rent/buy?

rent/buy?

anybody on here rent a house/flat?

waste of money that could be spent on morgage?

and who would you reccomend going through?

cheers

cheers, im toying with the idea of rentiny a place as i dont really want to be tied down with a morgage like

who would you say is the best agents to go through?

It depends where you live though Brid. Maybe in London and it's suburbs the mortgage would be alot more than rent but up here it's not much different. I'd much rather be paying something off that one day will be paid for outright. If you continue renting you'll have to do so when you're retired, which will eat up most of your pension. I'd also want to leave some kind of inheritance for my kids.

Maybe a house value could go down over a few year but over long term it will always go up in value.

renting gets you nowhere its money which will never truely be yours in the long run, the landlord could kick you out whenever they want too and you cant say a thing

it would only be like a first place, moving in with a mate so i think renting would be the best way incase 1 of us decided 2 go back home, move with girlfriends etc...


just wanted to see what other peoples opinions were on this...

that graph isnt that good because everything goes up in value in accordance to inflation (cans of coke were 35p when i was at school 10 years ago, now theyre 55p)...

And you also get paid more because of it...aslong as you're income is going up by more than the rate of inflation then you're earning more (relatively) more, if it isnt then you arent.

Inflation has doubled since 2006...now around 4.2% and if that goes down, interest rates go up and houses keep going up then theres going to be a lot of fucked people.

There isnt really any proof either way if buying a house is a good idea or not because noone knows what is round the corner. Your main aim would be to just find somewhere you like, that you can afford, is structually sound and in a suitable area because at the end of the day youll have to buy a house one day (unless you are Forks )

a lease?

I rent...for not that much at all! I have friends paying the interest only on their bought houses as it all costs too much!

Saying that i'm itching to get on the property ladder, i want something to call my own and have nothing to pay when i'm older! Not that its going to happen at the moment.....i'm only on a 12month contract and the other half is getting made redundant in June.... Is there ever a right time to buy??

Haha, thanks for the advice Mark Guess the wait is STILL on for us then!! lol

I did buy a house and it was the only thing I ever did that ever made me any serious money. If I was still renting I'd be totally without any assets at all. Its true that IF you saved the difference between rent and mortgage you'd have x pounds in the bank but you don't. you spend it if you have it and end up skint.
I was lucky and bought when prices had gone down and sold when they were high (I'd like to think that was due to me being clever but it was just luck) but I did buy ruins and bust a gut doing them up. It has left me in the position of owning my own house and not having to pay rent or mortgage. that will never happen if you rent.

That's my point though, you arnt going to lose money aslong as it keeps going up, even if it's in line with inflation. The mortgage you take out will stay the same for 25 years (give or take a few quid if you're on a variable rate). Inflation goes up and your pay goes up but your mortgage stays the same.
If you're renting do you really think the rent you pay now is going to be the same in 10 year to 20 years time?

this is sooooo wrong.
everything is down to supply and demand. there are around the same amounts of shoes and clothes as there always were so their prices have remained roughly the same as the gold of which you speak but land is a finite resource and the population of the UK doubled in the past 100 years.
add to that the increased number of single households and it's easy to see why house prices have gone up. There are more people chasing houses than ther are houses being built so the price goes up. elementary economics.

with planning and land use so tightly controlled and councils no longer able to build cheap homes for the poor folks ( another home goal from your heroine Thatcher ) the price of houses cannot help but rise.
They may go up and down temporarily but in the long run it's a one way bet that the value of your house will increase.

And where you get your idea that we don't have the standard of living that our parents had is bonkers. We are the richest generation ever in the uk.
every year GDP goes up. we all have things that our parents could only dream of. The past 10 years have been some of the best for a lifetime and during your parents and grandparents lives inflation was often out of control.
between 1974 and 1981 for instance inflation averaged 10% a year and from 1988 to 98 it increased by 52%

I'm glad I don't have you as my economic advisor

Apart from houses, what else has tripled in price?