Buy now solo, or wait 1 year to buy with BF

[tobuyornottoobuy]

I am in a very delicate situation and would love any advice.

I own a flat in an expensive part of the UK. I was intending on moving up the ladder to a larger more expensive property, which would be a small 3 bedroom house in a very good area. The move would take place in about 2 months.

I have a DP, who is currently in a rental. Due to my age, I am hoping to start TTC at the end of the year. I have known DP for years, but we have only recently began dating again (1 year).

My dilemma is I don't know whether to hold off on moving now, and wait for TTC and buy something together (when I may be likely a few months pregnant). Or, buy soon as intended, and then at a later stage buy with him (would be 2 years due to mortgage fix).

The benefit of buying with him is that we would have double the budget and could probably get a home we could stay in for many many years.

The benefit of buying alone now, is that I can build my own personal wealth for a bit longer, and will be able to contribute to a future joint purchase and also keep some money back for me (personal savings).

If you can afford to, buy alone, no question. If Covid has taught us anything it is seize the moment, literally anything could happen in the next year.
Also, the way house prices are rising you are likely to make money on the house you do buy, which can be used towards your forever home in the future.

I would buy solo. You don’t know what will happen to your relationship and how long it will take to ttc. Another factor is what will the housing market be like in a few years time? If you have a 3-bed house, you won’t outgrow that quickly so no urgent need to move up the ladder if there isn’t anything suitable around.

Re 2 year fix you can always port it to the new property. We were in the middle of a 5 year fix and managed to port it with no penalties

I would buy the 3 bed now but fix for 5 years. The purchasing costs are going to be very costly for you if you are looking to move in 2 years time. You’re likely to be on maternity leave or have a small child when the 2 year fix is up, if everything goes according to your plan, and so then could be on one wage or paying an expensive nursery bill, which could make it difficult to remortgage. If you’ve a 3 bed house you’re unlikely to have outgrown that within 2 years, and could then move on once your child(ren) are past the babu stage.

buy solo

Buy solo

Buy solo. Especially if you are ttc its better to be settled in a nice property. DP and I lived in my flat while we saved for something bigger, and it meant he was able to contribute a bigger chunk to the deposit when we bought our house. You can always move in a few years once your DC are bigger and it gives you a bit more security.

Buy solo definitely

Buy solo and fox for 5 years.
Your partner could always move in and instead of rent he could put money in a savings pot which could be used towards your onward purchase.

Buy now. You might not even be with your partner next year. (And if you are then you can talk together then about future plans).

I was at the point of buy now or move in with bf. I moved in with bf (He had recently bought a place so not realistic us moving)....within 2 years I had moved out and the houses I wanted had gone up an insane amount - like 30-40k.... I did buy and all is good now but with a massive mortgage. But looking back I should have got my own place when I could.

Don't miss out on moving up the ladder for a man. The opportunity might not be there later on.

Thanks, this is really good advice. I also work in a very unstable job, so even if we do eventually buy together, would be nice to have the security of my own asset.

buy solo....keep your own financial independence always. don't get yourself ever in a position where you are "stuck"