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Tips on first time house buying 🤔 watch

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    (Original post by ByEeek)
    Maybe - shock horror, the OP wants to buy a house to live in. You know, like they did in the olden days. Why on earth housing is seen as just an investment is beyond me. If you live there there is no issue around falling prices.

    To the OP - As a singleton, buying a house is really hard. However as a couple, or with two incomes it is a doddle. You might not be able to live in the nicest areas but if you are smart you can make your money go a long way.

    Me - I rented through my rebellious twenties and waited until I settled down with my now wife before buying our first house. Our mortgage was 6% on a £128k mortgage which came in at £800 a month. We lost a tonne of money on the financial crash, but because we had overpaid the mortgage still managed to get a decent deposit together to buy our forever home with a mortgage of £192k which at 3% costs us £700 a month! The future is bright if you use your loaf.

    Good luck!
    Thank you. I hope to live in the house and resell it at a higher value couple years later and settle down in a bigger house.
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    (Original post by Jahir)
    Thank you. I hope to live in the house and resell it at a higher value couple years later and settle down in a bigger house.
    Everyone hopes for that. The trouble with appreciating property is that it is all going up in value and in monetary terms, the house you want to buy is rising faster than the one you are about to sell. Hope for a flat market and pin your hopes of moving up by paying down the mortgage on your current house.
 
 
 
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