Got a ground floor 2 bedroom apartment with a morgage of approx 70k, had this for 2 years and is now worth approx 120k. We want a 3 bed home as we wanna try for another sprog.

I can rent this out for circa £600pm and they are HUGELY sought after due to the private location, both for purchasing and leasing.

Its really ideal for a small family, young or elderly couple.

Anyone want to buy it, offers please.
Nah only kidding, you get so many people do this in the main forum I thought i'd give it a go

Anyway, my options are;

Rent it out for circa £600 (part furnished/no appliances)
and get a new morgage for a 120k-140k 3 bedroom terrace council house.

OR
Sell the fooker and get a 180k 3 bedroom house, garage etc in a private area.

What would be the best way in your opinion to "climb up the ladder".

I personally want to rent it out for a while, and buy the cheaper house, whilst I build up more funds for a larger home.
I'm 24 so I know I will be progressing in my career and I don't want to "loose" the equity that has built up over the last 2 years and put it on a property that has done the same.
But the bint wants a nice flashy home not in a scummy council area, full of soap dodgers and immigrants

 

The laters going to be easier long term. You start renting you've got all the shite that goes with that. If they dont pay you suddenly you've got all that cack as well. Plus dont you become a landlord and liable for upkeep and other stuff?

Scummy council area kinda speaks for itself. Could you sell your house in that location when you want to move out?

 

Well i label all concil areas scummy but no its not that bad, i was brought up in a "middle class" council area, and thats the kind i'll be looking at. Not the proper shitholes.

My old man rented his 2nd house out to the council, and got about £100 p/m below the private leasing average. But they sort all payments, evict the people they put in every 6 months (to prevent them claiming squatter rights) and when the agreement ends they redecorate for you.

But if i rent privately/through an agent, yeah your right, depends on the contract i guess.