Buying is £124 a month cheaper than renting

Soleil_lune

chucknorris wrote: »

If that's is all that you want to aspire to (being a pensioner on benefits) then fair enough.

As for the rest of your post, you are missing the most important point, and that is when you buy a house the mortgage is based upon on a % of the purchase price, so the mortgage merely fluctuates, whereas rents will almost certainly increase over the years due to inflation. That differential widens as time progresses. A 3 bed flat in Battersea which I bought in 1991 initially had a rent of £750, that rent is now £1,711, and it needs increasing as I have fallen behind the market by up to 15%.

No I do not necessarily aspire to being a pensioner on benefits. And I never said I did. So stop trying to put words in my mouth to suit your agenda. It's just that the OP is trying to make a (smug) point that HE won't/doesn't have to pay anything as the mortgage is supposedly paid, and I am saying that many people who rent (whether they work now or NOT) will have their rent paid when they are pensioners. This is a fact. Sorry if it annoys you, and doesn't suit your argument to insist that you are sooooo much better off buying; but a large amount of pensioners will have their rent paid by housing benefit.

As for the rest of YOUR post, you started buying in 1991, which was almost a quarter of a century ago. I said it's not worth buying THESE DAYS! Maybe you should read posts thoroughly before you start spouting stuff.

You can rant on as much as you like about how much better off people who 'buy' are than people who rent: doesn't make it true.

MrRee_2

Soleil_lune wrote: »

OP, you're living in a different world to many other people. Your situation is NOT typical of the vast majority of people, and I don't know where the hell you live, or what kind of house you live in, but where *I* live, rent is around £500 a month, and that is for a 2 bed in a good area or a 3 bed in an average area. There's no horrible areas where I live, but in a 'rough' area about 10 miles from me, you can get a 3-bed house for £450. And a 4-bed for £500.

As for not having to pay anything when the house is paid for (and that will be when most people are pensioners!) People who rent will get housing benefit anyway at the age of 60 or 65, so it won't cost them anything either. So your 'argument' holds very little water.

I am living in the REAL world ........ your argument hinges around the hope that you will retire into a 1 bedroom council flat in a run down area where crime is rife against the elderly - if that is your aspiration then I feel really sorry for you.

While your opposite number, who buys rather than rents, is living by the sea in a lovely area of town where the only crime is the mobility scooter doing more than 5 MPH on the pavement ..... you will be cowering in fear in the corner of your council flat.

You carry on renting if that's where you desire to be ..... I'll take my bungalow by the sea and beach any day of the year, thanks all the same!

I have lived here for 20 years and spent less than £1,000 on repairs and maintenance .......... it's a no brainer.

Buy, my friends, BUY!

Soleil_lune

MrRee wrote: »

I am living in the REAL world ........ your argument hinges around the hope that you will retire into a 1 bedroom council flat in a run down area where crime is rife against the elderly - if that is your aspiration then I feel really sorry for you.

While your opposite number, who buys rather than rents, is living by the sea in a lovely area of town where the only crime is the mobility scooter doing more than 5 MPH on the pavement ..... you will be cowering in fear in the corner of your council flat.

You carry on renting if that's where you desire to be ..... I'll take my bungalow by the sea and beach any day of the year, thanks all the same!

I have lived here for 20 years and spent less than £1,000 on repairs and maintenance .......... it's a no brainer.

Buy, my friends, BUY!

You AND the the guy (Chuck Norris is it?) seem to know an AWFUL lot about me and my situation and what I am and who I am and what I want and what I aspire to. You must tell me how you do this incredible mind reading of a forum member who you have NEVER MET! It's incredible. :eek:

Frankly your arrogance and ignorance knows no bounds, and I find you naive to the extreme. And before I retire from this thread, because I am finding your posts laughable now; I repeat what I said at the end of my last post:

You can rant on as much as you like about how much better off people who 'buy' are than people who rent: doesn't make it true.

That's me done. I have said all I need to say. I will let you continue to convince yourself that you're better off than anyone else in the world. :rotfl:

chucknorris

Soleil_lune wrote: »

No I do not necessarily aspire to being a pensioner on benefits. And I never said I did. So stop trying to put words in my mouth to suit your agenda. It's just that the OP is trying to make a (smug) point that HE won't/doesn't have to pay anything as the mortgage is supposedly paid, and I am saying that many people who rent (whether they work now or NOT) will have their rent paid when they are pensioners. This is a fact. Sorry if it annoys you, and doesn't suit your argument to insist that you are sooooo much better off buying; but a large amount of pensioners will have their rent paid by housing benefit.

As for the rest of YOUR post, you started buying in 1991, which was almost a quarter of a century ago. I said it's not worth buying THESE DAYS! Maybe you should read posts thoroughly before you start spouting stuff.

