Is it worth buying again or just rent

Running_Horse

One day you (or your offspring) may be grateful for a property owned outright. If there is not much equity at the moment then there is not much benefit from selling now. But in the future, who knows?

chrishar

We have bought AND rented, in the past and for the past 3 years or so have been renting a social housing cottage on the fringes of a small town, with a (very) low rent, excellent maintenance, great quiet neighbourhood, only 7 properties within 5 minutes walk, and a tenancy for life. I would never go back to buying again if you paid me.

Hi Soleil, renting would be fine if it wasn't significantly more expensive than a mortgage and if tenants had longer tenancies. It seems wrong to me that the majority of lettings are private landlords. I think there should be more social housing with fixed rents. I have a friend in London who rents from a big estate that owns several streets. It's not cheap but to me it's preferable to a private individual landlord.

Why are there so many individual landlords? Couldn't there be more 'estate' type landlords who have a full time office/maintenance team and run it as a proper service/business which could be invested in? Then all the BTL'rs could invest in one of these companies instead of all having their own second, third properties etc.

w00519772

I guess it depends where the house is and what you think house prices will do over the next few years. If you think they will rise then it may be worth renting the property and selling in a few years. If you think they will fall then it may be worth selling now.

I think the general trend is upwards which is why I am in the process of buying.

Also think about your future plans. If you sold this house now does this mean that you will pay of the mortgage on your other house more quicily and perhaps retire or become self employed? It depends on your goals for the future as well.