hello,
we are about to start building a new house to live in, we are borrowin 350K to complete this over 30-35 years,
we own our current house in a small village and owe approx 169K on it market value 300 - 350 k
we wont have the new house ready for another year, We were thinking welling the house but dont like renting but the current market had us a bit spooked, however we are now thinking of holding onto the house and renting once we get our new house ready, you would get 750 at the moment for it,
We'ed appreciate any help or advice, I would also like to fully understand which way we should weight the mortgages, tempted to go to NIB on the current house and get a better rate and re finance it for future renting.
i reckon that the reduction in house bulding in the long run will provide support for house prices, secondly the pric of materials is always going up,
we are about to start building a new house to live in, we are borrowin 350K to complete this over 30-35 years,
we own our current house in a small village and owe approx 169K on it market value 300 - 350 k
we wont have the new house ready for another year, We were thinking welling the house but dont like renting but the current market had us a bit spooked, however we are now thinking of holding onto the house and renting once we get our new house ready, you would get 750 at the moment for it,
We'ed appreciate any help or advice, I would also like to fully understand which way we should weight the mortgages, tempted to go to NIB on the current house and get a better rate and re finance it for future renting.
i reckon that the reduction in house bulding in the long run will provide support for house prices, secondly the pric of materials is always going up,