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Debate House Prices
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Why can't I make letting profitable? Is it all worth it?
Comments
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Radio 5 just did a piece where the co-presenter was plugging tonight's show on BBC1 or BBC2 "Property: The End of The Affair?"
He was explaining to the other presenter (woman - sounded like Victoria Derbyshire but probably wasn't) how they've found if you do the sums, renting makes a lot more sense for FTBs than buying... which was like really shocking. She couldn't get her head around that at first... immediate grinding cogs conclusion renting was a waste of valuable money and its like throwing it away.
He had to explain the 20% or even 40% deposit, and how still, historically, house prices are quite high (you don't say - because prices will go from one extreme to the other), and renting allows a lot more options, such as moving around the country for work reasons.
He also was talking about an increase in "speed renting" which may be part of tonight's show, where groups of landlords or home-owners wanting a lodger meet up with groups of prospective tenants at an agreed location to work out who they accept / thrash out a price.0 -
At the moment she has a junior doctor, a nurse and a teacher all of whom have been there for about a year and had never had a problem with any of them.
It's interesting to see that there are three persons in this one property who are short term lodging (short term in that I doubt they envisage lodging for the long term albeit already 1 year) that will at some point be looking to buy or rentsomewhere in the future.
I wonder how many people out there are waiting for the right time in their careers or house prices before making a move in the property market.
Sounds like your aunt is providing a good stepping stone until their time is right.
In regards to the OP's post, renting is a business and needs to be treated as one.
It is possible that properties could be the wrong type for the rental demographic and if everything is as they have said then they have made a poor choice.
They need to decide if they are to persevere if they can see things will be better or they need to consider selling and re-investing elsewhere.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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