The Property Podcast ASK241: Should I sell my property at a loss? PLUS: Should I be worried about the service charge?
Happy Tuesday! We’re back with another Ask Rob & Rob.
First up this week is Jonathan who recently got married (congratulations!). His wife had purchased a property a few years ago but unfortunately it’s now worth 10% less than what she bought it for.
But she does have 50% equity tied up in it. So here’s the big question:
Should they sell the property at a 10% loss and purchase their ideal property, or do they release some of the equity and then rent it out?
Which is going to be the more profitable option for Jonathan and his wife?
Our second caller is Serena. She has £100,000 to invest and knows that a vanilla buy-to-let is probably the best strategy for her.
She doesn’t want to commit a lot of time and her goal is to have a decent income stream so she’s got pretty much everything sorted.
But what she isn’t sure on is the location and the type of property she should be investing in.
At the minute Serena is wondering if she should buy one, or a couple of new build flats in either Leeds or Manchester city centre - if she can stretch that far. But she’s concerned the service charge is going to be astronomical on these kinds of properties.
So, should Jonathan sell or keep his property and does Serena need to be worried about service charge?
Tune in to find out what advice The Robs have for them.
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