What precisely do you mean by this? Worked out fine how? From a quality of life point of view or from a financial point of view (e.g. they earned additional rental income and/or sold at a profit)?valentine said:Thanks Clubman. I suppose I am aware of many people who stretched themselves a few years ago and it all worked out fine (which includes a lot of people in the past few years!).
What is your goal in buying a place like this? A getaway place of your own? Rental income? Capital appreciation? Something else? If some combination of all of these then prioritise those that are most important to you. If it's primarily a holiday home then do you really need/want one and can you justify the expenditure and ongoing costs (time and money)? If it's primarily an investment property then is property the most suitable investment compare to other alternatives for your right now given your existing financial and personal corcumstances?Wondering though if there are people who stretched themselves and regretted it afterwards. If we buy this house we wipe out the security of having savings and the security of knowing that rainy day money is available. When I read of personal debt out there maybe we are in the minority thinking like this. Interested in what others think?
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