We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Buying is £124 a month cheaper than renting

1…1213151718…20

Comments

  • t0rt0ise
    t0rt0ise Posts: 4,518 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Nobody can say a blanket 'buying is better than renting' or 'renting is better than buying'. It totally depends on the individual's circumstances. Anyone who doesn't realise that is either a bit dim or kidding themselves.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    The bottom line is that the article is a load of tosh. It doesn't give the full picture. It only considers rent and current mortgage repayments when there are other costs and factors to be considered.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Walcott wrote: »
    ukcarper wrote: »

    Yield = rental income per annum/price of property. That does not tell me anything about what the cost to the landlord is for maintenance.


    If the landlord is a cash buyer it's quite simple that 5% is profit and maintenance charge. If it's a BTL mortgage it gets more complicated as you cannot borrow 100%.
  • System
    System Posts: 178,376 Community Admin
    10,000 Posts Photogenic Name Dropper
    ukcarper wrote: »
    Walcott wrote: »


    If the landlord is a cash buyer it's quite simple that 5% is profit and maintenance charge. If it's a BTL mortgage it gets more complicated as you cannot borrow 100%.


    Still don't buy it.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • MrRee_2
    MrRee_2 Posts: 2,389 Forumite
    You would rent it though .............
    Bringing Happiness where there is Gloom!
  • System
    System Posts: 178,376 Community Admin
    10,000 Posts Photogenic Name Dropper
    Still here pretending?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • MrRee_2
    MrRee_2 Posts: 2,389 Forumite
    Still trying to educate you, well yes.

    I don't give up on failures ......
    Bringing Happiness where there is Gloom!
  • System
    System Posts: 178,376 Community Admin
    10,000 Posts Photogenic Name Dropper
    That's why you haven't topped yourself yet
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • CC-Warrior
    CC-Warrior Posts: 323 Forumite
    MrRee wrote: »
    To, SG27 ..... EH?

    Did you miss the bit where I said, "I would now, in my advancing years, have to pay £2,000 a month to live where I do"?

    Instead I pay nothing ..........

    If you want to retire to a 1 bedroom flat in the corner of a Council Estate in the worst part of town then continue renting ....

    However, if you wish - as I do/have - to retire where you can see the sea, have no attached neighbours, have a double garage with a boat and sports car for when the sun shines ......... then BUY!

    It really is a no brainer to me ......

    Yes, and you bought your house in the 70's...when things were a lot different to how they are now. You didn't have to somehow find 20-30k for a deposit.
  • MrRee_2
    MrRee_2 Posts: 2,389 Forumite
    CC-Warrior wrote: »
    Yes, and you bought your house in the 70's...when things were a lot different to how they are now. You didn't have to somehow find 20-30k for a deposit.

    True, but I did have to find 10%!

    AND, could only borrow 3x salary.

    My Mummy and Daddy couldn't help as I did my offspring.

    It was just as tough then, maybe harder.

    Inflation was running at over 12% - this was, actually, a great thing for reducing the real cost of debt.

    I have seen 15% Mortgage Rate too, remember - you have it quite easy these days.
    Bringing Happiness where there is Gloom!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture