If you would have asked that question 5 years or so ago, I’d have said property ladder every time.
However after selling our home last year, for a good profit may I add, we moved into a council property which was supposed to be a temporary thing, lucky for us it’s a great house in a quiet location and out of the 40 houses in the street there’s only 6 left that are local authority homes, we are staying and no house would tempt us otherwise.
We were paying approx £600 a month when we had the mortgage, yes we could afford it, but the house we are in now is every bit as good and the neighbours and community are great, oh and we’re paying half, so we can save £300 per month in a high interest account if we wanted to, although we have decided against this, the profit we made from the house in tucked away in such an account and we are doing things with the extra money we couldn’t do before, think its called enjoying life rather than existing, couldn’t be happier at the moment, who says renting is dead money? It might be if renting from a private landlord but if your lucky enough to get a nice local authority house your quid’s in, after all, the rent you pay to the council is no more than the interest you will pay on a mortgage, with the added bonus of being able to tuck into your savings if something unexpected happens rather than resort to secured loans and more debt.
I personally wouldn’t recommend buying property to anyone unless the mortgage repayments were a 3rd or less of there monthly income.
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Mortgage or Rent?
Quote by creampie_couple
If you would have asked that question 5 years or so ago, I’d have said property ladder every time.
However after selling our home last year, for a good profit may I add, we moved into a council property which was supposed to be a temporary thing, lucky for us it’s a great house in a quiet location and out of the 40 houses in the street there’s only 6 left that are local authority homes, we are staying and no house would tempt us otherwise.
We were paying approx £600 a month when we had the mortgage, yes we could afford it, but the house we are in now is every bit as good and the neighbours and community are great, oh and we’re paying half, so we can save £300 per month in a high interest account if we wanted to, although we have decided against this, the profit we made from the house in tucked away in such an account and we are doing things with the extra money we couldn’t do before, think its called enjoying life rather than existing, couldn’t be happier at the moment, who says renting is dead money? It might be if renting from a private landlord but if your lucky enough to get a nice local authority house your quid’s in, after all, the rent you pay to the council is no more than the interest you will pay on a mortgage, with the added bonus of being able to tuck into your savings if something unexpected happens rather than resort to secured loans and more debt.
I personally wouldn’t recommend buying property to anyone unless the mortgage repayments were a 3rd or less of there monthly income.
:thumbup: my thoughts exactly! and common sense prevails, a brill post Creampie
Sex God
My parents bought their house when i was 10 (many years council deductions and a big compo payment allowed this) now however they want to move but wont get the money needed from the sale of their house to buy a house they really want in a area they really want - and neither of them want to take on another morgage, nor do they want to take on a house that needs modernising as the both work full time now and have a young child and dont have the time or energy for it - they have decided to rent a house after 15 years of being home owners
i am in coucil rented property in years to come i may decide to buy or i may not
i am in coucil rented property in years to come i may decide to buy or i may not
Quote by
The simple fact is that rent is paid for ever and you get nothing. A mortgage does at least have an end, and you have something, true you do have to maintain it...
In the long run, when you have finished paying for the house you are better-off.
Travis
Until you're forced to sell up to fund your nursing home place
I rent and I'm a lot happier and better off. Ok, the house will never be mine but I'll always have that roof over my head. I have pretty much a free reign with improvements ( with approval of course ) and I don't have to pay out thousands if my roof tiles need replacing or I need a new boiler. I had my central heating serviced this morning, all paid for in my service charge and a whole lot cheaper than a private contract.
Quote by Sassy-Seren
The simple fact is that rent is paid for ever and you get nothing. A mortgage does at least have an end, and you have something, true you do have to maintain it...
In the long run, when you have finished paying for the house you are better-off.
Travis
Until you're forced to sell up to fund your nursing home place
I rent and I'm a lot happier and better off. Ok, the house will never be mine but I'll always have that roof over my head. I have pretty much a free reign with improvements ( with approval of course ) and I don't have to pay out thousands if my roof tiles need replacing or I need a new boiler. I had my central heating serviced this morning, all paid for in my service charge and a whole lot cheaper than a private contract.
Never a truer word has been said... I know of a couple who (rightly or wrongly I'm not saying either way) has decided they won't give a penny towards their keep when they're older. They've sold up and are travelling around the world living and spending every penny they have.
Their philosophy? they've paid their taxes they've paid their dues, they'll enjoy it now and have the state cover their care costs in later life, if need be.
Orgasminator
Quote by creampie_couple
If you would have asked that question 5 years or so ago, I’d have said property ladder every time.
However after selling our home last year, for a good profit may I add, we moved into a council property which was supposed to be a temporary thing, lucky for us it’s a great house in a quiet location and out of the 40 houses in the street there’s only 6 left that are local authority homes, we are staying and no house would tempt us otherwise.
We were paying approx £600 a month when we had the mortgage, yes we could afford it, but the house we are in now is every bit as good and the neighbours and community are great, oh and we’re paying half, so we can save £300 per month in a high interest account if we wanted to, although we have decided against this, the profit we made from the house in tucked away in such an account and we are doing things with the extra money we couldn’t do before, think its called enjoying life rather than existing, couldn’t be happier at the moment, who says renting is dead money? It might be if renting from a private landlord but if your lucky enough to get a nice local authority house your quid’s in, after all, the rent you pay to the council is no more than the interest you will pay on a mortgage, with the added bonus of being able to tuck into your savings if something unexpected happens rather than resort to secured loans and more debt.
I personally wouldn’t recommend buying property to anyone unless the mortgage repayments were a 3rd or less of there monthly income.
