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Amount of rent paid
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http://uk.news.yahoo.com/skynews/20080125/tbs-higher-mortgage-costs-forcing-more-p-327c223.html
The review, published by the Chartered Institute of Housing and the Building Societies Association, said this had led to it being "substantially" cheaper to rent a property than to buy one.
Rents are around 64% of mortgage costs on comparable properties.0 -
That's still good for Cherry Hinton. We are paying £730 for a 2-bed flat in central Cambridge, we've been here for 3.5 years.King_Of_Fools wrote: »I am currently renting a 2 bed house for £600 per month... in Cherry Hinton
It's a lovely flat but we are looking for something cheaper and it looks like we'll have to downsize to a 1-bed for around £650. It must be within cycling distance of the centre as we don't have a car, so that limits us. We actually found a couple of 2-beds for £650 last year but they had NOWHERE to lock our bikes up safely. Can you believe that in Cambridge!
We are saving £500 a month towards a mortgage too. I'm hoping prices will drop enough for us to get a 2-bed in driving distance for 80-100k plus deposit.
Very interesting thread btw, OP.0 -
To i`ve seen the light. Initially I wasn`t going to buy but then when I sold my house I knew I couldn`t trust myself not to fritter the money away. It is a repayment mortgage. If and when interest rates start dropping then I should eventually get back to the same postion as before.0
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King_Of_Fools wrote: »Rents are around 64% of mortgage costs on comparable properties.
Maybe its time to put the rent up
I guess this means that being a Landlord will be quite a stable investment until there is a crash / stagnation / wage increase so that this percentage is much nearer the 100%:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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