Flat vs house – settle a debate between DH and me

[butterbeanplant]

Hi all,

I would really appreciate your advice as we’re kinda stuck!

So DH and I are wanting to buy a place in south London. We’re looking for a 2bed, 2bath place. Budget of £500k (so we stay under FTB stamp duty rate). We don’t have kids yet and don’t expect them for a few years (fingers crossed!!)

Problem is we have wildly different views on what to buy…

Really don’t buy a flat for the short term in central London ..... unless you negotiate an absolute steal...there will continue to be so many BTL LLs off-loading flats because of changes in tax brought in over the last few years. It could be hard to shift. Also many have service charges of £6K a year - what a waste of money.

I would enjoy renting where you are for now - and consider where you would want to raise children and keep an eye on something there which as PP has said you could buy now and rent out until you needed it.

I’m in a two bed in zone 2, but it’s a house with garden, and there are five of us - me, DH and three children, now older teens. The teens have always shared. It’s been fine.