Personally, I would never rent but that is just me. I refuse to pay somebody elses mortgage off for them, when I could pay off my own & have an asset / equity in the end. I know when we were looking to buy (took us about 18 mths to find something) that we got about 80% of what was on our dream list/wish list. Unless we were to build, we weren't going to get everything we wanted, so your option two is what suits me personally. Gl with your decision
I'm not sure if the situation is the same in the UK but there are costs incurred in Aus for selling (agents fees) and buying (stamp duty). I would factor those into the equation too.
I know what you mean about a booky house. I thought I couldn't live without my books (I've transported some of them halfway around the world) but they are currently sitting in my garage and I haven't missed them one bit.
Thanks ladies. Just FYI, where we are living property prices may not continue ot rise and indeed may fall due to what local and global markets are doing. But it would probably be a short-term fall, so we could weather it out over a few years if we bought. But the property may not go up in value.
Location-wise it is in a nice area, but close to a leisure centre so traffic-wise it may not be great.
Hi im a renter, but would love to own oneday. I would go with the renting until your happy with the house that you want to buy. Its a huge investment and shouldnt be jumped into in my opinion of corse lol. The house inspections are only to check that your not destroying the place untidy is fine. If I was you maybe look at it money wise, if you can rent and do storage and live without dipping into your new funds from selling the house, then i would do it and rent. On the otherhand if you had too dip into the money for buying then why not invest it into buying a house and sell again when you feel its right. Food for thought
OK, thought about this some more and I think I would rent (as long as you're pretty sure you could get somewhere you liked). Buying and selling are a pain. We're in a house that's very nice but is not our dream house either and I'm getting a bit itchy after only having been here just over a year. So now we're in a situation where I'm constantly thinking of ways to 'fix' the house versus buying somewhere else. I guess it depends on how much of a compromise the house(s) you would buy would be. For us, the move has been worthwhile - big house, lots of land versus the compromise of the house not having great views of the garden because it's basically orientated all wrong on the block.
I think I just contradicted myself
If in doubt, just go with your heart. There's no right or wrong answer. If you see a rental you really like, do that. If you see a house for sale that you really like, buy it and figure the rest out later
Can you not take your books with you in a rental? We rent and the bookshelves are overloaded with books.
I'd draw up a list of pros and cons including costs. There are costs to both options. I think moving is a PITA but sometimes you have to take the short-term step before finding your dream home. Stamp duty is a loathesome waste of money though I realise the rules are different in the UK.
I certainly wouldnt make the decision based on the gamble that property prices will rise or fall.
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