Why Is A 44 Year Old Man Still Renting?

wotsthat

I take the view that a landlord is an expensive intermediary between the tenant and the lender of the capital which is why buying will be cheaper over the long term.

However, saying that, I'd be willing to pay a premium to be an owner just to avoid having to select a landlord. Cost aside just how do you select a landlord? Do you know how leveraged they are for example?

A couple of bad decisions, especially if you've got children, and renting could become very old very quickly.

Or maybe it's like the news and we only hear about bad landlords because they're the exception to the norm?

lisyloo

There is absolutely no argument that buying is cheaper over the long term if you're reasonably certain you're staying in one place which most people are.

Most people who rent are doing so either because they can't get a mortgage or they are economically mobile or alternatively a strongly held belief that there will be a crash.

I don't think there is hardly anyone who would argue that renting would be a good choice for families long term.

Personally I don't find (either as renter or landlord) that the roof/boiler/washing machine breaks down regularly. Surely these things are occasional occurrences.

You can know a little about a landlords circumstances or even know them personally if you're lucky. For example we knew our first lanlord was starting a business and that there was a risk she'd want the flat back if it didn't work out (which was what happened). If we'd have a family we might not have chosen that landlord. Of course they might not be willing to tell you anything but you still have the option to accept/reject on the basis that they won't share any information from which you might infer it's mot positive news.

I do believe there are slum landlords taking advantage where laws are not being enforced and the tenants are not very well equipped financially or educationally to fight. However I think this is only happening at the bottom of the market. If I had rats or damp as a professional then I'd expect to have the resources to get it sorted and pursue the landlord for my losses if it came to it.

TheeMaskedTurnip

mayonnaise wrote: »

Interesting thread, interesting insight into the HPC mind.


ouch.


ouch.

HPC forums should come with a health warning:
HPC forums are addictive and can cause serious damage to your financial and mental health.

There surely is so many bitter and twisted characters on that site. On a positive note it's great that they flock together so the relevant authorities can keep tabs on them.

Crashy_Time

zarf2007 wrote: »

The difference is though that renting in the UK is not the utopia renters will have you believe:

1) Free to move whenever you like

Sure, and the landlord is also free to kick you out if they decide to sell or don't like you complaining about their job as a landlord. Think of the thousands in moving/deposits each time you move...not to mention the stress....and if you rent and have kids of school age its hardly ideal moving them from one school to the next.....

2) Free Maintenance

Yeah if you count doing things as cheaply as possible so as not to dip into the rental income and also refusing to do anything expensive unless they absolutely have to.....even then they can just serve you with a S21 in most cases rather than fork out for any major works, some other mug will accept the place in its current state.

3) Not being able to make changes to make it your home

Who in their right mind would pay for a new kitchen or redecorate when they could be kicked out of their rental home on a whim? not to mention the little things like hanging pictures which are frowned on.

Tbh until they bring in lifetime tenancies then the rental market is really only suited to 20 somethings who like the freedom to move around, for anyone else its and expensive pain in the @ss for little return.

Not my experience, last flat I had for 7 years, present one says they won`t sell and won`t raise rent, and a past house I rented we were given TWO YEARS notice of a possible sale (developers) and it ended up being nearly three years before we actually got notice to quit, and of course the agent (who needs to eat too) was straight on the phone/e-mail with offers of more suitable property almost straight away. Some people will have renting horror stories, many won`t, if you are cash rich and keep an eye on the local rental market you should be able to find yourself decent accommodation any time, London may be different, but it is up to people in London to change that, I don`t really care about London.


And BTW if having a mortgage was the route to happiness and security there would be a lot of very happy joy filled little bunnies hopping around the UK, unfortunately a stroll down any street in the country puts that myth to rest doesn`t it, people know they are getting shafted by banks and corporations at every turn nowadays?

lisyloo

We found accomodation in London in 2 days. You just need to be realistic and decisive.

In what way are mortgage holders getting shafted by banks?
Some of us have some pretty excellent deals and are even being paid to hold mortgages (for example I have 0.99%). Of course some people have less good deals which presumably they chose. Can you explain what you mean?

Crashy_Time

wotsthat wrote: »

I'm thinking of renting (shhh!) 4 months of the year outside the UK and, so far, the Algarve is at the top of the list.

What's the thinking with Porto? I like it but find it a bit grey and wet in winter compared to further South. If that's your thing I've also considered Galicia, potentially to buy and live there, because it's cheap, quiet and the coast is like Cornwall without the tourists.

Also, they've built an amazing white elephant airport at Santiago - I got dropped off by taxi and thought it was shut it was so quiet.

Less tourists, less busy than Lisbon/Algarve, cool enough place for a three or four day visit IMO, used to be considered good for night life among locals, but no idea what it`s like now, and yes maybe not the best temperatures at this time of year, but probably better than Scotland?

wotsthat

Crashy_Time wrote: »

Less tourists, less busy than Lisbon/Algarve, cool enough place for a three or four day visit IMO, used to be considered good for night life among locals, but no idea what it`s like now, and yes maybe not the best temperatures at this time of year, but probably better than Scotland?

I thought you meant something longer term. Yes, nice place for a long weekend though.

Depends what you want to do. The Algarve is pretty quiet this time of year and usually 3 - 4 degrees warmer than the North.

mwpt

Porto is an interesting place to visit but I would not like to live there or the surrounding suburbs. It just feels a bit run down to me, I'd get depressed. Maybe I'm a snob.

zarf2007

Crashy_Time wrote: »

Not my experience, last flat I had for 7 years, present one says they won`t sell and won`t raise rent, and a past house I rented we were given TWO YEARS notice of a possible sale (developers) and it ended up being nearly three years before we actually got notice to quit, and of course the agent (who needs to eat too) was straight on the phone/e-mail with offers of more suitable property almost straight away. Some people will have renting horror stories, many won`t, if you are cash rich and keep an eye on the local rental market you should be able to find yourself decent accommodation any time, London may be different, but it is up to people in London to change that, I don`t really care about London.


And BTW if having a mortgage was the route to happiness and security there would be a lot of very happy joy filled little bunnies hopping around the UK, unfortunately a stroll down any street in the country puts that myth to rest doesn`t it, people know they are getting shafted by banks and corporations at every turn nowadays?

believe me your experiences of renting are rare....and as for your last paragraph, did you survey every person with a miserable face to see if they owned or were renting? if not then I suggest you get back to the the HPC board and keep listening to that part of the song you have pre-programmed in your ipod......'Reality used to be a friend of mine'.

zarf2007

lisyloo wrote: »

We found accomodation in London in 2 days. You just need to be realistic and decisive.

was that with 2 kids in toe? thought not.