me and my partner have recently found a house that we like, and matches the majority of our criteria. it is 拢140,000 and we have 拢16,000 to put down as a deposit (we are first time buyers).
We are coming up to renewing our rent on where we live now and don't know wether to keep saving for a bigger deposit (hence a smaller apr% and mortgage in the long run) and wait another year to get a house, or to buy the house now?
We feel like the rent is wasted as 6,000 goes on that a year, would it be better to buy a house sooner rather than waste our money on rent another year?
all opinions welcome, just please no nasty ones :S
many thanks|||We are in the same boat. We didn't renew are lease and are doing month to month. We started looking for a house about a week or 2 ago and found one we liked. We are in the final stages. We got loan that didn't require any money down. You'll still need money for closing, inspection, first years insurance. The interest rates aren't going to get any better. Now is the time to buy! I think you should go with it. I'm glad we did. Good Luck!|||In my opinion, I would buy the house because it's just like you said the money is gonna be wasted on the rent. And yeah you can save up and get a smaller mortgage for it but you're still gonna have to pay it even if you did buy the house. But don' forget that you also have to pay for the utilities and the mortgage. Good luck and also do research online.|||Just Do It!!!! Buy It....It will be YOUR HOME :)
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