the husband and i are splitting up, he's got his own properties, and i've got mine (one) i'm moving to south africa and wanting to set up business (hoping to kickstart writing/art career) and will need funds. should i sell my flat here in the uk...??? is it worth it? would u if u were me?
2006-08-30 09:00:20 · 16 answers · asked by Wisdom 4 in Business & Finance ➔ Renting & Real Estate
thanks for all the answers so far, i think i'm still confused! (Peter D - are you stalking me??? *rubbing hands togetha* wow! i've got a stalker, guess i'd better shutup or all of yahoo ppl will all want one too, what will 2343234 say?? will she hate me?? oh dear, well, h.d.e IV arts is the higher diploma in education IV = 4 years in Arts (Arts subjects such as languages and arts - i did languages ;-) pls i still need more info about my problem!!
2006-08-30 09:25:44 · update #1
If you're planning to move permanently to South Africa, then it may be a good time to sell up. House prices in the UK are very high at the moment, and there's no guarantee they'll stay that way. Also, releasing funds might come in very useful to help you start your new life/career. What I wouldn't recommend is selling it and investing it all in property in South Africa, given that you presumably are unfamiliar with the market there.
On the other hand, you need to figure out the economics of renting it out - would this actually provide you with a useful regular income, or would you merely be covering your expenses? Do you know someone trustworthy (perhaps family) who can keep an eye on it, let you know if the area is "going downhill", etc, or will you have to rely completely on a letting agency? Can you afford for it to be empty if you lose a tenant?
I live in France and for the time being have kept my property in the UK, but I have the opportunity (which I don't always take, of course) to visiting the area 2 or 3 times a year, and in any case it's in a very stable suburban area.
2006-08-31 05:20:40 · answer #1 · answered by Graham I 6 · 0⤊ 0⤋
Now is not an ideal time to sell, but if the property is priced right you will have a good chance of selling it.
Inventory is at all time highs, while interest rates are near historic lows. This creates a buyer's market.
That being said... the nice thing about selling now, is that we know what the market is doing now. We do not know what might happen in the Real Estate Market in the future. The market may continue to decline.
Thanks,
Kevin
Realtor
http://www.kevinscolastico.com
2006-08-30 10:06:00 · answer #2 · answered by kevin s 2 · 0⤊ 0⤋
House prices are a matter of supply and demand and like every "investment" prices can go up or down.
Factors to consider include
1> The ratio of average house prices to average income is
very high at present.
2> British interest rates will continue to rise as we try to stem inflationary expectations.
We aren't allowing too many new houses to be built.
We have a lot of "much needed" immigration from Eastern Europe. They need housing especially in the South East.
It's nobodys decision but yours and South Africas housing market is hot too so get your crystal ball out.
2006-08-30 09:48:41 · answer #3 · answered by jewelking_2000 5 · 0⤊ 0⤋
If you really need funds then go ahead and sell but if you are unsure how long you will be in South Africa and would like to have a home to come back to one day (as you could always rent it out) then don't sell.
2006-08-30 09:06:44 · answer #4 · answered by Keira 6 · 0⤊ 0⤋
If you could handle it I would hold off selling right now...at least in the USA the rates are bad and the market is slow...so you can possibly earn more $$$$ by hilding off if you can rent your flat for a year or two till things get better...if not sell to highest bidder!!Good Luck in SA with new chance !!
2006-08-30 09:06:17 · answer #5 · answered by fxbeto 4 · 0⤊ 0⤋
Trial and blunder i'm afraid. it is not extremely a reliable time to sell precise now with each and all the interest cost hikes, and mortgages are no longer being presented to easily every physique. additionally there's a glut of residences on the marketplace for the duration of the rustic, with new advancements offering incredible incentive schemes. I bought an apt interior the summertime and it grow to be on the marketplace for 4 months with purely one actual involved social gathering. that they had me subsidized right into a corner with their requests, yet i grow to be happy to get rid of it because it grow to be a purchase to enable assets that grow to be costing me a fortune. wait and spot, yet mindset your agent and ask what they are doing with the merchandising.
2016-10-01 02:31:55 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Hi
Depends how much you need the funds, I would consider letting the property as your investment will probably increase approx 10% per year on average ( depends where you stay ).
2006-08-30 09:03:52 · answer #7 · answered by FAQguy 2 · 0⤊ 0⤋
If you can afford to pay the mortgage on your own, then don't sell yet. Refinance it and use whatever cash you'll get to buy him out. However, since you're moving, sell and just use it to start your new business. Good Luck!
2006-08-30 09:15:59 · answer #8 · answered by dunce002917 2 · 0⤊ 0⤋
If your moving country i'd sell it , the money will stretch a lot further in South Africa.
2006-08-30 09:03:56 · answer #9 · answered by agius1520 6 · 0⤊ 0⤋
In the long run real estate prices are going up, so only sell if you have no other source or funds...
2006-08-30 09:05:19 · answer #10 · answered by Turak 3 · 0⤊ 0⤋