Would you buy this house in my position?

tom9980

MaiseMeal wrote: »

I will be looking at some 3 bed detached for about 250k. At leAst a separate diner and garden for some space

Sounds the best idea to me, nothing too flash but with plenty of space, just make double sure the broadband/internet is good. Someone i currently watch had to pay a lot of money for a dedicated business line because he forgot to check that before falling in love with a property.

Lots of streamers move to LTD companies at your earning levels, but i wouldn't advise paying yourself the bare minimum, instead just below the 40% tax bracket + dividends and make sure your company sticks in the max pension allowable. This means anytime you do need to borrow you can get a decent size mortgage at a good rate. I would check out who other streamers are using as accountants.

DCFC79

Id say buy a property over renting purely so you know for sure your property is yours and it wont get put up for sale by the landlord if for example you were renting.

Splatfoot

Definitely buy. You just don't need anything huge. Garden yes. Why not buy if you can afford it? Renting is just paying someone elses mortgage. If life changes, sell it.

[Deleted User]

Stoke is not a great area of Coventry. Look at Allesley, Finham, Stivichal as they are the better areas. I believe some areas of Binley are nice too.

I'm a village girl myself so if I were you i'd be looking at the villages on the outskirts. Ryton on Dunsmore, Wolston, Meriden.

A bit further south is Kenilworth, Leamington and Warwick which although nicer is more expensive.

Yalpsmol

I would buy purely because you have a dog. Moving in rentals with a dog is a nightmare and can end up costly anyway (landlords more likely to need to keep some deposit to spruce up a house for new tennnants when a dog has been about).

Good luck.

Cakeguts

Yalpsmol wrote: »

I would buy purely because you have a dog. Moving in rentals with a dog is a nightmare and can end up costly anyway (landlords more likely to need to keep some deposit to spruce up a house for new tennnants when a dog has been about).

Good luck.

No they don't. It depends on the tenant and the dog.

smdabs

I was in the same situation as you OP (albeit on a slightly lower income). I decided to bite the bullet at 23 and buy a house on the basis it was going to be another retirement income as and when that time comes around.
Due to my income being slightly 'precarious', I bought a house based on a 'worst case' scenario... in that I calculated the income I could get in a type of job I could get easily should there ever come a time I lost my business.... and if I couldn't even get my worst case scenario job, I can always sell it and re-coop some funds.


The property I bought was purchased at 150k, I have been travelling and moved back and forth with work and I have never had an issue with renting it out while I was away (I also aimed for a central location so it was more desirable for renters).




Within 3 years, the house is now worth 180k (albeit I did put some money in to doing it up), but I am walking away with a fair amount of equity which I have then used to put into my new, bigger and more expensive house. However, despite my 'precarious' income, the new house is not much higher in risk at all because I got myself on the ladder in the first place.


Of course this isn't how it always works and maybe I have indeed been lucky, but to say that buying a house will 'tie you down' is, IMO, a bit silly. I can honestly say that getting myself a dog has tied me down more than my house ever has!