First time investor, invest now?

[bill mccallum]

Originally Posted by lsab

Although not in an indentical situation, I am in a situation!!

We've been living abroad for the last 5 years. Our son is 15 and the thought of university fees start to loom. If we're out of the UK for 3 years prior to him starting he'll be classed as an overseas student with fees of up to £18k a year

We think the time has come for us to buy in the UK but we can't afford much and we have to live in a specific place in S.Wales. I'm thinking of either putting down deposits on a few small properties up north and using the rents to cover mortgage (obviously) and then renting a house for own use in Wales or buying in Wales though we could only afford around £25k for deposit and would have to get an interest only mortgage. Whatever we buy would be with one eye on investment as my husband is only 7 years off retirement and we would probably then move to Egypt.

We have a studio appartment worth about £57k in Dubai and we're also buying an appartment in Egypt.

Any comments or advise would be extremely welcome.

Thanks
Linda

Some areas in South Wales can offer good value, I have a 3 bedroom house in Newport thats going for £72,000, with a BTL mortgage you would only have to pay a deposit of £10K, a £62K Interest only mortgage would be £320 per month, with a rental of £450.

if you want to know more my email is mccallum_bill@hotmail.com

i think you are in a really good position to buy now. Remember markets and the economy go in cycles, if its on the way down now it'll be going back up before you know it. You need to look at how to take advantage of the peaks and troughs in the market prices as an investor. if you're struggling there's a really good company called Fourth Development who are really good with first time investors. Give them a call and they can give you all kinds of advice.

[sqftmag]

Did you investigate Lincoln? Impressive regeneration. Entry levels quite high now but look for repossessions.
Even more important now to take a wise investment decision without rushing in!
That's why I'm so keen on university/tourist cities like York.

[coggy]

Go for terrace or semi detached houses in the North Of England. Aim for properties no more than 90k first time buyer homes.

Aim for at least 20% BMV and good rental cover above the mortgage for maintenance issues etc.

Stay away from New Builds, Off Plan, etc.

Research research research.

[frj]

Dear medion,

I think about TURKY also, it looks good but ALL of TURKY is in FAULT ZONE (earth quake), how about that point?

i am trying between Dubai & turky , ANY comments BY lsab also ?
Regards

[dave99]

.
Maybe consider Egypt - Red Sea
,
.

[Real25]

Well as i personally feel the UK housing market is questionable all though has done very well over the years and generally has a strong economy to keep the housing market booming, I think the next few years will be interesting.

[Real25]

hello im buyer...
i think You need to look at how to take advantage of the peaks and troughs in the market prices as an investor. if you're struggling there's a really good company called Fourth Development who are really good with first time investors. Give them a call and they can give you all kinds of advice.

[Rentoroni]

I would be a bit weary to invest in property at the moment Maybe look into other sectors for options...definitly stay away from the service sector though. Like sqftmag said there is still money to be made, however I would pick and choose the sector carefully. Property just seems a bit risky for my taste

[solutioninvestments]

Hi mate,

Sounds like you are in an ideal position to wait and see what happens with the economy. In my opinion the market in the UK will not be going back up in value for a good 2-3 years minimum until all this mess with the mortgage markets and the economy is resolved. There are still other areas around the world that have fantastic investment potential however the UK residential market is not currently one of them. With a recession looming you would not be bad advised to hold on to that 20k until the right opportunity comes along.

Hope that helps

Duncan