Bermudashorts

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.

paulry

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.

commonwealth

OMG I just signed the contract. Deposit taken. I have 5 business days to change my mind.

Swerv-o

Congratulations!


S

chris955

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.

bingobob777

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?

campervanfan

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

bingobob777

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)

campervanfan

I blame Mrs Thatcher . Nobody ever had the ambition to own their own till she came along & gave them ideas above their station

bingobob777

too right, damn serfs should be kept in cooncil hooses where they belong

chris955

You get used to it on here, says more about them really.

Beoz

Well done. You'll be fine if you can handle 45 square metres. Hey its a foot in the door.

bingobob777

says Chris the understander of all positions

Absolutely rent is dead money, there is no spin you can possibly put on

Beoz

Don't bite

commonwealth

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.