aaron8699 10 #1 Posted September 15, 2008 Hello, I’m from the US but go back and forward to Sheffield for work. I will probably have to rent or buy an apartment in the city soon as I'm spending more and more time here and would like to bring over my girlfriend and child with me while I'm working over here. I would prefer to buy as I see it as a chance for investment. I hear that the housing market isn't great in the UK at the moment. What is the general consensus form the posters. Is it a good time to buy a small apartment now? Is it a good investment or do you think that it would be wise to rent? Share this post Link to post Share on other sites Share this content via...
vinceb 10 #2 Posted September 15, 2008 Property is certainly a possible investment, but you'd be wise to add up the amount you would spend on your mortgate versus the amount you would spend on rent and decide based on that whether it's a good investment right now. I suspect not myself, though others here may disagree. Share this post Link to post Share on other sites Share this content via...
Cyclone 10 #3 Posted September 15, 2008 Buying at the moment as an investment has to be considered a long term investment. In the short term you are likely to loose money on the apartment, and of course you'll also be paying interest on the mortgage, buildings insurance and other costs that you don't pay if you are renting. Share this post Link to post Share on other sites Share this content via...
dizzy_chick 10 #4 Posted September 15, 2008 I would recommend renting for a period until you get your bearings a bit and work out what sort of accommodation, and in which area of the city, is most suitable for your family. Some of the city centre apartments are not selling at the moment, so there is a risk that you might lose money. Share this post Link to post Share on other sites Share this content via...
Grandad.Malky 11 #5 Posted September 15, 2008 I would recommend renting for a period until you get your bearings a bit and work out what sort of accommodation, and in which area of the city, is most suitable for your family. Some of the city centre apartments are not selling at the moment, so there is a risk that you might lose money. I would have thought the trend for city centre apartments has peaked in most cities not only Sheffield, given your circumstances I would have thought a short term lease 6-12 months would be the way to go. Then look at it again when the “dust as settled”. Share this post Link to post Share on other sites Share this content via...
Hazels2 10 #6 Posted September 15, 2008 Hello, I’m from the US but go back and forward to Sheffield for work. I will probably have to rent or buy an apartment in the city soon as I'm spending more and more time here and would like to bring over my girlfriend and child with me while I'm working over here. I would prefer to buy as I see it as a chance for investment. I hear that the housing market isn't great in the UK at the moment. What is the general consensus form the posters. Is it a good time to buy a small apartment now? Is it a good investment or do you think that it would be wise to rent? An investment in property right now is akin to putting your money down the loo. Share this post Link to post Share on other sites Share this content via...
Milky Joe 10 #7 Posted September 15, 2008 I think the American definition of 'small apartment' may vary greatly from that of the British. A good size 2 bed apartment in Sheffield should be about 1300-1500ft² Share this post Link to post Share on other sites Share this content via...
