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Feeling broody to buy first home

2 replies

RedCabbageGreenCabbage · 26/12/2022 11:54

Does anyone have any tips on stopping the feeling of wanting to buy a place?

I rent a flat with my partner, which is lovely. But I can’t get over the feeling of wanting to buy somewhere. Economically it would not make sense as a mortgage would be much more than the rent. Plus, I haven’t been with my partner long enough to buy (unmarried). And what if I decide to move abroad?

OP posts:
DevonshireDumpling1 · 26/12/2022 13:57

I think it depends on what mortgage product you have and how much deposit you can put down on the property. I know people who have rented previously and gone onto buy and their mortgage is cheaper than what they paid in rent.
You could always buy and if you decide to move abroad then you can just rent it out and have an income that way…. And then if you decide to come back, you have a property - just need to serve the tenants with a section 21.

PrinnyPree · 26/12/2022 20:02

For all the reasons you've just stated I really wouldn't right now, the market is about to head South so you could get yourself into negative equity, and selling a property you don't want is a massive expensive pain in the arse. Honestly it sounds like you like where you live too and have so much more freedom if circumstances change.

Don't tie yourself down, property ownership can be stability but it can also be an anchor and be very limiting, I could understand wanting to jump on the housing ladder if prices were going up but IMO in your circumstances in a crashing market it'd be mad. X

Maybe give it a year?

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