We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
First Time Buyer - Aaarrrggghhh!!
Comments
-
neverdespairgirl wrote: »No, it's not. There are other factors in the basic economics, such as whether the couple can afford the mortgage quote]
That is the same if you rent! you have to budget for the future, you cant budget for handouts they could be removed at any time!
+ did you not say the other day you were going to buy when it was cheaper than renting in your area?0 -
justpurchased wrote: »Oh it must have been you:A the saviour.
Ouch!
"If buying is cheaper than renting in her area (belive it or not there are places in the UK) it is better to buy surley that is basic economics." - this looks like you're recommending buying?
Rental agreements are in no way as binding as a mortgage. I accept that you have pushed to clear the debt first, and to this point I say thanks...0 -
justpurchased wrote: »If buying is cheaper than renting in her area (belive it or not there are places in the UK) it is better to buy surley that is basic economics.
I feel this would usually apply however with falling house prices and the possibility of negative equity pretty quickly that is another very important factor to consider.
When we bought we were paying less in mortgage than rent would have been. But factor in buildings insurance every year, £1000 on a new garage roof, £500 on a new porch roof, £900 on a new conservatory door, £400 for a new kitchen ceiling etc etc (all in 3 years and none of them were expected) and suddenly it's not quite so cheap!
And now we'd quite like to move somewhere larger but would have to accept less than what we paid for this house and as we'd be renting not buying anywhere else we don't have the advantage of saving on the next purchase.
However the OP seems to have a very sensible approach. Also with no debt and a larger % deposit you'll get better mortgage deals meaning it'll cost you less in the long run. So good luck staciep88!0 -
Ouch!
"If buying is cheaper than renting in her area (belive it or not there are places in the UK) it is better to buy surley that is basic economics." - this looks like you're recommending buying?
Rental agreements are in no way as binding as a mortgage. I accept that you have pushed to clear the debt first, and to this point I say thanks...
Rental agreements are in no way as binding as a mortgage. I accept that you have pushed to clear the debt first, and to this point I say thanks...[/quote]
I could not recommend either but I would buy if it was cheaper than renting but that is me (but i am married with a child and debt free, except mortgage:(), but only if it was long term 10y+. People are right saying is it really big enough as the last thing you want to do is move is because a house is not big enough as you are at the mercy of the market at that time.
But if some one is determined to buy (which she sound like she was to start off with) it is better offer a + way to deal with the situation rather than a straight negative. Luckily she has got her head screwed on and is not going to make any decision until they are debt free in that case living free of mortgage and rent is best.:beer:0 -
justpurchased wrote: »I could not recommend either but I would buy if it was cheaper than renting but that is me (but i am married with a child and debt free, except mortgage:(), but only if it was long term 10y+. People are right saying is it really big enough as the last thing you want to do is move is because a house is not big enough as you are at the mercy of the market at that time.
But if some one is determined to buy (which she sound like she was to start off with) it is better offer a + way to deal with the situation rather than a straight negative. Luckily she has got her head screwed on and is not going to make any decision until they are debt free in that case living free of mortgage and rent is best.:beer:
It's been a great thread if you read through, as someone came in with a very certain idea (!!), discussed, and I think (hope) went away with another - MSE at it's best!!!0 -
-
justpurchased wrote: »neverdespairgirl wrote: »No, it's not. There are other factors in the basic economics, such as whether the couple can afford the mortgage quote]
That is the same if you rent! you have to budget for the future, you cant budget for handouts they could be removed at any time!
+ did you not say the other day you were going to buy when it was cheaper than renting in your area?
Yes, I did say that.
But I'm in a different position from the OP. I'm 31, OH is 30, we are both in professional jobs, earning a good income, have capital, no debt, and a 3 year old son....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »justpurchased wrote: »
Yes, I did say that.
But I'm in a different position from the OP. I'm 31, OH is 30, we are both in professional jobs, earning a good income, have capital, no debt, and a 3 year old son.
As said above if you read from the top of the thread we all have the same conclution.0 -
Lol at the cutlery set and dishwasher. I am lucky yes
Wymondham - yes you are right and I am glad that I started this thread. I have a clearer idea now. But yeah - going to get these debts out the way and then review the sitation next year.... but still leaves the question kids or mortgage first?.... Du Du Duuuuuuuuuuuuuuuu xXx0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards