Sell now or later

[PGR]

We have an investment property which is costing us 3 times what we are getting in rent. We can afford to continue paying the mortgage but it will leave us on a tight budget. The question is should we sell up now at a loss or would it be better economically to wait for about 5 years or more before selling? Will house prices come up in the near future and if so by how much?

 

[44brendan]

We have an investment property which is costing us 3 times what we are getting in rent. We can afford to continue paying the mortgage but it will leave us on a tight budget. The question is should we sell up now at a loss or would it be better economically to wait for about 5 years or more before selling? Will house prices come up in the near future and if so by how much?

Nobody can provide an answer to the question on house prices. Economically its likely to be better to sell now if you can. However, given the briefness of the information provided by you, this is a general advice only.

 

[johnmurf83]

if the property is in dublin, it may be better to hang on. if its down the country or in a small town i would get rid. cant see small towns recovering any time in the near or medium future. either way if its costing three times what you're getting in rent, then there is no right answer really. both options come with negative consequences