To Buy or Not to Buy?

chicken_5

I am not sure if anyone will be able to give me some advice on this but figured it wouldnt do any harm to ask

My Boyfriend and I are currently saving up for a house which will take another year approx (in london)
We plan on moving to singapore after we get married for a few years (he can work over there with his existing company and will earn more). We would need to get married before we went so I could get a visa and a job over there too. (we would prob go for 2-3 yrs)
So basically now what we are trying to decide is should we save up buy a house, then save up to get married, then go abroad and rent out the flat till we come back.

Or do we leave the house till we get back from singapore and just save up and get married and go sooner, because we will come back in a better position finacially and will probably want to buy a bigger house anyway

or should we keep saving up buy a cheap house in another city with a uni and rent to students, and then sell that when we get back?

Reason I ask is because if we make no money on the house then is it really worth the hassle of saving up finding tennents whilst we are away etc I dont imagine we will be able to afford 2 houses when we return so if we didnt want to live in it we'd have to sell would you make any money after a couple of years?

Does that make sense? sorry if its a bit confusing
thanks for your advice in advance

dougk_2

Save the money - it will be less hassle in the long run.
You may quite easily change your mind over the next few years and decide to live elsewhere.

RHemmings

dougk wrote:

Save the money - it will be less hassle in the long run.
You may quite easily change your mind over the next few years and decide to live elsewhere.

Have a very close look at what is happening in the "property hot-spots" in the USA right now. Think carefully to yourself about whether it could happen in London, and if so, what the consequences would be for someone who bought now.

lynzpower

I agree with Doug, just stick the money in the bank, watch it grow. Minimum hassle, maximum pleasure

thats what I wish Id done LOL

chicken_5

sorry to be dim - what do you mean about property hotspots in USA? where should I look to find out?

Thanks for all your advice

ravenfield

save your money and buy a place in singapore. singapore housing market has slump for the past couple of years. some of my relatives there had negative equity but the prices is starting to pick up now. best time to invest there and especially when you are going to stay there a good few years. also worst time to invest in the UK now.