Been in our home since May...absolute house of horrors...

bertiewhite

Crashy_Time wrote: »

If renting you could just move out

I'm currently paying dead money to live in someone else's house whilst my purchase goes through and I can't wait to move out.

Davesnave

bertiewhite wrote: »

I'm currently paying dead money to live in someone else's house whilst my purchase goes through and I can't wait to move out.

Ah, but is it really dead money?



If, like us, you rented to get the right deal on your onward purchase, then the money was a necessary part of the process of achieving that objective.

moneyistooshorttomention

For most people rent is "dead money" whatever way one looks at it - as that rent is being paid out because one can't afford to buy a house at the time.

So - yep....most of us have no choice but to throw away a lot of our money on rent and it's often for years at a stretch. Quick calculation - 13 years worth of money thrown away on rent and I'll try not to think just how many £thousands went down the drain.

Davesnave

Given that some people will never be settled, financially reliable or earn enough to buy where they wish to, there will always be renting.

Renting puts a roof over these people's heads, so how it can be argued that it's dead money escapes me.

Nowadays, many people, including those who own their homes, rent their cars via leasing agreements. I suppose that's dead money too? For a banger driver like me, it certainly appears so, and it explains why so many seem to drive in the middle of country roads:rotfl:, but it's a choice freely made.

Squirtle17

Crashy_Time wrote: »

IME the idea that people are kicked out of rented every six months is a fantasy that people use to feel better about their big mortgage in a rising rate environment :rotfl:

I started renting a flat two years ago for £695 a month. In the two years I lived there my rent rose twice, ultimately ending up as £730 a month. When I moved out the flat I was renting was advertised for £735 and has now been let. Near identical flats in the same building are now being advertised and let for up to £775 a month.

I feel pretty comfortable now my mortgage is fixed for the next 5 years.

Niv

Crashy_Time wrote: »

IME the idea that people are kicked out of rented every six months is a fantasy that people use to feel better about their big mortgage in a rising rate environment :rotfl:

The problem is imo that a lot of people consider this a 'you are with us or against us' type situation. Renting is right for some, a need for others and not right for others.


For me, I have no intention to move areas. I need somewhere to live. I do not like the idea that I could be given notice for no reason. What is the point in renting for me? If my house were to go down in value - I do not care as I like my house and have no intention to move and the mortgage is cheaper than renting.


In all my 18 years of house ownership I can say that (for me) the cost of running the house (i.e essential maintenance that a renter would expect covered by a landlord) has been far less than the rent I could have paid to live in a very similar house.

Davesnave

Niv wrote: »

The problem is imo that a lot of people consider this a 'you are with us or against us' type situation. Renting is right for some, a need for others and not right for others.

Yes, a lot of the energy put into discussions like this would be far better used to address the real problems with renting, which are low quality standards and insecurity.

moneyistooshorttomention

Not going to happen whilst a lot of "home-owners" are having to rent (because they can't afford to buy a home) - as well as those that only intend to rent anyway.

If you know you are a "home-owner" - you are always going to be aware of that fact and are not likely to "rest easy" until you've finally bought one.

Yep......I know - it's a "class-ist" comment:rotfl: "These middle class people who think it's their god-given right to own a home etc etc (mutter mutter)" LOL.

missprice

Crashy_Time wrote: »

IME the idea that people are kicked out of rented every six months is a fantasy that people use to feel better about their big mortgage in a rising rate environment :rotfl:

I think it's rare that tenants are moved on every 6 months. But it can and does happen. And that insecurity would make me ill.
Just a possibility that it could happen and I could not live there, so I bought a house about 16 years ago with a 20 year mortgage, so I have had the benefit of living in a nice house (crap area) that no one could ever throw me out of.

That security has made my life better, the fact I bought in a crap area meant it was cheap. No rent could have come close to the mortgage payments.

Niv

Davesnave wrote: »

Yes, a lot of the energy put into discussions like this would be far better used to address the real problems with renting, which are low quality standards and insecurity.

Agreed! Even as a 'home owner' I can recognise this problem, just because I have a mortgage does not make me blind to this (last bit is not aimed at you Dave).


Personally I think that right to buy and the 'privatisation' of social housing are root causes to this. Social/council housing should not be sold of but retained for the truly needy.