Quote:
Originally Posted by ponrauil
The thing is buying a house (or a flat) you won't pay just the mortgage. You'll have to pay more taxes (if it 's the same in the UK as it is in France or Canada), and for maintenance...
Unless it's in a place where you are the sure the prices will go up quite fast in the next few years, I'd wait to have substantial funds before buying.
Also when you rent you can still save money and you're more free to move when you feel like it.
Ponrauil
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In Holland we get money back from the taxes when having a house, this is based on intrest paying for the house, and tax paid from you gross salary.
For instant, my interest (of course payable) for house is about 900eur a month, I get 350 eur back every month from the tax-authorities (this is exluding what I get back for health-care), so I end up paying about 550 for my house (exluding down-payments & insurrances)
The more income, the more you will get back. However that is likely to be changed....