Halifax -1.7% MoM, 17.7% YoY, 22.6% down from peak.

whathavewedone

Renting is okay when you don't have children/many possessions. I rented from the age of 18 to 31 and it didn't bother me at all. In that time I moved every 9 months on average. By the time I got to 31 I had still only amassed enough possessions to fill a small van.

Renting is pants when you have young children and lots of possessions as potentially you could be moving every 6 months.

Little children, as a rule, like routine and familiarity and do not like being uprooted all the time. Not having your own place means that you can't decorate their rooms to make them their own safe comfy little place. You just have to bung their cots into a sterile box with magnolia walls.

The whole hoo ha of moving day with small children is pretty grim too.

Consequently for many people with children renting isn't an option they would consider unless they were forced to. For me I see it as something I did in my youth. I wouldn't want to do it again now. As an adult I want my own place that I can decorate as I choose - in other words a home - not a house that I'm renting from someone else which I can't even put pictures up in for fear of losing my deposit.

whathavewedone

RDB I didn't realise you were a property magnate with tons of cash in the bank.

A few months ago you were spitting with jealousy about the fact that I'm a SAHM when you apparently had to go back to work after maternity leave to pay the rent and bills.

Why don't you dip into your considerable savings and use it to enjoy some more time with your child? If prices are going to fall as much as you think you'll still have plenty left over to buy mortgage free by the sound of it

:rolleyes:


Some odd folk on here!

JayScottGreenspan

Dan: wrote: »

Renting? It sucks.....and everyone knows it.

http://news.bbc.co.uk/2/hi/business/8035363.stm

..the average UK property is now worth .. £33,264 less than a year ago.

:whistle:

mitchaa

torontoboy45 wrote: »

well, well .well. only 26 with 3 props and a grand plan....
I'm not quite sure what to think; young spiv chancing his arm or youthful entrepeneur making his way.

either way, I'm sure you're going to make a difference.

I am 26 with 1 property.

I was fortunate enough to buy a home that i will never need to upgrade as a FTB property (4bed detached in nice area) The mortgage itself is £1200pm but at the moment my overpayments equate to a further £3-400pm and the projection is showing that i will have this paid off in 15-16yrs, so aged 38 at best, 40 at the worst.

When i reach 40, what will i do with the £15-1600pm that i wont have to pay any further? My salary will have obviously increased in that time so the plan is to buy that 2nd property (As an investement towards my pension fund) throw 33% of my salary at it to get the max i can and start all over again with another 15yr plan. That takes me upto 55. What do i do with my salary between 55 and retirement age of 68? That's right, property number 3.

Perhaps a little ambitious but what is there to stop me? I am relatively young at 26, have a good income at around £5.5k pm, children already, im in a happy marriage and the home i have now is large enough for us for the rest of our lives. If i need a 5th bedroom, i can make my dining room into 1, or build an extension, there is no requirement for me ever needing to move. FSP should give me 40/60 of my final salary aswell so with all that together it should set me up for a good life when i am older. Like i said i have no qualms about continually throwing 33% of my salary into housing if its going to benefit my family and I in the long run. Others invest in stockmarkets, gold, bonds. I'll happily invest in housing over the long run.

Over and out on this 1 as im not about to take over this thread.

inspector_monkfish

mitchaa wrote: »

I am 26 with 1 property.

I was fortunate enough to buy a home that i will never need to upgrade as a FTB property (4bed detached in nice area) The mortgage itself is £1200pm but at the moment my overpayments to that equate to a further £3-400pm and the projection is showing that i will have this paid off in 15-16yrs, so aged 38 at best, 40 at the worst. (If i keep up with my 25-30% overpayments each month)

When i reach 40, what will i do with the £15-1600pm that i wont have to pay anymore? My salary would have obviously increased in that time but the plan is to buy that 2nd property (As an investement towards my pension fund) throw 33% of my salary at it to get the max i can and start all over again with another 15yr plan. That takes me upto 55. What do i do with my money between 55 and retirement age of 68? That's right, property number 3.

