...buying a flat in London if I only stay in the UK for another 3 years? Common sense tells me "no", as I may well get wiped out by an impending crash in prices if and when I sell, plus I'll have to pay stamp duty, agents fees etc and then it will cost about 50% more for a mortgage on a similar flat to the one I'm currently renting. But then again the market might keep on rising and I could end up with a tidy profit, which will buy a lot more in Oz or Canada.
If I keep renting what should I do with the spare cash?
Invest it in the swiftly declining share market? Keep it in cash? Blow it all on fast cars and women?
As a rule do you buy if you move somewhere new, or rent until you've decided to settle there? Any good/bad experiences?
If I keep renting what should I do with the spare cash?
Invest it in the swiftly declining share market? Keep it in cash? Blow it all on fast cars and women?As a rule do you buy if you move somewhere new, or rent until you've decided to settle there? Any good/bad experiences?
Comment