Browse Forums Rental Property 1 May 19, 2008 9:58 pm During this whole game of construction, things have really gone quite swimmingly for us. As far as selling our existing house went, Plan A was to sell it a couple of months before we got the keys to the new house, which is around August. We changed our minds and instead put it on the market last October to try and attract a buyer before interest rates went too high, but with the provision that we could rent it back from the buyer so that we didn't have to move twice. We knew that this condition of sale would narrow the market but eventually the house did sell, 2 months ago, and settlement is tomorrow. We have secured an initial 4 month lease which should provide a good deal of overlap, with the option of a month-by-month lease if things really hit the poo. Couldn't be happier. Even though we are up for 4 months rent, at least the house is sold, and the money from settlement almost wipes out the construction loan, saving us heaps in interest.
The thing is, we have never ever rented in our lives. Why do I feel uneasy? Geoff - Decophile. Re: We are now RENTERS! 2May 20, 2008 9:10 am Yes, it must feel strange renting your own house, oops, not your own house any more. Someone else paying the council rates, water rates etc and if something needs repairing you would start to do it, then suddenly remember its not up to you any more.
We had sort of the opposite situation - a unit we had as a rental property for 5 years we then sold to our son. Council rates etc now his problem, and even going into the place felt strange at first, even though it is only about 3 miles from us, we never went inside while it was tenanted, the agent did all that. Re: We are now RENTERS! 3May 20, 2008 11:10 am as you can see the house prices have dropped a bit in the last few months, you are so lucky to sell the house before it starts dropping, also you can rent until the handover... you have got everything worked out smoothly, well done...
for me, i chose to hand on my current house until i move into the new one, but i will be worried that i may not get the price i want later of the year... decision, decision... a hard one to make Blog - http://clageonewhouse.blogspot.com/ Building Thread - viewtopic.php?f=31&t=10886&hilit=milan I am in, with my husband and my beautiful bunny This is one of the reasons I decided to go overseas for my double glazed windows. As the builder indicated, he's worked on many upmarket builds, these were the most well… 13 31945 2 20144 https://form.jotform.com/240284569218058 Please spare a moment to fill out this survey form for a project. You stand a chance to win a digital gift voucher. Legitimate… 0 8664 |