My obsession with not buying in UK - Prove me wrong

RobHT

Thrugelmir said:

RobHT said:

steampowered said:

I would sympathise with your post if you lived in Europe - where it is very common for people to rent.

In most countries, renters have a good degree of security. You can't just be kicked out with two months' notice. You have the right to make reasonable amendments in your own home (e.g. putting up pictures). Most landlords are professional organisations, rather than total amateurs who try to spend the absolute minimum possible on upkeep. 

Unfortunately in the UK renters have very few rights. You can be kicked out on two months' notice. That might be OK for a single young person but it is not acceptable for a pensioner.

Home owners on the other hand have a lot of rights - it takes much longer for a bank to repossess a property than a landlord, plus there is support available for mortgage payments. 

In Germany, more than 50% rent 

If you knew your history then you'd know that 90% of Germany's housing stock was destroyed in WW2. People were left with literally nothing. Affordable rental accomodation was a consequence written into statue. 

90% seems overkill.
Naah, Germany works well from another point of view , I don't think the war played into that reasoning.
Plus, if the people couldn't' afford it, there wouldn't have been any good business, rental or buying.

RobHT

Schwarzwald said:

RobHT said:

Schwarzwald said:

RobHT said:

Schwarzwald said:

RobHT said:

[...]
In Germany, more than 50% rent and only for career purposes and the high cost in big cities (look at the rent limit in Berlin, against the international free market rules).

[...]

I don't see more rights in other countries for renters, it just depends from the common or custom contract the you make, that's it.

you also dont seem to actually have much knowledge about the things you write.

Tenants' rights are fundamentally different in, for example, Germany compared to the UK and one reasons, besides others, including historical reasons, that home ownership is so low in Germany and renting so prevalent.

In Germany you have such strong tenant protection that you can safely rent for decades and stay in the same property with very limited rights for the landlord to get you out, which takes away a key incentive to actually buy real estate.

[...]
Then, in Germany the house prices is much lower, I'd be tempted to buy there no matter what, and they are properly built.

Btw, the quality of life is immensively higher in Germany .

sorry dude, but that is all not true. there are economic reasons WHY house prices are lower in Germany on an absolute level. But the picture is very different when you look at % rental yields. And different when you compare cities, Berlin, Munich, Dusseldorf, Frankfurt, Dresden, Dortmund - real estate prices across these cities are wildly different.

But sure if you simply compare Berlin and London real estate prices yes you can draw simple conclusions. For simple minds. That's a simple thing to do. Just incorrect. But sure do it.

Mate, I don't care about rental yelds , I'm not investing in renting out an house .
I exactly meant the absolute overview.
In general, the life cost is also much cheaper, something that British people can't believe it, but it is.
Let's don't start talking about the better society, better tax system, not meant for the business, but meant as a social system............

you truly have no clue about how all these things are inter-linked. I agree you should not buy a property, primary reason for this recommendation: low financial literacy.

Good point, but I'm not a writer, hence the lack of literacy .

Schwarzwald said:

RobHT said:
[...]

In the worst case, I can always think to buy later if I need to, for example, at the next real estate market crash.

That's also non-sense.

As example, index price levels today at 100. If market goes up to peak at 150, the crash at 115 before recovering again, you will not be better off buying at the future through of the crash, unless your alternative utilization of capital yields far more than 15% between now and through at 115 (your levered return is >15% when asset prices increase by 15%).

A good strategy in such scenario would be to buy now at 100, release equity by re-mortgaging at 150, buy a second property at 115. But yes sure, you wait until the market crashes at a theoretical point in the future, then you are not ready to act and miss the boat again ... nice try.

That's a good point, but I don't mean it as I do in the stock market, my point was not to create s profit from it.
I was just saying that I'd buy at a better price to have less debt on my shoulders, assuming that I can still get a decent salary for the whole lifetime, or good part of it at least.

MobileSaver

RobHT said:

You need a stable job to pay a mortgage, very stable.

