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goliathpie

Renting V Buying

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Will rental prices come down ? I am paying £500 p/m for a 2 bedroom flat in Midlothian......I am seriously considering buying as over 30 years thats 180grand and there is a 2bedroom flat for sale at 112grand even if its overpriced it would still be worth it ?? (there saying its 25percent cheaper than it was in 2007?) sorry for this boring topic but I want other peoples views on this point...I like renting and enjoy the freedom it brings but ime starting to wonder which is best over the longterm.

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Will rental prices come down ? I am paying £500 p/m for a 2 bedroom flat in Midlothian......I am seriously considering buying as over 30 years thats 180grand and there is a 2bedroom flat for sale at 112grand even if its overpriced it would still be worth it ?? (there saying its 25percent cheaper than it was in 2007?) sorry for this boring topic but I want other peoples views on this point...I like renting and enjoy the freedom it brings but ime starting to wonder which is best over the longterm.

I dont know, owning has its advantages and disadvantages.

But do not forget when you are doing your calculations to include mortgage interest repayments, your bargain £112,000 mortgage would cost you a significant amount over 20 years.

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Will rental prices come down ? I am paying £500 p/m for a 2 bedroom flat in Midlothian......I am seriously considering buying as over 30 years thats 180grand and there is a 2bedroom flat for sale at 112grand even if its overpriced it would still be worth it ?? (there saying its 25percent cheaper than it was in 2007?) sorry for this boring topic but I want other peoples views on this point...I like renting and enjoy the freedom it brings but ime starting to wonder which is best over the longterm.

So what happened since July 29th when you posted this?

"...anyway i rent and ime happy as a sandboy..dont really get this owner of homes carry on dont see why its so important..."

You ask if rental prices will come down - have you asked for a review? If no joy, have you considered moving or even threatening to move?

There is a lot of very good information on renting vs buying on this website - have you read it?

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