Looking to move in with my boyfriend. I’m 30, he’s 28. We’ve been together for a year, all going well etc. The complication being, that I own a one bed flat in London, whilst he rents a studio. Would really appreciate advice on which of the below is the best option:
⁃ he moves in with me. He doesn’t want to: it’s a bit too small to be comfortable, and he doesn’t like the idea of invading my space, rather than creating something that’s ours. I’m in agreement that this isn’t the right option.
⁃ I rent my flat out, and we rent a different flat together. My mortgage is currently £1,250. My guesstimate would be that my flat could rent for about £1,600. To get the kind of place we’d want to rent, we’d probably be paying £1,500 a month each. I suppose it’s whether the faff of me renting out my flat is worth it - aware you have to change your mortgage to buy to let, pay tax on any earnings etc. I would find an agency to manage the day to day of tenants.
⁃ Sell my flat and rent together. Having worked hard to get on the property ladder, this feels like a big backwards step. It would be nice to have the equity back from my flat, but equally I don’t think it’s the best time to sell, think I’d do well to get back what I paid for it in 2021.
⁃ Sell my flat and buy together. Feels like quite a big move having never lived together
Any thoughts that I haven’t considered/outside perspectives would be much appreciated.