My husband and I are wondering whether to sell or rent our 5-story house on the street to move to an apartment.
My husband and I are 28 years old, with an income of about 55-65 million VND a month. From 2020, we have been supported by both parents with a ready-built house with an area of 31.8 m2 and 5 floors. When they first moved in, the couple’s income was still low, so they felt very happy because they didn’t have to worry about buying a house. Over time, the requirements for living space become higher and my husband really likes living in an apartment because of its spacious floor plan and many amenities.
We live close to the urban area near Yen So park on Tran Phu street, Hoang Mai district, so we often go there to enjoy natural amenities. I found out that the newest building here has a rental price of 9-10 million VND a month, not including service fees. My husband wants to rent out the entire house he lives in, the highest possible price is 7 million VND a month to convert to an apartment. The second option is to wait for the price to sell. The current market price is about 3.5 billion VND, which can be used to buy a new apartment for 3 billion in an urban area. After 3 years, we will also profit about 900 million VND if we sell the house.
I do not support the idea of selling my house because my house is located in a pretty nice location on Tam Trinh Street, Hoang Mai District. However, spending 10 million VND a month to rent an apartment also makes me confused because my family is about to welcome their first baby and has many expenses to spend.
We hope experienced readers can give us advice. Thank you!
Readers Nguyen Khanh Huyen