Wednesday, 8 June 2016

Putting our house up for sale

In 2011 I bought two houses following the inheritance i received after my dad's passing back in 2007. The house we bought as a buy to let opportunity has been a nightmare so we've made the decision to put the house up for sale.

Our rental property is a two bedroom midterraced property near to the town centre. Ideal for first time buyers, single people or for buy to let opportunity. I didn't buy a property and expect it to make cash quickly but I didn't expect to have so many issues with tenants even when it was being managed with a letting agent....who then went bust. The reason i decided to buy another house to rent out was so we had an income coming in, i was at university at the time and only in a part time job and i thought it would be a good investment. But since having Joey and then being made redundant and still out of work we just can't afford to spend money on the house. 
So after a few years of saying "we're putting the house up for sale" its now actually going to happen. The current tenants are moving out at the end of this month so it just makes sense to put it on the market instead of renting it out again. At the time of writing this we are 2 weeks away from the tenants moving out and the house went on the market today. We're still waiting to get access to the house so that the estate agents can take internal pictures and floor plan, once they move out though we then have the task of getting it sale ready. So the pictures that you see in this post are from when the house was previously on the market when we bought.
I'm excited but nervous about having the house on the market for a few reasons;
  1. current market isn't great it's just slow. Its not as if houses aren't selling though
  2. location of the property - since we bought the house 5 years ago the area has had a spat of drug raids 
  3. how long until we get a sale? It could be months. 
  4. Will we get anything near what we paid?

We both know that it's the best thing to do to put the house up for sale, it's not been the best experience and I'm not really bothered what we sell it for. Aslong as we don't lose a lot from what we originally paid then I'll just be happy to get rid. I will be documenting this journey here on the blog, any tips on selling a house would be very greatful.

No comments:

Post a Comment