In our bi-weekly series, readers can email in with any questions about property to be answered by our expert, Jonathan Rolande. Jonathan is a professional property-buyer and housing commentator who has bought and sold over 1,000 properties. If you have a question for him, email us at money@theipaper.com.
Question: I am a 25-year old buying a one-bed flat in Manchester – or considering it at least. I have a budget of around £160,000, which seems enough to buy but to be honest I’m wondering about buying somewhere bigger when I can afford it and renting until then. Prices for one-beds seem to be falling and I’m wondering whether it’s really worth it? Do they get you on the property ladder and help you limb up like they used to.
Answer: You’re certainly asking the right question at the right age. The property market is quite challenging at the moment and buyers can no longer rely on capital growth to come to the rescue if there is a misstep.
Shorts
Flats often make great homes but frankly, they make me nervous.
