Soldato
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- 24 Apr 2006
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- SE England
29 - I still live with my parents. Depressing after reading this thread.
Poll: Poll - Renting or mortgage
- Thread starter NotAGolf
- Start date
Soldato
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- On the forest moon Endor
39 with mortgage which should "hopefully" be paid off within the next 5 years allowing me to work part time 
24, renting and not really looking for a mortgage at this stage. Moving back to Aus soon and then want to save to move and live in Canada for 6months or a year and then hopefully North America depending on if I have finished studying by then
Soldato
- Joined
- 23 Oct 2002
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- 3,177
bought 2nd house last december but i put down 35% deposit from sale of previous house.
i was mainly just showing how bad it is for renters. one of my mates and family pay 200/mth more than me to live in a 3 bed terrace in a ****** area. i guess buying pays in more than 1 way. you get to own (eventually) and pay less in the mean time.
there's no option for both 
I suppose I technically own the house my ex lives in and I rent the place I live in now, I'm 34.
As an observation, there's a lot of talk as there always is about renting being a waste of money, buy a house blah blah especially from a couple of, frankly, kids.. there is another side to this.
In the last 2 years I've rented 5 houses, I've moved from southampton, to poole, to bournemouth then with a months notice to woking for work and until recently I was toying with the idea of moving to either salisbury, back to bournemouth, into london or staying put. A prospective new employer got to have a say in where I lived and I have the flexibility to let my dream job dictate where I live without massive upheaval.
I'm moving in about 7 weeks, not entirely sure where to but it'll be fun, I can upsize and downsize as I see fit, if something breaks it gets fixed, if the roof leaks well chin up, it's not my problem, got subsidence? I couldn't care less.. etc etc, I had some people move in next to me who for some reason love making phone calls at 6am and wake me up. Rather than get into some huge argument about it I'm just moving! Its quite an adventure!
Plus, my last experience of owning a house wasn't all that great, I had an entirely sensible 70% mortgage through northern rock, then the world went **** up and they pretty much closed for business after doubling the interest rate, we were in a credit crunch, the banks had all given up doing any kind of business so I was stuffed, couldn't move the mortgage, could afford it but only just etc etc and the equity pretty much vanished.
The "profit" you make is rarely realised in any material way, my first flat cost £40k, sold it for £130k, bought a house for £200k, sold it for £250k. The house I bought for £200k was £65k when I bought the flat for £40k... so where't the profit? I'd call that inflation more likely. I wonder how some of these kids who are bleating about mortgages at 24 will feel when the interest rates start shooting up again which they will at some point, it's just a matter of time you can use history to prove that point.
Plus what about when you want to change jobs, change lifestyle but you're imprisoned by the bricks you've bought which you can never get any value out of in real terms because you need somewhere to live until you die at which point you're dead?
The only time a mortgage makes sense to me is when you've paid it off which many won't do until they're almost dead.
However, it's just one persons view from both sides of the fence!
I like renting, and I'm not "wrong" it's a choice and you can't be wrong with one of those if you're happy with it!
I suppose I technically own the house my ex lives in and I rent the place I live in now, I'm 34.
As an observation, there's a lot of talk as there always is about renting being a waste of money, buy a house blah blah especially from a couple of, frankly, kids.. there is another side to this.
In the last 2 years I've rented 5 houses, I've moved from southampton, to poole, to bournemouth then with a months notice to woking for work and until recently I was toying with the idea of moving to either salisbury, back to bournemouth, into london or staying put. A prospective new employer got to have a say in where I lived and I have the flexibility to let my dream job dictate where I live without massive upheaval.
I'm moving in about 7 weeks, not entirely sure where to but it'll be fun, I can upsize and downsize as I see fit, if something breaks it gets fixed, if the roof leaks well chin up, it's not my problem, got subsidence? I couldn't care less.. etc etc, I had some people move in next to me who for some reason love making phone calls at 6am and wake me up. Rather than get into some huge argument about it I'm just moving! Its quite an adventure!
Plus, my last experience of owning a house wasn't all that great, I had an entirely sensible 70% mortgage through northern rock, then the world went **** up and they pretty much closed for business after doubling the interest rate, we were in a credit crunch, the banks had all given up doing any kind of business so I was stuffed, couldn't move the mortgage, could afford it but only just etc etc and the equity pretty much vanished.
The "profit" you make is rarely realised in any material way, my first flat cost £40k, sold it for £130k, bought a house for £200k, sold it for £250k. The house I bought for £200k was £65k when I bought the flat for £40k... so where't the profit? I'd call that inflation more likely. I wonder how some of these kids who are bleating about mortgages at 24 will feel when the interest rates start shooting up again which they will at some point, it's just a matter of time you can use history to prove that point.
Plus what about when you want to change jobs, change lifestyle but you're imprisoned by the bricks you've bought which you can never get any value out of in real terms because you need somewhere to live until you die at which point you're dead?
The only time a mortgage makes sense to me is when you've paid it off which many won't do until they're almost dead.
However, it's just one persons view from both sides of the fence!
I like renting, and I'm not "wrong" it's a choice and you can't be wrong with one of those if you're happy with it!
I'm not saying otherwise, my point was that I live in Zone 2 London and pay a fair bit under 1.6k for a mortage. If I was to rent the house next door, then it would cost me considerably more per month.
Soldato
- Joined
- 28 Nov 2008
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- UK
Renting a two bedroom plane in a great area in NW3 would have cost me £1600-2000 a month. Instead, my mortgage is costing £1000 (for the next three years, anyway)
Associate
- Joined
- 16 Jan 2012
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23 - Me and my Girlfriend both live with our parents. I have a twin brother who rents and he’s not even been there for 1 year and wants a place to call his. They both struggle to get money for a deposit.
I am fortunate to have all of my grandparents with me; I also live on £100 rent for my mother. With having a pay raise after my apprenticeship (double) I have had the chance to buy things I never could afford. My girlfriend is training to be a nurse at Uni and we are looking to get a deposit saved for next year when she finishes.
I am currently coming to the end of my contract and looking for a stable job. I have a Interview on Tuesday and if I do get this then I wont loose out on my wage I am on now and it’s a permanent contract. As soon as I find out If I have the job (fingers crossed) then we start saving as soon as we know.
EDIT: also I drive to Newcastle every Monday doing a course in AutoCAD (grandparent was happy enough to pay the fees, just because I am still in education and looking at my future) This will help get me started on a better wage, also I love using the software ha-ha
I am fortunate to have all of my grandparents with me; I also live on £100 rent for my mother. With having a pay raise after my apprenticeship (double) I have had the chance to buy things I never could afford. My girlfriend is training to be a nurse at Uni and we are looking to get a deposit saved for next year when she finishes.
I am currently coming to the end of my contract and looking for a stable job. I have a Interview on Tuesday and if I do get this then I wont loose out on my wage I am on now and it’s a permanent contract. As soon as I find out If I have the job (fingers crossed) then we start saving as soon as we know.
EDIT: also I drive to Newcastle every Monday doing a course in AutoCAD (grandparent was happy enough to pay the fees, just because I am still in education and looking at my future) This will help get me started on a better wage, also I love using the software ha-ha
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