House Moving
 

Well....

Off the back of the house selling market being a total nightmare for those people stuck & wanting to move, the rental market is actually blinking cut-throat.

We've been trying to find a house for rent for the last month or so & have had very little joy. It just seems that rents are going up & up & there's far fewer houses available in our area, which means that loads of families are chasing every house.

But....

I think we actually might have found somewhere :)

I've been a bit cheeky & managed to haggle the owner down by £100 per month, but we're still looking at £1600 for a 4 bedroom house. We were just lucky - it went straight away, but fell through & I know the agent through school who mentioned it.... the owner is emigrating so couldn't face any more messing around, so we're really hopeful that this might finally be it :D

So please send any spare karma my way, especially since OH hasn't even seen this house & could be signing the contract on it next week!!!

Re: House Moving
 

No replies, but just enough Karma to make a difference :thumbsup::thumbsup::thumbsup:

Thank you :D

Re: House Moving
 

Fingers crossed OH likes the house :thumbsup: £1600 a month :eek: how long are you thinking of renting this property, just me being nosey :)

Re: House Moving
 

£1600 per month :eek: I know, tell me about it :eek:

We're 40 minutes commute from central London in an area known for years for it's excellent schools, say no more :blink:

We reckon we'll be there at least a year, whilst we sort the legal situation out for taking the kids to Oz - their father refuses consent. I needed to move for my sanity, where we are at the moment is a bargain (:blink:) at £1100, but has no garden & the kitchen is upstairs :eek:

Re: House Moving
 

I can't believe the rents at the moment. We have had 3 quotes so far to rent ours out - £2,200-2,750. I would not pay it myself but apparently some would.

Re: House Moving
 

Hello,

What sort of realistic "sell in a month" value at today's prices, would your house be at; to be able to command a rent of say a minimum of £2200.00. Just interested to see if rental yields are on the increase in the UK?

Cheers

p.s. just seen your classified http://www.rightmove.co.uk/viewdetai...a_n=1&tr_t=buy

Lovely house, what is your minimum, you are willing to accept? There is no way i would rent that out, too nice to leave here in the UK.


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Re: House Moving
 

I don't know the answer to that one. We have been driving round to look at the competition at approx the same sort of prices and it seems to be priced to sell but who knows because it is not sold yet.

We don't want to rent it out but what else apart from sit here and wait.

Nicky

Re: House Moving
 

Well..... it all hung, I thought, on whether OH would like the shower.....

He hated it :(

But fortunately, the rest of the house was sufficiently splendid to sway him :thumbsup:

The current tenants move out next Friday - so it'll be all systems go from there:thumbsup::eek::thumbsup:

Re: House Moving
 

Good that is alot of money, where abouts is that if you don't mind me asking?

Re: House Moving
 

Thats Bullshit huh !!!!!!!!!!!!!!!!!!! farkkkkkkkkkkk

Re: House Moving
 

My cousin pays just under $1000 per week in North Bondi so £1600 per month near London seems a bargain

G

Re: House Moving
 

Hi Nicky

I don't envy you. I was thinking about your rental income and someone else's check on whats going on in the market so I got out my calculator. At £2700 a month thats 4.7% pa on the value of your property, then there's costs like the agents and then voids and income tax. I would have thought you wouldn't find the profit worth the hassle so I can see why you don't feel its right for you.

Re: House Moving
 

Crazy money isnt it !

Re: House Moving
 

Hi there

We are working on the assumption of getting 2500k pm, although I think it is ridiculous, people pay it for some reason or other. We are only 15 mins up the A10 from North London and direct route by train into Central London, so I suppose that is why it is high.

I have tried to work it out how well it will cover us and taken into account mortgage, house and contents insurance, agency fees but have not looked at tax side of things yet. We would be able to cover all the above and more for emergencies but not if the interest rates were to rise drastically. What do you mean by voids? We don't want to rent to make a profit just to get to Oz and I really don't want to leave our house to other people to mess up either.

We are still for sale at the moment so hopefully it will sell.

Nicky

Re: House Moving
 

Just a tip... if your mortgage is interest only, all of the interest is tax deductable. Plus alot of your other costs too. So if you balance it out approx. with your rental pcm then you'll pay little to no tax, although you must account for it with self assessment and apply for the Non Res Landlord Scheme (so your agent pays you gross and does not deduct tax for you).

If you make a profit, you pay tax on it. Voids is just a term for your empty periods between tenants.