12 reasons to not buy a house

ViolaLass

B_Blank wrote: »

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.

Patently untrue. I've never lost a penny of my deposit, for example.

chewmylegoff

ViolaLass wrote: »

Patently untrue. I've never lost a penny of my deposit, for example.

over 10 years, and i think 5 different houses, i have lost a grand total of £7.50, for a burnt grillpan. it was burnt when i moved in, but i really couldn't be bothered to argue over that amount!

tara747

ViolaLass wrote: »

Patently untrue. I've never lost a penny of my deposit, for example.

Same here....

Pimperne1

chewmylegoff wrote: »

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.

Thanks, I've never really looked at it that way but you are right.

My BtL work has only been a sideline up to now but I retire on 1 July so I will want it to make them as tax efficient as possible. Up to now it has been a welcome income but from now on it will be an integral part.

My mentality has been £600 rent - thanks, that's £60 for me to start with - what I should have been thinking is "thanks that's £60 less for me to pay tax on".

I will still furnish them though as reasonable quality furniture is quite cheap and long lasting.

spugzbunny

sigh ... seems to be a lot of smugness over people buying property years ago and either making a great profit or paying it all off early.

I would love to buy. I have a good salary and so does my OH and we are saving hard for a deposit but it really is a lot of money to get together. I am neither happily renting or smug in my purchase - just drifting along watching my pennies gather together.

geneer

HAMISH_MCTAVISH wrote: »

14 ) The random act of kindness and generosity of enriching your landlords.

As opposed to, say, bankers.

AHAR

Bohdy wrote: »

I prefer to carry on renting my fully furnished house and wear out my LLs furniture and appliances. Its the ultimate simple life, anything breaks just call him up, and its his worry not mine. I do not want to be fixing toilets or plumbing in the middle of the night. I can spend the money I am saving on mortgage interest on silver bullion every month while I wait for property to continue crashing valued in ounces of silver.

What sort of stuff have you worn out, and over what period?
One of the wheels fell off my lawnmower this week. It originally cost about £40 and I've only had it 8 years. I'm gonna miss that little guy! I wish I had a LL to make everything better again.

Cleaver

Bohdy wrote: »

I prefer to carry on renting my fully furnished house and wear out my LLs furniture and appliances. Its the ultimate simple life, anything breaks just call him up, and its his worry not mine. I do not want to be fixing toilets or plumbing in the middle of the night.

Y'know, I found renting as stressful as owning for this type of thing. For example, our fridge broke when we were renting and it came with the flat. So I rang the letting agency, who questioned whether it was us that broke it. No, I said, it just stopped working. So they sent someone round to look at it and agreed that we hadn't done anything and that the landlord would get us a new fridge. Which was a waste of time, but fridge should be with us tomorrow evening. Two days goes past, no fridge. Ring letting agency up, fridge was meant to be there yesterday, but they don't know what's happened. Ring me back. Fridge being delivered tomorrow. No good for me, I'm at work. Saturday? Yeah, okay, Saturday. Two days without a fridge, saturday comes, but still no fridge. Ring letting agency, landlord ill, will be there on Monday. Can't do Monday, I'm at work...

I'd just prefer to buy my own f*cking fridge. It's all just swings and roundabouts this renting and owning lark. As countless others have said, if you like renting, rent, and if you like buying, buy. Nice and simple.

B_Blank

quantic wrote: »

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!

I could buy a 3 bed detached in a decent area in a wealthy part of the country? Next.

Really2

B_Blank wrote: »

I could buy a 3 bed detached in a decent area in a wealthy part of the country? Next.

But you prefer the added cost and uncertainty of renting. ? Interesting.