renting or buying?

rose11

At the moment me and my boyfriend are living with my parents but are hoping to have our own house one day. I think we should buy a house and that renting is a waste of money with nothing to show for it, but my boyfriend although he would like to buy a house of our own, thinks renting is better. What does everyone think?

Millburn_farm

Rose you need to sit down and think seriously about some of the following

1) Where are you living; and how has this credit crunch affected house prices near you
2) How long have you been together?
3) How stable are both of you jobs/incomes?
4) How do the two of you discus money, i.e. what's important, do you want to save for that posh furniture or go to DFS tomorrow, and in 3 yrs, and again. (posh car or banger?? )
5) Do you really need to move from your parents at the moment? or would another year, saving as you wait; be more sensible, allowing you a bigger deposit and more money for that furniture without debt.


Remember the biggest single cause of couples splitting is arguements about money; many be seeing how you go whilst in rented accomodation for a few months would make more sense, at least then if you don't agree all you need to split is the last months rent; a house and a mortgage add pressure

I'm my husbands 3rd wife and his longest, and not having money troubles helps sooooo much, and I have to say that I'm married happily because I don't depend on him' oh and we are old banger, posh furniture people

tbs624

Millburn_farm wrote: »

I'm my husbands 3rd wife and his longest.........

So tell us, how long are you? Did he measure before or after marriage ?;)

Millburn_farm

5'10" :cheesy: and 11 yrs and still going :happyhear

2nd wife was 4'11" and 10 yrs

1st wife was/is 5'6" and 8 yrs

:rotfl:

tbs624

Rose - you don't say how old you both are?

Stay at home as long as you can (& as long as your parents can bear) and save. Buying at the moment is not a particularly good idea, although I note that you say "one day".

Rental gives you freedom to move around as and when jobs require, to get to know different areas of the country without tying your money up, freedom from worrying about paying for repair & maintenance bills, and its easier to sort things out if there are problems in your relationship further down the line.

rose11

Thanks for all your replies they were very helpful, I will show these to my boyfriend and have a talk about it. We argue alot about money, I'm good with money and he's not, I like to save it he likes to spend it lol. tbs624 I am 36 he's 40.

SquatNow

rose11 wrote: »

I am 36 he's 40.

You need to move out of your parents house!

Rent somewhere. Buying is dead money.

Renting will be better value for money until house prices have dropped 65%.

Imp

rose11 wrote: »

I am 36 he's 40.

You need to move out of your parents' house.

CHARDONNAY_3

I defo agree that by that age you need to be long gone from the parental home. Have you always lived there or was it temporary after divorce etc?

you should defo rent 1st, me & my bf have been renting for 2 years & I'm pleased we ironed out money troubles early on without a mortgage hanging over our heads!

geoffky

buying is too much of a gamble save and wait..and renting is not dead money

rose11

I have always lived with my parents because I've never earned enough to move out and now my boyfriend who moved in about 5 years ago, is doing training so we are short of money again at the moment. I deff want to move out and have my own place though, some people have said about getting on the housing list, but I'm not sure. What do you think are the diff pros and cons of renting and also buying?