Had an agent in to evaluate the place, it's going to be roughly £435-445k, with a 10% deposit its a £1750 monthly payment, so very close to some rentals in the area (I said £1500 before, but it seems higher). Landlord might go higher / lower although I can't see why he would go lower unless he needs to sell it quickly.
Main problem is space as I said, it's around 62sqm, two bed, but it's already packed to the brim. It's a bungalow so should sell fairly OK considering location and I can do loads of DIY stuff to add some value to it.
London exodus is fueling the price rise in this area (Surrey, close to M25) and even the agent said don't buy if you don't have to. Then again with rent almost equal to mortgage repayments...
Also stamp duty for us as first time buyers on £440k would be £7k.
Main problem is space as I said, it's around 62sqm, two bed, but it's already packed to the brim. It's a bungalow so should sell fairly OK considering location and I can do loads of DIY stuff to add some value to it.
London exodus is fueling the price rise in this area (Surrey, close to M25) and even the agent said don't buy if you don't have to. Then again with rent almost equal to mortgage repayments...
Also stamp duty for us as first time buyers on £440k would be £7k.
Comment