Why is it that people are so desperate to own houses?

ruggedtoast

Graham_Devon wrote: »

Don't think so personally.

I couldn't live at the mercy of a landlord, 6 months tenancy agreements, and not being able to treat the house as a home, for example, fearing putting a shelf up incase the landlord decides the shelf needs to come down and requires £200 labour and a complete room overhall because there are now four holes in the wall.

The to and fro to try and get a carpet replaced as it's knackered. The pleading for the boiler to be fixed, and then being at the mercy of who the landlord chooses to fix it, at a time that suits them.

Rental is different in other countries. You treat your rented place as your home. That means redecorating as required, and living in it as required. Sadly in this country, it's still viewed as the landlords prized asset which you are handed the role of housekeeper in as they are somehow doing you the favour of putting a roof over your head, or your deposit will be taken when you leave.

This.

I have rented in other countries and it was fine. The rent was commensurate with the cost of the flat, and the flat was costed at a price a normal person could afford.

I also had more rights as it being my home than the landlords did for it being their investment.

It was fine, I paid my rent each month, didnt feel ripped off, exploited, resentful or anything else.

Renting in the UK is dreadful. Every month you pay an arm and a leg for permission to stay another month. You cant change anything, alter anything, make anything remotely yours.

Then if you have done anything to upset, and often even if you havent, before you know it 6 months has come round and its rent increases, section 21s, £300 for some lying toad in a letting agency to spend 5 minutes typing up an AST before handing you the keys to some place that isnt what it was meant to be.

As a case in point every house or flat I've rented in the UK it has been promised to me will be deepcleaned, or repainted before I moved in. Not once has this ever happened.

Dirty walls, dirty carpet, dirty loo.

Cleaver

Carl31 wrote: »

I understand the general view, Renting is 'Dead money', ownership leads to
an asset of potentially some value at the end of the mortgage term, but it seems that people will give up 'living' in order to obtain the, quite seperate, dream of owning a house? why is this? surely its just somewhere to live at the end of the day

We didn't have to 'give up living' to buy a house, so I can't really give my perspective on this. Essentially we have bought houses because of the two main reasons most people have given: not really keen on renting at this stage in life and it makes better financial sense over the long term.

Loopgames

Carl31 wrote: »

I understand the general view, Renting is 'Dead money', ownership leads to
an asset of potentially some value at the end of the mortgage term, but it seems that people will give up 'living' in order to obtain the, quite seperate, dream of owning a house? why is this? surely its just somewhere to live at the end of the day

I do understand the reasons people have, i'm looking for views and opinions, out of interest more than anything. After all if there wasn't this desperate view imposed on the people of this country, then there wouldn't be any issue with house prices

is it a lack of financial/understanding awareness causing the problem? For those more financially aware, its not hard to see that as an investment, a house is a pretty poor option, the true value of which after paying off mortgage and maintaining the property for a number of years is probably closer to 0 than many really understand it to be

is it time that the view that house ownership is a must was changed?

It is a liability that's for sure. The problem only happens when people view it as an 'investment'. I don't think right minded people view it as such. You buy a house to make into your own home = there's nothing quite like it. I look forward to finding out myself lol!

I don't see it as an investment unless I buy one to rent out and become that dreaded landlady:D

[Deleted User]

Buying your home IMHO is the single best investment available to most people.

If you rent you will pay more in the long run even if the mortgage cost is higher than rent initially.

After 25 years (typically) or less the biggest cost of living for most people disappears. If your renting it increases overtime with inflation and demand.

Its yours so you can decorate how you want etc and if you improve it you keep the benefits of your efforts

House purchases are low risk investments thats why you can borrow so cheaply against them

They are very cheap and easy to maintain

If you chose to invest in something else and rent, then that investment would have to consistently pay your rent as well as the increase in property value you would have achieved in order to compete.

Jimmy_31

Loopgames wrote: »

It is a liability that's for sure. The problem only happens when people view it as an 'investment'. I don't think right minded people view it as such. You buy a house to make into your own home = there's nothing quite like it. I look forward to finding out myself lol!

I don't see it as an investment unless I buy one to rent out and become that dreaded landlady:D

I have the same way of thinking as you do, i just want to be warm and dry when im retired and not sat on rightmove surrounded by packing boxes thinking here we go again:)

birkee

Jimmy_31 wrote: »

I also think people who are desperate to buy a house know that once retirement arrives they will have a secure roof over their head whilst those who are still renting wont.

Only for the system to steal it from you if you go into care in old age! :mad:

Jimmy_31

birkee wrote: »

Only for the system to steal it from you if you go into care in old age! :mad:

I never said the house would be in my name:A

CLAPTON

birkee wrote: »

Only for the system to steal it from you if you go into care in old age! :mad:

-leaving you no worse off than renting ?

-relatively few people go into care homes

-even fewer sell their homes to fund it

birkee

CLAPTON wrote: »

-leaving you no worse off than renting ? That's an odd viewpoint!

-relatively few people go into care homes. Where's the figures, and who cares anyway, it's the principle not the numbers.

-even fewer sell their homes to fund it

You make it sound like that is optional! It's not.

Oldernotwiser

Some of us have pets.