ASK439: Should I buy a home or invest? PLUS: What next for leasehold reform?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 30 July 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's Tuesday, and time to answer two more of your listener questions on Ask Rob & Rob! (0:35) Ryan lives with his parents and is eager to start property investing. He's debating whether to buy a buy-to-let property to rent out right away or to purchase a residential house to live in temporarily before renting it out. With a £50K deposit, he turns to Rob & Rob for guidance on the best route for his first investment. (5:17) Corey's recently purchased a one-bed flat near Coventry University to add to his portfolio. With the leasehold reform initiated, he wants to know the general pros and cons and how this bill might impact his investment. Enjoy the show? Leave us a review on Apple Podcasts - it really helps others find us! Sign up for our free weekly newsletter, Property Pulse Send us your question by calling us on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply) or click here to leave a recording via your computer instead. Find out more about Property Hub Invest

Transcript

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0:00.0	Hi, I'm Rob. And I'm Rob. And this is Ask Rob and Rob.
0:04.8	Hey everyone, this is Ask Rob and Rob, the show where you give us your questions and we give you answers in return.
0:12.2	It's a simple format, but it works and the reason it works
0:15.9	is because of that simple format and it's also easy to get your questions in. So let's quickly
0:20.4	remind you how to do that before we start answering the first question.
0:23.8	Yes, one piece of information required only. Property Hub.net.
0:27.8	That is it. Go there. You can send us a written question or you can send us an
0:31.6	audio question to appear on this show and
0:33.8	then brag about it to all your friends just like Ryan's about to.
0:37.0	Hi Rob and Rob so my name's Ryan I'm 23 years old and I'm still living at home
0:41.5	and my parents but I'm looking to get into property
0:43.7	and I'm not sure whether I should go down the route of going to get a buy-to-let to lend out to tenants
0:49.7	or whether I should go for a residential sort of house and then living it for X amount of time because eventually
0:56.2	I'd be looking to rent that out to tenants as well. I'm happy to live at home whilst I have the property.
1:00.8	Of course I can do it up at the same time but the goal is to get a property
1:04.8	to rent out to tenants so let's say I've got a deposit of between 30 to 50k what would you
1:11.6	say is the best route for me to go when getting my first property?
1:15.6	Hey Ryan, thank you for your question.
1:17.6	You're in a great position and I'm pleased that you have this choice at such an early age
1:21.7	because if you get this right and continue to get it right you could be in a very good place
1:26.7	in 10-20 years time so let's help you get it right if you are happy to live at home and live at home for the foreseeable future,
1:36.0	then I would be tempted to go for the buy-to-let option first. And the reason why is your own home is arguably not an asset. Rich that poor dad would argue very strongly against it being an asset because while it may go up in value, you have to maintain it, a lot of money goes into those properties during your ownership, so it becomes a bit of a money pit.
	...

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