Change happens: rent vs buy

People say that everything happens for a reason.

The truth it is that I never have liked that much this statement and I though that, the people are the ones in charge of their destiny and they can make changes to improve their lives.

Since I came back from my holidays I have had this feeling of going back to Spain soon. This always happens to me when I go back home for holidays, but then when I come back home for a couple of weeks that feeling starts to fade away and I feel like I belong here in Brighton. I have been renting with my partner for 4 years and, I don’t know if you know but Brighton is sooooo expensive. I guess that other places like London are as well but the price for renting a 1 bedroom flat is ridiculous. This is an amazing business that people have to make a profit and live their lives (in Costa Brava probably) which make me very angry.

The thought of buying a property in UK also is a joke. The prices are so high and the problem comes when you need to save the deposit, which if you are first buyer (Help to buy Government Scheme) is not that bad as if you have bought other property before. I have been trying to save money during this time and I think I have done a good job if I take into consideration that I pay rent, bills and I need to live as well. But my saving are not good enough to start buying nothing. So a long time ago I gave up the idea of buying a house in this country. Suddenly everything changed!

Goldfish-Home

Last week my partner got a present (more like he inherited) from a family member. We were not expecting that at all. I am still in shock. Because of this change, now we will be able to buy a house or a flat. This money will help us in our deposit. Obviously we still looking for something not very expensive because we can’t afford a very expensive house, but is a start to build something together and invest in ourselves.

I am the kind of person who doesn’t know nothing about investment, mortgage or properties, so I have been useless with this new topic. We have been so lucky to get this money suddenly. Without this help we won’t be able to buy a house never, which make me think in those people like me with “normal” jobs that they are not going to be able to have a house never. Which is not a bad thing if you have decided to rent according your lifestyle but usually the houses that you can rent in Brighton for a normal price are rubbish! People need to spend more that £1,500 pm if want something nice (and that without bills!).

Now is when come the trouble. We have been researching properties around the area of Brighton and Hove and the truth is that there is not much… so we have the big dilemma of: we buy something not very nice and we stay close to our works or we move outside and we get a nicer property but we will have to travel everyday? It is so hard, because right now I have my job right in the corner (less than 1 minute!) so is going to be difficult to find a house or flat in Brighton.

19254

I am scared to sign a contract with a bank for 35 years as well… you never know what is going to happen. Also makes me think that I will have to take roots in that place. My partner keeps telling me that I need to stop thinking like that and seeing that as an inversion. He says that we always can sell the property and move somewhere else.

Either way I feel very lucky right now. Now is time to focus in the present and stop thinking in what will come. Let’s see how the adventure goes…. I will keep you posted.

Where is the best place to leave? Someone from East/West Sussex? Let me know if you are in the same situation. Here there is some help for those in UK looking to buy a house:

https://www.moneyadviceservice.org.uk/en/articles/help-to-buy-homebuy-and-other-housing-schemes

Lots of love,

S. xxx

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