Do you get fed up with the spin?

Mrs_Sparkle

GreyPilgrim wrote:

Maybe renting isn't that bad. Would it make me a bad person to stay renting, save the money anyway, wait for the market to crash and then buy a seven bedroom house at a knockdown price with all the money I'd saved?:rolleyes:

Nope, that would make you a very clever cookie! Re buying v renting I don't think either is particularly better than the other- it just depends on your personal circumstances at the time. I've done both and have seen advantages to both.

My one consolation is that as long as I manage to ride out any interest rises and falls in house prices over the next 23 years I will one day have paid off my mortgage and that will be a huge freedom for me and my family.

Tr@cker

Cant see any old-style market crashes in housing with the B of E having control of interest rates instead of politicians.
But agree renting can be a good thing especially if you've got a good landlord. Newbies to homebuying probably dont think about the additional 1000's they might have to spend on repairs etc.over years it adds up.
Ive rented for the past 10 years my rent is fair and everything from a leaky tap to noisy neighbours is taken care of by my housing society.

Broken_hearted

I hated renting and never want to go back. I refused to go bankrupt because I would have lost my house. Yes I'm broke but it's my home.

Bogof_Babe

You do have to project forward to when you are retired on a pension. How attractive will paying rent be then? It's worth a struggle in your early years to know that all your state and/or company pension is for living expenses, not the roof over your head.

JGWT8M

Bogof_Babe wrote:

You do have to project forward to when you are retired on a pension. How attractive will paying rent be then? It's worth a struggle in your early years to know that all your state and/or company pension is for living expenses, not the roof over your head.

Our 94 year old neighbour's rent is 80% paid by Housing Benefit, and council tax is 100% benefit for her too, all she has to find is £16.80 from her state pension to pay the rent, the rest is for her living expenses.

For a 94 year old, she is very active, and seems very happy, no wonder.

~evanesco~

JGWT8M wrote:

Our 94 year old neighbour's rent is 80% paid by Housing Benefit, and council tax is 100% benefit for her too, all she has to find is £16.80 from her state pension to pay the rent, the rest is for her living expenses.

For a 94 year old, she is very active, and seems very happy, no wonder.

Great point!! We've been thinking about saving to buy when we get debt free, but since most of our rent is paid, and will be until our kids are 16, I can't see any logic in it. Sure it would be nice to own our own house, but I seem to remember that I had hardly any money this time last year, when I was living with my now ex-partner and we had bought a house together. As it is now, when we're debt free next year, we'll be able to save £16,000, which won't affect our housing/council tax benfits. That'll start us off for when the kids leave home. After that sum is saved, the rest will be saved for the kids ready for uni/cars/general whatever they want to do with it when they hit 16. We won't be saving at the same rate we're paying off our debts. I can't find a logic where we shouldn't live comfortably if it's within our means. Being thrifty is fine for now, but for us, it's not a choice for life.

Evans. xox

Verbatim

Has anyone else heard a rumour/ opinion in housing circles that the gov't intends to do away with permanent leases for social housing and bring in shorter term leases like private sector ones?

Already many homeless people/ people in housing need are considered "helped" by referral to the private sector rather than being given council housing as they would once have been.

Xbigman

There is a shortage of council housing and you have single people living in three bed council houses. Short term leases are seen as a way to get more 'churn' on these properties. The intention would be to not renew a singletons lease in a three bed but offer them a 2 or 1 bed instead.
This situation is a bit pants because you would end up with people getting moved away from their friends and local community against their will. On the other hand this is a genuine problem that needs addressing. The real answer of course is to build more council housing.

Its also a fact that short term leases would make it more attractive for housing associations to buy up council housing stock.

The third element is that council rent is lagging far behind private rents. Short term leases could well help push up council rents in real terms.

That said, I don't think even this government would have the guts to do it.
Regards



X

JGWT8M

Verbatim wrote:

Has anyone else heard a rumour/ opinion in housing circles that the gov't intends to do away with permanent leases for social housing and bring in shorter term leases like private sector ones?

Yes, it's already going on (I think).
Our local council now put new tenants on a Assured Shorterm Tenancy (or is it shorthold - can never remember), and then after a year if you've been a nice good tennant you get upgraded to Assured Tenancy (If it hasn't already started it will do soon).

The letter we got a few months ago said it would only apply to new tenants, existing tenants on assured tenancy or existing tenants doing a transfer wouldn't be affected.

I think this is to give them greater powers of eviction for problem people than anything else (that's what they're saying anyway).

Our rent is set by the Government for what they consider is fair for a property of this size, we've often been told by the "social landlord" that they don't care what the private sector do because they live "in their own little world where toilet seats cost £500" and I'm pretty sure that rent can only be increased 5% p.a. I don't have the paperwork in front of me but I'm pretty sure that is what it said.

Storm

I'm renting & although part of me would love to buy somewhere it's just not realistic at the moment. My plan was to get debt-free then start saving for a deposit, but to be honest the way prices are at the moment is just ridiculous the size of deposit I'd need!

So, it looks like I'll be renting for quite some time, but hey the landlord sorts out any problems, I'm free to move with 1 months notice and I'll have a much better standard of living in the meantime!