This is an odd comment. I find in the current market I have a greater choice on places to rent than places to buy. Also (having experienced noisy neighbours) renting gives you the opportunity to just up sticks and leave. Selling can take months and years. It is a much greater risk when you buy and you don't know who your neighbours are (they can seem nice to start with), than when you rent.
It is a good debate.
I love owning my own place but I sometimes envy those who rent.
The best thing about owning is that I choose where to live and I live next door to other owners. In rented accommodation, where next door is also rented, you never know who your next neighbours might be.
In short, renting is best if you rent near similar people to yourselves.
GorgeousGeorge - You were making a lot of sense, until you got to the bit where you didn't give the rental view...
"The best thing about owning is that I choose where to live and I live next door to other owners. In rented accommodation, where next door is also rented, you never know who your next neighbours might be."
Well that's true to a degree until the owner next door decides to let out there place or the owner next door sells it to neighbours from hell (you've no control over those). Also Mr and Mrs Nice Neighbour may turn out to be anything but nice.
The best thing about renting is if you do end-up with neighbours you don't like, you give your notice (1-2 months) and find somewhere else. You don't have to worry about selling if you want to leave (how long will that take?) and you'll need to make sure you don't end-up in a dispute as that'll have to be declared.
Two sides to every story
This surely is the flaw in the argument - I know a lot of people who rent - NONE of them save any money.
They will end up forever renting, with no savings, whereas a mortgage WILL be paid for.
Here's a question:
If a lot of people are prepared to overstretch themselves to "get on the property ladder" (I hate that phrase!) and end up paying maybe three-fifths of their monthly salary in mortgage payments when they could be renting for more like two-fifths, then what is stopping people renting with two-fifths and investing the extra fifth?
Yes, what I was trying to say is that, on an estate where all or most houses are rented, you tend to find more problem families than on estates that are all private. I'm sure there are exceptions to this rule.
I have to say i agree - I have just started the process of buying my first flat and never mind the money, it will cost slightly more than my rent, but its bigger, we can decorate, ITS OURS! Can't wait.
Renting was good when I was younger but my problem was that once you start renting its nigh on impossible to start saving for a deposit. I got some inheritance or I'd be looking at the next twenty years paying somebody else to live in their damp property (when I could be living in my OWN damp property )
Renting would haver been even more attractive if the Tories hadn't sold council houses to buy votes.
Incl. free 0% overdrafts and railcards
Here's what we've found...
Here's what you need to know