Buy or rent while partner at university?

trance14

Hi all, my partner has just been accepted into Derby university this year (september).

We both live at home in Doncaster with parents.

I have £40k saved for a house but now she is in Derby, she cannot travel as it is just too far so we are considering moving, but here goes my question.

Do I buy a place for the 3 years and then sell afterwards, or do I rent for the 3 years? I really dont want to move to Derby as my work is in Doncaster but what can I do, she will not be able to support her self at all, is there anything she can do to get help?

I understand it will cost a lot of money to sell a house so is it worth doing just for 3 years, or do I keep the house going in Derby and rent it out after the 3 years and get another mortgage here in Doncaster?

Any help at all giving the pros and cons would be amazing, I really do feel lost at the moment.

Thank you all!!!

:j

agrinnall

Why won't she be able to support herself, won't she qualify for the usual student loans? If she does I would have thought Derby would be a reasonably inexpensive place to be a student. Of course, that would mean living apart, at least during the week, but that's not an unusual situation.

dimbo61

No if you can afford to buy a property for you to live in near work.
Your partner can rent in Derbyshire in student accommodation.
She will get a Student loan for fees and money to live on.
Support her while at university and she can come home to see you when term ends.
If your relationship is good buying a property together in 3 years time.

duchy

If your girlfriend is going to uni then will she want to return to Doncaster afterwards or is it possible her career plans might take her elsewhere?

Is the expectation that you will start living together whilst she is at uni - or would it make more sense for you to remain at home and continue saving? She can live cheaply in uni accomadation and you can visit or she can come home some weekends.

If you bought in Derby and then split up - what would you do ? (Uni does put pressure on existing relationships - not all survive but some do)

What does she want you to do ? Why did she choose a non local uni without a plan for the two of you as a couple ? If she can't afford to live in Derby as a student - why did she apply there ? Why can't she get student loans like every other student ?

trance14

Im really not sure about student loans yet, shes 27 im not sure what she is entitled too, not looked into it yet. She is not at a local uni because this is the only one that accepted her. If she is not working how will she support her self??? I would rather buy a property here in Doncaster as this is were we both want to be in 3 years, many thanks

trance14

agrinnall wrote: »

Why won't she be able to support herself, won't she qualify for the usual student loans? If she does I would have thought Derby would be a reasonably inexpensive place to be a student. Of course, that would mean living apart, at least during the week, but that's not an unusual situation.

The living apart bit is fine. I have just been got a new job today as I have previously been self employed, this one is on the books therefore easier to get a mortgage, its £24k year salary, do you think this is enough to support a mortgage say £550 a month plus all the bills.

Many thanks

marksoton

How old are you?

Buying property severely restricts your options should anything change. And in your situation i'd say a lot has potential to change,for you both.

trance14

Hi, Im 23 years old, we've been together 5 years, im ready to sign up for a mortgage but now dont no what to do or were to go!!

Mojisola

trance14 wrote: »

Hi all, my partner has just been accepted into Derby university this year (september).

We both live at home in Doncaster with parents.

I really dont want to move to Derby as my work is in Doncaster but what can I do, she will not be able to support her self at all, is there anything she can do to get help?

Why don't you stay at home with your parents and save as much money as you can?

Your GF should get information about student loans.

She will have plenty of time during the week for uni work and a part-time job and you can spend the weekends together - Derby one w/e; Doncaster the next?

There's no need to make massive changes in your living situation until things have settled down.

kinger101

You'll have to factor in the costs of buying and then selling the property again, and how this works out compared to rent. If you're more likely to stay in Doncaster long term, you might consider buying there, and then she can look for Monday-Friday lodgings or something, or a house share with PhD students/postdocs (at 27, you don't want to be with undergrads).

trance14

kinger101 wrote: »

You'll have to factor in the costs of buying and then selling the property again, and how this works out compared to rent. If you're more likely to stay in Doncaster long term, you might consider buying there, and then she can look for Monday-Friday lodgings or something, or a house share with PhD students/postdocs (at 27, you don't want to be with undergrads).

Would you get help with house sharing money from government or would it have to be from me? im really confused and a tad worried about what is going to happen!