£200k inheritance, property ladder or not?

Herzlos

kempiejon said:

Herzlos said:

Do you have links to both?

And if I shared so what?

Then I'd have something to look at to confirm you were correct.

kempiejon

Ow. Then you do me a disservice in thinking my point could be untrue. 
Is it really such an outlandish premise that there could be a property with a monthly rental that is lower than the cost of servicing a mortgage on a similar property in a similar area? You think that's impossible.

There are dozens of posts on this thread saying "just buy" it's a "no brainer." The prevailing opinion is that buying is he only game in town. And while I could find a couple of similar properties to show the premise is false and I have said you could do the same. So what?

horsewithnoname

ReadySteadyPop said:

Herzlos said:

But you leave a rental, where are you going?

Are you saying that people can`t, or never leave rentals?

Generally if they are able to get another rental. And that’s a big if for many, or if they are buying a home or if they are moving to a six foot box. 

Unless they fancy living on the streets of course. Doesn’t appeal to me, but horses for courses. 

ReadySteadyPop

Herzlos said:

kempiejon said:

Herzlos said:

Do you have links to both?

And if I shared so what?

Then I'd have something to look at to confirm you were correct.

Did you look at their articles saying that renting is now cheaper than mortgage debt?

ReadySteadyPop

horsewithnoname said:

ReadySteadyPop said:

Herzlos said:

But you leave a rental, where are you going?

Are you saying that people can`t, or never leave rentals?

Generally if they are able to get another rental. And that’s a big if for many, or if they are buying a home or if they are moving to a six foot box. 

Unless they fancy living on the streets of course. Doesn’t appeal to me, but horses for courses. 

 This isn`t realistic for many reasons, here is one.

https://www.msn.com/en-gb/health/familyhealth/number-of-youngsters-living-with-parents-rises-by-more-than-a-third/ar-BB1rfNkc

I can see difficult times ahead for landlords to be honest, especially recent entrants to the BTL sector who used large debt to buy properties.

Herzlos

ReadySteadyPop said:

Herzlos said:

kempiejon said:

Herzlos said:

Do you have links to both?

And if I shared so what?

Then I'd have something to look at to confirm you were correct.

Did you look at their articles saying that renting is now cheaper than mortgage debt?

We discussed it a few pages ago. Did you get any examples where rent was actually cheaper?

Herzlos

kempiejon said:

Ow. Then you do me a disservice in thinking my point could be untrue. 
Is it really such an outlandish premise that there could be a property with a monthly rental that is lower than the cost of servicing a mortgage on a similar property in a similar area? You think that's impossible.

I believe it could be true, I just haven't personally seen it. I thought if you'd seen an example recently, it'd be easy enough to share it.

The best comparison I can find so far is flats around West Princes Street, Glasgow because it's a long street and there's always something for sale/rent. Theres a 3 bed for sale for o/o £310k with an estimated mortgage of £1631: https://www.zoopla.co.uk/for-sale/details/69141943

There's an equivalent 2 bed for rent for £1350/month: https://www.zoopla.co.uk/to-rent/details/68831403

Or a 4 bed equivalent for £3000/month: https://www.zoopla.co.uk/to-rent/details/69185380

So not directly comparable but the bought one is notably cheaper per bedroom, plus in Scotland offers over probably means it'll sell for about £330k.

I'm sure there are plenty of examples that prove your point, I just haven't found any yet and frankly don't have the energy to dig into it too much.

kempiejon said:

There are dozens of posts on this thread saying "just buy" it's a "no brainer." The prevailing opinion is that buying is he only game in town.

Because that advice is usually correct in the context of the question asked. If someone said "I'm going to be working in Manchester for 1 year then going abroad, should I rent or buy?" the answer would obviously be rent.

kempiejon

Herzlos said:kempiejon said:

There are dozens of posts on this thread saying "just buy" it's a "no brainer." The prevailing opinion is that buying is he only game in town.

Because that advice is usually correct in the context of the question asked. If someone said "I'm going to be working in Manchester for 1 year then going abroad, should I rent or buy?" the answer would obviously be rent.

But is it though? Why not buy that what you can afford in Manchester, live there for a year, move abroad, bcome a landlord and rent it out. If you come back to the UK and organise your tenant you'll have a property to move into.
See renting isn't the only option even with that secific example.

kempiejon

https://www.rightmove.co.uk/house-prices/details/england-150542858-94493745?s=f29bb3f7e4f7537b441942b9a26fd96291074340b7775ff22906c29f2a082b31#/
4 bed detached bungalow, last sold 2024 £460000.
property value is £460,000, loan amount is £420,000, term is 25 years

5 Year Fixed Mortgage Guarantee Scheme.
£2,574.15 (62 months)			5.48% until 31st March 2030	6.74% variable for the remaining term *

The rental at £1600 looks better has ensuite and you're a grand a month better off.
https://www.rightmove.co.uk/properties/154443737#/?channel=RES_LET

Herzlos

kempiejon said:

Herzlos said:kempiejon said:

There are dozens of posts on this thread saying "just buy" it's a "no brainer." The prevailing opinion is that buying is he only game in town.

Because that advice is usually correct in the context of the question asked. If someone said "I'm going to be working in Manchester for 1 year then going abroad, should I rent or buy?" the answer would obviously be rent.

But is it though? Why not buy that what you can afford in Manchester, live there for a year, move abroad, bcome a landlord and rent it out. If you come back to the UK and organise your tenant you'll have a property to move into.
See renting isn't the only option even with that secific example.

It's an awful lot of hassle to go through with buying and then renting out from abroad though. Especially compared with just the cost of renting.