Putting your life on hold...

Niv

FATBALLZ wrote: »

Why is paying interest on a loan to a bank better than paying it to a landlord?

Well most people don't just pay the interest to their mortgage provider, its a combination of interest + Capital. I paid ~£2k last year in interest the rest of my mortgage was capital. To rent the same house would cost ~ £7.2K.

If you are referring to interest only loan repayment then I am inclinded to agree with teh obvious exception that the bank cannot decide to evict you because they feel like it or decide they can get more money off a new tenent/borrower.

Niv

ViolaLass

LittleMissAspie wrote: »

I've never rented anywhere that we could paint the walls or change anything, it doesn't seem common around here. To give an example we weren't even allowed to put pictures on walls, not that I like pictures on walls.

I'm technically not allowed to either but I've never had any trouble provided there's been no damage at the end of the tenancy. We've even put up shelves.

If I had owned the last house we rented I would have done the following:
completely new kitchen including appliances, flooring etc
changed all carpet and flooring througout
changed living room window into one that opens
got rid of back boiler for combi (they did that in the end)
got rid of huge boxed in bit in the living room where the back boiler used to be
ripped out built in wardrobe
changed all curtains - perfectly possible, just keep the old curtains and replace when you leave.
put a blind on bathroom window - ditto
changed bathroom suite and flooring and cupboards
ripped up garden and replaced with grass and flowers

I see point on the other things (although if you have the money to do all these things, don't you have enough money to buy?).

LittleMissAspie

Orpheo wrote: »

It's a state of mind.

If that is the case, how do you change it? I got very depressed in the last house as I didn't like being in it so I had nowhere to go that I felt safe and happy. If my environment around me isn't right it really affects my brain. Even a cluttered desk stops me from working as I can't concentrate, so a whole house that has the wrong decor and layout makes my whole brain feel "off".

LittleMissAspie

ViolaLass wrote: »

I see point on the other things (although if you have the money to do all these things, don't you have enough money to buy?).

We have bought now, that's why I'm not on hold any more

Putting up the blind would have involved drilling into the wall, there was no blind or curtain at all there.

ViolaLass

LittleMissAspie wrote: »

We have bought now, that's why I'm not on hold any more

Putting up the blind would have involved drilling into the wall, there was no blind or curtain at all there.

Fill it with polyfiller when you leave. As I said, we put up shelves and just filled the holes when we left. The LL had no complaints and we got our deposit back in full.

franklee

LittleMissAspie wrote: »

I've never rented anywhere that we could paint the walls or change anything, it doesn't seem common around here. To give an example we weren't even allowed to put pictures on walls, not that I like pictures on walls.

If I had owned the last house we rented I would have done the following:
completely new kitchen including appliances, flooring etc
changed all carpet and flooring througout
changed living room window into one that opens
got rid of back boiler for combi (they did that in the end)
got rid of huge boxed in bit in the living room where the back boiler used to be
ripped out built in wardrobe
changed all curtains
put a blind on bathroom window
changed bathroom suite and flooring and cupboards
ripped up garden and replaced with grass and flowers

True, apart from changing the curtains which one can do as a tenant. But looking at that list reminds me that's it's quite nice to take a break from DIY. While I am looking forward to buying again - when the price is right - I'll miss my weekends sitting in the garden with little more to do than cutting the grass. Being MSE I reckon I've saved the cash from what would otherwise have been a couple of makeovers, apart from the odd curtains and rugs

System

I have to agree with the OP that renting is seen in a negative light. The evidence of this plays out in what happened in the housing market in recent years - too many people bought just because they thought buying was better.

The rise in popularity of shared ownership (a pet hate of the OP!) Is evidence that people will risk all they have just to own.

I think it is quite sad that some people are unhappy just because they don't have a mortgage.

Orpheo

LittleMissAspie wrote: »

If that is the case, how do you change it? I got very depressed in the last house as I didn't like being in it so I had nowhere to go that I felt safe and happy. If my environment around me isn't right it really affects my brain. Even a cluttered desk stops me from working as I can't concentrate, so a whole house that has the wrong decor and layout makes my whole brain feel "off".

Blimey. I rest my case.

Eton_Rifle

I think if you're child-free with few possessions and weak local commitments then renting is frankly just as good as buying, if not better.

However once you start building up family, local friends and connections, acquiring possessions and a creating a lifestyle that suits you then the balance begins to tip the other way.

Orpheo

Eton_Rifle wrote: »

[STRIKE]I think if you're child-free with few possessions and weak local commitments then[/STRIKE] renting is frankly just as good as buying, [STRIKE]if not better.[/STRIKE]

[STRIKE]However once you start building up family, local friends and connections, acquiring possessions and a creating a lifestyle that suits you then the balance begins to tip the other way.[/STRIKE]

Nonsense.

We have a 13 year old daughter, we sold our last house when she was 11 (in year 6). The local senior schools there were intolerable choices, fortune had us relocating to a different town so we were able to choose to rent near the best school. Now that she is in that school, we are not obliged to buy a house in the same area should we wish not too.

We have 15 years worth of acquired possessions (all owned outright, we have zero debt) and whenever we have moved, guess what? We hire removals to move it all. It really is very simple. My wife and I have lived in lots of different places, my wife has lived in the US. Moving doesn't intimidate us in the least. I guess some people are simply more dynamic than others.

I'm sorry that you believe that you can only choose your lifestyle if you are a mortgagee. That must be very inhibiting for you. Or have you been watching too many property programs on daytime TV?

All of my friends I had when I was a mortgagee remain my friends now. And connections are made by getting out, not staying in with your pipe and slippers.

I edited your post to make it accurate.