Interesting Take On Owning V Renting........

[ToraToraTora]

https://www.bbc.co.uk/news/av/uk-england-hampshire-48667932

[Ken4155]

Very interesting, that, TTT. I have never wanted to own my own home. I saw buying, then selling and buying again as the family grows, as far too much hassle. I have rented since 1980 and have never had any problems when i needed larger, then smaller premises. I've lived in my current home now for just over 21 years and don't envisage moving. Unless a bungalow becomes available in my area at an affordable rent - currently pay £75 per week for a 2 up, 2 down terraced house.

[237SJ]

The problem with the UK is that long term good rents are hard to find (unlike Europe where most people rent) There is a real shortage in some parts of the country (SW for eg) as letting out as an Air Bnb is more lucrative.

[burlyshirley]

Own my own little house and wouldn't want it any other way. Haven't paid a mortgage for over 12 years now.

[New Judge]

If you own a house that you bought some time ago, buying it is probably the best thing you ever did. Our house is worth somewhere between 35 and 40 times the amount we paid for it (though it was a struggle for a time when we first bought it). It doesn't make us rich because relative to all other houses - should we want to move - it is still the same.

If you don't have one now, buying one will become increasingly difficult and expensive. It's supply and demand - too many people for too few houses.

[youngmafbog]

There's always two sides to the coin. Renting suits some people not others.

People should take into account the cost of ownership though. Its not just a straight rent vs Mortgage that many people do. Owning you home means maintenance and many other things such as buying/selling as Ken says.

Each to their own is what I say.

[youngmafbog]

"too many people for too few houses."

And that is only going to get worse unless the Government gets a grip on immigration and start planning infrastructure and housing plans for the next 50 years. Bet they wont though,

[ummmm]

I'm mortgage free. I wouldn't want to rent.

My son has just bought his first house (he's 24) and saved up 30k for his deposit. Well done him.

[youngmafbog]

I was once in the odd situation of paying a mortgage, renting a property(for working away), and renting out (via my company) 4 flats and five houses.

You do what you have to do.

[Smowball]

That’s amazing ummmm

[ToraToraTora]

the problem is, saving up is hard when you are paying a bag a month in Burton on trent. Hard to get that deposit together so your lad's done well ummmm.

[youngmafbog]

Its really good to see a young person proving it can be done Umm.

My youngest daughter and husband were 24 when they bought their £300K house and saved the 40K deposit required. They stayed in to do it and worked whatever hours they could.

[ToraToraTora]

£75 a week is very cheap ken for what you have, are you on some sort of historic deal? I was talking to a guy paying £900 a month for a 2 up 2 down semi the other day.

[youngmafbog]

Its possible TTT, my youngest did it, they rented for a year although as moving to a new area closer to London they wanted to ensure they knew the right place to buy.

Another example of when it is best to rent!

We let to quite a few people who were saving for a house when we were doing it.

[ummmm]

Rents are crazy. The house next door to me is rented out for £850 a month.

[burlyshirley]

The cheapest you can rent a terraced around here is £550 per month. My mortgage was only £60 per month in the last few years of paying it !

[pastafreak]

Looking at rentals for terraced here, they range from £800...on up to £3,000. (Probably also a student let) Then there are the student houses that rent for an average £450 per bedroom.

[jno]

there's a four up-four down half a mile from us going for £1000 a week. Bigger than ours (we're on one floor) but that kind of outgoing, for ever, just chills my blood. And while I do have to pay for maintenance, what happens when your landlord can't be bothered to?

[ummmm]

You only have to watch slum landlords to see the conditions some people live in.
he councilThe landlord of the house next door to us is really good, thankfully. He rented it out to students at one point, they didn't last long. I live in a street full of moaners. I'm surprised the council hasn't turned up and told me there's a weed growing outside my house. :-)

[ummmm]

My cursor is playing up!

[maggiebee]

Worked with a guy who reckoned that renting gave you mobility in the jobs market. Strangely he owned his own house and never moved for work. I worked abroad for a year and rented out my home. Worst thing I ever did, would have been better leaving it sitting empty. Cost me an arm and a leg to bring it back up to standard.