Would you buy now?

When_is_the_reset?

garbaldisham wrote: »

I'd take issue with "easily". If your house is in decent enough nick when you buy it, and you insure it properly, then the stuff that really hits your pocket directly swings in once in a blue moon. In the nearly 20 years we've owned houses and flats, the only really major expense with which we've been landed was a replacement boiler: spread that cost over two decades and it's cost us about £150 a year extra. Perhaps we've just been really lucky, but I'd suspect many are in a similar situation.

LMAO :rotfl:

Anyone who thinks they can live in and maintain a house over a 25 year period for £150 a year is living on a different planet - or in 1960.

The buildings insurance alone will eat that - you don't have to pay that as a tenant.

How many new carpets, kitchens, windows, roof repairs, decorating, accidental damage, garden maintenance, central heating or bathrooms?

Or are you suggesting that no-one changes any of these things over 25 years occupation? Your carpets must be in a right state.

You also don't mention the stamp duty and fees to buy the thing in the first place - dead money you will never get back. This puts you in a negative against renting for several years - add the maintanance costs and you may never be ahead.

Anyone who takes this kind of advice - without doing the real sums of the cost of ownership first - is crazy.

But, hey, it's your money.

Orpheo

garbaldisham wrote: »

I'd take issue with "easily". If your house is in decent enough nick when you buy it, and you insure it properly, then the stuff that really hits your pocket directly swings in once in a blue moon. In the nearly 20 years we've owned houses and flats, the only really major expense with which we've been landed was a replacement boiler: spread that cost over two decades and it's cost us about £150 a year extra. Perhaps we've just been really lucky, but I'd suspect many are in a similar situation.

£150 a year to maintain a house?

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Unless this is where you live...

When_is_the_reset?

Orpheo wrote: »

£150 a year to maintain a house?

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Unless this is where you live...

I would love to live there - it must be heaven.

Until the man comes for the daily voltage treatment.

Davesnave

I spend a lot of time on the 'other' board. Usually, when the pictures come out and the sneering starts, someone's feeling insecure.

When I rented last year, I felt very insecure. Now I own outright. The two experiences are very different. While I was very happy in my twenties, when I previously rented, as an older person I found it much more stressful.

Horses for courses. The differential between renting and owning probably isn't as wide as many may think, but if you can provide respectable links to show how owning leaves one worse off over a decent period - say 20 years - I'd like to see them.

garbaldisham

When_is_the_reset? wrote: »

LMAO :rotfl:

Anyone who thinks they can live in and maintain a house over a 25 year period for £150 a year is living on a different planet - or in 1960.

The buildings insurance alone will eat that - you don't have to pay that as a tenant.

Read what I wrote - I said "then the stuff that really hits your pocket directly swings in once in a blue moon." In this case a new boiler.

How many new carpets, kitchens, windows, roof repairs, decorating, accidental damage, garden maintenance, central heating or bathrooms?

I don't mean carpets, curtains, etc, which non-furnished rentals often have to supply themselves, and in many cases will want to change anyway. As for central heating, as mentioned earlier that's cost me £150 a year in actual capital outlay if averaged out. Of course there have been other expenses (storm damage) but they were covered by.. yep, insurance.

Accidental damage is also covered under my home insurance. And again, most private tenants need to get their own contents insurance (the LL covers the buildings.)

Or are you suggesting that no-one changes any of these things over 25 years occupation? Your carpets must be in a right state.

See above.

You also don't mention the stamp duty and fees to buy the thing in the first place - dead money you will never get back. This puts you in a negative against renting for several years - add the maintanance costs and you may never be ahead.

Anyone who takes this kind of advice - without doing the real sums of the cost of ownership first - is crazy.

But, hey, it's your money.

Stamp duty for the majority on here would be 1%, or even zilch if they're FTBs. And if you're seriously suggesting that maintenance costs will cost that much perhaps you need to get down off your own high horse. I think from there you have a better view of cloud cuckoo land than me.

Eric1

garbaldisham wrote: »

You sure about that? In my neck of the woods, like for like rental is more expensive by about £100 pcm at the moment.

