How Much Money Have You Wasted On Rent?

reweird

The bears and crashaholics often argue that renting is not dead money and that it is money well spent. Meanwhile in the cold reality of day in the sane World anybody and their dog can see that each month you pay down rent to a landlord, or for the man-babies on here, to mummy it is simply one less month you are away from paying down your own mortgage and owning your own home outright. But how much over the years have you personally wasted away paying someone else's mortgage?

doire_2

How many brain cells have you wasted thinking up stupid posts? You will be running out soon

Flight2quality

reweird wrote: »

The bears and crashaholics often argue that renting is not dead money and that it is money well spent. Meanwhile in the cold reality of day in the sane World anybody and their dog can see that each month you pay down rent to a landlord, or for the man-babies on here, to mummy it is simply one less month you are away from paying down your own mortgage and owning your own home outright. But how much over the years have you personally wasted away paying someone else's mortgage?

I have wasted zero on rent because unlike my peers who are paying off mortgages in a falling market and are responsible for upkeep and repairs and buying furniture - I am happy to wear our my landlords house and furniture waiting for the bottom for house prices.

If you are on an interest only mortgage then you are renting off the bank any way. The banks are laughing because they are not responsible for upkeep of the property. You are far better renting off a landlord and ring him every time the something goes wrong or you need a new washing machine or fridge freezer

OptionARMAGEDDON

Renting saved me over 125K... FACT. Our house was bought with a 30% deposit after it FELL 30% in price from an original offer that fell through in 2007 and the owners were repoed. That doesnt include the tens of thousands saved through attaining a much lower LTV figure than i would if I had bought in 2005 and was sat in an overpriced, small, declining value asset. I am in a secure financial position now, adding significant extra equity in improvements, as well as paying large chunks off the mortgage. Furthermore, if I had been a homeowner, I wouldnt have had the flexibility to rapidly move and make an aggressive purchase offer chain free.

Unfortunately, some bears have a weakness. Like me, they are overly conservative and do not like massive risks. I got seriously stressed when we had to use our 100k house purchase fund, but 18 months down the line, I am just about coming to terms in accepting it was the right decision. Didnt feel like it with plasterboard walls down, no central heating and 9K going on work and mortgage overpayments one month, but in the run up to christmas with the slippers on in front of my woodburning stove and paddock due to be fenced for livestock next year, it was definately the right choice.

FTBFun

I wasted zero as it paid for me to live somewhere.

It would only be a waste if I rented somewhere and didn't use it. Which would be silly (like this poll)

Aberdeenangarse

I was going to start a Poll on how high your IQ is reweird, but I think we all know you've got a mental age of a one year old, and probably dribble a lot more.

pinkteapot

I owned a flat from 2006-2009 and it would have cost me £22,000 less if I had stayed in rented.

There doesn't seem to be a poll option to cover that situation.

cepheus

Indeed the loss would be rent - (real reduction in value of house after inflation) -(minus interest on mortgage).

For a house owner, with inflation at 5.5% and house prices at stuck at a steady 160k the loss is £8,800 a year before interest!

movilogo

What a pointless thread! Rent is not money lost - you pay to get a place to live.

Mallotum_X

Maybe we should have a poll as to who the reweird sockie belongs to...

abaxas

If the housing indexes are to be believed....

-82k :P