From: Pollux 
Newsgroups: uk.finance
Subject: Re: Would renting be a good idea for me?
Date: Thu, 11 Dec 2003 20:12:16 -0000

I know nothing about your circumstances, but I would think you recently=20
graduated. In a way, at your age it could be a good thing to have some=20
flexibility location wise, so renting might just be a good idea.

I have to say say I would be tempted to sell the house and repay the=20
debt if I was you. It would give you such a greater flexibility that I=20
think it is worth it.

Just my humble opinion.


In article <8ec82db63ba4f04fd0fcd3ac6768d76f@news.1usenet.com>, alfi286
@aol.com says...
> I'm currently 23 and have about =A320k of debt mainly from student loan, =
car
> loan and credit card, overdraft etc.  I currently have a house worth =A31=
10k
> and owe =A362k.  Most of this profit has come out of nowhere in the last =
2
> years.  I have been wondering about selling my house after christmas and
> using some of the profit to pay off all of the above leaving me with abou=
t
> =A325k to put in a savings account.  Then I was thinking of renting for a
> while and seeing how the market goes and letting my credit rating clean
> itself up (as it is suffering from too many different finance agreements
> although no missed payments).  After 6 months or so I could re-buy using =
the
> 25k as a deposit ands raising another =A3120k mortgage from my salary.
>=20
> Besides wasting money on rent for a while - what are the main drawbacks w=
ith
> this plan.  It is unlickely that house prices are going to shoot up if I
> just sit on my money and if they come down I will be able to buy more.
>=20
>=20
>=20