moving up the property ladder

[decembersal]

Hi guys,

Any advise on whether it is better to slowly make ones way up the property ladder, incurring stamp duty along the way or is it better sense, in the long run, to buy a 'forever' house at the very tip top of ones budget and live a meagre existance for the first few years?

I am wavering between the two so would appreciate any opinions!

December

 

[Fly]

I would go for the "forever house" but have a few in mind (and maybe consider ones that could be extended to become your forever house) and be prepared to bargain on it. If you buy an intermediate house with a view to trading up again in a couple of years you will have to pay stamp duty twice and it is a considerable amount. This is also a flatter market than a year or two ago so you can't rely on building up a lot of equity.

 

[TTV]

you didnt give the option for renting + saving now, waiting until prices drop then build the perfect home in the perfect location. Its win/win...either way be careful that the ladder doesnt move and you fall off..

 

[conor_mc]

you didnt give the option for renting + saving now, waiting until prices drop then build the perfect home in the perfect location. Its win/win...either way be careful that the ladder doesnt move and you fall off..

You're not allowed to give that option.......