marko979
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Here's a comparison for you.
3 years ago:
- I spent all my money on a flat and the mortgage took me to the limit of what I could afford each month.
- My sister spent all her money on travelling and gave up her job.
Now:
- After lots and lots of hard work and hard saving, I've managed to get together enough to go travelling for a year and still keep paying my mortgage.
- My sister got a job and worked hard and saved hard and has just bought a flat.
So we'll both have gone travelling for a year but I've got 3 fewer years on my mortgate and gained equity on it from rising prices.
As a result, I think it's best to get on the property ladder as soon as possible.
If it helps you relate to things, I'm now 27. |
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the Boss
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Do what you want. It's your money. |
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lonely _but_smilling
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well.... i would spent half saving for the future and the other half for traveling or doing whatever i wished to do with it. surely i wouldn't regret it |
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man with the golden gun
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Seen as you cannot make up your mind .........send it to me |
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Sky Boy
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My consultation fee is 1000 Pounds....Pay it and get solid advice... |
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Dominic G
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I'd follow the advis some one else said buy the house rent it out sorted. |
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vicky s
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definitley go traveling. you can save up for a deposit on a house when you get back. Once you get settled down with a house etc you will be less likely to go traveling so i say do it now!! Or you could always split the money.....use half for traveling and save the other half towards a deposit for a house! |
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Just me
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spend half on each :) |
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old know all
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I think you should buy us all a drink. |
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DeeDee
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Split it. £5K towards house and £5K towards travelling. Best of both worlds. Good luck. |
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way_2_short84
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A house is an investment for yourself and your family, you will get the money back if you decide to sell. When you retire, you can sell the house and travel the world if you want, but you will have gained equity and you'll have money to spend. If you don't have a family then honestly, why not travel? |
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Anon
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You should sooo go travelling. You'd have the holiday of a lifetime! |
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Dude
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with that much I'm inclined to say- JUST DONT SPEND ANY OF IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
but that doesnt make any sense, so spend it on what makes you happy.
Travelling-to me actually makes more sense I say travel the WORLD take as many pictures as you can and take a black book of friends you met or you'll regret it!!
A house as you know is the "smart choice" but-screw that! that isnt living!
I havent had to make that decision yet! have friend who did he had a lot of fun but spent his money fast and had to work shitty jobs to continue travelling-he also met some shady characters but beside that evrything was peachy!
a house versus travelling = :( versus :)
although with a house it will be harder to keep up with the bills but when you catch up with em (eventually) you can do all the travelling you want.
What I do when I face a dilemma is flip a coin sometimes I'm disapointed with the outcome so try it and judge your reaction and go with your gut feeling either way its win/win! |
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Booooo
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How old are you anyway?
If you're young try building your wealth first, then go traveling. Well what's the point when you traveling back happily then come back your life to work like hell again.
If your're old, well, gimme a hell yeah, why bother as you have to live in debt again and again. Just enjoy your live.
As for me, I'm still young and just think of getting a house and car to get a good wife and when I have enough saving to last to my golden age, then I go travelling.
As for life misery, why do you think you have to buy life insurance for. |
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4xMoneytrain.com
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If you are still young, invest in a house. If you don't want to be tied down and paying a mortgage, invest the money and take the profits and go travelling. That way, you can have your cake and eat it too!
Now the big question is how do I invest the money to make a sizable return? Well, go to http://www.4xmoneytrain.com
My account has made over 70% return from 12th October 2006 to 3rd December 2006. I opened a new account on 7th December 2006 and i am already up 10% as of 11th December 2006.
If you use the 10,000 to go travelling, it will be gone by the time you get back and you will have to start all over again.
With the above strategy, your 10,000 will continue making money for you while you are on vacation and you will come back to a bigger account.
Give it a try. |
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italinfroboy
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House you will save more money on the % of the LOAN ! |
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Ronald S
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If you use it as a deposit for a house will you be able to keep up the mortgage payments as well as things like council tax, electricity, gas, water, repairs and insurance? On top of that you will have to buy furniture. Also consider that, just now, you may be buying at the top of the price cycle.
If you travel a great deal, do you think you will be able to return to normal life here? On the other hand you may see a lifestyle and an opportunity that appeals to you and which could change the rest of your life.
The choice is yours - as it has always been. |
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Lollipop gal
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I would suggest u to buy a house cos it's a long-term investment. A house is your asset. u may choose to rent it out & earn some extra cash. then take the cash to travel. if u spend it all on travelling, it will not give u any monetary returns when you're back from your trip. |
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Byte
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be sensible .....deposit for a house |
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5yellowchips
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neither, invest in long term high div shares & deposit 4 a house later |
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Alfretz T
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It depends. Firstly, how old are you? If you are still young and strong, buy a house that you are able to service the debts with some cash to spare. If you are getting old and feeble, go travelling while you still can. Secondly, consider how long do you have to service the debts if you buy a house? After which, you could enjoy living in the house free of encumbrances. A roof over one's head, without having to worry about debts after one retires is important to many. Thirdly and more importantly, is your job/future income assured and/or stable? Losing your job/income would affect your ability to service the debts. Most important of all, at which stage is the real estate cycle now? In other words, is price of the house expected to go up or go down? If the former is likely, buy a house; and go travelling if the latter is likely. |
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Rich T
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Deposit for a house. Get a mortgage buy a house, then rent the house out and go travelling.
A win / win situation. |
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jayndee13
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You should let your money work for you. Invest it and it can double or triple. Get expert advice. Brokers usually consult for free. However, that is not a lot of money (compared to big fish) and brokers tend to treat you like your worthless, trust me I know, worked for brokers for 14 years.
If you get a broker and they do not see you at least once a year, they stink at what they do. Ask them when they review how often do they go over your account with you, annually is a minimum. Larger clientele we would see 4 times a year. |
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peanut1973
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It seems you've answered your own question. You sound like you really want to go travelling and you see buying a house as weight around your ankles, something you may resent in future.
I bought a house first then went travelling for a year a couple of years later. The rent I made on the house paid for my travels so I spent a bit of time doing voluntary work but the majority of it drinking beer and sunbathing. See the opportunity to buy a house as an investment, one that you can use the dividends to do what you really want to do in life - spread your wings and enjoy the world. |
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Annie M
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Buy the house. After a few years when you have made some equity, you can then borrow against the house and go travelling then. You are a fool if you spend 10k on travelling! |
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champagne
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£10,000 wont last very long so if i was you i would invest it into a house |
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Jackie
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House - without a doubt! Leave it a year and house prices could be through the rof but travelling wont be much more expensive. Good luck! |
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hughro2
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I am 68 and have faced the same question. £10K wouldn't haver gotten me much of a house - I needed something like £50k down payment to make sense. But that £10 ki got me a winner of a holiday! Age has something to do with the answer, I think |
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cheekyhoney2000
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well i think its best to spend it on deposit on a house u know like rent, electric bils and other bills then once u save up again, u can go travelling so focus on depositing on house first thats the better option |
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My_Name
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A house definitely !!! We doubled a small amount of money we put into a house with someone else.... it took just 2 years. Think about it - in two years time you can have both!!!
Buy a house, it's just as big a risk, an you'll have great fun doing up yourself... If you go travelling now, you'll never get that money back. In two years time you can have both. |
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puffy
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Travel!
Life is not a rehearsal!
Enjoy! |
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