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!
Doesnt anyone buy a property as a home anymore?
Comments
-
I do intend to buy another few houses over the next several years, probably to rent out. Again, whats the problem with that?
Why do you want to buy " a few" houses?...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: »Why do you want to buy " a few" houses?
Why not? I will be renting them out initially.0 -
I bought my house to live in, then my parents moved to a much bigger house and said I could stay with them (happened same time as I bought my house) so I rented out my place and moved into theirs. Can't really see what the problem is? I do intend to buy another few houses over the next several years, probably to rent out. Again, whats the problem with that?
The problem with that is, as this thread discusses, that houses should be a home not an investment. By buying up several and renting them out, you are depriving other buyers of the opportunity to buy each property and make it a permanent family home, not a money-making machine.
That's why some people object.0 -
The problem with that is, as this thread discusses, that houses should be a home not an investment. By buying up several and renting them out, you are depriving other buyers of the opportunity to buy each property and make it a permanent family home, not a money-making machine.
That's why some people object.
However, a good landlord gives people the opportunity to establish their homes and careers without making the commitment to one place that property purchase involves. Back in the 1980s I was deeply frustrated that I could not find suitable places to rent, at a time when buying somewhere was not appropriate for me.0 -
The problem with that is, as this thread discusses, that houses should be a home not an investment. By buying up several and renting them out, you are depriving other buyers of the opportunity to buy each property and make it a permanent family home, not a money-making machine.
That's why some people object.
Ah, with ya. Yep I suppose that does make sense. I do also want to be able to help my kids with their first property too, hence buying in the near future for when they are much older I'll be in a position to help them. Quite selfish when put like that, but thats how it is for me. I don't buy family homes, I buy run down houses (well, ok only 1 so far, but thats changing soon!) and put them right (most families I know wouldn't want to buy a project like that).
Then I rent it out, as the mortgage payments are lower so is my rent, because I bought it cheaper and used the money I saved up to do the work. The family home type houses, ready to move into don't appeal to me really. Admittedly I maybe lucky with my first house, as the area that is in they are still selling for around £100k. (as in sold last week for £97.5k) I'm still along way off losing out if I have to sell (for now anyways!)0 -
why not let your kids find their own way in life.????It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
geoffky - I've read some of your other posts. Rather than waste my time here, I'll bop about elsewhere and do it. No answer is ever going to be right for you.0
-
Voyager2002 wrote: »However, a good landlord gives people the opportunity to establish their homes and careers without making the commitment to one place that property purchase involves. Back in the 1980s I was deeply frustrated that I could not find suitable places to rent, at a time when buying somewhere was not appropriate for me.
Being a good landlord can provide a home for a family who, through no fault of their own, are not in a position to buy.
Tenants also have an entitlement to a decent family home.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
But, sadly, not all landlords are 'good landlords'. If they were, there would be less drive to buy. I think the laws relating to tenancy need to be changed urgently, so that good tenants ie ones who pay their rent on time, can have security of tenure, as they used to have in the past here, and as they do across Europe. A 'good' landlord ie one 'in it for the long term' would surely be happy to have good long-term tenants, and the families living there could set up home secure they weren't going to be turfed out any minute on a whim.
It seems grotesquely unfair that taxpayers - inc;uding renters shuld be asked to pay the mortgage costs for those who DON'T pay their mortgages for up to 2 years, whilst tenants who DO pay their rent can be chucked out with only a month or two's notice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards