Should i save for travelling or a house?

Question

i would love to travel and do a big trip around eruope but on the other hand i want to buy a house for security reasons and investment, what would you do? im 19

Answer 1

TRAVEL!!!!  you have the rest of your life to own a house for all the right reasons.  If you don't travel while you have the freedom, you will regret it for the rest of your life.  You will NEVER regret travelling.  It's the best investment you can make in yourself!!!!

Answer 2

It's entirely personal and probably you already weighed it up that the house option is a long-term investment so financially the smarter option

However, if you really have the bug and really want to visit Europe, then I would say do it now when you have little/no commitments.  As soon as you start a job (then less holidays), a family (less money and more organisation required) then you will find less time or inclination for an extended trip to Europe, but still you don't want the "what if" syndrome

If I read the news (and this is assuming you are from the UK/US) then whilst the credit crunch is biting it is an uncertain time to invest in property and most people are holding off from this commitment

Also what you could do, is a comprimise.  Go to Europe but instead of a big trip e.g. 3 months - settle for 3-4 weeks instead and decide where you want to go in advance and plan in advance (booking and arranging tickets etc in advance is a good cost saver).  This way you get the best of both worlds and no guilt (or at least less anyway!)

Good luck whatever you decide

Answer 3

At this time, save and keep your money in the bank for a few years.

By the time you are mid twenties  you will have a better view on what you want.

If you buy a house at this time you will need to have a mortgage for such a high percentage that buying is rather risky anyhow.

After you have saved for a few years you will be ready to buy with a starting amount, (less risky mortgage or wider choice in houses) and if you decide to travel you have your money ready rather than having to sell or rent out your house, both containing the risk that you get less on it than you need for paying off the debt and pay for your travels.

And by asking here you can know what kind of answers you will get, travel, if you ask in one of the home owner parts of the site you will get the buy a house answer.

Answer 4

travel, travel, travel

if you buy the house now, then you may never get the opportunity to travel the way your heart wants to now.  you can always save later on and will still have the experience of travel in your life.

good that you're thinking about this at 19, so maybe you can put some money aside for when you return.  how about doing a bit of work while travelling, coz then you can supplement your time abroad and come home with a bit more than expected.

you're going to have many experiences while travelling that you just wont get otherwise, so start planning now and enjoy.

Answer 5

Travel, no brainer.  The debt of owning a house will always be there.  Besides if you are in the US, the price of real estate is expected to continue to go down.