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The Property Podcast

ASK300: Is it silly to get a buy-to-let while still living with my parents? PLUS: Should I invest in property or a private pension?

The Property Podcast

Rob Bence & Rob Dix

News, Investing, Education, Business, Business News

4.82K Ratings

🗓️ 31 August 2021

⏱️ 6 minutes

🧾️ Download transcript

Summary

It’s time for another round of listener questions for Rob & Rob, and this week they’re answering some commonly asked ones.  First up is Reese from Plymouth.   Reese is currently living at home with her parents, but she’s ready to make her first buy-to-let investment.  She wants to know whether it’s sensible for her to invest while living at home, or if she should wait until she’s in a house of her own before getting started with investing.  Next, The Robs hear from Bailey in London.  Bailey’s finally in a position where he’s ready to purchase his first buy-to-let property, but he’s getting conflicting opinions from his parents.  They feel strongly that he should be putting his money into a pension instead of property... Bailey wants to know whether Rob & Rob think one strategy is smarter than the other.  Tune in to find out.  Do you have a buy-to-let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).   Or if you prefer, click here to leave a recording via your computer instead.  The next question on Ask Rob & Rob could be yours.   Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So, get yourself over and introduce yourself.  See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello everyone, welcome back happy Tuesday to you if you're listening on the day downloads

0:12.2

and well done if you are for your hard luck and well done to these lovely people who've

0:15.4

got some questions in. But before we get to them, let's give you a quick reminder of how

0:19.3

you can get your question into us and hopefully answered on the show.

0:22.1

Yeah, well done to you as well if you have this number saved or memorized but if not I'll

0:25.6

read it out for you. It's 0138083035 or you can go to property hub dot net slash ask and

0:32.1

leave us a voicemail there. Dead easy, only takes a few seconds and you get your question

0:36.4

answered. What more do you want? Well that was good enough for Reese. So let's have a listen

0:40.0

to this question. Hello Robin Robb, it's Reese from Plymouth. Thanks so much for the content

0:45.8

you guys provide. It's really helped me gain the confidence to start investing in property.

0:50.7

My question is actually about getting started. I'm working but I'm still living at home

0:55.1

with my parents. Would it be silly to start buying rental property while I'm at living

0:59.4

at home? I'll be really interested to hear your thoughts. Thanks Reese. If you are in that

1:04.8

position and look at you, why not is the response? If you can invest in property while living

1:11.9

at home and therefore I mention your expenses are very low, then it puts you in a great

1:17.5

position. If you've got no intention to move out right now, whether that be buying or renting

1:22.1

and your parents are still quite happy to have you, but you've got the funds to invest them,

1:26.4

crack on. Now that's the good news. Something to make you aware of is not bad news but just

1:30.9

an awareness point is your first mortgage is definitely going to be more challenging because

1:36.0

you'll be a first time buyer, a first time investor and when you go for a mortgage, there's

1:41.8

lots of different things that will kind of strike out different lenders. So sometimes at your age,

1:47.4

if you're more mature, or without you are, sometimes it's the value of the property there's

...

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