Buy now vs buy in a few years?

TroubledTarts

https://forums.moneysavingexpert.com/discussion/comment/82020074#Comment_82020074

What period are you suggesting the ocmparison

You need a home for life so rent from 18-75(very conservative)

Compared to a similar property that can normally be bought and paid for in 25 years.

You can't just take one years rent Vs purchasing and those costs to buy turn into miniscule amounts over the decades you need somewhere to live.

But yes I get your point say £1000 rent actually only say £900 is what could be termed wasted money with £1200 paid to the landlord to keep things working.

Herzlos

https://forums.moneysavingexpert.com/discussion/comment/82020074#Comment_82020074

Rent is "wasted" compared to a mortgage in that both places provide you somewhere to live, but the mortgage allows you to build equity in it and will eventually be fully owned. It has it's uses, like if you don't want the hassle of ownership, or it's relatively short term.

Maintenance sounds like an added cost for ownership, but landlords aren't charities so you're still paying for it just via rent than directly. Often renting you're paying the landlord mortgage + maintenance + profit, though if the landlord has the property fully paid off it may work out cheaper.