We bought a house a year ago and we're quite ahead with mortgage repayment. The house is very old so i'm thinking about renovating it, bathroom this year, kitchen next year etc. We've got a few quotes in and they're so expensive. If we renovate than it's way overcapitalise this house. Had a chat with our mortgage broker, she recommended to put the money (all our savings) into buying a house that i like and move in, rent the current house and the rent is likely enough to cover its mortgage. My husband is happy with that option but i'm a bit worried to have such a big debt. What would you do if you were me? What happens if we can't find a tenant or dh lost his job? Let say the mortgage is 500k, if we can't pay and only manage to sell the houses for 400k, do we still own the bank 100k for the rest of our life?