MW: IS buying cheaper than renting?

geneer

Jack_Johnson_the_acorn wrote: »

Tut, how immature...:rotfl:

Unlike your mum.

Radsteral

as above people said, it depends on circumstances but for me is cheaper
for years i paid about 950 a month on rent for a very small crouded space
i got a house now where mortage capital repayments is 925.00 a month and i rent the 2 above rooms for 450.00 each. which, after tax paid, i should keep about 800 quid .
for years envying all these on housing benefits. or council house , paying little or no thing for the house they lived, finally i feel like i am getting some rewards too;) but after very hard work .
on the plus side again, my side of my semi is my tool and material shop so i dont have to hire a garage any more and i got a masive garden which we have done lots of vegetables 2 years in the row, and a front drive for 4 cars.
I hope this situation lasts for me about 10 years....by that time i would be mortgage free before 45;)

heathcote123

Radsteral wrote: »

as above people said, it depends on circumstances but for me is cheaper
for years i paid about 950 a month on rent for a very small crouded space
i got a house now where mortage capital repayments is 925.00 a month and i rent the 2 above rooms for 450.00 each. which, after tax paid, i should keep about 800 quid .
for years envying all these on housing benefits. or council house , paying little or no thing for the house they lived, finally i feel like i am getting some rewards too;) but after very hard work .
on the plus side again, my side of my semi is my tool and material shop so i dont have to hire a garage any more and i got a masive garden which we have done lots of vegetables 2 years in the row, and a front drive for 4 cars.
I hope this situation lasts for me about 10 years....by that time i would be mortgage free before 45;)

Geneer, you're obviously not a stupid guy, but why on earth after 6 years don't you start thinking about how to solve the problem rather than !!!!! about it?

Solve it from a personal point of view - not setting the world to rights.

You could learn a lot from the above post.

Southend1

IMHO buying will always be cheaper than renting. At the end of the mortgage term you own your home, making it possible to retire with whatever pension you have scraped together during your working life. If you rent, you reach retirement age with a large monthly outgoing (rent payment), which means you will likely end up working til you drop. There is also the possibility of a leaving something for children/grandchildren when you die to give them a better start in life. If you rent you just slave to benefit the landlord.

geneer

heathcote123 wrote: »

Geneer, you're obviously not a stupid guy, but why on earth after 6 years don't you start thinking about how to solve the problem rather than !!!!! about it?

Solve what?
What does "!!!! about it" mean.

Can't say I've spent much time bemoaning my position, and I suspect you will struggle to justify your inference that this is a "thing".
I'm quite please to have stepped out of the game at the appropriate juncture, and quite pleases at the outcome.

geneer

Southend1 wrote: »

IMHO buying will always be cheaper than renting. At the end of the mortgage term you own your home, making it possible to retire with whatever pension you have scraped together during your working life. If you rent, you reach retirement age with a large monthly outgoing (rent payment), which means you will likely end up working til you drop. There is also the possibility of a leaving something for children/grandchildren when you die to give them a better start in life. If you rent you just slave to benefit the landlord.

In the context of your post your talking about over the very long term. It doesn't really have much to do with the question of whether was better wait a few years for a sustantial house price crash (yes) or whether it is better to continue to wait another few years to see if theres a further crash (potentially).

Southend1

geneer wrote: »

In the context of your post your talking about over the very long term. It doesn't really have much to do with the question of whether was better wait a few years for a sustantial house price crash (yes) or whether it is better to continue to wait another few years to see if theres a further crash (potentially).

I agree with you about the short term decision as to when to time your purchase but buying a house is a long term purchase, usually 25+ years to pay for it so I think you do have to consider it in this way.

Pimperne1

geneer wrote: »

Solve what?
What does "!!!! about it" mean.

Can't say I've spent much time bemoaning my position, and I suspect you will struggle to justify your inference that this is a "thing".
I'm quite please to have stepped out of the game at the appropriate juncture, and quite pleases at the outcome.

Geneer, it beggars belief that this is a post after you have edited it.

heathcote123

geneer wrote: »

Solve what?
What does "!!!! about it" mean.

Can't say I've spent much time bemoaning my position, and I suspect you will struggle to justify your inference that this is a "thing".
I'm quite please to have stepped out of the game at the appropriate juncture, and quite pleases at the outcome.

Stepped out? Of what exactly - you never started.

Come on, you've been on these forums for 6 years, moaning, !!!!!ing, denying prices are rising etc, arguing with the stats.

What I'm suggesting is that you look at the problem from a personal viewpoint - not a global one, not the rights & wrongs of LL's, inflation, capitalism etc and figure out how to get what you want.

Because your strategy right now clearly is not working. I know you'll deny that, but you know it really. You are walking in quicksand and heading to that cut off point where no mortgage lender is going to want to know.

Solve it. It's all a big game & you have the brains to do it if you weren't so stubborn & obsessed with past decisions being 'right'.

So lighten up, play the game - don't moan about the rules - they're not going to change just for you.

PS !!!!ing, b-it-ch-ing

Pimperne1

heathcote123 wrote: »

Stepped out? Of what exactly - you never started.

Come on, you've been on these forums for 6 years, moaning, !!!!!ing, denying prices are rising etc, arguing with the stats.

What I'm suggesting is that you look at the problem from a personal viewpoint - not a global one, not the rights & wrongs of LL's, inflation, capitalism etc and figure out how to get what you want.

Because your strategy right now clearly is not working. I know you'll deny that, but you know it really. You are walking in quicksand and heading to that cut off point where no mortgage lender is going to want to know.

Solve it. It's all a big game & you have the brains to do it if you weren't so stubborn & obsessed with past decisions being 'right'.

So lighten up, play the game - don't moan about the rules - they're not going to change just for you.

PS !!!!ing, b-it-ch-ing

The only way out of this for Geneer will be if in a couple of years time he comes on with a picture of a house (and a loaf of bread) and says "Suckers, I bought back in Dec 2005 and have been playing you all along"!

Otherwise I don't see any way he could end this extravaganza with a title other than "loser".