oakcountyguy
Registered User
- Messages
- 3
Hi all,
Looking for some advice.
Married, 2 kids.
Combined income 115k
We have the following properties and are not sure what to do.
1. Home house, 4 bed detached, ok estate but not our house for life, value 290k, mortgage 175k.
2. Investment house, 3 bed semi, rented out, covers the mortgage, value 185, mortgage 110, 9 years left to clear.
3. Investment house, was not the plan as we were going to move there, built over an 8 year period, gifted the site, no mortgage, rented so an income, value 220k.
I know we are fortunate, but we want to move from property 1 to a nice home for our family, which means selling property 3 for sure, and to be almost mortgage free, if we sold our current home house also.....someone has advised we do not sell the current home house, but rent it out, and keep the existing mortgage amount, are we mad to consider this, there's 14 years left on it. Would we just be putting ourselves under pressure ?
Looking for some advice.
Married, 2 kids.
Combined income 115k
We have the following properties and are not sure what to do.
1. Home house, 4 bed detached, ok estate but not our house for life, value 290k, mortgage 175k.
2. Investment house, 3 bed semi, rented out, covers the mortgage, value 185, mortgage 110, 9 years left to clear.
3. Investment house, was not the plan as we were going to move there, built over an 8 year period, gifted the site, no mortgage, rented so an income, value 220k.
I know we are fortunate, but we want to move from property 1 to a nice home for our family, which means selling property 3 for sure, and to be almost mortgage free, if we sold our current home house also.....someone has advised we do not sell the current home house, but rent it out, and keep the existing mortgage amount, are we mad to consider this, there's 14 years left on it. Would we just be putting ourselves under pressure ?