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Rent a dream or buy a dump?

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Comments

  • Doozergirl
    Doozergirl Posts: 34,080 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    PasturesNew wrote: »
    Rent the smallest space you can bear in an OK place and buy in a less rough place in 2 years' time.

    Yes. Why does it have to be a dream or a dump?!

    Compromise for the best in the long term.
    Everything that is supposed to be in heaven is already here on earth.
  • missbiggles1
    missbiggles1 Posts: 17,481 Forumite
    10,000 Posts Combo Breaker
    Notnow wrote: »
    When I say rough I'm talking drug dealers for neighbours, your car being vandalised frequently and constant noise.

    Is the area on the way up or the way down? Does it border better areas?
  • PixelPound
    PixelPound Posts: 3,063 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I would definitely not buy if the neighbours were drug dealers and the car was frequently getting vandalised. You would end up with a house you would find hard to sell on.
  • coffeehound
    coffeehound Posts: 5,741 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Age is going to be a factor too. The older you get, the law of diminishing returns kicks-in for buying and renting might make more sense.
  • Bogof_Babe
    Bogof_Babe Posts: 10,803 Forumite
    Depends if it's just yourself, or whether you have a family who would have to run the gauntlet of the druggies etc.

    If it's just you (and probably only if you are male), I'd rent the cheapest place regardless of its state or location, and save every penny I could towards a deposit on a much better place as soon as viable.
    :D I haven't bogged off yet, and I ain't no babe :D

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    I'd do neither, even hypothetically.
  • marksoton
    marksoton Posts: 17,516 Forumite
    Notnow wrote: »
    When I say rough I'm talking drug dealers for neighbours, your car being vandalised frequently and constant noise.

    Depends how chipper you are. Unless people stand up to these people how is an area going to change?

    Mine isn't that bad but i've ruffled feathers. The improvement is brilliant. Decent residents are happier and it's now known you can't behave in an anti social manner.
  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Buy smaller, or a terraced instead of a semi, or a flat instead of a house, in a reasonable area.

    I wouldn't rent unless I was only going to be living somewhere for a short time.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • needhouseadvice
    needhouseadvice Posts: 110 Forumite
    rent, rent, rent. then save until you can afford to buy in a nicer area.
  • Hoploz
    Hoploz Posts: 3,888 Forumite
    I'm intrigued ... How can you rent the dream but only buy the dump?

    Surely the monthly rental on the Dream is going to be far more than the monthly mortgage on the Dump? It is in the places I'm familiar with, anyway.

    Buy something in between - a dump in a standard residential area. Then buy the dream later.
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