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Dilemma Sell now or wait
roxyruth
Posts: 1 Newbie
Hi
I live opposite my new Partner. I am currently renting and have somewhere between 30-40k invested but cannot access this until the end of 2009.
My Partner owns and has about 80k equity in his property now.
We want to buy a house at the end of the year but to help save money is it best that I move in with him in his own house and i save the rent money each month or should he put his house on the market, sell it at a sensible price invest the money, move in with me and save each month the money he would have been paying for mortgage
Really unsure best avenue to take
Would appreciate any suggestions
Thanks
I live opposite my new Partner. I am currently renting and have somewhere between 30-40k invested but cannot access this until the end of 2009.
My Partner owns and has about 80k equity in his property now.
We want to buy a house at the end of the year but to help save money is it best that I move in with him in his own house and i save the rent money each month or should he put his house on the market, sell it at a sensible price invest the money, move in with me and save each month the money he would have been paying for mortgage
Really unsure best avenue to take
Would appreciate any suggestions
Thanks
0
Comments
-
How much is it costing you to rent each month?
How much is your partner paying in interest each month on his property and add to that the interest he is losing on the £80k equity tied up in the property (remembering BoE rates are currently just 1.5%)
They are the easy questions to answer.
The more difficult one is how much your crystal ball suggests you might lose or gain in capital on the Partner's property between now and the time you sell it. Despite the answers you may receive, no one knows for sure the answer to this question."Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100
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