Well unfortunately my rent is £600pm for a 1 bed masionette, my mortgage would only be a bit more so for me renting is like just giving my money to someone else to pay for their retirement.
I brought my first property when i was 19 but at the moment it looks like i will be a first time buyer again, no hope of that in the current climate.
I will buy again not sure how but i will do it.
Quote by Sassy-Seren
The simple fact is that rent is paid for ever and you get nothing. A mortgage does at least have an end, and you have something, true you do have to maintain it...
In the long run, when you have finished paying for the house you are better-off.
Travis
Until you're forced to sell up to fund your nursing home place
...By then I will have a 18 year old tucked up in the house, so the government can not steal it.
Come to think of it, the 18 year old is probable why I need nursing.
Quote by jaymar
The simple fact is that rent is paid for ever and you get nothing. A mortgage does at least have an end, and you have something, true you do have to maintain it...
In the long run, when you have finished paying for the house you are better-off.
Travis
Until you're forced to sell up to fund your nursing home place
I rent and I'm a lot happier and better off. Ok, the house will never be mine but I'll always have that roof over my head. I have pretty much a free reign with improvements ( with approval of course ) and I don't have to pay out thousands if my roof tiles need replacing or I need a new boiler. I had my central heating serviced this morning, all paid for in my service charge and a whole lot cheaper than a private contract.
Never a truer word has been said... I know of a couple who (rightly or wrongly I'm not saying either way) has decided they won't give a penny towards their keep when they're older. They've sold up and are travelling around the world living and spending every penny they have.
Their philosophy? they've paid their taxes they've paid their dues, they'll enjoy it now and have the state cover their care costs in later life, if need be.
Good for them I say! :thumbup:
For me it is a no-brainer...I simply can't afford to buy, nor would anyone in their right mind give me a Mortgage!!
The problem with Renting, as other's have said, is that you pay and pay into it but you don't get anything in return...also, nothing is forever, sooner or later they will need you to move out and find somewhere else.
But right now I have no choice!!
The problem with Renting, as other's have said, is that you pay and pay into it but you don't get anything in return...also, nothing is forever, sooner or later they will need you to move out and find somewhere else.
But right now I have no choice!!
Sex God
I'm going to buy a painted wagon and a horse and go back to my Romany roots and wander from place to place.......stopping here and there eating berries and drinking pure spring water....now where did I put that Ray Mears DVD
Sex God
Quote by firelizard
I'm going to buy a painted wagon and a horse and go back to my Romany roots and wander from place to place.......stopping here and there eating berries and drinking pure spring water....now where did I put that Ray Mears DVD
ohh that sounds lovely Fire......can I come with you please?
Sex God
Quote by poshkate
I'm going to buy a painted wagon and a horse and go back to my Romany roots and wander from place to place.......stopping here and there eating berries and drinking pure spring water....now where did I put that Ray Mears DVD
ohh that sounds lovely Fire......can I come with you please?
Like you have to ask
Sex God
Quote by poshkate
I'm going to buy a painted wagon and a horse and go back to my Romany roots and wander from place to place.......stopping here and there eating berries and drinking pure spring water....now where did I put that Ray Mears DVD
ohh that sounds lovely Fire......can I come with you please?
little old me wants to come to
can i can i pleeeeaaaaaase :bounce:
Sex God
Quote by X_fanny_x
I'm going to buy a painted wagon and a horse and go back to my Romany roots and wander from place to place.......stopping here and there eating berries and drinking pure spring water....now where did I put that Ray Mears DVD
ohh that sounds lovely Fire......can I come with you please?
little old me wants to come to
can i can i pleeeeaaaaaase :bounce:
I'll have to get a bigger wagon if this keeps up :giggle:
Sex God
Quote by firelizard
little old me wants to come to
can i can i pleeeeaaaaaase :bounce:
I'll have to get a bigger wagon if this keeps up :giggle:
il just sit on ya knee
Sex God
Quote by firelizard
I'm going to buy a painted wagon and a horse and go back to my Romany roots and wander from place to place.......stopping here and there eating berries and drinking pure spring water....now where did I put that Ray Mears DVD
ohh that sounds lovely Fire......can I come with you please?
little old me wants to come to
can i can i pleeeeaaaaaase :bounce:
I'll have to get a bigger wagon if this keeps up :giggle:
woo hoo :bounce: Lets get a great big wagon and have an SH girly tour of the UK :) :bounce:
Sex God
Quote by H-x
Can me and Emma come?
H.x
Well I'm only second in command.......but it's a big yes from me and I'm sure that Captain Fire would love to have you on board
:bounce: Sex God
Quote by H-x
Oh dear God, is Captain Fire navigating?
H.x
Nooo don't worry.....she's Captain but I'll do the navigating :lol2: so as long as you don't mind being navigated to the nearest pub you'll be fine
:giggle: another plus with renting is that you can get thousands in debt and it takes alot for the landlord to evict you ( especially if it council or RSL )
Just look at the story the other day about them that won all that money on scratch card, they owed about 12 thousand punds in rent and they still havnt been evicted.....
would a mortgage lender be so kind
Just look at the story the other day about them that won all that money on scratch card, they owed about 12 thousand punds in rent and they still havnt been evicted.....
would a mortgage lender be so kind
Quote by TabbynTina
another plus with renting is that you can get thousands in debt and it takes alot for the landlord to evict you ( especially if it council or RSL )
Just look at the story the other day about them that won all that money on scratch card, they owed about 12 thousand punds in rent and they still havnt been evicted.....
would a mortgage lender be so kind
hmmm having worked in a legal department before I would say that's a very very rare case. I'd rather not take the risk in rent arrears the same as mortgage arrears.
No home is safe unless you pay to live there.
