Tempted to buy

vikings2012

Hi,
A house has just come on the market where I live. The location and house is perfect and is near my home place.

It’s list price is 250k, I have the deposit and AIB will lend me the remaining amount.

While the house and location is perfect, the timing is not. I am young and will be traveling for the next 18 mts.

Do you think I should purchase or just hold out?

Any advice would be much appreciated

tomister

vikings2012 wrote: »

Hi,
A house has just come on the market where I live. The location and house is perfect and is near my home place.

It’s list price is 250k, I have the deposit and AIB will lend me the remaining amount.

While the house and location is perfect, the timing is not. I am young and will be traveling for the next 18 mts.

Do you think I should purchase or just hold out?

Any advice would be much appreciated

Will you still travel after you purchase the house? You might need to organise a house sitter/tenant. In terms of mortgage repayments can you cover this while away even if you don’t get a tenant in.
If you’re young and travelling is there a risk that your perspective might change when it’s time to come home? I know people laugh and say they found themselves while they’re away but I’ve seen people’s life plans totally change after travelling for a good while.

tomister

tomister wrote: »

Will you still travel after you purchase the house? You might need to organise a house sitter/tenant. In terms of mortgage repayments can you cover this while away even if you don’t get a tenant in.
If you’re young and travelling is there a risk that your perspective might change when it’s time to come home? I know people laugh and say they found themselves while they’re away but I’ve seen people’s life plans totally change after travelling for a good while.

You're right; your perspectives definitely can change after travelling! They did for me, and then changed again as I got older, you evolve and see things differently and want to do different things. All healthy by the way...

OP, if you feel the way you do, I'd probably say go buy it because you seem quite mature in your thinking. Just think though what happens if you meet a French supermodel who you fall in love with, do you still want to live in that dream house if she's not keen to? ;-)

vikings2012

tomister wrote: »

Will you still travel after you purchase the house? You might need to organise a house sitter/tenant. In terms of mortgage repayments can you cover this while away even if you don’t get a tenant in.
If you’re young and travelling is there a risk that your perspective might change when it’s time to come home? I know people laugh and say they found themselves while they’re away but I’ve seen people’s life plans totally change after travelling for a good while.

Thanks for your reply some thought worthy points. I feel like I will be able to cover payments and have a life.

I currently live with grandparents and siblings and while I gratefully enjoy spending time with them living with them is kinda getting to me and I feel I need independence. So coming home to my own house could be a good thing.

On the other hand, I might be restricting myself in terms of future opportunities I.e moving job, changing career or living abroad.

Perhaps it might be a good investment.

vikings2012

[Deleted User] wrote: »

You're right; your perspectives definitely can change after travelling! They did for me, and then changed again as I got older, you evolve and see things differently and want to do different things. All healthy by the way...

OP, if you feel the way you do, I'd probably say go buy it because you seem quite mature in your thinking. Just think though what happens if you meet a French supermodel who you fall in love with, do you still want to live in that dream house if she's not keen to? ;-)

😂😂 - I most certainly will fall in love with All French supermodels I come into contact with. However for some strange reason I don’t think the feeling will be mutual . Haha Thanks

the_syco

vikings2012 wrote: »

I am young and will be traveling for the next 18 mts.

The house will be the reason why you'll be forced to come home after said 18 months, as opposed to possibly settling down somewhere along the way.

Also, you'll have to pay mortgage for those 18 months, so whatever you think you have saved will be a lot less, and the 18 months may be cut suddenly short if sh|t happens (flood, fire, etc), and you have to come home to fix the issue. Also, how shall you insure it? Most insurance companies need someone to live there.