I have recently slipt with my fiance and we own a flat together. Because we moved with work this flat is currently being let out. If we sell it we will be lucky to break even, should I buy him out of his share as I intend to live in this area? I am living with my parents at the moment and could continue to rent it out for the time being untill I get some money together and I am afraid I will not be able to buy somewhere on my own in future and will have to rent if I move out (which I would like to do!) but this would be a waste of money. The other thing is I would like to travel - would owning this place prevent that? I suppose I could keep it rented. Help!!! I am only 26, so I could buy later but I need some impartial advice.... should I cut lose or keep the investment?
2006-12-19 07:06:17 · 10 answers · asked by Becky 1 in Business & Finance ➔ Renting & Real Estate
Life is for living! you have only got one, so follow your dreams. All the best :)
2006-12-19 07:11:18 · answer #1 · answered by Dj' s 5 · 0⤊ 0⤋
My friend is an estate agent (who is here right now!) says the market in many places has bottomed out so it's a very good time to buy if not even a little late in some areas. Prices are on the way up and very few people lose on property.
He says buy it now at the best price, get it surveyed on the quiet first then use the info to bargain with if there is any problems. (and there surely will be)
2006-12-19 07:15:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would buy him out and keep it. Just make sure the rent covers your mortgage plus a little more for unexpected repairs.
2006-12-19 07:12:45 · answer #3 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
keep it & rent it out if you dont need the money now sit back &watch it grow. in a few years time you will be glad you kept it.
2006-12-19 07:10:31 · answer #4 · answered by mr b 2 · 0⤊ 0⤋
buy it if you can and keep it as bricks and mortar is always a good investment. when you fully own you can always plan your trips in advance and let it short-term. that way its making money for you while you are not there!
2006-12-19 07:17:21 · answer #5 · answered by jmcgrath4370 2 · 0⤊ 0⤋
Me and my ex recently split, she wanted to buy a house with the same "if we split up we can sell it and take half each" attitude, I told her to shove it for the same reason you're having a problem with now. Sucks to be you huh? hope he's laughing his *** off.
2006-12-19 07:12:18 · answer #6 · answered by clusp 3 · 0⤊ 1⤋
Keep it, its so hard to get back on the property ladder these days
2006-12-19 07:09:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋
if you own it outright i would rent it ut as you can get a tidy income from that
2006-12-19 07:07:40 · answer #8 · answered by ZappBranagan 3 · 0⤊ 0⤋
u should keep it because it is the new fashion
2006-12-19 07:14:26 · answer #9 · answered by Rayla 2 · 0⤊ 0⤋
if its in city of london keep that sheeet!
2006-12-20 01:13:09 · answer #10 · answered by Mr Trend Vampire 2 · 0⤊ 0⤋