[radyag]

When you can rent. They pay A MASSIVE % of their income for years and then die. Then their ungrateful relatives get the house and immediately sell it, pocket the money and spend it on a load of shite. I simply ask, what's the point?

[irishguy]

Originally Posted by radyag

When you can rent. They pay A MASSIVE % of their income for years and then die. Then their ungrateful relatives get the house and immediately sell it, pocket the money and spend it on a load of shite. I simply ask, what's the point?

Its cheaper...?

[Uk Ltd]

So they can live in it when they are old?

Mine will be paid off before I hit 50. Early retirement is on my agenda.

[Welsh-lad]

Far cheaper than renting.
Around here anyway.

[Uk Ltd]

Originally Posted by radyag

When you can rent. They pay A MASSIVE % of their income for years and then die. Then their ungrateful relatives get the house and immediately sell it, pocket the money and spend it on a load of shite. I simply ask, what's the point?

By renting you are still paying for a mortgage, different being you are paying for someone else's.

Next time you see your landlord, ask him why he bothered with that mortgage that you are paying for. And then sit back with a nice glass of cold cider in your rented house and ask who is getting the better end of the deal.

[TigerBlood]

I'd say it's pretty obvious, and I think the only reason people don't buy is because they can't afford the deposit, or lack the job security for a mortgage.

Why would you spend £1,000 a month on renting which goes straight into someone else's pocket, when you could pay the same yourself and eventually get the best part of 70% (or whatever it turns out to be following interest rates) back again.

Seems a complete no brainer to me!

Added to that you've got security, you know that you can't be thrown out of the house at a months notice. You can also make changes to a property you own, not to one which you rent.

Although if you want to keep on renting, please feel free

[irishguy]

And theres no way I'd give it away to offspring when I get on... sell it, buy a campervan and go travelling is a much better idea

[blueblade]

Originally Posted by radyag

When you can rent. They pay A MASSIVE % of their income for years and then die. Then their ungrateful relatives get the house and immediately sell it, pocket the money and spend it on a load of shite. I simply ask, what's the point?

Well my mortgage was paid off when I was 33, and now I reap the benefits.

I will leave it to the Cat's home, so greedy relatives can boil their heads

[ganderpoke66]

Some people love having a huge financial albatross around their necks for 20-25 years.

[irishguy]

Originally Posted by blueblade

Well my mortgage was paid off when I was 33, and now I reap the benefits.

I will leave it to the Cat's home, so greedy relatives can boil their heads

Bloody hell... you lucky devil.

Was it cheap or were you earning $$$$$$$ ?

[irishguy]

Originally Posted by ganderpoke66

Some people love having a huge financial albatross around their necks for 20-25 years.

You do realise you can sell the house whenever you like...

[pugamo]

Because if you buy a house, then you own a house. Some people like owning a house. Particularly for financial and security reasons. If you pay rent, you pay rent forever and come out with nothing. If you pay for a mortgage you pay it for about 25 years then you have an asset worth a couple of hundred grand.

[pugamo]

Originally Posted by ganderpoke66

Some people love having a huge financial albatross around their necks for 20-25 years.

Rather than the financial albatross you have until you die when you have to pay rent.

[Velvet Glove]

Security - the bank won't kick you out, unless you fall behind on repayments.

Often cheaper than renting.

Not restricted in decorating/replacing the cooker, etc.

Status symbol.

[ladymoanalot]

Because I wanted to own my home and not ask for permission every time I want to decorate etc.

[blueblade]

Originally Posted by irishguy

Bloody hell... you lucky devil.

Was it cheap or were you earning $$$$$$$ ?

It was a run down wreck that I bought for relative peanuts in 1995, when I was 22. I spent the next 10 years doing it up, working tons of overtime and foregoing any real pleasure, just to get it paid off. That effort did pay off in the end.

[Trsvis_Bickle]

Originally Posted by ganderpoke66

Some people love having a huge financial albatross around their necks for 20-25 years.

Because that's exactly how a mortgage works, isn't it? You can't just sell the house and clear it, can you?

The albatross around your neck is the fact that you have to house yourself. If you're not going to be moving around the country in the foreseeable future, it is far cheaper to buy than to rent in the long term.

[irishguy]

Originally Posted by blueblade

It was a run down wreck that I bought for relative peanuts in 1995, when I was 22. I spent the next 10 years doing it up, working tons of overtime and foregoing any real pleasure, just to get it paid off. That effort did pay off in the end.

Sweet - and just before the property boom too....

It must've been nice to not have the large expenditure every month!

[-GONZO-]

Owning a house means its my house, unless of coarse I cannot keep up the mortgage payments.
If I was renting it would never be my house and I would hate to be in a situation where your landlord decides to sell up which recently happened to a friend of mine.

[Madamfluff]

Originally Posted by ganderpoke66

Some people love having a huge financial albatross around their necks for 20-25 years.

You do of course realise that you will be paying rent for a lot MORE than 25 years if you dont buy and of course you could still be paying rent long after you have retired and are living on a pension, whilst people who bought like me, now own outright and have no mortgage or rent to pay.

[Andrue]

Originally Posted by Uk Ltd

So they can live in it when they are old?

Mine will be paid off before I hit 50. Early retirement is on my agenda.

Paid my mortgage off two years ago when I was 43. So now I have thirty or more years of rent free living ahead of me

[ajman]

Because they want to have a decent retirement? If you rent your whole life then you better have a damn good pension or loads of savings otherwise your old age isn't going to be much fun.

[irishguy]

Originally Posted by Andrue

Paid my mortgage off two years ago when I was 43. So now I have thirty or more years of rent free living ahead of me

Has everyone on DS paid of their mortgage relatively quickly??? Whats the secret??

[Welsh-lad]

Originally Posted by irishguy

Has everyone on DS paid of their mortgage relatively quickly???

Because when they bought houses, house prices were at sensible multiples of average wages.

[ganderpoke66]

Originally Posted by Madamfluff

You do of course realise that you will be paying rent for a lot MORE than 25 years if you dont buy and of course you could still be paying rent long after you have retired and are living on a pension, whilst people who bought like me, now own outright and have no mortgage or rent to pay.

Point taken however, you still have insure, maintain and modernise your bought house, also the value of your house can rise and fall because of such random diverse elements as a National Recession, Housing Slump or a Young Offenders Institution being built at the bottom of your street [ WOW, what a bummer man ] .