If the attic conversion doesn't have any investment gain (other than maybe boosting the potential resale value of your home) then surely you're comparing apples with oranges here? I'm not really sure what sort of advice/opinions you're looking for...I am looking for the best investment option on the long term and best use of cash , knowing that converting attic will have no investment gain
Could be complicated if the current home is a 2-story. Living space on a 3rd floor, including converted attics means extra fire insulation protections are required on the stairwells along with more stringent escape requirements. Without these you're risking a refusal of insurance cover in the event of a claim.but not so sure about having a stranger at home , unless I make a dedicated entrance to attic
This is an unhelpful remark. To my mind the OP was pretty clear.Your question is like - "What will I have for dinner tonight and where should I go on holiday?"
They are pretty much unrelated.
If you want to invest in a property, go right ahead. Most landlords are leaving the market. And you left it last year but now want to get back in again.
Sounds as if you are not really thinking about these issues.
Brendan
They are indeed 2 different options , and each comes with its own cost . Being a landlord nowadays is becoming more difficult with very aggressive market but on the other hand money sitting in the bank with almost no interest. I am not into stock market and shares investment .This is an unhelpful remark. To my mind the OP was pretty clear.
Given two options, whats best use of my cash.
To the OP, I would simply say that they are two very different options that you are considering and there is a lot to weigh up regarding each. In particular, imo, one of the biggedt things to consider is are you ok with prospect of being a landlord again?
Other big consideration, how much do you want or need attic conversion. As i said though, theyre two very diff options.
I did quite the renting market as interest on mortgage was decreasing and I was not able to claim enough expenses , but with new mortgage that will be possible
There were multiple reasons for quitting last year and that was one of them.This was a fairly basic mistake but you don't seem to have learned from it. Decreasing interest and expenses mean increased profit, not a very good reason to quit. Especially now that you are thinking of going back, with all the expenses of exiting and re-entering.
Thanks Purple , I read this article this morning and turned me off completelyYou'd be out of your mind buying a property to rent out at the moment for multiple reasons which are only going to get worse.
Better options are;
Convert the attic.
Go on a world tour.
Just burn the money.
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