Essentially I have a London flat with £100k equity, I have the option of trying to upsize and buy a house for around £450k or stay in 1st property which is worth around £300k and only a 2 bedroom flat or to buy a 2nd home via my company outside London for around £190k as a future investment which could be a house and offer more long term space for my family
oldest daughter about to start GCSE’s so didn’t want to move right now due to the disruption
I am leaning more towards having 2 cheaper properties than one more expensive, however my current property is a 2 bed flat and want to buy a 3 bed house either way.
My ideal future would be to move to the property outside London and be as near mortgage free as possible, whilst potentially renting out the London flat to generate income in the future
I have 2 teen daughters who share a large room but hope that in the future they may take over the London flat whilst at uni/ first jobs, OR we all stay together in the outside London house and rent out the London flat via a letting agency
what makes the most financial sense for the future? My DH thinks trying to get a more expensive property in London is the best plan, but the areas we really like are out of our price range
we could get a house in current area where the flat is, however this is not my ideal location
I have some family in the outside London area, so what would you do?