Friday Five!

5.  I feel a bit down today.  Not motivated.  I think it's the news from the tenant and a friend repatriating today.  And the clouds.  I'm a bit like Eeyore with the dark cloud over me.

Awww, that's not right. Have a hug and a flower!   

Awww, that's not right. Have a hug and a flower!   

Thanks Larabee!  I needed that today!

I've seen suggestions in the news of a housing market slowdown.  Prices aren't going up as fast, and houses are taking longer to sell.  Judging the market is tough, though. I don't know if you should get out while you can still get full value or hold on and hope for appreciation while you continue to bring in rental income.  I think I lean toward get out while you can, personally.  Then, if there is a crash, you could buy again in the dip if you wanted.  But I've always been extremely (overly?) risk-averse.

I think properties that are priced right can still sell.  You just can't get greedy.

If we got out of the rental market, it would be unlikely we would re-enter due to the constant government changes trying to make rental properties unattractive investments.  But that doesn't bother me in the slightest.  It would be great to get the extension we want on our house and live our best life in a great home.  Lots to investigate. 

Thanks Larabee!  I needed that today!

 

1.  OK, so the Wonder Years Kevin turned out to be Scottish, and the other guy still has not spoken, even when I blatantly said 'Good morning' directly to him... so he's probably not an American either.  However... there are 2 guys that have been in the training room all week, who I haven't clapped eyes on yet, and rumour has it that one of them is called 'Caleb'.   Biblical name... could have potential?

2.  Don't know what's up, but when I left home at 6:00 this morning, our street was all blocked off at one end with police looking very serious...

3.  And the ambulance was here for my neighbour twice last night.  I think they took her away with them after the 2nd time.

4.  It's OH's payday today... thank goodness!!!

5.  Another day, another Starbucks Iced Tea! 

Oh wow! Definitely update when you know what's happened at the end of the street! Would say it's trump but I know he's literally the next town over from me right now at the military base so that can't be it.

Which tea did you go for today?

1.  Our tenant gave her notice last night.  She's buying a new build.     Major decision time.  Do we continue to rent or do we (try) to sell and use that money for our extension and pay down our existing mortgage?  I vote pay for the extension and pay down our mortgage.  My husband is really keen to keep the rental.

2.  My grass seeds put down in the back garden are starting to sprout!  We have had to water them every evening, like naughty naughty people, but at least they are germinating after only a few days.  It's supposed to rain today (they've said this before), but I am genuinely hoping that it rains!!!

3.  I start teaching dance tomorrow morning!!  Literally need to dig out my shoes in the garage and dust them off tonight.

4.  I would like to win the EuroMillions tonight.

5.  I feel a bit down today.  Not motivated.  I think it's the news from the tenant and a friend repatriating today.  And the clouds.  I'm a bit like Eeyore with the dark cloud over me.  We did just have our 10 minute stand-up meeting about Love Island though so that's perked me up a bit.

Oh no! it's a tough call is it as either decision for you could be a good decision so it's kind of hard to make the "right" decision when neither are necessarily "wrong".

I probably need to get some grass seed. it feels like I'm living in some type of post apocalyptic haystack.  Good luck tomorrow on the dance class!! I too would like to win Euromillions but I didn't enter so I think it would take a miracle lol.

I know what you mean. Today just seems like a very meeeh day..

Let us know when you learn what's going on at the end of your street, Albatross.

KoD, if you have any vanilla ice cream, a spoonful of that takes care of the milk and the sugar for your coffee.  And it makes the temperature instantly drinkable.

haha I don't have any vanilla ice cream, just chocolate hazelnut, which might not be the worst..lol

I think properties that are priced right can still sell.  You just can't get greedy.

agree with this. It also depends on where you've got the property. If it's in a desired location where there aren't a lot of other properties up for sale at the moment, you could be fine with selling. In other places, you should still be fine but, as you said, you can't get greedy.

Oh wow! Definitely update when you know what's happened at the end of the street! Would say it's trump but I know he's literally the next town over from me right now at the military base so that can't be it.

Which tea did you go for today?

It was due to an earlier fire at the train station, which I'd been unaware of.   Road was blocked to keep folk from getting into the station car park.  Nae trains the day, then!!

