I've got a family member who's flat is worth about 10-20k less than she paid for it almost 10 years ago in the north.
She says she can't sell it as she would loose money. But she's been paying significantly less on the mortgage and maintenance than rent would have cost her and built up about 80k equity in the property.
So even selling it at a 20k loss she would make 60k and probably saved a similar amount in rent. But she is still insisting she's been hard done by when I think she's done pretty well out of it and want to tell her to stfu.
Am I wrong or is she?
She says she can't sell it as she would loose money. But she's been paying significantly less on the mortgage and maintenance than rent would have cost her and built up about 80k equity in the property.
So even selling it at a 20k loss she would make 60k and probably saved a similar amount in rent. But she is still insisting she's been hard done by when I think she's done pretty well out of it and want to tell her to stfu.
Am I wrong or is she?