Currently renting, landlord is selling the place (don't blame him tbh with the current market) so we have to move out by the end of the year (me, wife, 3yo). We are in discussions with him re buying the place but realistically its too small for us already and there might be a second child on the way. House prices in this area start at around £500k for smth reasonable, or at least larger than the place we are in. Got £50k for a deposit, more cash in the company account but I'll get stung for 40% tax if we go above that, max loan we can get is £500k (spoke to a contractor mortgage advisor) which actually makes sense as the deposit is 10% then.
Plan is to probably stay in the UK for max 2yrs then move out, but its a really tulip time to buy now imho (expensive as hell). Could carry on renting but its money down the drain, although is uber flexible indeed.
So, the question is, which is better in your opinion? Rent for 6 months if smth reasonable comes up, then see what the market is like, or buy and then sell after 2yrs?
Plan is to probably stay in the UK for max 2yrs then move out, but its a really tulip time to buy now imho (expensive as hell). Could carry on renting but its money down the drain, although is uber flexible indeed.
So, the question is, which is better in your opinion? Rent for 6 months if smth reasonable comes up, then see what the market is like, or buy and then sell after 2yrs?
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