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hedi

Rent Or Buy

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i live at present in the country in sussex. a small semi cottage, two up two down with bathroom and kitchen on the back, and side entrance, parking for one car at front and patio at back. nice village, commutabe to london or gatwick. saw the sign for sale. assumed they would be asking way over the top say 240,000 . looked on the web, i was wrong 285.000.

down the road, better position, a semi three bed cottage, driveway double garage, and large garden, for rent. long term tennent wanted. 850 per month. you could get that for 800 easy. its a considerably bigger house. just as good a position if not better. so what the fkuc is going on.

why oh why would you buy . the figures make buying insane.

i know in london that rental prices are higher and closer to the buying renting argument. but in the country side around me its insane to buy. not only that who the hell is renting out at these yields.

ah, you say, the capital gain. so. only if you sell and then where do you live.

anyway thats my rant. i was quite shocked to see how much much cheaper it is to rent than buy, in the countryside at least.

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true, the house im renting is 625pcm. If i was to buy it (based on how much neighbours have sold for) my repayment mortgage would be £1,100pcm - why would i?

Are you sharing? If so what is the total rent for the house?

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true, the house im renting is 625pcm. If i was to buy it (based on how much neighbours have sold for) my repayment mortgage would be £1,100pcm - why would i?

I'm in a similar position. £750pcm rent. Same house would be about £1300.79 for a repayment mortgage over 25 years or £916.66 IO. Granted Interest only isn't too much higher, but this doesn't include building insurance and maintenance.

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Of course none of you would buy, because you would have to pay the full inflated price for the property.

However common sense tells you the current owners most likely purchased 5 or 10 years ago, so they most likely paid 50k for a property that is today 280.

The world has changed, in their haste to remove class division the Labour Party have created a new class regime that is even more devisive than the old class system.

The Owner Class, and the Renting classes.

We are going backwards, not forwards, its a shame people have not learnt from history and then maybe they would not be so enthusiastic about the changes going on today.

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i live in a place for 100 quid a month.

I sit back and contemplate buying some flea pit, dream a bit of spending more than 3.5 x earnings and buying a home for mrs jethro, then some geezer comes along and offers me a beer. I earn average wage and flat bluntly refuse to buy and spend 700-800 quid a month to live in the same sort of place i have at the mo.

beer jethro?

suits me sir, make it a double, i have money to live on, not give to a bank.........................................

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I know someone who is playing the property and rental market to take advantage of this. They sold up a couple of years ago and with the equity bough 3 sh***y terraces cheap. Not all paid for, but only a tiny mortgage. They let them out and use the income to rent a very nice large detached property for less money than they receive in rent (about 12k after costs).

They spend next to nothing on maintenance on the owned houses, have no ongoing maintenance costs on the house they live in, stay on the property ladder, and as their tenants are DHSS they have stayed long term. They don't make a significant profit of their property, but sure do have a nice home to live in.

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Are you sharing? If so what is the total rent for the house?

Not not sharing - this is total rent. Average in my area is 600-700pcm for this sort of house and nice part of east dorset too.

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  • 301 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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