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Right now, in London and if you have a 15% deposit, its cheaper to buy a place than to rent from month to month so I guess it depends where you live. I always t
by davidhyde 10y ago
Right now, in London and if you have a 15% deposit, its cheaper to buy a place than to rent from month to month so I guess it depends where you live. I always thought it was better to keep my savings liquid for startup capital but I found myself going back to work because I did not like spending it on rent. I figured that I would continue my project at a slower pace in the evenings and weekends and cover my expenses in the meantime. This is not a good recipe for swiftly setting up a startup.
- ptero 10y agoGood to know. One difference may be buying a flat in a multi-family building, so the costs of major repairs (roofs and such) is shared and can be handled by a management company for a fixed monthly cost / subcontracted / insured against. That (I think) makes total cost easily predictable. My observations are from US where more than one family I know bought a house (old house, expensive because of the good school district, which is why they bought it), assumed low maintenance costs, then got hit with some sizeable repairs (as the house is old). Not trying to generalize, that's just what I saw.