Buying is £124 a month cheaper than renting

MrRee_2

It was all said as a kind of inducement to people considering renting versus buying ...... an encouragement to those who have an eye on a relaxing retirement.

It was not intended as gloating at all .... I have been fortunate in how the dice have fallen.

BillJones

CC-Warrior wrote: »

I don't think anyone chooses to rent.

Of course they do. Loads of the guys at work rent, as they know that they may move every few years, and don't want 5% stamp duty each time.

I did myself for a few years, before deciding that I was happy enough here that I should buy.

kieran3184

Lily-Rose
19-03-2014, 1:42 PM

"We also have the right-to-buy, but we wouldn't buy it in a million years, even if we got 50% off (it's valued at £160K) because the mortgage even for £80K would no WAY be as little as the rent, and we would have the headache of repairs and maintenance again, and wouldn't have the pleasure and convenience of calling someone for a repair and having it fixed for free, within days (sometimes on the same day.) In addition, we would not be able to benefit from the safety net of housing benefit if we couldn't pay the mortgage, as you can when you rent."

Sorry for your past woes, but I really take exception to this. As an income tax, national insurance, council tax payer, mortgage payer, why the hell should I be paying for you to "have the pleasure and convenience of calling someone for a repair and having it fixed for free, within days (sometimes on the same day.)" at my expense? You sound like you are bragging somehow. You ought to be ashamed

MrRee_2

It's an indication of the 'Benefit Culture' ...... which has been evident from early on in this thread.

The idea that everything is free, paid for by someone else, no thought of making your own way in the world.

From an early post - *in old age someone else will house me, free, if I rent now rather than buy and build for my future!*

GwylimT

If 100% mortgages still existed our flat would cost us around £600 a month, the flats in our building rent for around £800-£900 a month. Now in around four months we are going to be mortgage free, this is definitely cheaper than renting, yes you pay for repairs etc, but that certainly doesn't come close to the cost of renting for the rest of your life.

bonbon49

Up until last week we rented, had done for three years. We had to rent as we didn't have the money for a deposit, but really hated having to pay our landlord every month and have nothing to show for it-the property we rented wasn't maintained at all, no repairs were ever done, and on several occasions our health was put in danger due to the lack of maintenance and repairs.
We had a very tough three years, and have been very lucky to be able to put down a good sized deposit on the house we've just bought. We will now be paying over £350 less per month on our bills, which is a reduction in mortgage versus rent, council tax, water rates, and gas and electric. It has definitely been the best decision for us financially, but I do know this isn't the case for everyone, so it's worth checking your finances in detail before buying to figure out which option will work best.
I think it's quite easy to overlook a lot of the expenses of buying that you don't have with renting, such as repair costs, or insurance costs for repairs, buildings insurance, and then one-off expenses such as stamp duty and all the fees associated with buying.
For us though, it was still by far the best decision but not the case for everyone.

MrRee_2

Buying has costs, but these costs are tiny compared to the whole life renting costs.

Good luck with your purchase!

CreditCrunchie

I envy you bonbon, hopefully that will be us in 2 years time. To put it in perspective, we would be paying around £700 on a mortgage, yet we pay £400 more than that in rent

Lily-Rose_3

kieran3184 wrote: »

Sorry for your past woes, but I really take exception to this. As an income tax, national insurance, council tax payer, mortgage payer, why the hell should I be paying for you to "have the pleasure and convenience of calling someone for a repair and having it fixed for free, within days (sometimes on the same day.)" at my expense? You sound like you are bragging somehow. You ought to be ashamed

Oh my God, what a horrible, ignorant post! You are just assuming that my husband and I don't pay council tax, income tax, national insurance and every goddam other last thing that you pay?! What a rude and ignorant statement! We pay EVERYthing that you pay, full rent, full council tax, full EVERYthing. And I sound like I am bragging?! You have got to be kidding. I merely explained my situation and why we are better off renting.

Your post is very rude and very ignorant, and TBH you sound quite jealous and bitter. We are the only country in the land that are obsessed with being 'homeowners.' In Europe they mostly rent, and have long term tenancies. Why do you have such a problem with people who rent, and are happy with renting? You sound exactly like Mr Ree. (And if you want to see an example of bragging and gloating and being spiteful: just read HIS posts!)

We were in private let for about 6 years, and homeowners for 12, and are now very happy sitting pretty in our little 2 bed detached, housing-association bungalow. I am very sorry if this gets up your nose somewhat, but it's not my problem you're not happy being a homeowner (and your spiteful comments suggest you're not!)

The only one who should be ashamed is you for your nasty post.

Many people who are buying have been very courteous on this thread, but a few people who are buying, seem angry and bitter that some people are in nice decent social housing.

Mr Ree, as you refused to believe that I live in a 2-bed detached housing association bungalow, here is a picture of our house especially for you, that we have for life at £70 a week including repairs and maintenance and everything.

Here it is (second from left,) in the street I live in.



It started off as a development for private sale, and the buyer went went under, so a local housing association bought them for their housing stock. Rather nice isn't it? Right next too woodland and not a million miles from the sea. All the bungalows are housing association (although some have bought them now.)

But I am sure that Mr Ree and several others won't want to believe me, and will insist that I actually live in a tiny squalid 1-bed flat on a big sink estate.

I am also bowing out of this thread: it's just a breeding ground for spiteful and b1tchy remarks about people who rent now, and to insist we are all benefit scroungers!

Good day to you! Enjoy your hating and bashing people who rent.

MrRee_2

That's a lovely looking bungalow, I must say!

Amazing find for a HA place - you have done rather well there.