To buy or not to buy, that is the question!

edited 30 October 2015 at 9:16AM in Mortgages & Endowments
15 replies 1.2K views
finnadfinnad Forumite
9 Posts
edited 30 October 2015 at 9:16AM in Mortgages & Endowments
Morning all,

I have a bit of a dilemma which i would really appreciate some advice about. I currently live in a 2 bedroom apartment with my wife and new born son, the mortgage is in my wifes name and we have around £53,000 left to pay, it was originally purchased for £130,000 and similar properties in the area are now selling for £170,000.

I have just inherited £60,000 and im usnsure whether to pay off the remainder of the mortgage and save for a new deposit and rent this property out, or to just sell the property and buy the family home we have always wanted. Similar properties in the area are renting for around £825 PCM.

Any advice would be appreciated!
«1

Replies

This discussion has been closed.
Latest MSE News and Guides

Card providers to reserve up to £100

When you pay at supermarket fuel pumps

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals