We have to move to a new city (new jobs), commute not possible. Also didn't expect to move this soon and prices in the local market went down, meaning we would likely have negative equity on our current place if we want to sell quickly (it is on the market, no luck thus far).
By the looks of it, we will have to rent out the place we are in now and I am wondering whether we should buy a home in the new city or rent. We can afford to buy a second place, although it would be a bit of a stretch in terms of initial outlays (tax, solicitor fees,...).
Long-term we are looking to buy in the new city. Considering rental deposits (that nobody ever seems to get back...), moving costs, and that the rent in the new city would be more than a mortgage there, I am slightly leaning towards buying.
Just wondering if anybody with a better understanding of the property market could offer an intelligent guess on whether buying before or after Brexit might be better?
We are in Scotland, which has recently seen a rise in prices, except for the area we are in now - although the market is meant to recover slowly. We didn't exactly see ourselves becoming landlords, so the prospect of possibly owning two properties is a little scary 