My Nan’s house.

[mickd1961]

Finally today, I completed the deal to buy back my dear old man’s house.

She lived there in Harrogate from 1929 when she married my grandad until she passed in late 1990.

I must admit, I was surprised just how emotional I became once I was there in the empty house on my own.

Anyway, a decent sized project to get my teeth into and I hope to do the house and my old nan Nellie proud once completed.

I’ll be doing holiday lets there once completed so if any of you need a place in Harrogate from early 2024 you’ll be more than welcome to a special rate.

[BaggieSingh]

Sounds great buddy, good luck

[mickd1961]

Sounds great buddy, good luck

Cheers BS.

[soulman101]

Pleased for you Mick after what you have been through with your bad Tennant's . You deserve it.
My mate has this week got on of his rentals back , a 4 bed detached, after a 2 year fight and the have wrecked it ,every room.

[mickd1961]

Pleased for you Mick after what you have been through with your bad Tennant's . You deserve it.
My mate has this week got on of his rentals back , a 4 bed detached, after a 2 year fight and the have wrecked it ,every room.

B a s t a r d s Lloyd. and the law protects these scum as well.

Thank you, I hope I do the house and nan justice.

[soulman101]

Hi Mick, how does the tax implications work if you sell a rental?
He told me the tax would be to high if he sold it, he has had the house since 96 .

[mickd1961]

Hi Mick, how does the tax implications work if you sell a rental?
He told me the tax would be too high if he sold it, he has had the house since 96 .

Capital Gains Tax has to be paid Lloyd.

You pay 28% if you’re a higher rate tax payer or 20% if you’re a standard rate tax payer.

Noe’s the time to sell though as they’re planning to increase this tax and if Labour get in it’s likely to go up a lot more.

Your friend is still going to make a large profit so he might as well sell and buy himself a nice holiday home by the coast and then rent it out as an Airbnb like we now do.

The rental take is 3 to 5 times more than for residential letting, you can pay Business Rates instead of Council Tax if you rent it for enough nights and thus you pay zero!

Residential renting is now a low profit, high taxation, poor benefit mugs game.

He needs to cash in now mate.

[DaveP67 is back!]

Air bnb definitely the way to go, you can look at a person a rental history and avoid the pitfalls of long term renters rights.

[boingy]

Well done 👍 I understand the emotional side too.

[mickd1961]

Well done 👍 I understand the emotional side too.

Thanks mate, went down to the house again today and enjoyed the birdsong and peacefulness.