Re: Why do Brits buy instead of rent?
 

Just answer the question, what do you think the monthly repayment is on a 1 million loan over 5 years? And if you are so hot on business why do you need to run to daddy and ask him?



Setting up, running and selling a business doesn't mean you have ever done it efficiently.



So are sheets of printed paper, :rofl: but I don't really see the relevance of your argument.

Re: Why do Brits buy instead of rent?
 

I can see that you guys are going to be comparing incomes soon!!

Re: Why do Brits buy instead of rent?
 

as long as they stick to incomes:rolleyes:

Re: Why do Brits buy instead of rent?
 

Apart from a tiny business involvement back in the UK, I’m no longer a player. What did I learn from my business years?

You’ve got to allow up to five percent in losses from thieving staff and other thieves from the outside. And you need a friendly bank manager or two, and you’ve got to bung them.

Don’t employ family because that will tip you over the five percent thieving allowance.

And you need an accountant that works for you and not the tax authorities.

And you will need to learn how to tell lies and keep a straight face.

If you’re an honest Joe, retrain as a plumber.

Re: Why do Brits buy instead of rent?
 

:rofl::rofl:


http://i579.photobucket.com/albums/s...hreeinches.jpg

Re: Why do Brits buy instead of rent?
 

Mmm, there is usually some correlation between the car and the... right, stop right there...

Re: Why do Brits buy instead of rent?
 

yes.............best I think:lol:

but back on topic;)



we rented when we first came here - the idea was that we'd do that until we found somewhere to buy

a couple of times we've found the 'almost' perfect place - & once even nearly bought a house we were renting

heading towards 7 years on we're still renting & sooooooooo glad that we didn't buy that house

what was 'almost perfect' for our situation (still rose tinted specs at the time) would be an absolute nightmare with the way our situation has changed

I can no longer manage lots of stairs - the house was on one level but everything else was up or down many stairs

it was a 15 min drive out of town - the now much older kids would have needed running around by car to get anywhere - here in town they can walk or cycle to everything, giving them the freedom which was one of the reasons we came here in the first place

it took us 5 years to realise which area was best for us - buying/selling/moving around wouldn't have been a problem in the boom times - but by the time we knew exactly where we wanted to be, it would have been pretty much impossible to sell that house out of town at a good price

so we're still renting & glad to be:D

Re: Why do Brits buy instead of rent?
 

An excellent post. It's not just financial issues that affect where you choose to live; you have to be aware of potential changes in health, family connections etc etc. You've given me plenty to mull over.

Re: Why do Brits buy instead of rent?
 

you're very welcome


just off for a little walk into the port & around the shops & along the seafront - then on my pushbike in the opposite direction to the supermarket for a couple of bits & bobs

the kids will be in the pool later with their mates (spanish) & we might pop over the road for drink:D

Re: Why do Brits buy instead of rent?
 

How little you know student BSer.:rofl::rofl:

Re: Why do Brits buy instead of rent?
 

:rofl::rofl:Should not call yourself madridBOY then:rofl::rofl: ,so if youve had business`s over the years why you working for someone else?
I could never do it ,even if I could find an employer:rofl::rofl:

Re: Why do Brits buy instead of rent?
 

I don't know about you guys, but I recently remortgaged my home of 18 years in the UK to buy my new home in Spain. I am not afraid to tell you that my monthly outgoings are now £355 per month.
The (slightly smaller) house next door rents for £840 per month.
If the mortgage rate goes up then I will pay more, and so will my neighbour!
Because the landlord will raise the rent to cover his loss of return compared to the bank rate or to cover his own mortgage if he is a borrow to let landlord.
At some stage I will no longer have to pay a Mortgage, but I would always have to pay rent if I was next door.
Now think about it, would you rent?

Re: Why do Brits buy instead of rent?
 

You will find in Spain it doesn`t work like that. ;);)
Also at some stage you may want to sell, then you will find out nobody wants to buy or rent your house, I will just have my choice of where to rent next.

Re: Why do Brits buy instead of rent?
 

I sort of get that it is a bit different in Spain, but the principle remains the same.
At some stage I will have no mortgage and therefore free accomodation.
That gives me more money for me.
I don't want to move every 6 months, I don't even want to move every 6 years!
Unless someone offers me a silly amount of money to move, I intend to stay.
Please understand that this is personal to me, but probably applies to a few people.

Re: Why do Brits buy instead of rent?
 

As JDR said, Spain is different, completely different. The housing market is dead and will be for years. If you're buying a property in Spain at this time, you're buying into a rapidly falling market, you're throwing your money away. The only properties selling in Spain at this time are repossessions with guaranteed 130% mortgages from the banks and probably a Mercedes thrown in for free. Or, instant negative equity for free.

Renting is the answer, with falling rents, absolute guarantees to the tenant for at least five years, or even much longer. And it's silly to consider the current mortgage rates in the UK to survive for more than a year or so. If you're paying £400 a month now, it will be back to £900 a month a couple of years down the line.