To Sell or to Keep?

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  • To Sell or to Keep?

    Greetings all from New Zealand....

    I emigrated here in Sept 04 and kept one property in Sussex which I have rented out for several years. Stay with me.. this IS relevant!

    Basically, I have a mortgage of £50k on a flat valued at £95k.

    I rent it out for £500 a month. The mortgage and maintenance totals £320.

    My question is - do I sell up now and take the profit of £45k - or do I continue to rent? i.e. am I going to have problems with the value of the property falling which would , in turn (I assume), also mean less people looking to rent as first time buyers are more able to get onto the property ladder.

    I'm by no means a professional landlord, but thought I'd try posting here to see if any of you guys could give me your thoughts...

    Thanks
    Moorf
    NZ

  • #2
    If you want it long term I would say don't sell as property price always go up eventually.

    Even if they go down for a year or two, they will go back up and over the current prices.

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