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Should we sell?

Discussion in 'General Chat' started by Zayna, May 15, 2010.


  1. Zayna

    Zayna PetForums VIP

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    Im so fed up..

    OH and I have a mortgage for a 2 bed flat in basildon. Have lived here for nearly 4 years now.

    Thing is im fed up with being tied down by a mortgage plus all the other bills. This flat is costing us a fortune to live in and it just isnt worth it. its ok, but there is mould growing up the walls, its always freezing as there is no insulation and im just fed up. I just want to sell up and go and rent somewhere cheap... i hate having this mortgage hanging over my head.
    Everyone says how lucky we are to be on the property ladder and that we would regret it if we sell but tbh i dont give a s**t about the 'property ladder'. whats the point in being on it if its costing u all your hard earned wages to live there and u have no life. i just so dont want to be here right now.:(
     
  2. Waterlily

    Waterlily Amused

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    Depending on how far into your mortgage you are I would advise you to stay. It costs a lot to rent as well and that money is basically going down the drain. At least you own your home and one day can get a return on it. If your circumstances allow it why dont you consider renting elsewhere and renting out your home and using that as an income to pay off and maintain your house. :)
     
  3. nic101

    nic101 PetForums VIP

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    renting = dead money but i see your point !

    my plan is to get a mortgage after uni but sometimes i do think whats the point. your tied down paying a fortune.... with renting ok landlord could take the proprrty back however i do think it leavs you with a tad more money anda tad less worry every month!!

    i wont say if you should or sholudnt thatsupto you..... but i see your frustration! :)
     
  4. lifeizsweet

    lifeizsweet PetForums VIP

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    i would say firstly get arrange for a couple of valuations on your property so you can establish where you stand in terms of what your house is worth in comparison to what you paid for it, alot of people find they are in negative equity ...if thats the case stay put.

    Why not sell and buy somewhere cheaper so you're still on the ladder but your mortgageg isn't so high and it's not such a strain on your wages.

    Flats can be quite hard to sell - you might be better off renting it out (providing rental income will cover the mortgage) and then rent your self somewhere you prefere and are happy with.
     
  5. Zayna

    Zayna PetForums VIP

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    problem is the flat is half rent half mortgage (shared ownership) so couldnt legally rent it out to anyone.

    I think more then 2 years of living in a cold flat with no money is taking its toll on me. im just sick of life at the moment. i know there are people much worse off then me but it doesnt make me feel any better right now.

    on a more positive note we are spending a few days in devon next week with OHs aunt so that will be a nice break away from it all!

    Perhaps we wont come back;)
     
  6. lifeizsweet

    lifeizsweet PetForums VIP

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    If it's shared equity then i'd sell as there isn't really any money to be made and they are very popular so you'd probably get a quick sell once you've managed to get the housing association to value it and get it on the market.
     
  7. rona

    rona Guest

    I wouldn't get out of the property market. Everyone struggles for the first part of their mortgage
     
  8. Zayna

    Zayna PetForums VIP

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    I guess we should really try to stick it... how long for though!! I just hope things start improving!! Doubt it though with Cameron in charge of the country!!:(
     
  9. Acacia86

    Acacia86 PetForums VIP

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    I can only speak for living over here, so there really is no need for me to post but i will anyway :lol:

    I would not go back into renting. Renting is a black hole, lining someone elses pockets, you make nothing out of it, you have no say about a lot of things. If it were me i would sell up and look for somewhere cheaper to buy for now. Once you OH is back to work you can then think of buying somwhere bigger if you want to.

    Hugs xxxxxx

    Obvouisly you can disregard this post because i know nothing about property in the UK except i want to buy over there......its cheaper than here! A lot! LOL!!!
     
  10. tafwoc

    tafwoc PetForums VIP

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    I would say to sell and try and find somewhere cheaper to buy if thats possible? There is nothing worse than being stuck somewhere that you hate, and you don't call it home but a burden. :(
    I wouldn't rent though, the others are right, it doesn't get you anywhere. But i would move if you can. x
     
  11. rona

    rona Guest

    Some shared ownership schemes offer house swapping, this may be worth looking into
     
  12. Zayna

    Zayna PetForums VIP

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    Yeah will look into it... I wouldnt mind swapping to one of the smaller flats upstairs. Means we would lose our garden but I dont really care, we never use it anyway!
     
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