Rent a dream or buy a dump?

Notnow

I'm interested in hearing your opinion on whether you'd rather rent a lovely home in a nice area or buy a dump in a rough area to get on the property ladder. I won't say any more because I don't want to influence your answer.

cmazza

I would buy. Renting is money down the drain.

Pixie5740

It depends how long is want to live somewhere. A dump can be transformed into a lovely home but it would only be worth the time and effort if I was going to stay there for at least 5 years. However, the one thing you cannot change about a property is location.

As for the location it depends on how rough is "rough". Rough enough that not many people will want to buy your property in the future?

ravsd

Rent a dream (if I could afford it). What's the point of grinding away day to day if you can't enjoy the time you have??

Andypandyboy

Buy a dump but in a good location, no point spending good money if you can't see a return for it because it is a bad area. Or if it is a short term move rent the dream and save for the future.

Runningfast

Having rented and then owned and then back to renting and currently looking to buy again. I think the decision is easy.....BUY

The houses I have rented have always been significantly better and in nicer areas than I can afford to buy but for me there is no contest I prefer to own

marksoton

The latter.

But then i don't like middle class dullery every day. Just on occasion.

Notnow

When I say rough I'm talking drug dealers for neighbours, your car being vandalised frequently and constant noise.

Pixie5740

In that case I'd rent somewhere nicer.

Some people say rent is dead money but it's not, it pays for the roof over your head. Much better to rent somewhere you like than get into thousands of pounds worth of debt to buy some turkey you won't be happy living in and will find difficult to sell on at a later date.

Your description of the rough area conjures up the image of Viz's "22 S**t Street."

Chanes

I would say buy, but I would have a plan to be out of a bad place as soon as possible. I have lived in a bad place and when it is your money you worry about selling it on, so you must buy at a low price to help you trade for better. If you've never lived in a bad place you won't understand how ill it can make you knowing it is your home and you have to sell to move. You will wish you had rented in a nice place! So, buy cheap and have a plan if it is a toxic place to live. You could also have brilliant neighbours in a dump or rough place too and it could great! Whatever you choose I hope you have the best of luck and the best of neighbours because good neighbours are worth a great deal! I hope you never find out how great.

PasturesNew

Rent the smallest space you can bear in an OK place and buy in a less rough place in 2 years' time.