Savings or investing in property? What would you put your money on over the next 10 years?
| Related: | Personal Finance•Money•Savings Accounts |
Answers (11)
Good question,property i,d prefer,but you do need money to start,but listening to the latest with the government,they are saying that the interest rate is going to go to 8%,so not so good for property with mortgages.
Neither are to good at the moment, but if i had to choose then i would say property, what about you?
well, i would always go for property as a long-term investment.
yes think it is the best option
I don't think I'll be in a position to invest in property in the next ten years other than improvements to my own home and trying to pay off the mortgage as soon as possible, that's my main goal!
but if you had the option, which one would you go for?
I think I would probably go for savings for the simple reason that it's less hassle than investing in property despite the fact that property could potentially earn more. How was my original answer helpful?
I'd like to do both (I'm paranoid and like to have even my savings spread over a couple of accounts) but might not be able to invest in property over the next 10 years. That said, I can't see any savings opportunities that get me excited at the moment... it is more for me to know I have built up some money, rather than thinking I might get it to work and make me more money.
I'd say property but you have to have some serious spare money to do that whereas you can start saving with tiny amounts, they will eventuall grow. I don't think that many people actually have the choice really.
It's true that you have to have money to make money. Serious money that is.
that is so true, the more money you have the more you can make, especially in the current climate, in which there are amazing deals to have - in the property market for example, if you have the cash you really can get some bargains
savings. of course in the next 10 years i will be unlikely to have the cash to invest or save with uni degrees to get! :)
oh, are you going into Uni? Yes, they have increased their fees quite a bit, haven't they?
thankfully i discovered Open University! :) with how low my income is i get all my fees paid for plus i love their degree. though even after i get that degree i have to get my second, which i will probably have to do in england, as only 2 unis in scotland do arabic! :| i know its dreadful, i feel the government should put more money into uni's! it seems completely unfair that its getting to the point that really only the richest can afford to go without endless amounts of debt being accumulated! :)
Well, if interest rates are going to rise, and the only way does seem to be up...then savings rather than property.
I'd say property - best rate of return than any bank ultimately.
Property seems the best bet if you get a good buy next I suppose has to be gold.
that is true, gold seems to be at an all-time high, well spotted.
Gold is a comodity thats value as out stripped any othe investment in the last decade.
Whilst I probably won't be able to invest in property in the next 10 years, it could be a possibility in 15 and I would always consider this a good long term investment if the market is buoyant. At the moment my house is my investment and I would consider investing money in it to improve the resale value. I have already done this to a considerable degree and would do more too above placing my money in a low interest savings account.
improving your house is a good investment but be careful not to go overboard as there is a limit that most houses will reach no matter how improved they are on the inside.
I agree it is not a good idea to overcapitalise, remember the golden rule of property - buy the cheapest house in the best area,
Are you buying properties to do up & let out? Or are you buying at full market value? I keep hearing that the property market's going to take another downturn but it always seems to come back up again. For the longer term, I feel safer with bricks & mortar!
Posts within the money.co.uk community represent the views, experiences and opinions of members only. They should not be taken as financial advice and should not be followed without further research.
More Questions for Savings Accounts
Get fast answers to your money questions, Expert insight, top tips & much more...
i know, the 8% forecast is quite scary and will force some households to tighten their budget even more.