Black iced tea... always!  I don't like the flavoured ones. 

I think properties that are priced right can still sell.  You just can't get greedy.

If we got out of the rental market, it would be unlikely we would re-enter due to the constant government changes trying to make rental properties unattractive investments.  But that doesn't bother me in the slightest.  It would be great to get the extension we want on our house and live our best life in a great home.  Lots to investigate.

Could you use proceeds from selling the rental house to completely pay off your mortgage and cover the extension?  If you could, that's what I'd do.  I'd be all, "debt free, futher muckers!"

haha I don't have any vanilla ice cream, just chocolate hazelnut, which might not be the worst..lol

Chocolate hazelnut will most definitely do!  I'd drink that coffee.

It was due to an earlier fire at the train station, which I'd been unaware of.   Road was blocked to keep folk from getting into the station car park.  Nae trains the day, then!!

Ahhh, thanks for following up!  I hate knowing that Something happened, but not knowing what the something was.

It was due to an earlier fire at the train station, which I'd been unaware of.   Road was blocked to keep folk from getting into the station car park.  Nae trains the day, then!!

The neighbours again?   

The neighbours again?   

hahaha was just thinking that.

Could you use proceeds from selling the rental house to completely pay off your mortgage and cover the extension?  If you could, that's what I'd do.  I'd be all, "debt free, futher muckers!"

Nope, we'd likely do a big extension, which won't be cheap.  But we'd be able to pay for it and a good chunk of the mortgage.  But not all of it.  Even if we put all of the equity in, we'd still have a mortgage.  Small but it'd still be there. 

Need to do some serious research.  I want to ensure any extension we do, we will get our money back in equity on the property.  I don't want to spend £100k on an extension and have the property value stay stagnant or only increase £50k, if you know what I mean.

Nope, we'd likely do a big extension, which won't be cheap.  But we'd be able to pay for it and a good chunk of the mortgage.  But not all of it.  Even if we put all of the equity in, we'd still have a mortgage.  Small but it'd still be there. 

Need to do some serious research.  I want to ensure any extension we do, we will get our money back in equity on the property.  I don't want to spend £100k on an extension and have the property value stay stagnant or only increase £50k, if you know what I mean.

Presumably you've ruled out a move rather than extending?

Nope, we'd likely do a big extension, which won't be cheap.  But we'd be able to pay for it and a good chunk of the mortgage.  But not all of it.  Even if we put all of the equity in, we'd still have a mortgage.  Small but it'd still be there. 

Need to do some serious research.  I want to ensure any extension we do, we will get our money back in equity on the property.  I don't want to spend £100k on an extension and have the property value stay stagnant or only increase £50k, if you know what I mean.

I do know what you mean, but you also made a remark above: "It would be great to get the extension we want on our house and live our best life in a great home."  It's surely worth a little bit to live a comfortable life... unless you don't view this as your forever home.  ... And you don't!  That's right!  You want to abandon us and move back to the US, don't you?  Yeah, be conservative/sensible in your extension so you can get your investment back out of it.  Spreadsheet time.

Presumably you've ruled out a move rather than extending?

Yeah, definitely.  We bought the house we did three years ago because of the potential it has.  Really great neighborhood and lots of the homes have been extended, so we wouldn't be over improving for the neighborhood. 

I do know what you mean, but you also made a remark above: "It would be great to get the extension we want on our house and live our best life in a great home."  It's surely worth a little bit to live a comfortable life... unless you don't view this as your forever home.  ... And you don't!  That's right!  You want to abandon us and move back to the US, don't you?  Yeah, be conservative/sensible in your extension so you can get your investment back out of it.  Spreadsheet time.

I think the chances of us moving to the USA are 50/50.  And if we do, it'd be in about 7 years.  So would be nice to enjoy our home now instead of doing the extension a few years from now and only living in it (potentially) for a short period of time.

But in 7 years, I'll have been in the UK for 15 years and don't know that I'd leave.  I mean, I don't really *know* the USA anymore as it stands....  <sigh> who knows.  Basically, I think it's best to live life now and then see what direction it takes as that time comes.  If we stay in the UK, no doubt that this IS our forever home.