Are you buying or renting at present

PROFESSIONAL_LANDLORD

ukbondraider wrote: »

I think you are doing a smart thing my friend.

I personally think that this country is full of people who want and expect too much. I personally would never rent and never have. If I couldnt afford to buy then I would stay at home with my parents and save until I could afford to (even if that meant staying there till 40 yrs old).

However most of you want to leave your parents house at 18 and expect house prices to be affordable even if you work in a supermarket stacking the shelves. Most of you expect to be able to go traveling and take holidays on your poor average salaries and still expect house prices to be low for you to be able to buy them.

In a way I am glad prices have gone the way they have as it is somewhat helping shift society from the mentality of "I'm british so its my right to be able to do everything including buying a house even if I am a chav".

Even if prices do drop 50% as many of you are hoping for, I bet even at these prices you folks will struggle simply because of the lifestyle you expect.

Has anyone noticed that in an average area, the nice big houses are largely owned by ethnic minorities. You will find that these ethnics are either very sucessful people or they are a multi-generation family living in the same house. In such average areas, it is the chavs who are renting the small crappy 1 or 2 bed flats/houses simply because they want to live a free life. However what they fail to take into account is the consequences of this in addition to the consequences of their lavish spending.

Yeah ! you tell them , at least your not talking down to anyone !!:rolleyes:

fluff76

Although in the process of buying, I have been renting a 2 bed house with garden in London for £750 PM (cheap for the area and a good landlord !), to buy the house would cost £240,000.

You do the maths! Even with a 10% deposit the mortgage payment would far outway the rent on a repayment mortgage.

What I have done is "pretend" I have a big mortage and bank the difference that I pay in Rent, this has allowed me to save and get used to a big chunk going out each month.


I am however moving out of London, the train travel will cost more, but at least I get more house for my money and a nicer area.

Barcode

We're renting.

Even an interest only mortgage is about three hundred pounds more than what we currently pay in rent.

My girlfriend can afford to buy, but if we go that route, we will look at other flats in this development. The duplexes along the hall are bigger and very similar in terms of cost. We're contracted here until July. The LL did ask if we were interested in buying at the start of the tenancy, but it just doesn't make much sense at the moment.

regularsaver1

We are in the process of buying a property as cash buyers for £220k (from compensation/loss of earnings).

Everyone has said - ahhh what about the interest you could earn!
but we are able to get a lovely hours that we plan to live in for years and thats what the money was for after all and if we were getting mortgage on our income would not be able to buy this house - so it was a hard decision of what to do.