Cost of living calculator?

Vikaroo

Thanks guys I'm still not convinced about the whole renting/mortgage debate. I've already taken into consideration most of the points made by everybody and still see more benefits to having a mortgage.

I definitely won't be relocating nor will my boyfriend. I've just spent the last three years trying to get a job back closer to home as I was working 35 miles away and it was costing me a ridiculous amount in car fuel every month. Where I will be working, I previously used to work and they have very good prospects and are a very large NHS trust so I intend to stay there for the very long term. I'm quite traditional and my family have lived in our village for hundreds of years, I also intend to stay put, so does he

As for being young I'm 25 I know that's fairly young but think now is the right time to buy for us

londonlydia

interesting point as well- even if you fall into negative equity, with rent you don't build any equity....so effectively if you look at negative equity as money you cant get back, isnt that really what rent is? but i do see the freedom argument (but then there's also added hassles with renting like bad landlords, not being able to do what you want to your home, the fear of being kicked out because they havet kept up their mortgage payments etc)

Kynthia

No-one is saying you should rent, just that not seeing the advantages of renting and disadvantages of owning can lead to some people making the wrong financial decisions or be unaware of the risks.