How Much Money Have You Wasted On Rent?

Flight2quality

Mallotum_X wrote: »

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

Good idea, hey someone did it........

Jimmy_31

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?

Should any rent arrears be knocked off my grand total as i have done a runner a few times without paying my landlord.

Anybody know where the calculator is on the iphone please.

Dan:_4

Flight2quality wrote: »

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.

When do you think this will happen? I have been told to 'wait for the bottom' for 4 years now!

Flight2quality wrote: »

If you are on an interest only mortgage then you are renting off the bank any way.

Not true. You own the property, not the bank.

IveSeenTheLight

I did rent for 3 1/2 years when I was younger whilst I paid off debts and saved up.

That said, I've since bought property to rent out and have recouped my previous rented loss

nollag2006

Dan: wrote: »

When do you think this will happen? I have been told to 'wait for the bottom' for 4 years now!

The bottom was in Q1 2009. Glad I picked up a couple of BTLs in Ealing back then.

Price is up 15% on both since that time, and the rents are up 20% too.

:beer:

Aberdeenangarse

nollag2006 wrote: »

The bottom was in Q1 2009. Glad I picked up a couple of BTLs in Ealing back then.

Price is up 15% on both since that time, and the rents are up 20% too.

:beer:

I've noticed the 'porkie' detectors gone off again:rotfl:

Emy1501

In the current Market in most areas rent is no different to the interest paid on a mortgage you could argue their both dead money. In the current Market the are pro's and cons to both

geneer

I'm pretty sure rent pays for a roof over your head.
Frequently in nicer places than you could afford if you were to buy it.

SailorSam

I've never paid rent, went straight from leaving home to starting to buy my own place.
I'd see it as a waste but in many Countries renting is seen as the norm.

nollag2006

geneer wrote: »

I'm pretty sure rent pays for a roof over your head.
Frequently in nicer places than you could afford if you were to buy it.

Again - the truth and your view of the world diverge geneer.



The facts show that it is cheaper to buy than to rent in 4 out of 5 UK towns:
http://money.uk.msn.com/news/money-news/articles.aspx?cp-documentid=158230800

Why let the truth stand in the way of a mis-informed rant, eh?

:rotfl: