property question

[cris r]

What would you do in this situation ? We have two properties, we bought a new smaller property to semi retire to and put are bigger more expensive propety on the market but unfortunatly the market as it is ( no one buying )we now have two properties to keep with council tax ect, we re thinking of taking the bigger property off the market as if we did mamage to sell where would you put the money, even the banks dont seen that safe at the moment we are fortunate that we dont have a morgage on any of them. My husband has mentioned renting the new one out but I know I would not want to live in it after so we would have two properties to sell and I would be looking for another for retirement any ideas

[Ethel]

Firstly there are ways of making sure your money investments are safe in every event - it just takes organising.

Why not live in the smaller one and rent the big one ou?

[jno]

Banks are safe. When Northern Rock got into trouble the government rescued it; they don't want banks going under. But remember that for savers only the first thirty-something thousand of your savings is protected, so it pays to put money in more than one bank.

[cris r]

I did suggest that but my husband did not like the idea it has been our family home for years and all that . My husband is very good at managing our finances all tho he worries all the time with the economy as it is, I dont really want to sell the new house as we have done a lot to it it just seems the logical thing to doas my husband says. I think I am just looking for support

[Ethel]

The logical thing is to rent out the big house, live in the smaller one, and sell the big one when the market improves.

You don't intend living in it forever, as you have said, so you might as well get an income from it now.

[buildersmate]

The cost of the double council tax for a year or so is likely to be a relatively small sum compared to the change in value (up OR down) in the 'value' of the properties. You should perhaps consider the underlying reasons / timing for selling them based on the economic outlook, rather than the short term pain of paying double CT.
And as others have said, you can rent one out.