Which option would you go for?
Me and my partner are saving up to buy a house.
I'm 25 years old and have a 5 month old.
We currently live in my parent’s house and are more than half way from saving up the deposit to buy a decent house.
So the options are either:
- Buying a house which costs considerably less and less mortgage payments a month and can move out faster (within 5 months)
But the disadvantage is that it's not our dream location in terms of community and schools, so will probably move out in the future to a second home.
- Or should we wait and save more money and buy the dream home instead meaning we stay in my parent's house longer (8-12 months realistically)
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Oh I clicked too soon, if its still only a year save for the year. I was just thinking financially cheaper house cheaper mortgage 🙈 but if you can still comfortably afford the dream house after saving for the year then id go for that x
To add; we don’t pay any rent to my parents etc which allows us to save more
Have you asked your parents what they think? The second option is the most practical and isn’t that long either but it depends on how the living situation is. My mum would drive me insane!
If waiting a few more months would get you your dream home do it. I lived with my parents for 2 years to save for our home. Its not our dream home. I'll never be able to buy my dream home. But it has been a well located home
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