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Old 27.04.2020, 16:16
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Should I buy a home or invest? I just reached 200k in savings and they are sitting in

Hello, I really need some advice, from different prospectives, on what would be the best way to use my money?

First of all some informations:

-30 years old male
-single
-job in IT (management position, solid company and no foreseeable risk in losing my job)
-making 90k a year
-no debts
-no car (I move with the Train and I got a big scooter for when I need to move, if needed I borrow the car from parents)
-living in rented appartment

I live in Ticino and I have NO plans to move.
I'm confident I will always have/find a job in Ticino.

For that reason, I'm considering one of the following scenarios:

-Buy a house
-Invest heavily my money

I just reached with my last salary, I reached 200k CHF in savings.

Of those, 90% is sitting in my Bank Account and 10% is invested in Crypto.

In the last years I was so busy with life, making a career, that I just left the money there.

Now I want to do something with it and I m seeking advice!

First idea is, would it make sense to buy a house? I'm sure I'll always live in Ticino, currently I'm paying 2'000 CHF per month just to rent.
Even if in the future I switch work place, Ticino is fairly small that I can commute anywhere without issue.
I have the capital to put 20% for a 1million house.
And with the current Interest rates I would probably pay less monthly for the mortgage interests (if I buy a house, I plan to just amortize until only the first mortgage is left (67% of total house value), and then just pay interest for the rest of my life (tax benefits).
So this seems a good idea to me, especially because sooner or later I'll want to start a family and for sure I'll need a bigger place!

The other option is to keep renting and invest heavily all that money, but also here I'm clueless, what is my best option in this case? Would it make sense to invest over buying a property?



Thank you
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