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By *nigmatic1 OP Woman
over a year ago
A seaside town near you! |
I live alone in a 4 bedroomed house (aaaw I hear you say!) I'm hardly there during the week as I work long hours and am away at least a couple of nights and when I am home I tend to stay in the kitchen so that's a lot of house not getting used! Due to getting fleeced by an ex...(yes women get fleeced too!) ... I've ended up with a big mortgage. The quandary is my brother has been on at me for ages to move in with him...he's got a big house too so there's plenty of room and we get on fine so do I sell my house and move in with him or do I rent my house out and move in with him or do I stay put and keep paying a big mortgage? Any advice would be appreciated!!  |
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By (user no longer on site)
over a year ago
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"Sell the big house and buy a small house. "
This, then you can still accommodate, assuming you mean in your house. If you were with your brother, could you still do that, if, im assuming he doesnt know you are on here? |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
What's the rental potential?
You could rent it out, move in with your brother and make a little cash whilst paying the mortgage and keeping the house.
Or you could rent it out, rent a small flat yourself, still make some cash whilst paying the mortgage and maintain your independence - and still keep the house. |
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By *nigmatic1 OP Woman
over a year ago
A seaside town near you! |
I've looked at downsizing and it doesn't save a lot on the mortgage plus I'd end up having to do it up as the cheaper properties are knackered. He doesn't know I'm on here but I doubt he'd bat an eyelid. That was one of the things I mentioned I.e. What if I wanted to bring a bloke home  |
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By *nnyMan
over a year ago
Glasgow |
If the sums work out, I'd rent your house out and pay the mortgage from the income. You'll get zilch in interest on the proceeds of a sale whilst it'll increase (a bit) in value while you continue to own it. |
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By *nigmatic1 OP Woman
over a year ago
A seaside town near you! |
"What's the rental potential?
You could rent it out, move in with your brother and make a little cash whilst paying the mortgage and keeping the house.
Or you could rent it out, rent a small flat yourself, still make some cash whilst paying the mortgage and maintain your independence - and still keep the house."
I'd easily be able to rent it out and the rent would cover the mortgage...it's my independence I'm worried about although I am the big sister lol |
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By *umpkinMan
over a year ago
near the sounds of the wimborne quarter jack! |
If by renting it out you can keep the mortgage payments up, then move out and rent it! At least then if your circumstances change you have the option of moving back in or selling at a later date when prices rise.
I`m in a three bedroom semi and I`ll be on my own in it when I retire. It will effectively be my "pension" when circumstances dictate although I would prefer to finally leave it in a wooden box!  |
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By *nigmatic1 OP Woman
over a year ago
A seaside town near you! |
"If the sums work out, I'd rent your house out and pay the mortgage from the income. You'll get zilch in interest on the proceeds of a sale whilst it'll increase (a bit) in value while you continue to own it."
That's what I'm thinking it's just scary having to consider others...I'm used to being on my own and calling the shots but is it really worth it? |
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By (user no longer on site)
over a year ago
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"What's the rental potential?
You could rent it out, move in with your brother and make a little cash whilst paying the mortgage and keeping the house.
Or you could rent it out, rent a small flat yourself, still make some cash whilst paying the mortgage and maintain your independence - and still keep the house."
This seams a good plan rent out the big house and rent your self a one bed flat you still have your independence and should ( as long as big houses rents for more than morgeage ) save you some money x |
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By *nigmatic1 OP Woman
over a year ago
A seaside town near you! |
Thanks to everyone that's posted so far...I need someone else's take on this so it's appreciated!
I'm ok with the mortgage payments it's just do I really need to be on my own paying for a house this big when I can put the money to better uses? |
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By *nnyMan
over a year ago
Glasgow |
"If the sums work out, I'd rent your house out and pay the mortgage from the income. You'll get zilch in interest on the proceeds of a sale whilst it'll increase (a bit) in value while you continue to own it.
That's what I'm thinking it's just scary having to consider others...I'm used to being on my own and calling the shots but is it really worth it?"
You won't know till you try it and whilst I appreciate money isn't everything, it can be true that two can live as cheaply as one. |
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