adam1
Active Member
- Joined
- Feb 9, 2003
- Messages
- 291
- Location
- Yorks
- Car
- E220CDI avantgarde-tansanite blue with sand-cream leather .Honda Civic, Honda Stream SESport( 160bhp
Ok we know the housing market isn't gonna crash...but anyone thought of investing spare dough into property....rather than the beloved motor.
Well I've got cash tied in the car which i have been advised by many people to put it into a house which might one day come useful for the little brats.
I put an offer on a house and it was accepted. Now I'm having second thoughts...It would mean i'd have to sell the car and keep the family car. The car itself would raise 22K which would go towards the 40K deposit. The house is around 150K. Plan to let it out for around £550 month. Using the best calculators out there I will be just breaking even with effectively zero profit or a loss, since the expenses will exceed the rent(if i manage to let it out) The house needs central heating, new kitchen and a eventually a drive for off road parking. Its in the suburbs. I like the house..its spacious but we wouldn';t live in it since its only 3 bedrooms...but one day it may be useful.
I'm I mad taking a risk of falling house prices for the next few years and zero or negative yields. However i can meet the payments even if i can't let it out.
However the return of investment over 10 years...if house prices say double every 7 years is more attractive....
Whats your thoughts....big decision.....
Well I've got cash tied in the car which i have been advised by many people to put it into a house which might one day come useful for the little brats.
I put an offer on a house and it was accepted. Now I'm having second thoughts...It would mean i'd have to sell the car and keep the family car. The car itself would raise 22K which would go towards the 40K deposit. The house is around 150K. Plan to let it out for around £550 month. Using the best calculators out there I will be just breaking even with effectively zero profit or a loss, since the expenses will exceed the rent(if i manage to let it out) The house needs central heating, new kitchen and a eventually a drive for off road parking. Its in the suburbs. I like the house..its spacious but we wouldn';t live in it since its only 3 bedrooms...but one day it may be useful.
I'm I mad taking a risk of falling house prices for the next few years and zero or negative yields. However i can meet the payments even if i can't let it out.
However the return of investment over 10 years...if house prices say double every 7 years is more attractive....
Whats your thoughts....big decision.....