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House buying solo

House buying solo

Mercurius Mesmerize Created Apr 23, 2025 20:08
10 Comments

Would you rather -

Buy a cheap house straight up without a mortgage, but it isn't the best, needs work, not in the best location, rooms on the small side, etc what ever you can think of.

Buy a house which is potentially better but with a small mortgage because you're going to need to borrow some, it's a better house but still not the best in whatever ways you could imagine.

Buy a house which is more like what you want but it means a bigger mortgage. As such the bigger the mortgage the more you pay out and the less cash you have each month.

 

This topic has 10 comments

Jay Jay

Apr 23, 2025 20:54

Look at this guy, buying a house in this economy.

Thrones

Apr 23, 2025 20:59

Depends on my income

Slothpenguin

Apr 23, 2025 21:02

Bought 3 houses that needed doing up then sold for profit. That's how i own my home outright now.

Slothpenguin

Apr 23, 2025 21:05

I bought the 3rd house with what I'd made in the first 2. In the UK most people could afford to buy a rundown house thou! What would you need up in Scotland Thrones? On my road there's a 2 bed bungalow in a sought after area that needs dragging out if the 70s for 260k
A 2 bed house you need about 120k minimum with a 30k plus budget but you would t make much profit.

Slothpenguin

Apr 23, 2025 21:06

Couldn't afford *

Ryan Razorwire

Apr 23, 2025 22:20

First option is usually a good bet if you have the money to put into it.

I personally am going to build a large A frame house myself. Open parking underneath.

💖 Neon™ Waifu 💖

Apr 24, 2025 03:30

I would want the middle option. I don't want to be house poor, nor do I want to live in a s**t hole

DSBM99

Apr 24, 2025 09:13

Middle option if it's in a good area, if not and you're really wanting to buy a house I Me would do the third option if it's the only one in a decent area.

I prefer to own a nice sized house and have more land than a big house with little land.

WalterLuigi

May 2, 2025 03:48

I picked a small, cheap place for a while that I got at a good deal. Let me build equity and savings. Selling it now, but also now have a bigger place more like what I want. It's not perfect, but good enough and still affordable enough

Thrones

May 2, 2025 08:33

Same as England Sloth it sort of depends where you are. My house was 370k and is about 30 years old just outside of Glasgow. You can get 1 bedroom flats as cheap as around 80k in my old home town Dunfermline though albeit it probably isnt the nicest of flats. I dont think the major cities here are anything like London costs.

The advatange Scotland(well central belt anyway) is you can still get flats a bit cheaper away from the main cities but still in travelling distance however theres probably not enough of them as loads of first time buyers want them and they go pretty quick I think. And rents to me seem pretty high. My old place in Dunfermline was probably worth about 200k and apparently I could have got 1200-1400 quid a momth for it. Which seems bonkers for a house (3 bedroom) in a small town.

 

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