Soldato
I think you're targetting the wrong multiple home owning landlords here. When I watch Homes Under The Hammer, there is always at least 2 multiple property owners who have 5+ houses on their books. They are all in it for the profit.
last stats i saw that is objectively not true......Fact is, more people are doing it every day.
What does that tell you?
Woohoo ~£138 profit per month or ~£1,650 per year, big money moves. With profit margins so slim he'd be better off selling the house and sticking the money in a pension.
And the above is before we start to talk about the risks of renting, fixes / damage / a tenant not paying for months on end / house prices might not go up.
not at all...... if the government want to increase their rental stock I am not stopping them, and nore am I asking them not too. IF the policy has changed then show me the stats.The government also didn't want gay's in years gone by. They also didn't want women voting. They wanted to be a part of the EU. Then they didn't want to be part of the EU.
Governments change. Policies change. Times change. Yes they sold off a **** ton of housing via RTB etc.. does that mean they will never, ever again want to increase their social housing stock?
Your assertion that the current way is the only way, is flawed.
It's profit per month in your pocket PLUS your property paid for (which also appreciates). I'm not saying it's some easy get-rich quick scheme, but it's clear who benefits the most from the relationship.
i want to have something to hand down to my kids that will be of use to them in the future. whether that be as a home, even if only temporarily, as it was for me and my wife when we started out, or so they can sell it and have a bit of ££ to get them on their feet.If it's not about the money/profit then why own it and rent it out?
She could afford it seeing as she is paying nearly 4 times the mortgage amount, she might be unable to buy it for whatever reason there is a difference. Unless of course she's on benefits, in which case EVERYONE is paying you 4 times the mortgage amount for her to live there, which doesn't seem a good deal for the taxpayer.
i want to have something to hand down to my kids that will be of use to them in the future. whether that be as a home, even if only temporarily, as it was for me and my wife when we started out, or so they can sell it and have a bit of ££ to get them on their feet.
house is mortgage free, should i just let it sit empty? or should i rent it out?
Rent 520 mortgage payment 147 maybe he needs to implement a reading programme for you. Having said that it does seem low on a buy to let mortgage so maybe interest only which is worse.I can see you're the demographic Sunak is aiming his continue maths until 18 for
Rent 520 mortgage payment 147 maybe he needs to implement a reading programme for you
10 grand over six years is only about £1,600 year. Hardly worth writing home about
last stats i saw that is objectively not true......
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Number of rental homes has almost HALVED since 2019
The number of properties available to rent per estate agent branch has dropped from an average of 30 in March 209 to just 15.6 in March this year, research shows.www.thisismoney.co.uk
so seems you are getting your wish you should be happy with all those cheap houses on the market.
i want to have something to hand down to my kids that will be of use to them in the future. whether that be as a home, even if only temporarily, as it was for me and my wife when we started out, or so they can sell it and have a bit of ££ to get them on their feet.
house is mortgage free, should i just let it sit empty? or should i rent it out?
The appreciation in property value in not guaranteed, it depends on market timing. PLUS you need to pay capital gains tax upon disposal, which with the reduction in the upcoming tax-free allowance is yet another significant hit.
Why limit "benefit" to simply ringfence the financial element of the exchange?
Not sleeping in a cardboard box in the local park is a major tenant benefit.
other than the huge tax bill when selling, along with legal fees, combined with the other huge stamp duty and legal fees again when buying.At no point really does maintaining ownership of a second property give any advantage over the above suggested scenario.![]()
Why I didn't post the numbers, you might want to make an actual point instead of being passive-aggressive and snarky.
He pays 147 she pays 520 the other costs of being a landlord don't apply to her seem to be you could afford to own it but not be in the position to buy it.
Rent 520 mortgage payment 147 maybe he needs to implement a reading programme for you. Having said that it does seem low on a buy to let mortgage so maybe interest only which is worse.
Seeing as deliberately inflammatory analogies designed to flip the perspective of the morality get the Karen's all upset
Why I didn't post the numbers, you might want to make an actual point instead of being passive-aggressive and snarky.
other than the huge tax bill when selling, along with legal fees, combined with the other huge stamp duty and legal fees again when buying.
if he took your advice he would be many £1000s out of pocket from a purely financial pov he may as well rent it out completely free.
I think you're targetting the wrong multiple home owning landlords here. When I watch Homes Under The Hammer, there is always at least 2 multiple property owners who have 5+ houses on their books. They are all in it for the profit.
WOW £10K over 6 years.Emotional claptrap