Soldato
Ok, so me and my girlfriend are weighing up our options in terms of getting on the property ladder and we've been looking into the pros and cons of buying a city centre flat.
Now, I know with a city centre flat that you're only going to get a leasehold property instead of freehold and that there isn't a massive market for buying apartments if we look to sell it on but is it really such a bad idea?
The plan would be to live in the apartment for a few years whilst we are young and both working/studying in the city centre and then either selling it on to buy a house or renting it out whilst moving into a family home. Just looking at rental prices for a similar place, in the current market our mortgage would cost ~£150 less than it would cost to rent even budgeting for a rise in interest rates of ~3% so it doesn't look like we'd end up losing out.
Your thoughts please.
Now, I know with a city centre flat that you're only going to get a leasehold property instead of freehold and that there isn't a massive market for buying apartments if we look to sell it on but is it really such a bad idea?
The plan would be to live in the apartment for a few years whilst we are young and both working/studying in the city centre and then either selling it on to buy a house or renting it out whilst moving into a family home. Just looking at rental prices for a similar place, in the current market our mortgage would cost ~£150 less than it would cost to rent even budgeting for a rise in interest rates of ~3% so it doesn't look like we'd end up losing out.
Your thoughts please.