to sell or not to sell

[dawn444]

Hi can u guys help me out,just moved in with my partner and I already have a property, mortgage 120,000 valued at 150,000 recently its on the market but ive beed advised to let it out and invest, however im unsure, I have read many reviews on this forum and the views seem to be mixed, the market at present is slow, do I take the equity and run, or ride out this market before I really see any potential profit, also if the market was to crash as predicted by so called property experts how many years on average does it take to pick back up to where it left off.

regards D

[Simon Dewsberry]

"also if the market was to crash as predicted by so called property experts how many years on average does it take to pick back up to where it left off.

regards D"

One for mystic meg .....methinks!

[paul99]

Well.... It may well slow down, level off, decline for a while, it may not, and I wouldn't trust that Meg anyway, but i don't see it 'crashing' too dramtically. So can you afford to ride out for a while if it does? If so then keep it as in investment, you'll make far more than the current equity in the long term...

[jlordland]

Hi Dawn,

Im currently looking at jumping into BTL, even during this time of uncertainty.

Advice given to me is go for it as long as yoru prepared to stick it long term.

Somewhere else I read indicated that the property price you have indicated is in the bracket that will be amongst those least affected by any house price decreases.

So stick with it.

SD