PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.landlord bashing
Comments
-
£750/mo is £9k/year. Less the service charge/ground rent is £8,100. For a £135k property, that's about a 6% yield - right up there at the top-end.
90% mortgage (£120k) is £540/mo, plus that service charge/ground rent - £75/mo - so that's £615/mo for the flat that your neighbour was paying £660/mo for.
And in reality the RMove fantasy rental price is usually undercut by a lot when landlords attract long term tenants, even in London.0 -
Red-Squirrel wrote: »You also seem to be comparing a purchaser in 2015 with a renter in 2010.Red-Squirrel wrote: »Personally I think all rented housing should be council or HA owned
Even the high-end/corporate rental market?
Somewhere like http://www.rightmove.co.uk/property-to-rent/property-65241611.html ?
Even those who can afford to pay more for a better property, but don't want to own for whatever reason?
Somewhere like http://www.rightmove.co.uk/property-to-rent/property-47209620.html ?
Where do you draw the line between holiday rentals? I rented what's normally a holiday cottage for four months over winter a few years back.0 -
-
My bad. I somehow read £660 when you moved out in 2015, but advertised for £750 now...
I'll let you off. I have no idea what the various inbetween stages were! Just wanted to point out that even with maintenance etc. its possible for buying to be cheaper than renting. Its certainly worked out much better for me than renting would have, and I hate to think of others not able to have the choice because they didn't have my sheer good luck (and good judgement in picking sensible properties perhaps, but won't blow my own trumpet too much on that one. )0 -
Crashy_Time wrote: »I`m bright enough never to have paid 750 p.m for a 60k flat and bright enough not to believe what people who fear a price correction make up about rents :cool:
:rotfl:
I sense I may be wasting my time, but maybe read it again because you've got all the numbers completely wrong. Did you just glance at the post and put them in whatever order that you fancied?0 -
Red-Squirrel wrote: »Just wanted to point out that even with maintenance etc. its possible for buying to be cheaper than renting.
But not half the price, as was claimed.
And, even then, that ignores all the other costs a landlord incurs.0 -
ALL...?
Even the high-end/corporate rental market?
Somewhere like http://www.rightmove.co.uk/property-to-rent/property-65241611.html ?
Even those who can afford to pay more for a better property, but don't want to own for whatever reason?
Somewhere like http://www.rightmove.co.uk/property-to-rent/property-47209620.html ?
Where do you draw the line between holiday rentals? I rented what's normally a holiday cottage for four months over winter a few years back.
I don't know, that's homework, I'll have to think about it!
Certainly all housing that is intended to be permanent, full time residences though, yes.0 -
Red-Squirrel wrote: »I sense I may be wasting my time, but maybe read it again because you've got all the numbers completely wrong. Did you just glance at the post and put them in whatever order that you fancied?
Best solution is if you just post a link to the flats and let people have a look?0 -
Crashy_Time wrote: »Best solution is if you just post a link to the flats and let people have a look?
:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:0 -
Red-Squirrel wrote: »In the building where I used to live, I paid less than £250 a month for a flat purchased for around £80,000. The year I moved in, the identical flat next door was rented out for £600pm. I've since moved out but I just checked on Rightmove and those flats are now going for £750pm. If I still lived there I'd have remortgaged and probably be paying even less than that £250, as well as having gained a lot of equity from the rise in value.
Even when buying isn't instantly cheaper than renting, it usually is in the long term.
Lots to think about.0
This discussion has been closed.
Categories
- All Categories
- 343K Banking & Borrowing
- 250K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards