not sure about a burden I went from nothing to a 44k semi in Yorkshire , paid mortgage in 9 years ,that house paid for this house on its sale ,so went from nothing to 300k plus owned outright in the time on this forum
Who doesn't own a property?
- Thread starter SideWinder
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I think you should probably make this your signature at this point.
Have you been there for a while where your landlord might not have wanted to increase the rent.
It's certainly unusual to find it that way around. Identical house to ours a few doors down has just had a let agreed for 50% more than our mortgage, infact it's equal with our 50% overpayment.
And could you do that today? No.
Caporegime
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Not a chance in hell
I will keep renting. Owning a house when you don't want kids seems daft, what will happen to the house?
But you can't spend that 300k.
Usually gets sold for your care home services
That said by renting i understand your getting a service ie a house or apartment to live in to a standard. But you are paying someone else who owns it and at some point they will want to 'retire' and can pull the rug from under your feet. (Selling up).
You'd then be left chasing the next property and likelihood is paying more. At least if you decided to sell your own property generally it goes up in price.
Its not so much being left with a pointless house but being able to afford to live in your older years. Most pensions are based on an income which doesn't need to cover a mortgage / rent so you'll need to ensure you pay enough in to cover that extra monthly cost.
Annoying thing is that rent is usually more expensive than a mortgage so its not like renters can save more to put in the pension pot.
Ignore he is a troll
Soldato
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You could always give it to the Lifeboat people.
Most sane thing to do would be to sell it to fund care when you need it. I'd your not having kids you will need to pay for it I assume as no one will be around to look after you?
Soldato
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TBF that one post was pointing out that while he may have "made 250k", it's still all tied up in the house just like when it was worth 44k.
My journey has being pretty much played out on these forums including posting my 44k purchase in Yorkshire and doing up this one ,cant spend the house value no but then again mortgage free and no rent .
At the end of the day i bought as it was cheaper than renting
Nearly tied up but not quite as i have room in the garden for another property ,thats what my neighbour did ,not sure i would do this but Airbnb potential
Who needs looking after?
Oh joy, spending your life work on having your arse wiped while in care. I'd like the option to sign something now that states if I ever need long term care to shoot me at the entrance.
Councils look at that sort of stuff now, if they think the house ownership has been moved to avoid paying care costs then they will go after it.
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