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Is Rent "Dead Money"?

Is Rent "Dead Money"?

Old Apr 14th 2013, 10:52 am
  #106  
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Default Re: Is Rent "Dead Money"?

I put my current rent and what I might spend on a house in that calculator thing and it shows that buying would pay off for me after six years. If I put in the value of the house I rent it would make more sense to rent it for over 30 years.

Well I don't see rent as dead money, it is just part of my cost of living, I have nothing to show for the money I spent on food or petrol or holidays after the fact either, but it doesn't mean I didn't get anything for it.

I would like to buy something in the next couple of years though. Just to have somewhere to call our own and be in control. We have been fortunate in that we have been renting the same house since we got here, so nearly three years now.
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Old Apr 14th 2013, 11:01 am
  #107  
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Default Re: Is Rent "Dead Money"?

Originally Posted by Margaret3 View Post
Yes, its made me feel better, but the thought of moving every 1 to 2 years can be quite costly financially and emotionally.
Originally Posted by Bermudashorts View Post
I put my current rent and what I might spend on a house in that calculator thing and it shows that buying would pay off for me after six years. If I put in the value of the house I rent it would make more sense to rent it for over 30 years.

Well I don't see rent as dead money, it is just part of my cost of living, I have nothing to show for the money I spent on food or petrol or holidays after the fact either, but it doesn't mean I didn't get anything for it.

I would like to buy something in the next couple of years though. Just to have somewhere to call our own and be in control. We have been fortunate in that we have been renting the same house since we got here, so nearly three years now.
We're into our third year in Aus and on our third rental. All indications are our current landlord is in it for the long haul so

One idea that I currently have is to buy or build something more affordable near the coast somewhere and rent that out as a residential or holiday let. That way we have something for when we retire but without having to shell out every time our circumstances change accommodation needs-wise.
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Old Apr 16th 2013, 1:19 pm
  #108  
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Default Re: Is Rent "Dead Money"?

OMG I just signed the contract. Deposit taken. I have 5 business days to change my mind.
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Old Apr 16th 2013, 1:23 pm
  #109  
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Default Re: Is Rent "Dead Money"?

Originally Posted by commonwealth View Post
OMG I just signed the contract. Deposit taken. I have 5 business days to change my mind.

Congratulations!


S
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Old Apr 16th 2013, 6:54 pm
  #110  
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Default Re: Is Rent "Dead Money"?

Absolutely rent is dead money, there is no spin you can possibly put on, if you are happy to pay someone elses mortgage or have no choice then thats fine. I hated renting.
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Old Apr 16th 2013, 8:02 pm
  #111  
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Default Re: Is Rent "Dead Money"?

Originally Posted by chris955 View Post
Absolutely rent is dead money, there is no spin you can possibly put on, if you are happy to pay someone elses mortgage or have no choice then thats fine. I hated renting.
crap

all depends on what your rent is vs mortgage costs and the rate at which house prices rise vs interest made on savings

on a 95% mortgage over 25 years you'll typically pay the mortgage again in interest, that's equally as dead as renting.

Curious why all these pompous twats who "hate renting" consider renting from a bank to be any better?

Why don't you all just save up for 12 years and buy outright?
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Old Apr 16th 2013, 8:58 pm
  #112  
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Default Re: Is Rent "Dead Money"?

why does having a different opinion from you make anyone else a "pompous "twat" ? Aren't people allowed to have a different opinion from you, you pompous twat yerself
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Old Apr 16th 2013, 9:33 pm
  #113  
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Default Re: Is Rent "Dead Money"?

Originally Posted by campervanfan View Post
why does having a different opinion from you make anyone else a "pompous "twat" ? Aren't people allowed to have a different opinion from you, you pompous twat yerself
because people who rent never think they're better than people who buy, but it's not the same the other way.

bingo (who's done both on several occasions)
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Old Apr 16th 2013, 9:42 pm
  #114  
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Default Re: Is Rent "Dead Money"?

I blame Mrs Thatcher . Nobody ever had the ambition to own their own till she came along & gave them ideas above their station
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Old Apr 16th 2013, 9:46 pm
  #115  
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Default Re: Is Rent "Dead Money"?

Originally Posted by campervanfan View Post
I blame Mrs Thatcher . Nobody ever had the ambition to own their own till she came along & gave them ideas above their station
too right, damn serfs should be kept in cooncil hooses where they belong
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Old Apr 16th 2013, 10:12 pm
  #116  
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Default Re: Is Rent "Dead Money"?

Originally Posted by campervanfan View Post
why does having a different opinion from you make anyone else a "pompous "twat" ? Aren't people allowed to have a different opinion from you, you pompous twat yerself
You get used to it on here, says more about them really.
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Old Apr 16th 2013, 10:28 pm
  #117  
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Default Re: Is Rent "Dead Money"?

Originally Posted by commonwealth View Post
OMG I just signed the contract. Deposit taken. I have 5 business days to change my mind.
Well done. You'll be fine if you can handle 45 square metres. Hey its a foot in the door.
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Old Apr 16th 2013, 11:29 pm
  #118  
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Default Re: Is Rent "Dead Money"?

Originally Posted by chris955 View Post
You get used to it on here, says more about them really.
says Chris the understander of all positions

Absolutely rent is dead money, there is no spin you can possibly put on
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Old Apr 17th 2013, 12:56 am
  #119  
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Default Re: Is Rent "Dead Money"?

Originally Posted by bingobob777 View Post
says Chris the understander of all positions

Absolutely rent is dead money, there is no spin you can possibly put on
Don't bite
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Old Apr 17th 2013, 2:15 am
  #120  
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Default Re: Is Rent "Dead Money"?

Originally Posted by Beoz View Post
Well done. You'll be fine if you can handle 45 square metres. Hey its a foot in the door.
yeah. it's not too bad as i'm single and spend a lot outdoors. its a forced saving plan so to speak. i have approx 15 months to save a additional 10% deposit plus buffer to avoid the lenders mortgage insurance.
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