You can rant on as much as you like about how much better off people who 'buy' are than people who rent: doesn't make it true.

You've obviously got a chip on your shoulder, even on an internet forum I can tell that you are riled up about this. Why on earth do you think it would annoy me that people rent? I welcome it, they pay my mortgages, maintenance charges and quite a bit of profit too. I hope that they continue to do so, the last thing I want is for everyone to buy and the rental market collapses.


I have not got an agenda, actually it looks like we won't be buying any more property, we have 8 investment properties in London and that is sufficient for us, right now I am seeking diversification into shares and pension.

mrginge

Funny how people who bought at the bottom of the market twenty odd years ago and then benefitted from an unprecedented level of hpi always seem to be the ones banging on about how great it is to buy....

chucknorris

Soleil_lune wrote: »

You AND the the guy (Chuck Norris is it?) seem to know an AWFUL lot about me and my situation

I don't know anything about you, how could I? Calm down it's only a forum.

chucknorris

mrginge wrote: »

Funny how people who bought at the bottom of the market twenty odd years ago and then benefitted from an unprecedented level of hpi always seem to be the ones banging on about how great it is to buy....

When I bought investment property 23 years ago my work colleagues were laughing at me (I'm a chartered surveyor) because at the time the market was dire and some owners were even posting their keys back to their mortgage lenders and walking away from the property.

That's because it is a good investment (I never said great, historically it has been great, but past performance is no guarantee for future returns) in the long run, but I would also add that property investment isn't for everyone, you have to know what you are doing and also be willing to put the effort in. If I was younger I would invest more, but I am 56 years old, and right now I am thinking about spending (you can't take it with you) and additionally of course property is a long term investment and I may at least partly sell out in the next boom, so I don't want more property to manage, I want to enjoy life. It would be a different story though if I was younger.

MrRee_2

mrginge wrote: »

Funny how people who bought at the bottom of the market twenty odd years ago and then benefitted from an unprecedented level of hpi always seem to be the ones banging on about how great it is to buy....

EH?

I bought in the 1970's ...... I struggled just as buyers today say they do.

I paid a mortgage rate of 15% - yes, let that sink in a while ..... I moved up the ladder and now sit rent free looking at the sea from my conservatory.

Had I rented, I would not be able to live here, would not be able to pass anything on, would have to live where the council put me ...... what a horrible thing to look forward to.

So, I bought at the top of markets, at the bottom of markets, and at all points in between ..... I have rented, I have bought, I have worked all my life - not 1 single day relying on benefits.

I've been there, seen it and lived it ..... my advice is built up from decades of experiences.

Buy - be your own master when you retire, please do not risk it and rent - ending up on benefits as you will have to accept some 1 bedroom council flat ...........................

MrRee_2

Soleil_lune wrote: »

Frankly your arrogance and ignorance knows no bounds, and I find you naive to the extreme. And before I retire from this thread, because I am finding your posts laughable now

You are very angry, very mad, very disillusioned ...... I can only assume that you decided to rent and now it's too late for you to turn it around?

I'm sorry about that, and more sorry that you have thrown all that money away buying someone else's property for them ..... I will pay your benefits, don't worry. But I do require that you live in the cheapest council flat going ....... you know what they say - he who dares, wins!

Buy ..............

jaylee3

MrRee wrote: »

You are very angry, very mad, very disillusioned ...... I can only assume that you decided to rent and now it's too late for you to turn it around?

I'm sorry about that, and more sorry that you have thrown all that money away buying someone else's property for them ..... I will pay your benefits, don't worry. But I do require that you live in the cheapest council flat going ....... you know what they say - he who dares, wins!

Buy ..............

The poster said that she has been a renter AND a buyer, and she prefers renting. Funny how people read the bits they want to read when replying to a post.

Mr Ree, I am not sure whether you are incredibly full of yourself or not all there, but I have to agree that you are not living in the same world as most people in this country. The things you're coming out with are fantastical, and make little sense, and do not fit into today's society I'm afraid.

As for this:

chucknorris wrote: »

I have not got an agenda, actually it looks like we won't be buying any more property, we have 8 investment properties in London and that is sufficient for us, right now I am seeking diversification into shares and pension.

Well words fail me. I think the two of you are not living in the same world as many others, and quite frankly, much of what you are saying is utter nonsense. The two of you are talking drivel that could be very misleading to people considering buying.

I wouldn't feel sorry for anyone renting either 'Mr Ree.' many renters (particularly those in social housing,) are the ones who feel sorry for people who are buying, because they have to pay for every last thing that goes wrong with their property (and can't get it repaired for free,) and who (in many cases,) will be paying the mortgage until they die, and who have to meet that monthly payment no matter what happens in their life.

You two both sound like you're protesting too much, and trying too hard to convince everyone that buying is best. :cool: