I am about to move out of university and into a good graduate job this weekend. Excited to start and as a new base I have sorted out a rental property for my girlfriend and I.
For many years now I have wanted to build my first house however the harsh reality with finances means that I may have to rethink.
My question is this: Am I better to stay in the rental property for 3/4 years and save up for the self build costs or am i better getting out of rental as soon as possible in say 1 years time and putting a deposit on a smaller house?
Once I have put that deposit down all my savings will be gone and I will have to start saving again which will take longer to get the deposit required for a self build mortgage etc. If I had a house though, would this be more favourable with mortgage lenders and would I be able to release equity to fund the build sooner?
Any advice or experience appreciated as want to get building asap!