You need a stable job to pay your rent every month...

RobHT said:

Selling doesn't happen overnight, I hope you realise that, if you finish your cash by then you are done.

Terminating your tenancy doesn't happen overnight either, especially when most tenancies these days are a minimum 12 months.

This is one of the strangest threads ever because with every new post you are proving that your justifications are completely wrong and that your perceived benefits of renting over buying simply don't exist.

Schwarzwald

RobHT said:

Schwarzwald said:

RobHT said:

Schwarzwald said:

RobHT said:

Schwarzwald said:

RobHT said:

[...]
In Germany, more than 50% rent and only for career purposes and the high cost in big cities (look at the rent limit in Berlin, against the international free market rules).

[...]

I don't see more rights in other countries for renters, it just depends from the common or custom contract the you make, that's it.

you also dont seem to actually have much knowledge about the things you write.

Tenants' rights are fundamentally different in, for example, Germany compared to the UK and one reasons, besides others, including historical reasons, that home ownership is so low in Germany and renting so prevalent.

In Germany you have such strong tenant protection that you can safely rent for decades and stay in the same property with very limited rights for the landlord to get you out, which takes away a key incentive to actually buy real estate.

[...]
Then, in Germany the house prices is much lower, I'd be tempted to buy there no matter what, and they are properly built.

Btw, the quality of life is immensively higher in Germany .

sorry dude, but that is all not true. there are economic reasons WHY house prices are lower in Germany on an absolute level. But the picture is very different when you look at % rental yields. And different when you compare cities, Berlin, Munich, Dusseldorf, Frankfurt, Dresden, Dortmund - real estate prices across these cities are wildly different.

But sure if you simply compare Berlin and London real estate prices yes you can draw simple conclusions. For simple minds. That's a simple thing to do. Just incorrect. But sure do it.

Mate, I don't care about rental yelds , I'm not investing in renting out an house .
I exactly meant the absolute overview.
In general, the life cost is also much cheaper, something that British people can't believe it, but it is.
Let's don't start talking about the better society, better tax system, not meant for the business, but meant as a social system............

you truly have no clue about how all these things are inter-linked. I agree you should not buy a property, primary reason for this recommendation: low financial literacy.

Good point, but I'm not a writer, hence the lack of literacy .

Schwarzwald said:

RobHT said:
[...]

In the worst case, I can always think to buy later if I need to, for example, at the next real estate market crash.

That's also non-sense.

As example, index price levels today at 100. If market goes up to peak at 150, the crash at 115 before recovering again, you will not be better off buying at the future through of the crash, unless your alternative utilization of capital yields far more than 15% between now and through at 115 (your levered return is >15% when asset prices increase by 15%).

A good strategy in such scenario would be to buy now at 100, release equity by re-mortgaging at 150, buy a second property at 115. But yes sure, you wait until the market crashes at a theoretical point in the future, then you are not ready to act and miss the boat again ... nice try.

That's a good point, but I don't mean it as I do in the stock market, my point was not to create s profit from it.
I was just saying that I'd buy at a better price to have less debt on my shoulders, assuming that I can still get a decent salary for the whole lifetime, or good part of it at least.

again total nonsense.

If you dont care about making a profit, then it doesnt matter how much you pay for it, dont need to wait for a price drop.

If you want low mortgage payments, simple: buy 100% equity.

your issue is not that you dont believe in future price development, you simply cant afford, plus dont understand basic mechanics, that's not a good combination, but know it makes sense that you are so focused on bankruptcy

jimbog

As you have said in your title, you have an 'obsession' so it is unlikely you will accept any rationale 'proof' put forward 

RobHT

MobileSaver said:

RobHT said:

You need a stable job to pay a mortgage, very stable.

You need a stable job to pay your rent every month...

RobHT said:

Selling doesn't happen overnight, I hope you realise that, if you finish your cash by then you are done.

Terminating your tenancy doesn't happen overnight either, especially when most tenancies these days are a minimum 12 months.

