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Dilemma...should I buy?
ironlady2022
Posts: 1,571 Forumite
Hi
I'm really not sure what to do and after some advice. I am 27 and been with my BF for over 5 years now. He lives in a flat owned outright by his parents (which he is paying them back monthly). He has only been in there since last Oct. I still live at home with my parents -normal in my culture to live at home til marriage - though I can break the mould.
Basically a mile down the road they have been selling new houses and I do think it is a good area and good time to buy. I earn 30k and aiming for a 16k deposit 10% of my budget of £160k. Thing is I would like to move in with the bf but as he has just settled down and it's further to his work- I doubt this would happen. I intend to buy by myself and move out on my own. But I'm afraid that marriage and children is 3-5 years away. Not sure if it is worth it to buy now or later.
The bf is 32 and earns 47k a year but looks to reduce to 35k per year as he will be doing research.
I would live in it til marriage and rent it out but always think renting a house is so much harder especially because we are 13 miles from major city. What are everyone's thoughts. I'd love to start paying towards my own 'asset'. Also my budget only allows for a 3 bed new build, ideally it would be 4 bed but its not affordable nor realistic.
Alternative is to buy a flat for around £125k and live in that and then rent it out? This option for rent would be easier as it is 2 miles from city centre.
I'm really not sure what to do and after some advice. I am 27 and been with my BF for over 5 years now. He lives in a flat owned outright by his parents (which he is paying them back monthly). He has only been in there since last Oct. I still live at home with my parents -normal in my culture to live at home til marriage - though I can break the mould.
Basically a mile down the road they have been selling new houses and I do think it is a good area and good time to buy. I earn 30k and aiming for a 16k deposit 10% of my budget of £160k. Thing is I would like to move in with the bf but as he has just settled down and it's further to his work- I doubt this would happen. I intend to buy by myself and move out on my own. But I'm afraid that marriage and children is 3-5 years away. Not sure if it is worth it to buy now or later.
The bf is 32 and earns 47k a year but looks to reduce to 35k per year as he will be doing research.
I would live in it til marriage and rent it out but always think renting a house is so much harder especially because we are 13 miles from major city. What are everyone's thoughts. I'd love to start paying towards my own 'asset'. Also my budget only allows for a 3 bed new build, ideally it would be 4 bed but its not affordable nor realistic.
Alternative is to buy a flat for around £125k and live in that and then rent it out? This option for rent would be easier as it is 2 miles from city centre.
0
Comments
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Is there any reason why you should not just marry shortly, share the flat and then buy a house together in due course?I'm afraid that marriage and children is 3-5 years away.
You would be able to save most of your income towards the purchase and would have the sale proceeds of the flat?0 -
Could you buy to let, and then if it feels right move in in a few years. If not then sell it, but assess how quickly the houses sell in that area first.0
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The other half is a workaholic and seems in no rush to get married. If only it was more clear cut then we would marry and buy big property.
As regards to the houses in the area. The new builds are selling like hot cakes but selling second hand is a different ball game.0 -
Sounds like your bf doesn't want to commit to me. If you get married, what's yours is yours and what's his is yours. If you are planning to get married in 3 years and have kids, you should be buying together. If you trust each other then what's the issue. Break the mould.
Maybe this is a better website for you http://www.thesun.co.uk/sol/homepage/deidre/0
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