What Should I Do?

[Ric.ror]

I currently live in a flat near my mums which I have to live in until ....
I have a three bed semi in an area I'd rather live which I could either sell now and buy a property in an area I'd like to live which I can rent out until I can live in it OR should I rent out the 3 bedroom and then sell that to buy a smaller property when the time is right?


I hope this all makes sense and welcome any advice

[Peter Pedant]

you lucky boy you capitalist - you have two houses a flat
and a three bed semi

Q do I sell the three bed and buy another and let
OR do I just let the three bed ?

Easy - find out what the rents are in both cases
you cant claim mortgage relief on a let property now which is a bit of a posser - repairs are claimable
and see which gives you more moolah in say five years

it'll be keep the three bed and let it
but you need to see for yourself

If you sell the three bed now there is a capital gains tax possible charge wh will screw any calculation about whether selling is an option UNLESS you inherited it yesterday

dont tell us anything else
you have enough info to make a reasoned decision yourself

[Islay]

Rent out the house you own now, otherwise it is going to cost you lawyer costs and estate agent cost etc etc.
Then when that time comes you will be able to keep yourself occupied looking for a new place!!

[Ric.ror]

Oh no I knew I'd word it wrong
I have one flat and one three bed house.
Ps Pete - I'm a girl

[Ric.ror]

I might just add I have no mortgage on either
I don't own the flat yet my mum owns it I just live in it