Should I sell my new flat or rent it out?

[ANDYCHAT]

Hi everyone- I have bought a very nice open plan 1 bedroom flat in West Yorkshire, off-plan whith a interst only BTL mortgage.
I researched the selling prices in the area before and they were very good, but now, the estate agents tell me that because of so many off plan flats being bought by investors in this area ( brighouse ), they are finding them hard to sell.
I could sell to break even, allthough it may take several months.
But if I rent it out, I would have to rent t a loss , probably for a few years untill the value of the flat increased.
Does anyone have any similar experience, or any ideas as to whether I should subsidise the mortgage and rent it out, or sell it ? Thanks Andy:)

[Worldlife]

What percentage mortgage do you have in relation to the current market value of the property.

If you are highly geared you will be in competition with investors with lower debt committments who in a competitive market will be able to undercut your "break even" rent.

Do some calculations of your total outgoings and a competitive rental allowing for vacant periods and maybe rent arears. Do a total estimated budget for repairs, insurances. Decide what taxes and charges will be included or exclusive in the rent.

It is impossible to give advice as to whether to sell or whether to rent unless a full and detailed cashflow account is set up and without knowledge of what losses you might be able to sustain.