Tuesday, Jan 06, 2009
New Calculators Section
HousePriceCrash.co.uk: A collection of websites with useful calculators
HousePriceCrash.co.uk adds a new section on calculators.
Posted by nick vivian @ 09:26 AM (465 views) Add Comment
4 Comments
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1. str 2007 said...
I haven't gone over it in great detail but I am a little sceptical about the buy or rent calculator.
IMO the only time to rent is now. Long term it just isn't an option in this country due to high rents and poor tenancy agreements.
2. Nick Vivian said...
Keep in mind that the calculators are only calculators, and not predictors. The answer to the question of whether you should buy or rent depends on your:
- personal circumstances (salary, job security, spending)
- time horizon
- preferences for flexibility / stability
- assumptions on market movements
3. Amy said...
My favorite one is from the NY Times:
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html
It lets you adjust annual house price inflation/deflation as well as increase/decrease in cost of renting.
In America you have to pay an annual property tax which I don't think you have in the UK so I guess you just have to put in zero for that and add in the cost of stamp duty yourself.
4. Nick Vivian said...
that one is a good basic calc, but doesn't allow:
- salary input which is useful for overall wealth calc
- it assumes u stay there for ever
- doesn't allow for extra income or costs
... but most importantly, it assumes flat house price and rent changes.
As we know from the graph on HousePriceCrash.co.uk, House prices are highly cyclical due to the illiquidity of the asset