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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Anyone else feel this way? Y Generation Living!
Comments
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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.0 -
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 ... :T0 -
MoverShaker wrote: »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 Years0 -
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.0 -
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.0
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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 courses0 -
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.0 -
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.0
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