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To sell or not to sell

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    To sell or not to sell

    I need to generate an income to keep me in beer when I move to Cyprus next yr.

    Do I sell my house now in a falling market (may take time) or do I let my house?

    Learned panels view please.

    #2
    If you're unencumbered, let it!

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      #3
      Why not try for both and see which happens first

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        #4
        How much is it worth?

        What income can you generate off the capital? If this is enough to live on, then I'd sell ASAP.

        At best, house prices are not going to crash - they will remain level. At worst they could take a large fall. Probably somewhere in between.

        So, if you sell with a view to re-entering the market in 3-5 yrs (a total guess I'll admit), then you've a lot of up-side and not much down-side risk.

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          #5
          Worth about £230K in today's downward market.

          My back of a fag packet calcs show rental income (about £900 a month after letting fees) is about what I'd get on the capital via interest.

          My gut feel is sell and re-enter the UK market later with two large flats later on.

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            #6
            Well done DimPrawn, you chose the correct response.

            Now all you have to do is sell the bloody thing

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              #7
              Now all you have to do is sell the bloody thing
              Yeah I'm really looking forward to that process.

              Estate agents are saying it's totally a buyers market now and their books are bursting with unsold properties. Sellers will not accept the market is falling, buyers are biding their time, picking off *bargains* from those that must sell up quick.


              * Still no such thing as a bargain, but give it 6 months of tax increases and new builds.....

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                #8
                Keep it. In 25 years time it will be worth £500K. Meanwhile you might have lost the money on the stockmarket.

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                  #9
                  We chose to sell my Mrs old house after renting it for a few years and seeing it climb stupidly in price to its peak last summer. A couple of broken chains and a healthy discount later ( more off on each sale ) its 'fingers crossed' going through on Friday. I'd get it flogged if you can still get somewhere near the peak.

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                    #10
                    ...so just out of interest what were the discounts on each sale?

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