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Makes sense.
Cash hanging about is going to lose value right now IMO, interest rates are low and I imagine inflation will mean you lose money over the long term unless you find a decent account that locks it firmly away for a set time.
If you do want to sell it and make as much as possible from the sale then you need to get those upstairs rooms sorted or you will get lowballed. People don't want a property that is going to NEED immediate attention. Sure, the ceilings look hideous but the bare walls are what draw the eye. Get rid of the fitted wardrobes that fell off the ark and all the clutter and it will look more appealing. It's not a bad house by any stretch of the imagination but unfortnunately presentation is everything. Magnolia exists for a reason, usually because people have no imagination so need everything spelled out for them but it also serves as an easy starting point that anyone moving in can easily decorate over.
I wouldn't bother with the big jobs you mention, just concentrate on the small ones that tell a buyer (or renter) whether it has been cared for or not.
If we sold and paid off the mortgage and all fees etc we will be left with between 50 and 55k profit as a deposit to go towards our next house.
Don't know if anyone has already mentioned but you do know you'll probably need to pay capital gains tax on your profit. Not sure what the allowances are as I haven't checked recently.
[i]Why are you asking whether to sell or not then???[/i]
Sell it then, and go back to the ones who offered £195k and take their offer.
Pay your own early-redemption fees, you've already said you're making a profit. Stop being greedy, focus on what you actually HAVE to do rather than what you'd LIKE to do. And stick the money somewhere you won't spend it.
Otherwise you could end up in a worst situation.
I'd sell it, bank the profit and bank any money you would have spent adapting the outgoing property to get it how you'd want it. If house prices go up then you've added to your deposit for a house you actually want but if house prices fall then you're quids in.
sell it, use the money to try every single bike available on the market.
one of them will be right, surely.
Not a nice idea but if possible I'd suggest:
Look to find Mrs Renton a job in the right neck of the woods. Move Mrs Renton into house.
Move to smaller cheaper non married quarters on new posting.
Keep house.
Don't have two of you unemployed when you leave the forces and you find a new job. In this case any cash you've put away will evaporate (you mention retire though and forces pensions used to be reasonable so maybe less of an issue).
Sell house and move to suit new job once found or, if Mrs Renton has good job in area by then take the supporting role income wise and find a job locally. Don't sell house.