Property News · August 7, 2017

Is it a bad idea to buy a property in London if it's not home for life?


I would prefer buying to renting but fear a 2007-like crash may wipe out value and make it tough to resell Q I’m 26, living in London, and on civil service salary of £34,500, and after I’ve completed my graduate scheme, I should be on £50,000-plus in a couple of years. I’m fortunate to have £110,000 in cash – from savings and inheritance – to put towards the purchase of a property. I am young and single and like living in London, it suits my lifestyle now, but not if I decided to start a family and settle down. I was considering buying a flat in London, with the idea that it would be my first home, and I would sell it off by the time I was 32. I’d like to have a place to call my own, and I am currently paying £800 a month in rent, which I could pay towards a mortgage. Continue reading…

Source : theguardian.com
Read more…Is it a bad idea to buy a property in London if it’s not home for life?

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