Would renting make you bitter?

movilogo

Renting is good as a temporary place of accommodation.

When you stay somewhere for few days, you stay in hotel.

Stay few months to few years max, and you look to rent.

Decide to settle down with family and you'll look forward to buy a house.

So for long term habitat, one has to buy a house. I don't see any point in renting.

Owning a property usually indicates a stability in life (not for those who take mortgage which they won't be able to afford if IR goes up by 1%).

the.ciscokid

Sibley wrote: »

I cannot really understand why some people are bitter about renting.

True, you could look at it that you are paying off somebodies mortgage and making them rich.

I personally don't feel like that at all. I'm lucky to see the story from both sides of the fence. I own a house and rent one of somebody else. I don't feel at all bitter and twisted when it's rent day.

Fair play to them. They had the brains and vision to buy the house and deserve a return.

I don't consider my landlord to be a scumbag or any of the other bad names used on here to describe the person providing a roof over tenants heads.

I think a lot of rents will have to rise soon. This will probably make the bitterness even worse.

I wish it would stop.

Hi,

Would you disclose your VI for the forum? Are you an estate agent for example, and business is a bit tight?

ash28

Rented for years before we bought - it never crossed our minds to buy in the beginning, just as well as we moved from Bedfordshire to the Isle of Man to the North East to the Middle East (no rent to pay there, it was free), back to the North East to Scotland to the South East. The rental that really sticks out in my mind was the one on the IoM, it was in Ramsey on Lezayre Road - a great big old house and we had the middle floor. We didn't know it was on the TT course until were woken up by the bikes practising at about 4.30 one morning....

We eventually bought in Scotland for no other reason than we wanted to be "rent free" when we were older, that and the fact a mortgage would take up less of our disposable income as time went on, it was about 10 years before the mortgage took up less of our disposable income - lots of interest rate increases. We're older now and not free yet - we have the money to be free but it's actually quite nice having it sitting in the bank and we're not even tempted to spend it - amazing.

Were we bitter renting, definitely not - we had a ball in the early years together, moving from one end of the country to the other and abroad, when our belongings would fit in the back of a transit! We were what you could term footloose and fancy free. Needless to say we always rented furnished! When people were holidaying in Skegness, Llandudno, Blackpool and a holiday to Spain was the height of chic, we were going to Morocco, Egypt, South Africa, India and the US. Not a single regret. I would do exactly the same again.

Do I have any regrets buying - no, though at times, especially during the mid 1980s and the 1990s having a mortgage was like a millstone round our necks. And renting was the right thing for us when we were young.

Don't be bitter - just make the best of what you have.

Procrastinator333

Sibley wrote: »

I cannot really understand why some people are bitter about renting.

True, you could look at it that you are paying off somebodies mortgage and making them rich.

I personally don't feel like that at all. I'm lucky to see the story from both sides of the fence. I own a house and rent one of somebody else. I don't feel at all bitter and twisted when it's rent day.

Fair play to them. They had the brains and vision to buy the house and deserve a return.

I don't consider my landlord to be a scumbag or any of the other bad names used on here to describe the person providing a roof over tenants heads.

I think a lot of rents will have to rise soon. This will probably make the bitterness even worse.

I wish it would stop.

You know, I was contemplating a post debating the rather obvious bait you left hanging, but in the end decided there was little point in answering such a loaded question.

A further thought on reading your post is actually one of pity. Trying to put others down or wind them up in such a way just screams insecurity.

ceridwen

I dont recall being bitter back in my renting days. I DO remember being upset/angry/puzzled at having to rent - as I had decided to buy a house but the finances wouldnt allow of it (even though I had a full-time job).

I imagine I might well be bitter if I was still having to rent now - darn sure of it in fact - as I would be wondering how on earth I was supposed to be able to retire once I reach retirement age (ie with rent still to pay). As it is - I know I do have a house at a time in life when people definitely SHOULD have one if they have chosen to and I will be retiring okay at my retirement age.

Knowing I now don't have to worry about finding money for either rent or mortgage certainly helps a lot on the "peace of mind" front.

lostinrates

Renting allowed us the flexibility to make life changing decisions on the drop of a hat. Sometimes renting allowed us to live in places we'd not afford to buy in...nor would the vast majority of people be able to, whic.h was an experience. Renting also allowed us to continue putting money aside to build a bigger deposit so that when we thought the time was right we bought something with such a tight turnaround we'd never have managed it if we were trying to sell to buy.

LilacPixie

I rented as a student and cannot remember feeling 'bitter' about it. Now I have just sold my home and have bought a larger one. My mortgage payments (repayment) will be less than the rental cost of similar sized houses in that area. If I was renting that now I think i would be annoyed that I was effectivly paying someone else mortgage at the expense of being able to save my own deposit. That being said house prices here seem quite stable. If prices in my area were falling like a stone an the houses i was loooking to by were 'losing' more than the difference in rental costs I would be happy renting I think.

macaque_2

Sibley wrote: »

I cannot really understand why some people are bitter about renting.

Sibley's diary

Tuesday: Today I totally put renters in their place with brilliantly sarcastic piece telling them how bitter they were for not having enough money to buy a home for their family.

Wednesday: I was sitting in the living room relaxing when they announced house price falls of up to 30% in 2011. I don't remember much after that.

neas

doire wrote: »

And you didn't move to a better place? More fool you then for putting up with it and paying the landlords for the dumps you rented

Your response does show you are bitter alas. If you re-read my post its pretty unbiased explaining the downsides and upsides of renting/buying and the costs involved... in addition i say i wasn't bitter for waiting 3 years renting to achieve it.

Your response is just a knee jerk reaction. To respond to it ill say when renting somewhere like a 3 bed house would cost £650 a month compared to paying a mortgage of £570 a month on it (for my own circumstances)... so you'd obviously just get a mortgage if it was cheaper to buy. BUT if you rent a smaller place then obviously rent is cheaper.. thats why i rented smaller.

The area I rented in, is a similar area to where we are now, just the general standard of decor and maintenance was rubbish.. not unlivable just cheap and cheerful (for renters). The neighbour with the sub-woofers we couldn't tell that until we'd been there 2 weeks.... i.e. living in a shared block of flats/apartments runs the risk that upstairs neighbour will give you hell.

Just simple facts. In 3 of the places i rented i had issue with noise because often rentals are in the worse areas (near train lines, busy roads) or are multiple people in a big building (flats etc). It wasnt that bad living there just not perfect.

breadlinebetty

Dan: wrote: »

There are a whole bunch of losers over on HPC.co.uk who have been waiting since 2000/2001 for a cheaper house.

I'm sorry, but I just couldn't help laughing at that. It's soooo true!!!:rotfl:

:rotfl:

If they hang on long enough they can buy straight into a retirement home.