selling up and renting?

Has anyone done this or going to and pros and cons please.

Re: selling up and renting?

Why would you want to, would be my first question. Renting runs the risk of being kicked out for any reason. Own property increases in value, renting is loosing money

Re: selling up and renting?

Hi

No, No and No.

You are causing yourself so much stress, your house is not your own and you are reliant upon others.

You can be evicted every 6 months.

Really not worth the hassle.

Re: selling up and renting?

I might consider this if and when my little sister moves to Norfolk. I have thought of renting somewhere for six months, get the flat emptied and done up, new floor coverings etc., and put it up for sale. If it doesn’t, then I’ll come back. If it does, then I’ll have some capital to buy a little property outright. Or I might stay renting. But I’d like to give it a try and look upon it as a nice long holiday. Hopefully near the sea.

Re: selling up and renting?

A lady who I knew through another friend decided to sell her house and rent , she wanted to travel the world and she did. Her intention was that when she reached pension age and had £16,000 left the government would have to pay her rent and council tax as she would be entitled to benefits .

It is something I've thought about possibly going into an over 50s retirement flat paying the full rent using my pension and having the money from the sale of the house to holiday with . Like many it's a case of asset rich and money poor .

Re: selling up and renting?

Hi sarah I have considered renting a house.

There is a lovely country estate near here with a lot of beautiful Victorian cottages originally built to house workers. They are dotted about the parkland and very pretty. I had my eye on one of those.

The big drawback for me is a loss of security even with a long tenancy. The other is would I be able to afford the rent indefinitely, I would have to use the proceeds of the sale of this house to pay my rent, I couldn't pay it from my pension.

There is nothing to compare with the security of knowing you own your own house and no one can take it from you, it helps me to sleep at night.

Re: selling up and renting?

We are still talking of selling up when we retire and renting in Spain, we'd have money in the bank to enjoy our retirement. However, we don't know how this will lie now we are coming out of the EU.

Re: selling up and renting?

Do you honestly think an council will put her on the top of the housing list. If you think that your are living in dream world. She more than likely be offered a hotel room for a night and that is it, she is then on her own.

There are far more deserving causes than someone making themselves deliberately homeless, she stands no chance

Re: selling up and renting?

Sounds great BUT are you aware of spanish property laws? No, then you need a spanish solicitor to help you. Remember it is easier to move to Spain than getting back to the UK if things don't work out. With house prices rising so fast you will really be struggling to get back to where you were before homewise.

The grass is always greener on the other side except Spain has very little of it

Re: selling up and renting?

It's not as simple as that. The Local Authority and benefits departments can look for evidence of deliberate deprivation of assets and capital.