Should I sell or keep my 1st "sentimental" House

[Baptiste P.]

Hi everyone,

as shared in my first post here, I built a house back in France 4 years ago, total cost 250k€, today it would sell about the same price, excluding agency fees and taxes. Reason for buying the house initially was to live in it for an indefinite number of years (and not at all to be used as a rental property), but I got offered the opportunity to move abroad for work which I couldn't decline because it was my dream.

We decided to keep the house and rent it out as it was "less catastrophic" than selling it for a major loss and also because we were proud of the work we put and the result we had.

Today, my cashflow is negative by 400€, the only value I'm getting is the mortgage repayment at this stage, but we're only keeping it because of its "sentimental" value, and an eventual use for our retirement.

This was my first real estate investment, since then, lessons have been learned about buying and anticipating future value and cashflow, which we did with an apartment in Ireland (bought it, refurbished, lived in it, and now positive cashflow of 500€).

What are your thoughts on this? Has anyone been in the same case? What did you learn from it?

Thanks a lot,

Baptiste

[Account Closed]

@Baptiste Pichon

Investments don’t have feelings. This is a numbers decision. That’s it. If the numbers work, keep it. If they don’t, sell it or figure out a different strategy that’ll make the numbers work.