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What’s the attraction? The yield on your capital will be pretty uninteresting.
If you want to move chain-free it’s probably cheaper and less stressful to rent another place, sell your current place, then buy something else.
NickCJ-
Yes, the return is fairly minimal. Realistically any substantial return would only come from property prices increasing.
The main reason I'm considering pushing this through now is we have a baby on the way in a few months and would prefer to be out of the flat and into a house at that point (or soon after). I suspect that if we don't move soon then the likely stagnant property market and lack of first time buyers could mean we may not be moving for a number of years.
aggi
Looking at the numbers I could possibly rent my current flat and buy the house that we were originally looking at.
If all goes well (rented 11 months out of 12, property prices don't plummet in the medium term, rents stay stable, interest rates don't shoot up) then the numbers would look pretty similar to selling and buying.
Is it a terrible idea though given the possible uncertainty coming up? We will obviously be much more exposed to any drastic changes in the property market and I don't particularly want to end up as a landlord.
Any thoughts?