"I can't sell my property because I'd lose money" - who's right me or her?

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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?
 
If the property is worth 10-20k less than what she paid for it then yes, she would lose money. She is not making 60k, she is simply getting back what she put in (minus 20k).
 
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If the property is worth 10-20k less than what she paid for it then yes, she would lose money. She is not making 60k, she is simply getting back what she put in (minus 20k).
I get that POV.

But the alternative would have been to rent and even with the 20k lower price she's still over 100k better off having bought. So I do struggle to see what she's been done hard.

She's not lived in it either for over half the time she owned it as had to move for a job and it's been rented out. So it's not even mostly her own money paid in she's getting back and wouldn't loose a penny of her own money by selling it.

She's complaining that it's empty now and has to pay the bills and is stressed. That's what she signed up to by renting it out in my book! Can't complain that she has to deal with the standard things that come with renting out a property if she chose to do that.
 
I get that POV.

But the alternative would have been to rent and even with the 20k lower price she's still over 100k better off having bought. So I do struggle to see what she's been done hard.

She's not lived in it either for over half the time she owned it as had to move for a job and it's been rented out. So it's not even mostly her own money paid in she's getting back and wouldn't loose a penny of her own money by selling it.

She's complaining that it's empty now and has to pay the bills and is stressed. That's what she signed up to by renting it out in my book! Can't complain that she has to deal with the standard things that come with renting out a property if she chose to do that.
The fact that she's rented out her property for some of the time she's owned it is neither here nor there, she is still responsible for paying the mortgage and maintaining the property. If there were any times she couldn't find a tenant she'd have to pay her mortgage and pay rent on the property she was living in. Also, her house is an asset and should appreciate over time rather than depreciate so she would lose money if she sold it for less than she paid for it. An analogy would be if you bought a jumper, wore it twice and decided you didn't like it so sold it to a friend for half what you paid - you've lost money.
 
I think the fact it's been rented out for most of the time is important.

And your analogy is not good.

It's more like, you buy a jumper for £10, rent it out to for £1 three times. Then sell it for £9. You've sold for less than you bought it for but you've got £12 for something that cost £10 and you have had all the use of it while it wasn't rented out.

her house is an asset and should appreciate over time rather than depreciate
But why? Assets go up and down in value. Many people assume a house should just make them money like a money machine. Any asset / investment can both increase or decrease in value.
 
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Appreciate the frustration, especially with regards to her not even living in it for the whole time. It sounds like she is complaining to the wrong audience.

I don't agree that she is 100k better off as this is all money she has put into the property. Buying a property is an investment and she is quite right to be annoyed if she has lost money on it. Yes, she is fortunate to be able to own a property and even more so to have someone else pay her mortgage whilst she's been working elsewhere. Presumably she was paying rent elsewhere during this time? And now, that the house is empty she is paying mortgage/bills for the house plus rent at where she is currently living?
 
I think the fact it's been rented out for most of the time is important.

And your analogy is not good.

It's more like, you buy a jumper for £10, rent it out to for £1 three times. Then sell it for £9. You've sold for less than you bought it for but you've got £12 for something that cost £10 and you have had all the use of it while it wasn't rented out.


But why? Assets go up and down in value. Many people assume a house should just make them money like a money machine. Any asset / investment can both increase or decrease in value.
Your family member is the one taking all the financial risk buying a house, renting it out when she can't live in it herself and being responsible for any maintenance (which does not come cheap). As I stated before, any time she can't find a tenant she's responsible for her own rent and a mortgage at the same time - that is a big financial risk. Why are you even so perturbed by this matter? Are you not a home owner, is there maybe a tiny bit of envy in the mix here? It's her property and totally her choice when/if she sells it and for how much.
 
I knew someone would use the your jealous card😂😂

She's had someone else paying off her mortgage and building up equity for most of the time, it's been a financial sound decision even if she sold today and yet still acts like she's been hard done by. It's annoying hearing her complain about being a landlord when she chose to do it
 
I knew someone would use the your jealous card😂😂

She's had someone else paying off her mortgage and building up equity for most of the time, it's been a financial sound decision even if she sold today and yet still acts like she's been hard done by. It's annoying hearing her complain about being a landlord when she chose to do it
No, I said envy - jealousy is something different. Easy to check the difference. I still can't see a reasonable explanation as to why this seems to bother you so much. 🤔🤔🤔
 
They're pretty interchangeable now with how language has involved.

What are you so bothered that I'm bothered by a family member🤷‍♀️
 
They're pretty interchangeable now with how language has involved.

What are you so bothered that I'm bothered by a family member🤷‍♀️
I'm really not bothered, just passing time as I can't go out due to the storm today. You asked for opinions and I gave mine - you clearly don't like the fact I agree with your relative. I'm off now, enjoy the rest if your Sunday. 😁
 
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To be honest I don’t see why it’s bothering you? Wether you’re right or wrong, it’s the family members house and money not yours so whatever they plan on doing is up to them🤷🏻‍♀️
 
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