It is drilled into us from a very young age that buying is the only option for us. Buy buy buy. You must own a property...more than one property! How will you ever know you've made it if you dont buy?
Renting is dead money. Its just paying off the landlords mortgage, they're making money while you sit in their house paying for it.
This is very true. BUT...if something breaks...for example a boiler (£900 I believe) that is not your £900! Not at all! It costs you a free phonecall if you have free contract minutes to your landlord to come and sort it!
Ok you may have a nightmare landlord who will do everything to avoid that! But on the whole they're good people!
If you buy you can decorate, yes, you have security, yes, you can make money hopefully when the market eventually picks up! Yes..and that would be great.
But I have to say of all my friends who rent or buy...the buyers are always struggling. I never ever hear how great they're doing, I only ever hear how poor they are. And these people earn good money! More than they should in some cases! But they just cant make ends meet.
They live on credit and limited food supplies!
My friends who rent however, I never ever hear anything from them about what a nightmare they're having money wise.
I cant really work out the difference I'll be honest, as in my experience of meeting with mortgage advisers the mortgages work out cheaper than rent in some cases.
I know if things go wrong they are at the buyers cost to fix, but surely that cant be a monthly occurance (or you'd hope not)
Renting also gives you a lot more freedom. I never know where I will want to end up, so I figure if I rent and can up and leave whenever I feel like it! Although the argument is if I buy I could rent it out and move?
The argument for owning a house in old age? Well....if god forbid you need a home they sell it to pay for it?! This does not seem like a benefit to me! If you rent they will have to house you...it may not be as classier a home! Admittedly! But still?
I think the current climate also influences peoples decisions.
I have seen many people lose their jobs sadly with how things have been. And the renters are obviously upset but ultimately their rent can be paid or at least get assistance, whereas the buyers can potentially not only lose their job but the home they spent so long saving for!
Its a hard decision, maybe I'll know the right answer when the times right?x
No comments:
Post a Comment