Whether to Buy/Rent Advice Please

dohaexpat

Hello,

I’ve just returned to the UK from the Middle East for 8 years. I will start working in London but currently based in Manchester with family for the short-term (need to be in London 2-3 days/week). To reduce the commute the plan is probably to be based closer along the train line (Crewe, Stafford) either renting or buying. Until my wife completes her visa sponsorship there will be only 1 income (£50k+) but I have savings £100k+.
My question(s) are really what are the recommended options? The long-term goal would be to buy but it seems wise to rent initially than jump into buying? What about shared ownership? Would this be a risk? Or could it be a viable option rather than renting?

Any advice is appreciated.

poseidon1

Rent.

You and your wife have no idea where you want to settle permanently so soon after your long stint abroad.

Also avoid share ownership in future if you can ( searching this forum for posts on the subject will tell you why).

In the meantime maximise return on your cash, using ISAs as a tax shelter ( sounds like you will be hitting 40% tax sooner rather than later).

SarahB16

Definitely rent first.

If you are looking for somewhere cheap to live and near to the Avanti West Coast train line (between Manchester Piccadilly and London Euston) then you may wish to consider Stoke-on-Trent.

I imagine you would get a lot more for your money renting there than most other places in the country and you can get the direct train to London from Stoke-on-Trent.

I very much doubt you will wish to live in Stoke-on-Trent long term but it will give you a cheap base and you can explore other areas (around the country) before deciding where you wish to live long term or to buy.

The cheap rent should hopefully mean you are not using too much of your savings (if anything) and can use that towards a house deposit when you know where you actually wish to live.

dohaexpat

@SarahB16 thank you. I was told to stay away from Stoke! But can check. Yes, we are looking at Crewe, Stafford and the South West (London). Crewe and Stafford for the 2+ hour commute but with train fees (even with UniDays discount) and some accommodation stay overs it could still be £600-800/month on top of the rent which adds up to the same amount as rent in the South West and not pay as much for commute (~1 hr tube train). This would also allow me to be home daily with family so they are not alone. Yet, we would not buy in London, we would maybe buy close to Crewe or Stafford. But gives a similar situation that we will not know the area we will be buying in and still have to make frequent travel to research the area.

Thoughts?

SarahB16

Firstly regarding Stoke I understand why you were told to stay away from Stoke. I don't disagree but it's cheap (for a reason) and convenient for you and is on the direct train line between Manchester and London. I would see that as something very temporary for you to reduce your commuting time and keep your rental cost low.

It appears that you have a job in London already lined up but personally if I were you I'd look for a job in a different city, e.g. Manchester, Leeds or even Liverpool. My first choice for you would be Manchester (or anywhere within Greater Manchester or near to Manchester). Manchester is booming economically at the moment and there are lots of job opportunities. Transport within Greater Manchester is also excellent too so you can choose where you wish to live based on where you can afford. There continues to be some very affordable areas to live in and yet you can still work in Manchester city centre (without a long commute). There are of course expensive areas to live in too.

London is extremely expensive to live in (or near to) and then you have the long commuting on top. Instead you could live in another city and buy a house, have a shorter commute and a much higher quality of life.

My suggestion would be as soon as you possibly can look for a job outside of London and ideally away from the south east as then you should be able to afford to buy a house. My first choice would be Manchester due to all the various work opportunities, leisure activities and overall quality of life.

Edited to add: Definitely Manchester as it means your wife can stay in the area she knows and you also have your family nearby. In time you get a permanent job in Manchester or the wider Greater Manchester area too. Temporarily you perhaps lodge or AirBnB (a couple of night a week somewhere near to Stoke) so you can do your couple of days or so per week in London. You will also have your Manchester address that will help you to get a job in/near to Manchester too.

dohaexpat

@SarahB16 yes, thank you for your good points. I’m from Manchester and I do agree a job closer to here would be better but this job is a good job, just the location and/or commute! I knew this once I accepted the job, but our time was done in the Middle East and needed a new chapter both professionally and personally. Now I’m back in the UK it could be that I do this job for 2-3 years and apply for any roles that which come up in the north west. I haven’t done any approximate maths but to live in Crewe/Stoke/Stafford and commute/hotel versus living within London it would probably be a difference of a few thousand £ but I probably would favour being in London as I will be home more and support my wife who will be alone. It’s not the best situation I know but I know our quality of life and happiness would be greater here (even now, relocating) albeit maybe breaking even for a year or so compared to being comfortable financially in the Middle East.

saajan_12

If you're still exploring such broad areas, I would rent first, get a feel for the commute and have the flexibility to move if you hate it. Once you own a property, its much more expensive to move, so any saving from paying a mortgage instead of rent is wiped out by solicitors, surveys, agents, stamp duty, etc. Same for shared ownership, it can help as a middle ground for affordability, but for flexibility its worse than owning outright.

Re areas, I would be cautious trying to live halfway between two places you might frequent. It'll mean its a long commute for you and its a long way from family and community in Manchester for any regular support. IMO once you're 2 hours away, it becomes several weeks or a month between visits, at which point you may as well be 4 hours.

I would be looking for a shorter commute to London or a new job closer to wherever you live.

dohaexpat

@saajan_12 thanks for your input. Yes, having started the job and not having to be on site too much we have been renting airbnb close to work. Comes at an expense but has allowed us to get a feel for the area and potential commutes. I tried the Manchester-London commute albeit leave Sunday, few days hotel then back Thursday but we want to be closer to work but this = more £££ on rent etc… hopefully short term of stay and buy or return back up to the north west in a few years.

SiliconChip

Rent is the obvious answer., but the fact that you've been out of the country for 8 years is going to make it more difficult for you to secure a property as you won't be able to give a previous landlord as a reference (I'd be quite surprised if one from abroad would be acceptable) and you have no recent previous UK address and possibly little or no UK credit record. You may have to offer to pay 6-12 months rent up front, although the Renters Rights Act will prohibit this from 1st May 2026 this so you might need to get in quick!

Albermarle

A £50K salary is good, but probably not good enough to justify long commutes and living a kind of nomad life.

OK for now, but I think you either have to aim in future for a significantly better paid job in London to justify all the attendant hassle factors with travelling, Or as already suggested get a job in Manchester or Leeds or somewhere like that.

Jemma01

I don't think commuting to work cross country is ever an efficient way to do this. I live near London, it costs 72 pounds to travel there for the day. Train prices are crazy and no one seems to do anything about it. Out of curiosity I looked at the prices from stoke-on-trent to london to arrive before 9 and it says £153.80. I don't know how often OP needs to be in the office, but that's an outrageous price for one journey. Also not sure how much rent op is looking at, making any advice on location not very productive.

To answer the actual question, rent is the obvious answer. It took me 6 years of renting within the city to decide where I wanted to buy my home.