ezzy
15-01-2013, 14:12
I have been reading on and off around the subject of purchasing inTenerife but I get a lot more out of personal stories from the residents like yourselves :-)
My dilemma is knowing whether to save a substantial deposit over the next 2-3 years and slapping down a nice lump sum. However I am unsure whether renting out property is something that sits well with me? I know it would mean an income of sorts dependent on the property however would it seem silly to buy property (albeit a studio) and just use it for personal use when it will have a good 20-30 years mortgage on it?
Again I understand this is all down to personal preference but would the latter seem a silly thing to do? Least then it would be free for family and friends to use whenever they liked. I guess the angle I'm coming from is the long term. Someone I can pay for and is manageable over the coming years. I've always thought property is the way to go and have never been one for gadgets, cars etc as for me personally they hold no value.
Me and my partner have recently purchased our first home together in the UK and we bought on the premise should one of us loose our job, we could manage to pay all that needs paying. However I've always wanted something of my own, nothing big just a hand in the water so to speak or a finger in the pie lol; maybe I'm showing my age and being to optimistic and idealistic but life's too short as they say :-)
Any advice would be greatly appreciated as always
Gracias :-)
My dilemma is knowing whether to save a substantial deposit over the next 2-3 years and slapping down a nice lump sum. However I am unsure whether renting out property is something that sits well with me? I know it would mean an income of sorts dependent on the property however would it seem silly to buy property (albeit a studio) and just use it for personal use when it will have a good 20-30 years mortgage on it?
Again I understand this is all down to personal preference but would the latter seem a silly thing to do? Least then it would be free for family and friends to use whenever they liked. I guess the angle I'm coming from is the long term. Someone I can pay for and is manageable over the coming years. I've always thought property is the way to go and have never been one for gadgets, cars etc as for me personally they hold no value.
Me and my partner have recently purchased our first home together in the UK and we bought on the premise should one of us loose our job, we could manage to pay all that needs paying. However I've always wanted something of my own, nothing big just a hand in the water so to speak or a finger in the pie lol; maybe I'm showing my age and being to optimistic and idealistic but life's too short as they say :-)
Any advice would be greatly appreciated as always
Gracias :-)