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1,100 rent on a 200k property? Where is that?
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Where is that calculator?
So you could roughly assume for every 12 months you get ~9 months of rent as income? That's not chump change - it'd buy at least a week's beer. :)
I guess I'd need to speak to an accountant to see if the extra income messed with my tax or whatever.
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That's obviously based on no mortgage payment though (and some pretty low estimates like letting agency fees of 1%). You'd expect a decent return on that.
You could get a similar return, for a lot less work, with a S&P 500 tracker or similar so really it comes down to whether you want to keep the property to either live in at a future date or hope for significant increases in the property value.
NotThamesWater
hippy
aggi
@sohi
I am not sure how good this calculator is but that doesn't look too bad, I would probably be
in another country if I would be renting out so not sure about the income tax situation.
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