Midlife crisis, want to be free!

ukbondraider

To the OP. It sounds like the issue is more that you cant afford a mortgage rather than not wanting one. If this is the case fair enough. Buying things which are luxuries such as a home should be approached with the expectation that sacrifices will have to be made. If you want to have a good job, then as a kid you have to sacrifice your free and potentially fun time to try and achieve it. If you want to buy a house you may have to sacrifice going out and having holidays abroad. I personally dont see anything wrong with this as buying a house is good in the long term. What I have a problem with is people in this country wanting both when they to be frank dont deserve either. This is not directed at you but just my opinion of alot of people in the UK.

When I went to the Seychelles for a holiday last year, I discovered that the workers there lived separate from their families when they were working on the resort islands and that they only got 3 days holiday a year to see their families. I wonder how many of these folks want to go out drinking every week, or have a holiday every year.

Renting although probably not dead money is definitely careless money. Some might not have a choice but most (not all) will be in this situation as a punishment for not making the correct sacrifices previously in their life. My opinion for such folks is, tough live with it.

For me I think rented accomodation is horrible. I would definitely never view a previously rented house as a possible buy as it can be guaranteed that such a place would either be disgusting in terms of condition or completely cheap in quality. Why would anyone want to live in such a place if they had a choice not to? Why would anyone want to live in a place where they could not decorate it the way they like or not be able to buy things for it because they couldnt permanently fix/leave it there.

If I could buy a place comfortably but make sacrifices then I would definitely do so. Sure living life is important but you can still do that albeit in a different way. I for one would rather stay at home 365 days a year but to have my own home as oppose to rent for the rest of my life just so that I can go to the pub every week.

pinkzebra

It's ok to rent, but think about the future. Will you be able to afford to pay rent if you are living off your £60 a week pension??

greencat_2

Tiger_greeneyes wrote: »

My surroundings are very important to me, I like my own decor - the last house I rented had stripy burgundy walls with a very fussy flowery border at the top and swirly brown acrylic carpets - it drove me mad but I couldn't do anything about it. The bathroom was grey and the kitchen falling to bits and well in need of an upgrade.

I honestly don't notice this kind of stuff - I'd be happy living in a tent if it was safe, secure, dry and had a broadband connection.

pinkzebra wrote: »

It's ok to rent, but think about the future. Will you be able to afford to pay rent if you are living off your £60 a week pension??

I'm hoping my investments will mean I'll have a pension a little bigger than that...

Tiger_greeneyes

greencat wrote: »

I honestly don't notice this kind of stuff - I'd be happy living in a tent if it was safe, secure, dry and had a broadband connection.

Are you male by any chance?

lynzpower

pinkzebra wrote: »

It's ok to rent, but think about the future. Will you be able to afford to pay rent if you are living off your £60 a week pension??

well thats what housing benefit is for in this day & age.

Besides, maybe the belting wedge of cash weve got from saving over the decades will see us through our twilight years.

Theres every possibility that we will buy again. Lets face it, we are only in our 20s so maybe in a few years we'll have more wedge and put that down as a monster deposit and chip away at a mortgage if we really feel the need to be saddled with a mortgage agin!

[Deleted User]

It all depends on your individual preference. Renting has got some advantages - as Lynzpower says - you can move about - tenancy agreement permitting. But being able to move about as and when you please is not solely down to renting property. You need to not only have a steady income, you need to have work that can move with you (unless you have enough money not to have to work). If you have no dependents then it's even easier as you don;t need to consider their wishes, their work, their schools etc...

Renting may give you extra money in your pocket NOW - but what are you doing with it?

Unless you are putting it towards the future when you retire - will you always have that extra money after you retire?

How will you manage when you still have to pay the rent?

greencat_2

Tiger_greeneyes wrote: »

Are you male by any chance?

Is it that obvious?

Tiger_greeneyes

greencat wrote: »

Is it that obvious?

Glaringly so :rotfl:

MJMum

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sheraz2

lynzpower wrote: »

well thats what housing benefit is for in this day & age.

I don't agree with this comment. So you take that extra money that you save and either make some shrewd investment decsions and let it grow and compound. If not, then just become a burden on the state because you decided to blow your cash on the high life and not make provisions for your old age.