I was talking to a friend recently who is considering selling her house. She has moved out for personal reasons but does not want to leave it empty indefinitely
She has met with a couple of estate agents and the figures quoted had her “spinning”. The three bedroom semi-detached house that she bought for £150,000 at the turn of the century, is now worth more than double! Fantastic news but then I asked the key question ‘What will you do with the money?’ She didn’t know.
Now while the money would be nice she doesn’t really need it. She had not thought about letting her property but here are a few reasons why she is considering it now:
- With no outstanding mortgage she would get a monthly income of around £1200
- If she wanted to return to the house at a later date, she could.
- If she needed money, she could raise a loan against the property.
- She could still sell the house at a later date, if she wanted to.
In addition, while holding onto her house she will also be benefitting from what a survey by Wrigglesworth Consultancy identified as the best performing mainstream investment of the last 18 years – Property!!
It may be tempting to take the money and run, but investigate all the options before you do. At Belvoir Aldershot we are the lettings specialists.
We don’t sell properties so we are able to provide impartial advice on what makes a good property investment and how to make the most of that investment. Please feel free to phone anytime to discuss with us on 01252 328384 or email email@example.com