"Rent money is dead money"

chucky

beingjdc wrote: »

I am £75,000 richer than I would be if I'd bought this flat on the day I chose to rent it instead.

To put that in context, it's more than I would have made if I'd done my job again, tax-free, as a nightshift for those two years.

richer - isn't this the same twisted logic that HPI people used to use when property was increasing in value.

thi is still even more subjective as you do not know if the owner the of the rented flat will sell. for a home owner saying it they would be in a better position as they actually own the property.

chucky

Cleaver wrote: »

Reading this thread anyone would think that renting had it's pros and cons and suited some, whilst buying also has its pros and cons and suited others - who knew there was a right and wrong side to it? I stand corrected and informed.

It would appear quite difficult to reach a cessation, but I'm of the opinion that you guys are making real progress with all these insults, pointless comments and blind opinion that your stance is the only correct one and I reckon you will come to a successful and insightful conclusion on the age old "Buy vs Rent" debate by around 6pm tonight.

In the mean time I'm going to contact The Economist and see if they are interested in purchasing this thread for their next edition.

it's horses for courses. at different times of peoples lives and economic circumstances either renting or buying will suit.

POSSETTE

think id prefer to pay mortgage for 25 years than rent for possible 50+ years..??
do people in council rentals have to keep paying rent when they have retired? i know i wont be as i will own house outright.

Broken_hearted

yes they do

punkstoner

POSSETTE wrote: »

think id prefer to pay mortgage for 25 years than rent for possible 50+ years..??
do people in council rentals have to keep paying rent when they have retired? i know i wont be as i will own house outright.

you hope..................................

1sue23

punkstoner wrote: »

That does not make sense. Ever heard of charging orders???

Ever heard of old people having to sell up to pay for a care home place???

Owning does NOT make you secure for ever. Owned property or not, ones life can change in a heartbeat. Literally.

Owning my home has made me very secure,and is allowing me to finance a very nice lifestyle and retirement at the age of 50 that would not have happened if I had been renting for 10 years ,which is how long it took to pay off my mortgage,

punkstoner

1sue23 wrote: »

Owning my home has made me very secure,and is allowing me to finance a very nice lifestyle and retirement at the age of 50 that would not have happened if I had been renting for 10 years ,which is how long it took to pay off my mortgage,

great for you. I hope your 'lifestyle' continues.......

Cleaver

punkstoner wrote: »

great for you. I hope your 'lifestyle' continues.......

Why do you sound so bitter?

PasturesNew

SingleSue wrote: »

By the way, she doesn't boast, she just gives information about her life the same as everyone here.

She is also a very lovely lady.

What Sue said....

beingjdc

chucky wrote: »

richer - isn't this the same twisted logic that HPI people used to use when property was increasing in value.

It's not twisted logic - those people really were richer. They chose not to realise their gains, and are becoming poorer again, but they still were richer.

If there's an annoying phrase that I find more frequently used by the self-deluded investor than "dead money", it's "paper loss"