Why are some people on here being so smug?

neverdespairgirl

Sir_Humphrey wrote: »

South of Streatham Common station. Not exactly pretty (pebbledash everywhere), but cheap, convenient, no more unsafe than anywhere else in zone 3 (very low burglary rate) and friendly (never had neighbour problems). Not a place to live if you are a snob (which I know you are not).

I know the area - I grew up in Blackheath, but went to a school in Dulwich which drew pupils from all over south London, and had quite a few mates living in Streatham / Tooting / Crystal Palace.

izzybusy23

Leighthal wrote: »

If something goes wrong in your rented property then yes you don't have the hassle of sorting it out.But where do you think the LL gets the money to sort it out?I would think it would be from the rent money your paying.
Surely all you are avoiding is the hassle of finding a tradesman.

Yes but when I pay £575 a month rent comparable to a £900 a month mortgage payment to buy this place, I think I can safely say its £325 a month in my pocket plus no expenses to pay out for should things go wrong. Plus no hassle involved with it either. Fantastic.

So nope my old mucker, my LL isn't getting the repair costs out of my rent and would imagine she is subsidising my rent to quite a tune.

bo_drinker

She will be quids in one day and you would have helped her on her way. In the mean time you have nothing. Dead money month in month out, not for the LL though.

beingjdc

bo_drinker wrote: »

She will be quids in one day and you would have helped her on her way. In the mean time you have nothing. Dead money month in month out, not for the LL though.

Yes it is. Read it again.

The landlord's paying £900 out and getting £575 in.

That's £325 of dead money every month.

They don't even get a place to live for it.

They just own a property. And it's falling in value as well.

thriftybabe

While renting may be great for some it was not for me. I always maintained I would pay off my mortgage early. I am 37 and now living with a house of a decent size and will never need to move. For me that is a good feeling. We have security and do not need to worry about finding rent or mortgage money every month. That helps me sleep in my bed easy at night. However, i do know of others that do no agree with this. I suppose it is what is felt right by each individual.

Dan:_4

izzybusy23 wrote: »

Yes but when I pay £575 a month rent comparable to a £900 a month mortgage payment to buy this place, I think I can safely say its £325 a month in my pocket plus no expenses to pay out for should things go wrong. Plus no hassle involved with it either. Fantastic.

So nope my old mucker, my LL isn't getting the repair costs out of my rent and would imagine she is subsidising my rent to quite a tune.

Renting Sucks - and you know it Izzy.

mussgo

izzybusy23 wrote: »

Yes but when I pay £575 a month rent comparable to a £900 a month mortgage payment to buy this place, I think I can safely say its £325 a month in my pocket plus no expenses to pay out for should things go wrong. Plus no hassle involved with it either. Fantastic./quote]

[html]She will be quids in one day and you would have helped her on her way.[/html]May be ..... if they get through the next while of lower house prices and higher mortgage rates! I would not like to be in your LL position, if the figures are like that. Crazy

Buying your own home is one thing. Having bought a BTL in the hope of making money is a completely different.

However, not all landlords are recent BTLers, we do not know the true circumstances. So what if the rent paid is helping towards the actual cost. If the renter is happy, thats what counts. If not they will finds something else.

LillyJ

mussgo wrote: »

However, not all landlords are recent BTLers, we do not know the true circumstances. So what if the rent paid is helping towards the actual cost. If the renter is happy, thats what counts. If not they will finds something else.

Precisely, my LL bought 2 houses in the 70s or early 80s, and has rented them ever since and I am pretty sure from what he has said he bought them cash at the time (prob for a couple of thousand!). He went throught the 90's crash and survived out the other side.

However, sadly, he also saves money by doing nothing to the houses. Which is a shame cos some people have to live there (not me after next week!).

He gets a net income of well over £1500 a month (My rent is £750 and he told me the other one was "more expensive") so that isn't bad if you ask me, for doing sweet fa! I doubt he will sell up, as there is a steady stream of student renters round here, I have never known a house to be empty and you literally get groups of students arguing over the nice ones, then panicing and signing for the less nice ones 6 months in advance.

I bet he isn't sad he entered BTL.

wymondham

Paulos77 wrote: »

I do see it as throwing away money every month and would rather have my own home

In your shoes I'd be happy with renting - if you'd purchased recently you'd be losing thousands. At least if you rent you genuinely don't have to worry about negative equity...