Thinking about heading home to Oz later this year, lucky us. We currently have a reasonable amount of pounds saved up over the past 6 years, plan for it was to be a house deposit back home… but, with the woeful exchange rate at the moment, the thought has occurred to me that perhaps we should ‘park’ this money in a ‘cheap’ 1 bed flat/studio somewhere in the UK (no idea where, not in London I’d guess!) and let it out with a view to sell at some point once the exchange rate starts to improve (maybe a long game!).
We’re first time buyers, so really no idea about this malarkey, shouldn’t have a problem (I think?) getting a mortgage as we’ve both been in the same jobs for 5+ years and have a decent deposit, could be up to 40% depending on what value property we went for (I’m thinking in the £50-£70k range btw…)
So, any thoughts on good areas to look at? I’m thinking close to some of the regional Uni’s would be a good start? Any other ideas/areas that we could consider?
As a random example of what I’m kind of thinking of, here’s a 1 bedroom flat I spotted in Paisley (Glasgow, right?) for £48k – Gumtree ad…