House buying advice...

Originally Posted by Jelster

I'm looking for a 2nd property. My boy is off to Uni next year and I reckon it will be cheaper for me to buy locally, and then rent the other 2 rooms until he finishes his degree. Then, 4 years later, I can either keep it, or flog it. Any extra money I make will help pay off my Mortgage (which isn't that big anyway).


Lee, best of luck BTW.

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Good idea, "buy to let" is at its most profitable when it comes to student houses- constant demand (new tennants every year), unfussy tennants (so cheap furniture and cheap location) and 3 or 4 people paying rent, rather than one or two so lower risk and more money in total. A friend's dad did this for a 4 bedroom house and not only did the other 3 rooms rent pay for the mortgage on the place, but also paid for all his food/textbooks/pocket money etc. whilst he was at uni- in short paying for his lad to go through uni and getting an asset out of it himself for v. little outlay. He kept the place after his boy graduated and so far as I know, still rents it out and makes a nice bit of pocket money from it. Maybe you could set it go into your MV fund?

[Kylie]

My boy is off to Uni next year and I reckon it will be cheaper for me to buy locally, and then rent the other 2 rooms until he finishes his degree.

Except if he looks after houses as carefully as he looks after his moped, in which case you'll be down a house...

Originally Posted by Kylie

Except if he looks after houses as carefully as he looks after his moped, in which case you'll be down a house...

Houses don't need changing the oil!

[Luckypants]

Originally Posted by Filipe M.

Houses don't need changing the oil!

Neither do 2-strokes! Just a constant feed of oil when filling with petrol.

Originally Posted by Luckypants

Neither do 2-strokes! Just a constant feed of oil when filling with petrol.

My turn to stand corrected

Originally Posted by Ed

Well thank you gmonsta. Depends if you want a call centre with unqualified staff dealing, who really know very little about land, or whether you want to instruct a solicitor with 20 years experience who deals with your case personally, at an affordable price.

I'd try these guys, I've heard excellent reports . I believe that one of them even rides a motorbike and posts on a well known bike forum :

www.edwardaustin.co.uk

bugger ... if i knew you did house sale stuff i would have had no worries in dumping the guys i was with

Originally Posted by Ed

Well thank you gmonsta. Depends if you want a call centre with unqualified staff dealing, who really know very little about land, or whether you want to instruct a solicitor with 20 years experience who deals with your case personally, at an affordable price.

I'd try these guys, I've heard excellent reports . I believe that one of them even rides a motorbike and posts on a well known bike forum :

www.edwardaustin.co.uk

*searches for the shameless plug icon*