Is my partner crazy...or am I?

LowKeyIceTea

Story behind thread:
I work in a reasonable job, long hours, stressful at times but the conditions of pay aren't bad.
Over the past year i've been dating a girl and we have been living together for most of that year. Currently we both get flats as part of our job salary package (No bills - just a flat rate of £120/month all inclusive). Currently I get around £31000 + Flat + other benefits. If I decide I don't need the flat anymore i get an additional £4000 onto my salary.
Recently my partner has been suggesting we buy a house together. Obviously having more room than a flat would be great but i've been telling her that the package we've got is worth sticking to, despite the pay rise.

Is it worth sticking to what we've got OR would the benefits of a pay rise and jumping onto the property ladder outweigh the risks?

I'm of the opinion that we should stay where we are, am I just playing it too safe?

Other points:

• Rough annual pay rise is around £3-4k
• House prices around where I am (Yorkshire) are very reasonable
• I've never had a property prior

Mossfarr

It sounds to me you are not ready to fully commit to buying a house together. Why don't you give up one of the flats and take the opportunity to save save save so you have a decent deposit when you feel more ready.

need_an_answer

Can you take the £4000 pay rise and move in with GF?
How do you feel about that prospect?
Have you both been paying the £120 each to retain your "own" places?
Why?

It's a compromise to see if the living in one place suits you both with the bonus that you could be saving £4000 towards a long term purchase if it all works out well.

robatwork

That's a fantastic perk worth thousands - more than 4!

Live together in one of the flats for a year. If you don't kill each other then consider buying a house.

ACG

I can see both sides.
Being in that flat is costing you £4k + £1440 pa (before tax and BIK are taken into account) - so £450 a month.

I have no idea what the rent is like where you live, but it does look like a pretty decent deal.

That being said, if you had a Mortgage, you would be paying down the Mortgage each month and in time own the place outright. Plus if prices go up, you will be benefiting from that also.

Personally, I would buy (put my job to one side as I am looking at this as an individual not a broker), but I can see your view on it.

Pixie5740

When you say you've been living together for most of that year have you really been running a single household together or just staying round at each others a lot? I wouldn't jump into a mortgage with someone I hadn't properly lived with first.

LowKeyIceTea

I forgot to mention - she has two cats at her own place. I'm an absolute clean freak and don't really want any pets at mine - that's why she hasn't given up her flat!

need_an_answer

So where are the cats going if you were to buy jointly?
Are they the issue of why you don't want to progress this further.

letitbe90

You know her for around a year - sounds a bit crazy to buy a place (jointly at that) imo. Not to be cynical but, you need to consider all posibilities.

westernpromise

need_an_answer wrote: »

So where are the cats going if you were to buy jointly?
Are they the issue of why you don't want to progress this further.

The perfect compromise is to have the cats stuffed.

LowKeyIceTea

Genuinely no idea what to do about the cats. Maybe one of those outside cat home things?