Wednesday, Aug 30, 2006

why buy when can rent

citv news: why buy

House prices are so expensive that their's a house on my road that is so messy and needs everything scrapped in and out the house when the price is 265.000.and to repair the property it will be another 50k so why bother buying the house when you can rent.it's easier and simpler to rent then buy your own house

Posted by orangehorse @ 05:59 PM (503 views)
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6 Comments

1. Spleeper said...

The link appears to be broken!

Thursday, August 31, 2006 09:12AM Report Comment
 

2. uncle chris said...

I AM !!!! And we are at least 500 per month better off as a result of it, not to mention the lower stress levels and ability to move on without the hassle and cost of having to sell and buy. Just had all the windows repainted .... no charge, boiler needs servicing ... no charge, garden needs tending ... included in rent, tv aerial blew down ... no charge, home insurance ... down to the landlord, emptying the septic tank .... included in rent. What's more the rent hasn't increaed since we moved in 3 years ago. There are so many BTLs out there that rents are pegged or falling. Not surprisingly my advice to prospective FTBs is to rent and gratefully accept BTL support.

Thursday, August 31, 2006 09:57AM Report Comment
 

3. Mattpascoe said...

I wholeheartedly agree with that statement, why bother spending 1,000 a month mortage on a substandard terrace house with no off road parking in the middle of chavsville which will truely eventually cost you more than 300k, when I can live in a house which superseeds the slums for 500 less per month and has a 100ft garden and not a concrete yard, off road parking in a quiet neighbourhood and with all the trimmings thrown in. Buying now is a mugs game and there is NO financial investments to be made for at least 4 decades, buy low sell high, not buy high sell high this will take many years of being stuck in a house you desparately want to move up from but cannot. 1% interest rate rise equals around a 100 extra per month on top of a 100k mortage. World interest rates going up, hmmmm let the repossessions begin. I am going to stand back and watch.

Thursday, August 31, 2006 11:22AM Report Comment
 

4. C'mon Correction said...

Me too! My girlfriend and I are renting a large two bed flat in south wales for 450 a month, our rent has been static for the last two years. In fact we're paying less than a friend who was renting 8 years ago in a smaller flat! Interest on a mortgage is 635 a month for the flat we live in, that's at the very best deal for first time buyers. Plus the market value for any property over 150k is the same as in 2004. People need to shrug off the "Renting is dead money" attitude.

Thursday, August 31, 2006 01:05PM Report Comment
 

5. Jake The Muss said...

I know of an idiot not far from me who has just bought a 2 bed flat in Southfields, 30 year interest only mortgage costing 1,100 a month. The property was described to me as a "semi do up". Most 2 beds in the area can be rented for around 900 - 1,000/month and I assume they don't need "doing up".

I've tried explaining the math but it's the same old story "capital gains, demand and supply, boom boom boom, price never go down etc etc".

Thursday, August 31, 2006 01:12PM Report Comment
 

6. The Bald Man said...

Why buy when the buy to let landlord will subsidie you. You can also buy the property at a knock-down price when he can not afford the payments on teh loan.

Thursday, August 31, 2006 02:32PM Report Comment
 

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