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Why do you rent?
macaque_2
Posts: 2,439 Forumite
The brits have a particular passion for home ownership but on the continent many people like to rent.
Why do you rent? 39 votes
Cannot afford to buy
38%
15 votes
Do not want to buy at current prices
43%
17 votes
Prefer renting
7%
3 votes
Renting is only a temporary measure
10%
4 votes
0
Comments
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The brits have a particular passion for home ownership but on the continent many people like to rent.
I think a lot of the current home owning mania is down to the fact that no-one trusts pensions any more and many people don't understand the basics of saving and investing.
On the other hand, everyone understands that you've got to live somewhere, there's a misguided sentiment that 'property prices only ever go up' and cheap and easy credit has facilitated ever high prices for property. Basically, the man in the street looks to his house to be something that's going to make him money and provide a private space.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Cant afford to buy and dont qualify for social housing, this is the only option left
Cate0 -
I am renting at the moment because I am not sure where I want to go with my career. That may mean a move to another location so want to keep my options open.If you are at a poker game and you cannot figure out who is the patsy then guess what...you're the patsy - Warren Buffet0
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I'm renting at the moment because me and my girlfriend don't want to splurge our big deposit and good wages on a crappy terrace!
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In Germany all properties have sale tax of at least 3.5%, solicitors fees (fixed) of 1.5% and estate agents fees of 6-7%. So you need 12% without having paid for a brick or interest hence the renting culture. Tenants have far more security of tenure than in the UK also. With far lower fees, no security of tenure and a well developed mortgage market it's much easier and attractive to buy in the UK. That's why we have a buying culture.0
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well... I have no idea how to vote as for us renting is only a temporary measure because we don't want to buy at current prices!
“A journey is best measured in friends, not in miles.”
(Tim Cahill)0 -
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