Have you sold to rent?

Dithering_Dad

wecanhelpu wrote: »

DD - what I dislike about kb and other posters like him is they have followed one particular path and then assume that is the only way to do things even if other people have got different situations.

I personally wouldn't STR because I am in my 40s and settled in a house which I never want to move from. I intend to be motgage free within 5 years and retired in 12.

As I said in earlier posts kb is a prat and is best ignored.

What irks me is not that he promotes the path that he followed himself, but that he promotes a path that he wishes he had the guts to follow. I remember the OP on the "Don't Pay Your Mortgage Off" thread argued that pursuing a MFW approach ultimately stifles you because once you have paid off your mortgage you are afraid of getting another and so remain in your property regardless of whether the property was appropriate anymore (i.e. too small, poor location, etc.)

KB was very indignant at this and argued strongly against it, but it seems that's exactly what has happened to him and the 1 bed flat, because in a much later post KB stated that he would love a larger home with a garden. I asked him why he didn't get a small mortgage and just buy a bigger place. Needless to say I didn't get a response.

I'm getting obsessed aren't I. :rotfl:

Dithering_Dad

Update:

In the first post I did on this thread I mentioned to Keeperbear that I was confused as to where he stands with investing in property. On the one hand he promotes property as a cast iron investment and berates and mocks anyone who suggests there is a possibility of a crash in the market, yet he refuses to invest in said market and so continues to live in a 1 bed starter flat he bought in the mid nineties.

He has finally answered my question:

keeperbear wrote: »

After comparing the UK and US housing markets, it seemed madness to even think about buying a bigger property in the UK

Looks like even Keeperbear thinks there will be a property crash. I hope all the FTB's who took his "property is the safest investment" advice with a pinch of salt.

It wouldn't surprise me if he did an even bigger u-turn and sold his flat and rented in order to survive the crash and pick up a bigger place for the same cash in a couple of years. After all, with what has happened in the States, you'd be mad to get a bigger place right now - there's a crash coming!!!
:rotfl:

beingjdc

I sold up in Spring 2005 and am now renting - not specifically because of prices, more because I was offered a 50% pay rise to move to London, but that's not enough to buy in a place I'd want.

I share a nice 2-bed 2-bath in Zone 2 next to the tube with a friend for £140 a week each, which compares well with a mortgage - a cheap 1-bed round here would be around £175k, so £200 a week interest at 6%.