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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Really not sure about buying a property

26 replies

Thedivinyls · 11/08/2022 08:15

My partner and I live in the city centre of Manchester (well 5 minutes' walk from it). We have a nice apartment, it's small but otherwise we're very happy with it.
We rent it, and every single utility bill is included, also internet, TV licence etc. We only pay council tax on top, so our total monthly spend including bills is about £450 each.
We would like to purchase a property eventually when we've saved enough, but with the costs rising so much, I wonder if we'd end up paying a lot higher even with a mortgage, because of skyrocketing electricity and gas bills.
We'd also have to move much further out too so would end up paying commuting costs.
Really not sure what to do, however it seems that in the UK you're screwed if you don't buy as you'll have to work into retirement and struggle and so on. (This seems to be the idea that's given on here a lot)

OP posts:
Bringon2023 · 11/08/2022 11:14

I would stay where you are for now because it sounds like you have a good deal with bills included. But I would be saving every last penny I had for a deposit so when you do decide to buy you have the best chance. You might not think you want to buy but in 5 years time a lot can change (I used to rent a city centre apartment a few years ago which I loved and now I'm married and pregnant living in the suburbs!) If you don't end up buying the savings will still be useful for wherever you rent next because it is likely to be a big increase on where you are now and rental competition is crazy.

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