12 reasons to not buy a house

FATBALLZ

Desperate_Housewife wrote: »

In an ideal world I would be a millionaire and !!!!!! 50 pound notes but hey, we dont live in an ideal world...deal with it...

How bizarre. You make a suggestion that presupposes we live in a perfect world, then I point out we aren't in a perfect world, and you tell me to deal with it? Did you get a bump on the head as a child and develop a short term memory condition?

purch

From how you spoke I thought you would of retired aged 35 or something. haha

No, that was me :eek: (37 actually, but close enuff !!!!)

Poshbird

B_Blank wrote: »

1, Dont have to get buildings insurance
2, Dont have to pay to repair things like water leaks/the roof
3, If they build a nuclear power station next door you can just move
4, if they build a land fill site next door you can just move
5, if the area turns into a ghetto with high crime you can just move
6, You can search for work across a wider geographical area
7, Your not tied down to a single location for 30 years
8, you dont have to pay interest to a bank for 30 years
9, If you neighbours are awful you can just move
10, You dont have to worry about subsidence and other such issues
11, You dont have to worry about the bank/government raising the interest rates you pay
12, You never have to go through the whole buying/selling process which is a nightmare and very expesnive

Simple, just rent and put a portion of your portfolio into property funds. Then your exposed to property so you wont "miss the boat" if there is a dramatic increase in prices, but at the same time you dont have the annoyance of owning a home.

13. You can wear out your LLs furniture and appliances. Fully furnished houses are about the same rent as unfurnished.

Its the simplest life to rent and no worries. When something breaks call the LL and demand its fixed.

Really2

Well one good reason for owning seems to be that you will avoid B Blank as your neighbour.:)

Pimperne1

Poshbird wrote: »

13. You can wear out your LLs furniture and appliances. Fully furnished houses are about the same rent as unfurnished.

Its the simplest life to rent and no worries. When something breaks call the LL and demand its fixed.

But the benefit if on the landlord as much as the tenant. 10% of the rent of furnished properties is allowed to be retained by the LL before any other consideration so for the average rent (say about £600) the landlord has £720 a year to pay for furniture dilapidations.

If my tenants caused half as much in dilapidations as that in a year they would be moving on.

B_Blank

I am of the opinion that you shouldn't worry about your deposit as a tenant. LL will take it even if you leave the property in a perfect state. Hence, I recommend just leaving the place a dump when you move out.

quantic

B Blank, based on your post history - you clearly do want to buy but can't. Good day to you, sir.

B_Blank

In fact I could buy today. So your wrong. Never mind though, FAIL.

chewmylegoff

Pimperne1 wrote: »

But the benefit if on the landlord as much as the tenant. 10% of the rent of furnished properties is allowed to be retained by the LL before any other consideration so for the average rent (say about £600) the landlord has £720 a year to pay for furniture dilapidations.

this is not correct.

the LL has to buy the furniture to put in the property, but receives the same rent.

the only incremental benefit the LL letting out the furnished property receives that they don't pay tax on 10% of the rent. so in your scenario, the LL will save £288 or £144 of tax per annum depending on whether they are a higher or lower rate tax payer. (this all assumes, of course, that LL actually makes as much as £720 profit).

so, the furnished LL is £288 per annum better off, but the unfurnished LL didn't have to buy any furniture. if the furnished LL spent £720 on furniture delapidations they would be £432 worse off than the unfurnished LL.

quantic

B_Blank wrote: »

In fact I could buy today. So your wrong. Never mind though, FAIL.

Well, either that or you can't buy the kind of house you THINK you deserve without a crash.

Sounds like you have an idea in your head of what type of house you should be able to buy based on your aspirations and ego, but as you can't you would rather rent a place then accept the fact that this is the situation you are in and can do nothing about it.

No number of posts on her are going to encourage everyone to think the way you do, bit of advice, get on with your life and make do with what your means can provide. Otherwise you will end up old and bitter, which by the sounds of it you are already strongly on your way to becoming!