Comparing cost of buying vs renting over the next 5 years

kingkano

I'll reply a little bit

pcwilkins wrote: »

Not at all. The only reason this might happen is if LL wants to sell, and that doesn't happen 3/4 times in 5 years. Maybe once, but we've been in our current house for 2.5 years and have just signed for another 6 months.

Not necessarily. LL wants to rent to family member, wants to move in themselves, just plain wants someone else?? They actually don't need a reason at all to not renew to you (although hopefully they would to secure the rent. 5yrs ago when I was renting it was even because they fancied some of your deposit (bonus profit eh)! I guess now it might be trickier with the deposit scheme although I'm sure it still happens (the LL mrs cleans the flat and charges you £200 cleaning charges....) The longest I ever managed to keep a property was 2yrs. Yes some people are lucky I guess....

Our LA charges us £25 a time. Even if we renew every 6 months that's still only £250 over five years --- not enough to make a huge difference.

I would argue here that you are in the lucky minority. Its over £100 at almost all agencies I asked at.... Some even have the nerve to say you have to have a checkout and checkin and pay those costs as well. Ridiculous...

Yes, but there is a difference. If you don't like a rent increase, you can move out. If your mortgage rises, it's a lot more trouble :-)

Then again you can get a 5yr fixed mortgage. You can't get a 5yr lease with fixed rent (ok you CAN but I doubt you ever would).

Not so. Post 5th April all deposits must be protected in an independant scheme. LL cannot make deductions without T's agreement. In the event of a deadlock, independant arbitration must be used.

Sounds good. hope its working out....

Agree, to some extent. Just wanted to point out that some of the factors you mention aren't that much of a big deal.

Peter

I rented for 10yrs in 2 countries and have to say I never found it pleasant, for all the reasons the anti-renters have given. To be fair I've only bought twice (and now intend on not selling again for 20yrs or something), and never been in a crash etc....

Johny_T

Badger_Lady wrote: »

A Years supply of Inoccent Smoothies quote]

More important matters....

Badger_Lady

Does a year supply of somooties come all delivered at once or do you collect on a daily basis?

These are the kind of important questions that need answers!:rotfl:

fimonkey

Not quite Badger_Lady, I can't compare like for like because there's no way I can afford a 3 bed place (lodgers factored in or not, I just would not get a mortgage that high).. so I am comparing my CURRENT financial outgoings whilst renting with my presumed financial outgoings if I were to buy what I could afford, which would be ONE/TWO bed place with no lodger.

Either way in 3-5 years time I will be looking to buy anyhow (breeding) so I was wondering whether buying now or continuing to save and buy later would be better given my current finances etc mentioned above (hence the latter question about continuing to save £350pm added to current savings, what the amount in 3 yrs time would equate to).

Of course there's the uncertainty re: HPC. I want to disregard that for the purpose of my question, I'm happy to assume HPI will remain stagnant or be only 3%

Apologies OP for taking over your post.

Badger_Lady

Johny_T wrote: »

A Years supply of Inoccent Smoothies

More important matters....

Badger_Lady

Does a year supply of somooties come all delivered at once or do you collect on a daily basis?

These are the kind of important questions that need answers!:rotfl:

You silly man I get 12 litres delivered to my office every month. Actually, they're due today by 1pm! Where are they???

Fimonkey, forgive me for getting confused - I was assuming a like-for-like quote on whether buying is cheaper than renting. I can't really help your case, I'm afraid, because there are simply too many variables and I'm not a financial adviser!

You could probably benefit from a visit to an IFA, who could properly calculate your interest etc and give you a solid idea of what you could afford and whether it would put you in a better position to breed

tr3mor

fimonkey wrote: »

I also would like to own before I begin breeding

You need a bloke too before you consider breeding.

Get a rich one and then you won't have to worry about silly little things like mortgages! :money:

Badger_Lady

Badger_Lady wrote: »

You silly man I get 12 litres delivered to my office every month. Actually, they're due today by 1pm! Where are they???

Phew! Just arrived. Orange, Mandarin and Raspberry, anyone? :beer:

fimonkey

Lol tr3mor, not always the case anymore re the necessity of blokes.. but that's a title for another thread.

Personally I've got the bloke .. good genetics/no Hx of any hereditory diseases in family/tall slender family etc etc.. but he's got zilcho money so I'll be taking on the role as breadwinner

Back to my hijack/question ... Anyone here able to help? (I saw an IFA 18 months ago who scared me half to death, tried to convince me to take out a mortgage of 5X my salary.... given current conditions now I'm SO glad I didn't listen to him)

PS where are all the smileys etc? My posts look rather droll, I'm doing the 'love' thing too, but genetics are important ;-) ;-)

[Deleted User]

Its very simple, buying to let is a bad investment. For the more savvy like me there is an investment so good that is has gone up over the last few months equivilent to 75% APR.

Its gold, sell all your assets and buy gold. Itll never let you down.

fimonkey

And where on earth on this thread has anyone mentioned Buy To Let?

[Deleted User]

fimonkey wrote: »

And where on earth on this thread has anyone mentioned Buy To Let?

Buy gold!

Over history it is a secret fact that teh gold price has gone up and up.

Unlike HPI, GPI is far superior.

If everybody in the world buys 100,000 pound of gold with a mere 90,000 loan or LTV of 90% of the gold asset then the gold will give you magical returns beyond you can imagine, you as the first will be set to make billions.

Buy gold now itll never let you down. It can only go up, man on the street say so. Gold can only bubble if the earth is at 1000 celcius.

To recap - buy gold