UK’s housing market is ‘defying expectations’
3 years ago
Do I sell my letting property?
10:56 AM, 5th April 2023, 3 years ago
41
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Hello, Not a long one this!
I’ve had a 3 bedroom semi for 4 years, let it to a single mum with no real issues but she’s now given notice as she’s met a partner.
Do I sell?
The house is fully paid for, EPC grade C, fully checked and up to date regarding gas/electric etc.
The main reason for this question is up and coming changes in legislation and CGT, reading about issues with non paying tenants, house probably needing a new bathroom/kitchen in the next 5 years (but that might be me being picky).
House is a k rendered 3 bedroom with extremely large garden and allotment, located in a small cul-de-sac in Yeadon, Leeds, west Yorkshire and valued at £180k.
Am I safe continuing renting, or should I get out while I can and bang the money in a high interest account?
Thanks in advance,
Tim
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UK's housing market is 'defying expectations'
Member Since December 2022 - Comments: 21
1:31 PM, 22nd April 2023, About 3 years ago
Reply to the comment left by Armo at 06/04/2023 – 09:44With inflation at 10% I personally would not leave it all in the bank. You will be paying capital gains, which you can defer if you invest in an EIS. Talk to your accountant or financial planner. Also top up pension. I am only telling you what I have done but you need to do your own research and make a decision tailored to your financial goals and life choices.