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iLegallyBlonde

What Do You Like About Renting ?

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Just to counter balance the "I'm so glad I bought" thread.

I thought I knew exactly what we wanted/needed in a family home but having now lived in three rented houeses and hated 2 of them, it's been a really good learning experience and a lot cheaper than buying those houses and having to sell them again or being miserable.

I now know that I want the smallest house that's comfortable for us and 4 holidays a year !

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What Do You Like About Renting ?

The best bit is handing over £750 a month

Personally I can not wait to buy

The only thing I have learnt is that the rural life is not for me – not worth the £18000 it’s cost me for that information (2 years rent)

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I rent because I can't afford to buy. I would much prefer to buy a home rather than pay rent to a landlord and buy them an extra house/flat.

People talk about renting as a good strategy, cost-effective, but they're deceiving themselves. Advocates of the renting debate have life-styles that suits renting, but in short everyone's agenda is to buy a home for themselves, make it their home, be relaxed and secure it's their home, and one day own it.

Things I like about renting are:

1. Letting agencies doing quarterly inspections to report on the clensiness and how tidy your flat is - and then to get feedback saying there's too much limescale here please clean it better in future.

2. Losing water pressure due to faulty shower unit and being told to phone up water company

3. Being charged extra money for getting married and moving your wife in to live with you

4. Prospect of rental being raised

5. Guarantee you will not get your deposit back 100%, the wear and tear of the flat in some part a cost will be deducted

6. Can't changed fittings and fixtures, can't put up a picture on the wall etc. etc.

7. Having a landlord that lives in Australia

8. Paying council tax in excess of £1000 for a 1-bed flat you couldn't swing a cat in

9. Seeing the same flat downstairs let to council with single mother and child for £40 a month

RENTING is bloody fantastic - let's all do it!!!

Is this thread a wind up or what ?

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8. Paying council tax in excess of £1000 for a 1-bed flat you couldn't swing a cat in

RENTING is bloody fantastic - let's all do it!!!

Even if you bought you would still have to pay £1000 for a 1-bed flat you couldn't swing a cat in – but at least you would be allowed to have a cat – the increase on your rent was probably cheaper for your wife than if you had asked for a pet!

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Renting is much cheaper. Mortgage interest charge is money down the drain. Today mortgage interest costs are much higher (especially for larger properties) than rental costs.

Renting eliminates worry. If a motorway is built at the bottom of the garden or the neighbours are nasty, I can move within a month. If the house needs repairs, it is someone else's problem.

Renting eliminates fear. My wealth is not locked up in an asset that could take a year to sell. Selling a property in a falling market must be very nerve wracking.

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Guest muttley

Flexibility.

We lived in an area that we liked, but discovered it was impractical due to the extra time spent on the school run.We now live nearer the school.

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I don't like much about renting.

Rental properties that average Joes can afford tend to be expensive and of dismal quality - ground in grime, pollyfilla repairs, skankiness.

While rents are a rip-off int he UK compared to even expensive parts of Europe, renting is presently cheaper than buying for us. In fact buying a house like the crummy micro-sized house we rent would be a real squeeze and not really suitable for our long term plans.

I've made the right choice, but the choice on offer is pretty crummy in my opinion.

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Just to counter balance the "I'm so glad I bought" thread.

I thought I knew exactly what we wanted/needed in a family home but having now lived in three rented houeses and hated 2 of them, it's been a really good learning experience and a lot cheaper than buying those houses and having to sell them again or being miserable.

I now know that I want the smallest house that's comfortable for us and 4 holidays a year !

Why can't we have something in between owning and renting?

Say a short term lease say 2 to 15 years [bit like commercial property] buy the lease, and it can be sold on if required or renewed with the freeholders consent at the end of the term.

- Landlord happy as has a cash lump sum and an income.

- Tenant happy as can plan ahead, sell on lease if required and has a fixed rent for a period of time.

Things to consider:

- Would of course need to to have built in legal protection for both freeholder and tenant.

- Might not be easy to obtain secured finance to purchase the lease.

Just a thought.

