someone else to pay for your pad down the country.
thepropertypin.com/viewtopic.php?t=11078

I dont see the point in the link to my previous post. And another thing Im glad you think im clued in. Althought In my opinion more clueless than clued in. But there you go

Would you really now. Your full of suggestions. Who are you to be dictating to me how I should post questions??

Will the rent cover your mortgage after you deduct income tax at 41% on the balance less your interest payments and capital allowances?

Just about but no more.

I was being sarcastic Frank! Haven’t you heard of Canny McSavvy? As for your nasty little retort to Rimbaud, I think it sums you up. I think you and your ilk are parasites, but there you go! :slight_smile:

Hi there. i think calling me a parasite is a little strong. I mean my retort to Rimbaud was it really that nasty?? Certainly no more nasty than calling me a parasite. My ilk?? What the f… are you talking about???