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Anyone else feel this way? Y Generation Living!

2456712

Comments

  • cwcw
    cwcw Posts: 928 Forumite
    Eliza wrote: »
    Is it? Why? We never really own a house, we just look after it a bit till we move on/die/whatever. My house has gone on for 400 years, no-one owns it as such, we're just caretakers.

    Unless of course you have children, in which case the property (or wealth derived from it) moves on to the next generation, and to their children, and so on and so on.
  • J_i_m
    J_i_m Posts: 1,342 Forumite
    Well there's more than one way to skin a cat.

    But it think relatively few are privileged enough to be able to be so flexible in employment and accommodation so relatively easily.
    :www: Progress Report :www:
    Offer accepted: £107'000
    Deposit: £23'000
    Mortgage approved for: £84'000
    Exchanged: 2/3/16
    :T ... complete on 9/3/16 ... :T
  • MobileSaver
    MobileSaver Posts: 4,217
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    hating the feeling of being tied down

    It's great that this has worked for you but you will always be in the minority. For the majority of people they would much rather be "tied down" than be in a situation where they may have to be looking for a new home with as little as two month's notice - "security of tenure" is pretty much non-existent when you're renting.
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Eliza_2
    Eliza_2 Posts: 1,323
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    cwcw wrote: »
    Unless of course you have children, in which case the property (or wealth derived from it) moves on to the next generation, and to their children, and so on and so on.

    My children have bought their own houses, they are their own people, don't depend on me any more than I depend on my own mother's money.
  • G_M
    G_M Posts: 51,977
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    Eliza wrote: »

    As the ever-wise G_M said, it's horses for courses, some people want security at any cost, others crave freedom and thrive on insecurity.

    ....


    :blushing:
  • I don't disagree, but owning property can possibly give you more freedom. We're a similar age to you, also both self-employed from home, both working part-time. If we weren't almost mortgage-free (due to amateur property developing over the past 10 years or so), the numbers just wouldn't stack up. We could just about afford to rent the house we now own, but we'd need to be working a lot more hours, and we'd have a very different life.
  • new_owner
    new_owner Posts: 238
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    I bought for the security of my family.. Once the mortgage is cleared (who wants to pay rent when they retire) I will expect the same life and more freedom..

    I like to work hard now so I don't have to latter.

    I would rather overpay on security now when I have the money than latter wishing I had.

    But horses for courses
  • Mickygg
    Mickygg Posts: 1,737
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    I just think renting is paying someone else's mortgage.

    Renting has drawbacks, you can never settle as at anytime the landlord can ask you to go.


    Freedom though is good. If rent was less I would rent for this, however my mortgage is less than I would rent my property for so buying means in 25 years I will have some security both for roof over my head and financially.


    I started renting for a few years, then worked out I had spent over £20k and had nothing to show for it, so took the plunge and bought.


    If you don't mind about not having a house fully owned in 25 years or less, want freedom and don't want to settle then renting would be the best option.
  • ukcarper
    ukcarper Posts: 17,337
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    ILW wrote: »
    I could not afford to rent the house I own.

    Its when you have finally paid off your mortgage that this really comes into its own the rent on my house would be more than my income.
  • PasturesNew
    PasturesNew Posts: 70,698
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    I'm single and rent - there's no money left over to enjoy yourself. Part of your luck/secret is being in a couple and having two minds and incomes.
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