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It’s great being able to let the wind out the sails of some flooring/double glazing/burglar alarm telesales/door to door person. “Ooh, I’d LOVE a conservatory… but you’ll have to contact my landlord first!”

If there is a problem with the house we don’t have to pay the ludicrous plumbing/ repair bills.

We can live in a lovely, expensive area where there are no shrieky neighbours, graffiti, vomit on pavements, druggies or horrible kids for the same price as buying a similar sized house IO in a REALLY CRUMMY area.

The house we are renting is a bit cramped but relatively new (about 10 years or so), is nicely decorated, nice garden, gorgeous kitchen, and was spotless when we moved in. Would never be able to afford to buy it!

As far as landlords go, ours is pretty good. Friendly, pleasant bloke, deals with problems himself (doesn’t trust the letting agency) and is there within ½ an hour if you call about something gone wrong (not often).

Doesn’t mind us putting up pictures/ replacing curtains with blinds, etc, and always comments on how great the place is looking when he comes around to help out with any problems.

We have no checkups, apart from the health & safety guy who comes once a year. Anything not right and it gets sorted out pretty quickly at someone else’s expense!

We can move when we want, without having to worry about chains or having our house on the market for months and months etc.

We will not be bankrupt and in negative equity in 3 years time!

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Free maintenance of building/services etc

No stress worrying about losing equity because of fickle interest rates/housing market

Freedom to move easily

None of the rent goes to fat cat banks in interest

Cheaper than buying

My landlord has let us decorate, have pets, negotiate lower rent, fitted a bathroom because we didn't want just a shower, paid for new TV aerial, hinted at installing central heating instead of storage heaters if we want, employed a tree surgeon to give us more light in the garden, invited us to parties, feeds our cats.

We probably lucked out, but there are plenty of aspects of renting I'll miss when I finally feel inclined to buy.

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There are two main advantages for me - one is personal, the other financial.

a.) i'm living with someone i get on with who i'm happy to hand money over to so that his life is made easier. He bought just before the bubble started and will have his mortgage paid off in the next few years. :)

b.) Secondly, that I can put away a much larger sum of money than i'd be able to normally which I can control and have an active part in investing rather than have it sitting in an account doing nothing except losing value. I'm actually gaining on those people who've mortgaged themselves to the hilt. How bizarre is that? :rolleyes:

GT.

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Paying £240/month each including council tax (in London) for 2 big rooms in house and not worrying about the upkeep/maintenance of said house. In real and nominal terms I'm paying less rent than 8 years ago. Missus has scared off all of the other housemates so the place is our own at the moment.

The reasonably sized garden means we can grow veggies. Meanwhile, the interest on my savings nearly covers one of our rents and we are saving well over a grand a month with no debts.

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Oh, but there is something: Shared ownership schemes - you buy half the house and pay rent on the other half!

<_<

Not something I would even consider.

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The flat I rent in London was bought for 560k, and my rent is about 20k p.a.

If I bought the place, put 200k down, and borrowed the remaining 360k, my mortgage payments would then be about 20k p.a

So unless you are sure prices will increase, why would I want to buy. Here I get to keep my deposit money and invest it as I like.

[And for the landlord: last tenants didnt pay rent for 9months, then disappeared, the property was unoccupied for about 8 weeks before I took it, and then the letting agent took 2 months commission. The maths dont work at these prices/interest rates]

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Not something I would even consider.

shared ownership is not a bad idea in principle...it just depends on the level of rent you pay on the rented part.............

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I'm actually gaining on those people who've mortgaged themselves to the hilt. How bizarre is that?

I hate to point this out – but only if house prices go down – someone who mortgaged them selves to the hilt will own the house in 25 years –were as you own nothing just savings which are being devalued by inflation (ie you have to make 3- 4% just to break even) – this bubble may only have just got going

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I hate to point this out – but only if house prices go down – someone who mortgaged them selves to the hilt will own the house in 25 years –were as you own nothing just savings which are being devalued by inflation (ie you have to make 3- 4% just to break even) – this bubble may only have just got going

House prices would have to rise by a spectacular amount to match what I am making from other investments.

