Recently, I received an inheritance plus my current savings and what my parents are willing to help me out with that comes to about £130k.
I have to move out soon as my parents are moving away, so unless I want to go with them (which I do not) I have about 3 months to sort myself out. Originally I was going to rent a place with my friend in the city centre near my job, however this inheritance has changed everything.
I can either get a mortgage and buy a house where I am now, and my friend can rent a room off me to make it cheaper for both, or I can buy a house up north in a cheaper area without a mortgage and can rent it for just over £1k p/m, and then rent with my friend which would come to about £500 p/m so it would cover my rent and effectively make money?
Any help much appreciated.
TLDR - Can either buy a house for myself with a mortgage and my friend can rent a room off me, or I can buy a cheaper house without a mortgage and rent that out for more than my rent would be.
Submitted July 12, 2017 at 05:57AM by CobiLUFC http://ift.tt/2tdP04F
