Should I sell?
Posted: November 28th, 2018, 8:30 am
Hi Fools
I own my home outright and I've also got a cottage I rent out. I bought it for 143,500 in 2011 and I'd probably get 155,000 for it now. I've spent the difference on maintaining it. I've a 50,000 mortgage on it that costs me £378 pm. The tenants pay £600 pm. The money invested in this property is basically my pension, I'm self-employed and a single parent.
I'm beginning to think I could do better managing the money I have invested in the property in other ways that would not create such a big potential tax liability. Doing the sums it doesn't look like I'll get much of a return on my investment by keeping the property on.
I'd really appreciate thoughts from other fools
I own my home outright and I've also got a cottage I rent out. I bought it for 143,500 in 2011 and I'd probably get 155,000 for it now. I've spent the difference on maintaining it. I've a 50,000 mortgage on it that costs me £378 pm. The tenants pay £600 pm. The money invested in this property is basically my pension, I'm self-employed and a single parent.
I'm beginning to think I could do better managing the money I have invested in the property in other ways that would not create such a big potential tax liability. Doing the sums it doesn't look like I'll get much of a return on my investment by keeping the property on.
I'd really appreciate thoughts from other fools