Mortgage or Travel In 20's

AndyBSG

It's a tough one and 10 years ago I would have said to do a bit of travelling then look at becoming a home owner.

However, given how tough it is to buy a property nowadays and the fact prices are going up all the time you may well be surprised at how much extra you'll have to come up with by delaying for a year.

tara747

Travel!

You won't regret it.

Of all the things I've spent money on, travelling is the one thing I don't regret.

dirty_magic

Can't you do both and add a year into your savings target? If you just want a one off holiday in America it's not going to put you back that far.

We've managed to do both by having lots of cheap holidays and a couple of expensive holidays. You can travel quite cheap if you look for cheap flights anywhere and don't decide where to go first.

I wouldn't give up holidays, they're too important to me!

goodwithsaving

I'd buy now, save to travel (and maybe rent it while you're gone) later.
True you only live once, but buy a house and suddenly your later years are better catered for e.g. try buying when you have children, try retiring when you've still got rent to pay.