We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buy to let or Buy and Rent : Which is better?
siliconbits
Posts: 389 Forumite
There's a bet going on between me and a friend - and it's worth £100. If you had 15,000 cash and were to buy a property.
Which one would be better?
From being a tenant,
(a) buying a house and live in it?
(b) buying a house and renting it out (essentially maintenance free), while continuing to rent somewhere else. Then save again and buy another house... Continue until you get a nice portfolio and then finally move to your house.
Which one would be better?
From being a tenant,
(a) buying a house and live in it?
(b) buying a house and renting it out (essentially maintenance free), while continuing to rent somewhere else. Then save again and buy another house... Continue until you get a nice portfolio and then finally move to your house.
:rolleyes: Links are a man's best friends.com
0
Comments
-
Financially better?
Depends if you make a profit on your BTL. If you do, then it is worth considering, otherwise buy your own place and live in it.
Also there is nothing stopping you buying a place to live in, and saving up to buy a BTL property as well.If you are at a poker game and you cannot figure out who is the patsy then guess what...you're the patsy - Warren Buffet0 -
All depends on how much money you want to lose.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
-
Both sound like ways to lose money, but b) will lose you a heck of a lot more.poppy100
-
From what you are saying guys, there's no way that, provided you inject, say 10% of the house's price as a deposit, that a property can self sustain itself financially?:rolleyes: Links are a man's best friends.com0
-
In most areas, no. In today's climate the rent you get wouldn't cover the monthly repayments on a 90% mortgage.poppy100
-
and that's a 90% interst only mortgageBankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards