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Rent or buy?
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femalenomad
Posts: 5 Forumite
I need some advice please. Will shortly get some inheritance money and am currently renting a flat. My partner and I have been here working since 2003 and will be here for another 5 years. Now wondering whether to continue to rent or to put a deposit on a property which we would live in and then rent out when we return to Australia.
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I'd consider buying a place which will give you the same or less in mortgage payments than your rent is currently and then sell in five years when you return to Oz. Owning a property which is let when you're thousands of miles away might not be as simple as you think it might be and you'll have to cover void periods as well and lettings agency fees on top. Then, once you return to Oz you'll probably need the money to buy somewhere when you get home in any case, I presume.0
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