- lun. 20 févr. 2023 10:23
#212321
I'm after a little advice please. I am just about to move in with my longterm girlfriend in a house we have bought together. This leaves my small terrace in Sheffield to either rent out or sell. I think I have about £60-80000 capitol in the property and an £80000 mortgage on it, with minimal other savings having just bought another house.
I'm pushing 40 and have spent much of my life self employed (though not anymore) so my pension pot is minimal (I am paying in to a work one currently and should be eligible for state pension etc. as i've always paid my stamps)
I think the house needs a fair bit of work doing on it before rental though nothing structural. Maybe £5000, but certainly a lot of my time. I've been told it would rent for £700-750 once the work is complete. I could do most of it myself, but while I'm a good bodger, i'm not exactly neat...
The question is whether its worth it or whether I should cut my losses and invest the money elsewhere. I need to get this right as it is in effect going to be my pension
(FYI i have looked at getting a financial advisor, but most don't seem interested when the amounts involved are so low)
All thoughts greatly appreciated
I'm pushing 40 and have spent much of my life self employed (though not anymore) so my pension pot is minimal (I am paying in to a work one currently and should be eligible for state pension etc. as i've always paid my stamps)
I think the house needs a fair bit of work doing on it before rental though nothing structural. Maybe £5000, but certainly a lot of my time. I've been told it would rent for £700-750 once the work is complete. I could do most of it myself, but while I'm a good bodger, i'm not exactly neat...
The question is whether its worth it or whether I should cut my losses and invest the money elsewhere. I need to get this right as it is in effect going to be my pension
(FYI i have looked at getting a financial advisor, but most don't seem interested when the amounts involved are so low)
All thoughts greatly appreciated
FLTL_BY2011N2