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shared ownership is not a bad idea in principle...it just depends on the level of rent you pay on the rented part.............

So what is the level of rent? is it variable?

-You are still a slave to interest rates.

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Hello

Your experience seems odd.

The answer is simple, find a new landlord. Preferably a new bulild proprety. I appreciate in a rural setting this may be difficult. Secondly go and buy a book on basic negotiating skills.

I've been thourgh 3 landlords in the last 2 years and take great pleasure in winding them up.

Remember thesee people need you and their property to be occupied.

Do not tolerate shoddy service as the key benefit if letting is it's the landlord's job to deal with all the day to day crap houseowners suffer.

In my last property I rented I kept a handy supply of dud lightbulbs to hand and every time the landlord failed to deal with a problem I used one and called the facilites manager knowing they have to pay somebody 75.00 to come and repace it.

I have rarely heard from a landlord on inspections, did one and never saw a report. You can hang pictures if you don't drill big holes in the wall just ask it the right way.

If you worried on rent raises and think they are demanding excessive rates see my posting on the legal rules.

Unusually I can afford to buy but renting is great so make the most of it. Have some sport with your landlord wind them up and enjoy the delerium of no resonsiblity.

:D

I rent because I can't afford to buy. I would much prefer to buy a home rather than pay rent to a landlord and buy them an extra house/flat.

People talk about renting as a good strategy, cost-effective, but they're deceiving themselves. Advocates of the renting debate have life-styles that suits renting, but in short everyone's agenda is to buy a home for themselves, make it their home, be relaxed and secure it's their home, and one day own it.

Things I like about renting are:

1. Letting agencies doing quarterly inspections to report on the clensiness and how tidy your flat is - and then to get feedback saying there's too much limescale here please clean it better in future.

2. Losing water pressure due to faulty shower unit and being told to phone up water company

3. Being charged extra money for getting married and moving your wife in to live with you

4. Prospect of rental being raised

5. Guarantee you will not get your deposit back 100%, the wear and tear of the flat in some part a cost will be deducted

6. Can't changed fittings and fixtures, can't put up a picture on the wall etc. etc.

7. Having a landlord that lives in Australia

8. Paying council tax in excess of £1000 for a 1-bed flat you couldn't swing a cat in

9. Seeing the same flat downstairs let to council with single mother and child for £40 a month

RENTING is bloody fantastic - let's all do it!!!

Is this thread a wind up or what ?

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House prices would have to rise by a spectacular amount to match what I am making from other investments.

I hope they are invested well – if you had put them in property – supposedly you could have made more than 1% last month (according to hometrack / rightmove etc) – but maybe you have them in the stock market- that’s doing well – no bubble there – or maybe gold – never been higher – it’s got a long way to drop (looks like a bubble to me) – tell me what is a good investment – I can not see one in this country

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What do I like about renting?

One day, like many posters, I would like to own a property, too. But I'm not buying now; because prices are artificially and unsustainably high. So I'm renting.

What I love about it is that I am able to get out of the agreement easily. Which I think I may do... take a year off, head off round the world, visiting interesting places and enjoying some relaxation and sunshine. Meet some people who think about core life-values, instead of property prices. ;)

Price of round-the-world air ticket: £1600 - £2000.

I could probably live on £100 per week, especially if I use my intelligence and keep off the "backpacker / tourist trail."

Total price = £2000 + £5200 + £1500 (just in case - insurance, etc or emergency flight home) = £8700

If I had a mortgage, I would find doing this way too complex, or even impossible. I suppose I could always sell my house - but nobody seems to be buying them round my way now. Or I could rent it out - but who'd want to be doing that these days? Plus, I'd have to tell my mortgage lender I was renting, and they'd screw me just a bit more than usual. No thanks!

So, I consider that renting has allowed me to at least consider this idea of a life-changing trip; thus it has significantly contributed to my sense of personal liberty. Having a mortgage, to me, would restrict my sense of personal freedom. It's too much financial responsibility, in FAR too concentrated a form. In a market that is declining. That equates to unacceptable risk with my hard-earned money.

Renting is brilliant! At the moment. I'll send you a postcard.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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