Quizzes & Puzzles18 mins ago
To Buy or not To Buy
The owner of our house might want to return at any time, so we have no long term tenancy guarantee.
Should we continue to rent - or should we buy ?
Rent = �650pm. To Buy = �320k
Answers
No best answer has yet been selected by davidsheena. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Given the choice my option would always be to buy, especially if you plan to live there for a while as invariably over a period of time house prices do increase (my parents brought their house for �1500 in 1955 and its now worth 1/2million!) and you will always get something back for your money. Whereas with renting you never get a return on your investment.
I suppose its a British thing though 'cos if you go to Germany, everybody, except the landlords, rent
Money wise (repayment) I don't know as not sure how much you earn and deposits etc so I couldn't say (that's somethign for you guys) but I would always buy. I have always been of the opinion that renting is paying another persons mortgage. The good thing about buying when you're renting is you're not in a chain so you're in a better position to negotiate. However, I would personally do what is best for you. Don't buy anything unless you're 110% sure. If it is right then you will know it in your hearts!!