Comments on: Is Debt your Friend or your Enemy?

By: Michael

Michael — Fri, 03 Nov 2017 16:11:26 +0000

In reply to Alchemist. Sounds like a good plan. Renting first is always a good idea in order to "validate" the area.

By: Alchemist

Alchemist — Fri, 03 Nov 2017 13:36:37 +0000

Yes there are some variables and it’s not black and white. We don’t have that extreme ratios of property prices/salaries. But rent is around 700€ a month which is higher than my mortgage would be. I want to move my family first in rented place for 1 month and we will see if we like it there.

By: Michael

Michael — Fri, 03 Nov 2017 07:34:37 +0000

In reply to Alchemist. Hey Alch! I almost bought a house back then, but then we backed out and we didn't buy in the end. I don't have any intentions to buy for the next couple of years, especially now that rents are not going higher. Also, maybe in 5-10 years, I won't be living in London anymore. What about you? To be honest, this is not a black or white decision as it really depends on your circumstances. Yes, housing in London is very expensive, yes, there's instability ahead of Brexit but there are other things that come with owning your roof. These can be the quality of life, status, the freedom to make your own changes, how long you'll stay in the capital etc. Which is why I've written a whole article on the subject.

By: Alchemist

Alchemist — Thu, 02 Nov 2017 22:25:29 +0000

I thought it’s done deal and you bought now I undertand you didn’t?
Do you have some plan for next couple of years regarding your housing?
I want to move closer to capital next year, also move my family so I’m pondering this currently. Buy or rent?
If I buy I will have to reduce my teething portfolio, on the other I cannot imagine renting as I own the property now.