I guess that depends on your deposit.
In my area, a 90% LTV mortgage would be about a third more expensive, a 75% one about the same.
Besides, the cheapest flats are not selling because their potential buyers have no savings.

Orpheo

Davesnave wrote: »

I spend a lot of time on the 'other' board. Usually, when the pictures come out and the sneering starts, someone's feeling insecure.

When I rented last year, I felt very insecure. Now I own outright. The two experiences are very different. While I was very happy in my twenties, when I previously rented, as an older person I found it much more stressful.

Horses for courses. The differential between renting and owning probably isn't as wide as many may think, but if you can provide respectable links to show how owning leaves one worse off over a decent period - say 20 years - I'd like to see them.

Sneering? Bite me. No sneering here. Claiming that maintaining a house costs £150 a year is just outright stupidity. Although, if mortgagees aren't aware of how much they're spending, it explains why so many people get ridiculously in debt. I have [STRIKE]owned my own propertys[/STRIKE] been a mortgagee for 15 years prior to selling my house and moving into rented and while, yes, my rent is currently £100 higher than what I was paying in mortgage, my total costs are quite reduced. No repairs, no plumbing bills, no costs for fixtures and fittings, no heating repairs or servicing costs, no buildings insurance (just contents insurance, which came to £46). Furthermore, the interest on my savings, while it has been significantly reduced to bail out the indebted, more than offsets the increased rent. While technically not living rent free, I consider myself to be as good as, the reductions in house prices in the city of Lincoln already this year have more than offset my annual cost of renting. This is further mitigated by the fact that for every £5k that drops off the price of a house it saves nearly £10k over the term of a 20 year mortgage.

Insecure? Nah. If my family loses its income tomorrow we can live at our curent standard of living for over 3 years, double that if we tighten our belts. We wouldn't need, nor would we be able, to go cap in hand to the state for benefits or to have our rent or mortgage interst paid. Furthermore we can up-sticks and move to find employment at the drop of a hat. OK my landlord could decide to give notice, I accept that, if he does I'll move somewhere else. The owner of the house next door has already tried to poach us as tennants. Right now it's the landlords that want security.

Pictures? 1000 words.

When_is_the_reset?

garbaldisham wrote: »

Read what I wrote - I said "then the stuff that really hits your pocket directly swings in once in a blue moon." In this case a new boiler.

I don't mean carpets, curtains, etc, which non-furnished rentals often have to supply themselves, and in many cases will want to change anyway. As for central heating, as mentioned earlier that's cost me £150 a year in actual capital outlay if averaged out. Of course there have been other expenses (storm damage) but they were covered by.. yep, insurance.

Accidental damage is also covered under my home insurance. And again, most private tenants need to get their own contents insurance (the LL covers the buildings.)

See above.

Stamp duty for the majority on here would be 1%, or even zilch if they're FTBs. And if you're seriously suggesting that maintenance costs will cost that much perhaps you need to get down off your own high horse. I think from there you have a better view of cloud cuckoo land than me.

A non-furnished tenant brings their own carpets? :rotfl:

Someone who doesn't change a bathroom or kitchen in 25 years :rotfl:

Someone who doesn't change worn out carpets in 25 years :rotfl:

Someone who doesn't decorate in 25 years :rotfl:

You are one serious money-saving expert - I salute you :T

But do not want to stand too close to you.

Orpheo

I'm not sure whether to buy now.

There are just so many properties to choose from.

Should I sacrifice a bit on location or size and go mortgage free?

Just when it seems like I see a house that I might really like, a better one plummets into our price range.

Yes, I'd like to buy a house again, but should I do it now or pay less in 6 months, 12 months, 10 years?

What to do? Oh my, what to do?

:A

Orpheo

When_is_the_reset? wrote: »

A non-furnished tenant brings their own carpets? :rotfl:

Someone who doesn't change a bathroom or kitchen in 25 years :rotfl:

Someone who doesn't change worn out carpets in 25 years :rotfl:

Someone who doesn't decorate in 25 years :rotfl:

You are one serious money-saving expert - I salute you :T

But do not want to stand too close to you.

First time buyers decide that garbaldisham's house is not right for them.



It wouldn't be funny if it weren't so often true. I've come away from viewing some houses and wished I had been thus attired.