cash - to buy house now or not?

(5 Posts)
user1467297746 Thu 30-Jun-16 15:57:55

I know we are lucky - we have just returned to the UK and have enough from the sale of house abroad to buy cash now..

TBH we never considered the Brexit thing a likely hood - we had put an offer in on a house - and done surveys - waiting on the search results

We're Staying at my mums - which with 2.5 year old twins can have its upsa dn downs- but we cant stay here for ever ! Missing our own space - and how she moves things around all the time!!

Seems a lot of uncertainty at the minute.

Should we jump in or rent out somewhere for a year?

We're paying 173 k for the house - it needs a bit of decorating so we negotiated well - I think its worth maybe 185 /190 if done well..

I guess rent for a year in a similiar house would be around 600- 800 a month..

Anyone have any thoughts? We were planning to get a BTL as well..

I know this is a 1st world problem - but we've ben away for 20 odd years in Asia. so we are a bit lost - and the country we've come back to is changing just as we are getting used to it!!!

Akire Thu 30-Jun-16 16:03:34

Personally I would buy, you have the money you need a home you are not stretching yourself.

Even if the market crashed and let's say your house "lost" 40k over night. You wait 4years for market to recover in the mean time you spend nearly 40k on rent so are worse off.

DollyBarton Thu 30-Jun-16 16:08:14

Brexit or no brexit you still need a home! Nothing has changed about your circumstances unless there is now a high possibility you will leave the UK in the short term? If you were buying an investment and already had your own home the conversation might be different but even if your house loses value it's still your home and probably cheaper and more stable than renting.

user1467297746 Thu 30-Jun-16 16:14:11

interesting you mention short term - we're not sure at this minute - since we only came back 2 or 3 months ago.

we were thinking about spending all the proceeds on a really nice house - but decided to go for a semidetached and have enough cash to buy a 2nd place to rent out

We are both freelance so it would be nice to have a bit of stability and mean we can scale back on work a little to spend more time with the kids.

specialsubject Sat 02-Jul-16 21:22:16

Inflation in the UK is already higher than the stats, and as savers have been dirt for years you can't get enough interest on it.

Buy somewhere to live.

You'd have found the country considerably changed anyway!

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