Advice : Should I invest in a franchise or buy a house in the UK?

[New World]

I am currently based in the UK and have been working full-time for the past 8 years. Although I have saved most of my income during this period, I regret not investing in stocks and shares earlier in my career.

However, in 2019, I began investing in the stock market by opening a stock ISA with Vanguard. Additionally, I opened a pension pot with my employer and contributed 10% of my income, which my employer matched and goes straight into my pension fund.

Furthermore, I also opened a help-to-buy account, which is a scheme aimed at assisting first-time house buyers to save for a deposit. At present, I have saved enough money to make a deposit for a house. However, I don't have a partner or anyone to live with, and I am not keen on moving out of my family home.

Therefore, I am still contemplating whether buying a house is the right decision.

My family thinks I should purchase a house, but I am not entirely convinced yet. Instead, I am considering letting my help-to-buy account keep growing while I use my cash savings to invest in a franchise that could potentially yield profits.

Moreover, I am currently working on getting my driving licence since many of the franchises that I plan to explore require you to have a car.


Should I purchase a home or wait and invest in franchise ?

 

[SultanSharif]

I wouldn’t recommend financing a house through a mortgage, terms are tough and if something happens they can repossess the house and you won’t get your money back. You have enough money for a deposit and the housing market in the UK is currently crashing so interest is a lot lower. What kind of franchise are you looking to open? Some have a great deal of profitability but high start up costs so it depends on your funds.( I’m merely a forum dweller so you may not wanna take my financial advice but I thought I’d drop it anyway)

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

I am currently based in the UK and have been working full-time for the past 8 years. Although I have saved most of my income during this period, I regret not investing in stocks and shares earlier in my career.

However, in 2019, I began investing in the stock market by opening a stock ISA with Vanguard. Additionally, I opened a pension pot with my employer and contributed 10% of my income, which my employer matched and goes straight into my pension fund.

Furthermore, I also opened a help-to-buy account, which is a scheme aimed at assisting first-time house buyers to save for a deposit. At present, I have saved enough money to make a deposit for a house. However, I don't have a partner or anyone to live with, and I am not keen on moving out of my family home.

Therefore, I am still contemplating whether buying a house is the right decision.

My family thinks I should purchase a house, but I am not entirely convinced yet. Instead, I am considering letting my help-to-buy account keep growing while I use my cash savings to invest in a franchise that could potentially yield profits.

Moreover, I am currently working on getting my driving licence since many of the franchises that I plan to explore require you to have a car.


Should I purchase a home or wait and invest in franchise ?

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