Perhaps a little ambitious but what is there to stop me? I am relatively young at 26, have a good income at around £5.5k pm, children already, im in a happy marriage and the home i have now is large enough for us for the rest of our lives. If i need a 5th bedroom, i can make my dining room into 1, or build an extension, there is no requirement for me ever needing to move. FSP should give me 40/60 of my final salary aswell so with all that together it should set me up for a good life when i am older. Like i said i have no qualms about continually throwing 33% of my salary into housing if its going to benefit my family and I in the long run. Others invest in stockmarkets, gold, bonds. I'll happily invest in housing over the long run.

Over and out on this 1 as im not about to take over this thread.

hey dude, its all sweetness and light in your little world isn't it :rotfl:;)
good for you buddy !

But, What if......

Your wife gets pregnant with sextuplets?
You get made redundant?
You become ill and are no longer able to work?
Your wife leaves you?
You win the Euromillions tomorrow night?

the_ash_and_the_oak

whathavewedone wrote: »

Renting is okay when you don't have children/many possessions. I rented from the age of 18 to 31 and it didn't bother me at all. In that time I moved every 9 months on average. By the time I got to 31 I had still only amassed enough possessions to fill a small van.

Renting is pants when you have young children and lots of possessions as potentially you could be moving every 6 months.

Little children, as a rule, like routine and familiarity and do not like being uprooted all the time. Not having your own place means that you can't decorate their rooms to make them their own safe comfy little place. You just have to bung their cots into a sterile box with magnolia walls.

The whole hoo ha of moving day with small children is pretty grim too.

Consequently for many people with children renting isn't an option they would consider unless they were forced to. For me I see it as something I did in my youth. I wouldn't want to do it again now. As an adult I want my own place that I can decorate as I choose - in other words a home - not a house that I'm renting from someone else which I can't even put pictures up in for fear of losing my deposit.

agree - don't feel we should be knocking buying as a lifestyle choice either fwiw.

looking at the various posts and this one in particular feel seems to be at least something of a consensus around flats=rent, houses=buy.

dervish

Dan: wrote: »

Renting? It sucks.....and everyone knows it.

There are times when renting is the RIGHT thing to do.

Like for the last 12 months for example...

mitchaa

inspector_monkfish wrote: »

hey dude, its all sweetness and light in your little world isn't it :rotfl:;)
good for you buddy !

But, What if......

Your wife gets pregnant with sextuplets?
You get made redundant?
You become ill and are no longer able to work?
Your wife leaves you?
You win the Euromillions tomorrow night?

Then the plan goes to rat sh*t but best not thinking like that;)

If i win the £120m tomorrow night though, i'll give each of the bears on this site a help towards their deposits. You can't get fairer than that;)

lostinrates

whathavewedone wrote: »

Renting is okay when you don't have children/many possessions. I rented from the age of 18 to 31 and it didn't bother me at all. In that time I moved every 9 months on average. By the time I got to 31 I had still only amassed enough possessions to fill a small van.

Renting is pants when you have young children and lots of possessions as potentially you could be moving every 6 months.

Little children, as a rule, like routine and familiarity and do not like being uprooted all the time. Not having your own place means that you can't decorate their rooms to make them their own safe comfy little place. You just have to bung their cots into a sterile box with magnolia walls.

The whole hoo ha of moving day with small children is pretty grim too.

Consequently for many people with children renting isn't an option they would consider unless they were forced to. For me I see it as something I did in my youth. I wouldn't want to do it again now. As an adult I want my own place that I can decorate as I choose - in other words a home - not a house that I'm renting from someone else which I can't even put pictures up in for fear of losing my deposit.

I really do agree with a lot of this. But I feel the answer, especially for those who are, as you describe ''forced'' to rent is a change to our standard tenancies. Making it a truer, easier choice

I have no problem with good landlords making money, and don't really understand why this is so annoying to many. Whether it should be taxed/governed differently is a different question, and in all probility their are things that should be addressed: but I'm not pretending to know the answers to that.

inspector_monkfish

mitchaa wrote: »

Then the plan goes to rat sh*t but best not thinking like that;)

If i win the £120m tomorrow night though, i'll give each of the bears on this site a help towards their deposits. You can't get fairer than that;)

fair do's....
just out of interest my friend, what industry are you employed in?