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Divorce, £200k, rent or buy?????
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jules9
Posts: 84 Forumite
In early 2008 i will be divorced and have about £200k.
I am wondering what is best with the current housing situation. Would i be better off renting for 6-12 months and then looking to buy when property may be cheaper - or is this a false economy?
If i rent i plan to put the cash into high interest internet savings.
If i buy i am looking to buy for around £170-£200k.
I really am not sure what is best financially and would appreciate some advice.
I guess what i am saying is, will the savings on future property purchase outweigh the rent i pay for the 6-12 months?.
Renting will cost around £700 per month.
I am wondering what is best with the current housing situation. Would i be better off renting for 6-12 months and then looking to buy when property may be cheaper - or is this a false economy?
If i rent i plan to put the cash into high interest internet savings.
If i buy i am looking to buy for around £170-£200k.
I really am not sure what is best financially and would appreciate some advice.
I guess what i am saying is, will the savings on future property purchase outweigh the rent i pay for the 6-12 months?.
Renting will cost around £700 per month.
0
Comments
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How long is a piece of string?Gone ... or have I?0
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what area of the country are you in ?
what type of property are you looking at ?
etcIt's a health benefit ...0 -
I guess what i am saying is, will the savings on future property purchase outweigh the rent i pay for the 6-12 months?.
Renting will cost around £700 per month.
The interest you would get in a decent savings account would be c £1,160 a month before tax, or about £875 a month after tax if you are a basic rate taxpayer,something to bear in mind as well as capital values....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I personally would buy something I wanted to stay in for a long time. No mortgage and being happy where you live means you shouldn't care whether house prices drop or rise. It should be a home as well as a house." The greatest wealth is to live content with little."
Plato0 -
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