Better off renting - scientific evidence

Pimperne1

This does it for me. Should have rented.

Caution HPC celebratory link.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=172162&st=0

reweird

!!!!in returds

macaque_2

Pimperne1 wrote: »

This does it for me. Should have rented.

Caution HPC celebratory link.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=172162&st=0

Whilst poor judgement and flawed anaylsis might be a recurring theme to be found within the current crop of bull posts, they don't hold a monopoly.

DaddyBear

Pimperne1 wrote: »

This does it for me. Should have rented.

Caution HPC celebratory link.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=172162&st=0

The idiot forgot to factor in 5 years extra housing cost.

reweird

5 years extra housing rent cost going up year by year. It's obscene to be a renter class filth.

DaddyBear

reweird wrote: »

5 years extra housing rent cost going up year by year. It's obscene to be a renter class filth.

It's not the rent that needs to be added, it's the last 5 years of his mortgage. :mad: With inflation and interest rates impossible to predict over the next 25 years, the real cost of that 5 years cannot be calculated.

I don't know why people keep posting threads saying its better/worse to rent/buy or I've saved three billion pounds by buying/renting. The bottom line is that we won't know until, we get there.

dealer_wins

Best thing I ever did was to get a mortgage 10 years ago. Saved (£800 X 12 X10) £96000 in rent, paid (£300 X 12 X 10) £36000 to my mortgage.

DaddyBear

dealer_wins wrote: »

Best thing I ever did was to get a mortgage 10 years ago. Saved (£800 X 12 X10) £96000 in rent, paid (£300 X 12 X 10) £36000 to my mortgage.

No offence but you were just lucky. There is absolutely no debate, buying in 2001 was better than renting. Makes me wish I was born 10 years earlier.

Graham_Devon

dealer_wins wrote: »

Best thing I ever did was to get a mortgage 10 years ago. Saved (£800 X 12 X10) £96000 in rent, paid (£300 X 12 X 10) £36000 to my mortgage.

Pretty strange calculation.

It's based on the very highest rent atainable today, but to work out how much you have saved, you have chosen to use prices from 10 years ago.

MrRee_2

DaddyBear wrote: »

No offence but you were just lucky. There is absolutely no debate, buying in 2001 was better than renting. Makes me wish I was born 10 years earlier.

I was born 60 years earlier!

And the truth holds today, as it did then .... buying is, by far, the best option.

Take any 10 year spread from 1960 onwards.

Carl31

dealer_wins wrote: »

Best thing I ever did was to get a mortgage 10 years ago. Saved (£800 X 12 X10) £96000 in rent, paid (£300 X 12 X 10) £36000 to my mortgage.

thats fine, but you havent factored in additional costs that house ownership brings, white goods over 10 years, buildings insurance, building maintenance costs etc

All things renters dont pay

if you want to compare the 2 types of living arrangement, and the true cost of house ownership, you cant just compare the rent costs per annum against mortgage cost