Robbo
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Registered: 6th Aug 02
Location: London
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agreed col but my point was more that you dont have one mortgage in your life and its paid off after 25/30 years etc - as you move that will get extended naturally (unless you build up huge equity to get a smaller mortgage as you move etc)
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by Robbo
not in my personal situation as i woudl ahve lost thousands ! stamp duty, legal fees etc not to mention the loss of value plus the hassle of havign to sell it and chains etc
Your a nomad though Orbob, of course theres no point buying if your going to move hundreds of miles every other year!! Thats like buying a set of football boots when your a double amputee 
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Robbo
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Registered: 6th Aug 02
Location: London
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granted
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by Robbo
agreed col but my point was more that you dont have one mortgage in your life and its paid off after 25/30 years etc - as you move that will get extended naturally (unless you build up huge equity to get a smaller mortgage as you move etc)
Well I assume people only upsize if the equation balances. It would be madness otherwise
I lived in my 1st property for 5yrs & made a good bit on it, I expect i'll similar again here. Your example analyses the peaks & troughs of the worst economic meltdown since the great depression!! People who bought during this time if they sit it out will still come out of it on their feet.
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Ben G
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Registered: 12th Jan 07
Location: Essex
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a bit off topic but fuck it:
my cousin has just moved from a 1 bed flat into a 3 bed semi.
it's in dagenham which everyone around here knows is a shithole to live in
he also pays £950 a month rent. that's more than my mortgage which is £943.
then he has all his bills on top, and he has 2 kids.
please tell me in that example how renting is better than buying?
if you planned to move often then yes, renting is fantastic as it's a lot less aggro. but if you plan on staying somewhere for a few years + then buying is the much better choice imo.
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scoob
Premium Member
Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
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my mortgage is currently £250 i couldnt rent a shed for that
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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Renting has loads of perks over buying. Most important one in these times being the fact your home isn't at risk and should you be unfortunate enough to lose your job then the council pay your rent.
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Ben G
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Registered: 12th Jan 07
Location: Essex
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quote:
Originally posted by JonnyJ
I plan to live here till they die then BOOM free house.
good plan if your'e an only child
downsides to having 2 brothers and a sister and your parents have a very nice house
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jr
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Registered: 20th May 02
Location: Kent
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quote:
Originally posted by Ben G
a bit off topic but fuck it:
my cousin has just moved from a 1 bed flat into a 3 bed semi.
it's in dagenham which everyone around here knows is a shithole to live in
he also pays £950 a month rent. that's more than my mortgage which is £943.
then he has all his bills on top, and he has 2 kids.
please tell me in that example how renting is better than buying?
.
because he still didnt have the 10-20k deposit he'd require for a house to put him and his kids in, its all very well saying you morgage is cheaper but he can live in his house for a year and a half of what it cost you just to secure your propety and with kids etc i dont imagine it would be viable to move into a parents whilst saving that money
therefore makes perfect sense and proberly his only option
[Edited on 27-07-2010 by jr]
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Corsa_Joel
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Registered: 3rd May 07
Location: Dunstable, Bedfordshire
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Whats peoples thoughts on the shared ownership scheme? Im 20 and in full time work earning 24.5k, paying £280 rent to my Mum at home. Been strongly considering moving into a 1 bed new build under this scheme, heard a lot of pros and cons for it. Got a 10k deposit but could probably get that upto 15k in a year, which is roughly when i'd be looking to move.
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Not sure its been mentioned but something that would put me off renting apart from the the fact you could be given notice at any time and end up with 2 months to find somewhere new to live is the fact you cant really make it your own or do improvements. You're stuck with whatever layout, bathroom & kitchen is already installed.
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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quote:
Originally posted by Ben G
quote:
Originally posted by JonnyJ
I plan to live here till they die then BOOM free house.
good plan if your'e an only child
downsides to having 2 brothers and a sister and your parents have a very nice house
I have a brother but he will be due an accident around that time
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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I thought about the whole waiting for them to die thing but theres 5 of us to split the house between  bastards 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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quote:
Originally posted by Ben G
please tell me in that example how renting is better than buying?
Of course there are exceptions to every rule!
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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quote:
Originally posted by mwg
I thought about the whole waiting for them to die thing but theres 5 of us to split the house between bastards
Do you want me to take them out from a few counties back
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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You'd probably miss TBH
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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And hit you hopefully.
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John
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Registered: 30th Jun 03
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Renting is paying someone else's mortgage whether there are other benefits to it or not.
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