This is one of the strangest threads ever because with every new post you are proving that your justifications are completely wrong and that your perceived benefits of renting over buying simply don't exist.

Yes, I always need a job, but I can heavily downsize, not with a mortgage .
As someone said previously, I may sell, or even release part of the equity, well if that's true it becomes very convenient, otherwise not (in terms of downsizing).
I know these are 2 different things, but I mentioned them as a potential fallback.

Every rent contract I've seen is for 6 months minimum, not 12, just private landlord scammers give 12 months.
In any case, it's always a pain, I agree, but also the mortgage, you can't easily sell when you wish.

Schwarzwald said:

Schwarzwald said:

RobHT said:
[...]

In the worst case, I can always think to buy later if I need to, for example, at the next real estate market crash.

That's also non-sense.

As example, index price levels today at 100. If market goes up to peak at 150, the crash at 115 before recovering again, you will not be better off buying at the future through of the crash, unless your alternative utilization of capital yields far more than 15% between now and through at 115 (your levered return is >15% when asset prices increase by 15%).

A good strategy in such scenario would be to buy now at 100, release equity by re-mortgaging at 150, buy a second property at 115. But yes sure, you wait until the market crashes at a theoretical point in the future, then you are not ready to act and miss the boat again ... nice try.

That's a good point, but I don't mean it as I do in the stock market, my point was not to create s profit from it.
I was just saying that I'd buy at a better price to have less debt on my shoulders, assuming that I can still get a decent salary for the whole lifetime, or good part of it at least.

again total nonsense.

If you dont care about making a profit, then it doesnt matter how much you pay for it, dont need to wait for a price drop.

If you want low mortgage payments, simple: buy 100% equity.

your issue is not that you dont believe in future price development, you simply cant afford, plus dont understand basic mechanics, that's not a good combination, but know it makes sense that you are so focused on bankruptcy

What do you mean 100% equity? Do you mean 100% mortgage?
That ain't gonna be cheap , plus it's not offered since many years in UK.

There is a big difference on the mortgage monthly cost if you buy at 250k or 350k .
I would probably buy at 250k even now, but there is nothing as such.
I could buy in another place, much cheaper, but without a job no party , I'm not gonna work from home forever, I mean, I can't rely on it, let's be serious.

MobileSaver

RobHT said:

MobileSaver said:

RobHT said:

You need a stable job to pay a mortgage, very stable.

You need a stable job to pay your rent every month...

Yes, I always need a job, but I can heavily downsize, not with a mortgage

Of course you can downsize with a mortgage, why do you think you cannot?

RobHT said:

MobileSaver said:

Terminating your tenancy doesn't happen overnight either, especially when most tenancies these days are a minimum 12 months.

Every rent contract I've seen is for 6 months minimum, not 12, just private landlord scammers give 12 months.
In any case, it's always a pain, I agree, but also the mortgage, you can't easily sell when you wish.

Most tenancies are minimum 12 months these days as this thread shows.

Of course you can easily sell a house with a mortgage, again why do you think you cannot? You can easily sell a house within 3 to 6 months via the traditional route or even within 2 months if you go down the auction route.

You have a very strange perception of what it is like to own a house and as others have said I don't think being a home-owner is for you; just keep paying off your landlord's mortgage instead and both you and they will be much happier.

RobHT

MobileSaver said:

RobHT said:

MobileSaver said:

RobHT said:

You need a stable job to pay a mortgage, very stable.

You need a stable job to pay your rent every month...

Yes, I always need a job, but I can heavily downsize, not with a mortgage

Of course you can downsize with a mortgage, why do you think you cannot?

RobHT said:

MobileSaver said:

Terminating your tenancy doesn't happen overnight either, especially when most tenancies these days are a minimum 12 months.

Every rent contract I've seen is for 6 months minimum, not 12, just private landlord scammers give 12 months.
In any case, it's always a pain, I agree, but also the mortgage, you can't easily sell when you wish.

