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Sell my house or sit it out?

I am currently going through a separation, amicable I hope. My question is what to do? I was expecting to live in this house till I died, we have a large mortgage on it, plus a secured loan. If I had to sell it would leve me nothing or at worst I would still be in debt. Negative equity was never a concern but now I am stuck. I am struggling financially but in 2 years time I will be a lot better off.. Sell now and take the hit or try and stay (possibly with a lodger?) and weather the storm?

Asked on Sep 7 2011, Home Finance in Cheltenham | Report content

Answers (3)

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  • I would weather the storm. If you will be in a better position in two years time, then you might be looking at an improvement in market conditions.

    Answered on Sep 8 2011, Report content
  • Personally, I would say stay and weather the storm, however it's a very personal situation for you and without knowing the full financial facts I can only give you an opinion.

    Answered on Sep 8 2011, Report content
  • Recent experience of selling my property, and buying another suggests that property should be sold at a realistic price (Not necessarily "what you think it's worth"). We saw many overpriced properties. As a result they are "dead wood" on the market. We optimised price by moving out into temporary rent. All in all stay put where you can, I cannot see two years being enough. I suggest that you tel the other half, that to "not sell", would increase sale price (and ultimately the split between you two)...Good luck

    Answered on Jan 6 2013, Report content

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