Most tenancies are minimum 12 months these days as this thread shows.

Of course you can easily sell a house with a mortgage, again why do you think you cannot? You can easily sell a house within 3 to 6 months via the traditional route or even within 2 months if you go down the auction route.

You have a very strange perception of what it is like to own a house and as others have said I don't think being a home-owner is for you; just keep paying off your landlord's mortgage instead and both you and they will be much happier.

Downsize with a mortgage doesn't really stand, sorry...
You are comparing a very complex process to a simple one like change the location where you rent.
Yes it's possible, but not that easy.

Slithery

RobHT said:

Downsize with a mortgage doesn't really stand, sorry...
You are comparing a very complex process to a simple one like change the location where you rent.
Yes it's possible, but not that easy.

You're wrong once again....

It's possible to downsize a property when you own within a few months. If you're renting then it could be twice as long as that before you can release yourself from the contract.

Are you ever going to take any of the replies to this thread seriously or just continue spouting untrue facts?

Obsession was a good title choice. Obsessed people never actually listen to the well argued facts that prove they are wrong.

Schwarzwald

RobHT said:

MobileSaver said:

RobHT said:

You need a stable job to pay a mortgage, very stable.

You need a stable job to pay your rent every month...

RobHT said:

Selling doesn't happen overnight, I hope you realise that, if you finish your cash by then you are done.

Terminating your tenancy doesn't happen overnight either, especially when most tenancies these days are a minimum 12 months.

This is one of the strangest threads ever because with every new post you are proving that your justifications are completely wrong and that your perceived benefits of renting over buying simply don't exist.

Yes, I always need a job, but I can heavily downsize, not with a mortgage .
As someone said previously, I may sell, or even release part of the equity, well if that's true it becomes very convenient, otherwise not (in terms of downsizing).
I know these are 2 different things, but I mentioned them as a potential fallback.

Every rent contract I've seen is for 6 months minimum, not 12, just private landlord scammers give 12 months.
In any case, it's always a pain, I agree, but also the mortgage, you can't easily sell when you wish.

Schwarzwald said:

Schwarzwald said:

RobHT said:
[...]

In the worst case, I can always think to buy later if I need to, for example, at the next real estate market crash.

That's also non-sense.

As example, index price levels today at 100. If market goes up to peak at 150, the crash at 115 before recovering again, you will not be better off buying at the future through of the crash, unless your alternative utilization of capital yields far more than 15% between now and through at 115 (your levered return is >15% when asset prices increase by 15%).

A good strategy in such scenario would be to buy now at 100, release equity by re-mortgaging at 150, buy a second property at 115. But yes sure, you wait until the market crashes at a theoretical point in the future, then you are not ready to act and miss the boat again ... nice try.

That's a good point, but I don't mean it as I do in the stock market, my point was not to create s profit from it.
I was just saying that I'd buy at a better price to have less debt on my shoulders, assuming that I can still get a decent salary for the whole lifetime, or good part of it at least.

again total nonsense.

If you dont care about making a profit, then it doesnt matter how much you pay for it, dont need to wait for a price drop.

If you want low mortgage payments, simple: buy 100% equity.

your issue is not that you dont believe in future price development, you simply cant afford, plus dont understand basic mechanics, that's not a good combination, but know it makes sense that you are so focused on bankruptcy

What do you mean 100% equity? Do you mean 100% mortgage?
That ain't gonna be cheap , plus it's not offered since many years in UK.

There is a big difference on the mortgage monthly cost if you buy at 250k or 350k .
I would probably buy at 250k even now, but there is nothing as such.
I could buy in another place, much cheaper, but without a job no party , I'm not gonna work from home forever, I mean, I can't rely on it, let's be serious.

100% equity …. Is what is says, 100% equity, leaving …. 0% mortgage.

it’s the cheapest mortgage you can have if you worry about not being able to pay the Lender.

ah wait, you cant afford 100% deposit, Your bad, need to pay the bank then, cant have it all.