Did the fact that you are simply paying somebody elses mortgage ever cross your mind?
Don't get me wrong, renting is 'convenient', particularly when you have to move around a lot in our line of work, but I'd hardly ever be singing its praises as a concept.
Rick, Not sure what you mean. What would be 140quid? $650k translates into about a 300grand+quid mortgage in the UK.
JK - at our last house the mortgage was as cheap as the rent. The new place will have a mortgage only slightly more than renting, and it is OUR place. With renting, you have rules about dcorating, what kitchen and bathroom you have, even what utility companies you can have. Often youa re not allowed to hang pictures, and we've lied about our cat for years.
Plus, we can sell at a later date. With our last house we made 15% profit in 15 months. That scuppers the idea about renting being cheaper, eh?
Renting is a big thing in Europe on the main continent, the UK is obsessed with ownership.
Daz - I was taking the piss about the weak US currency
But if you calculate the several financial risks into it... but I am not expert, and there is certainly a huge psychologigal factor in my case too (not wanting to be tied to a place )
But overall it is sure cheaper to buy your own place in the long run, but medium to short term? ... maybe in the UK I don't know (but I doubt it)
I guess I am just too uncertain of the future to become a house owner
We bought ours 3 years ago and we just moved in last winter(brand new condo). A neighbour just sold a unit in the complex for $400 per sq/ft. That means my unit has increased in value $60k.
When you leave:
Renting-> a stack of rent recipts
Owning-> $$$$$$$
We (my wife and I) bought our place 15 years ago, and have seen it more than triple it's value in that time. I rented for a long time before then - and it sucks lining a landlord's pocket while they complain about the cost of maintenence, especially if you're living in a hellhole like Dewsbury.
Nice one Rick, I have friends in Edinburgh so I know how scarce domestic property is there.
I hate renting, my last landlord has had over £24,000 of my hard earned cash in the course of 3 years - that one hell of a chunk of house I could bought for that. Yay to rick for this.
Daz, it's funny because my wife and I are both originally from California. (She is from SF.) When we moved up here to Seattle, we were extatic to be able to purchase a house. So we bought a nice little place that needed a bit of work in a prime neighborhood for $250,000 in year 2000. The locals told us we were insane, and that the real estate bubble that was about to burst.
Page ahead to current market..., and our neighbors just a couple of doors down just sold their slightly smaller, shabbier house for $410,000.
We bought ours 3 years ago and we just moved in last winter(brand new condo). A neighbour just sold a unit in the complex for $400 per sq/ft. That means my unit has increased in value $60k.
When you leave:
Renting-> a stack of rent recipts
Owning-> $$$$$$$
Also the sweetest view of the best city in NA.
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I keep looking at that photograph and I can't figure out where the hell you are in the city?
I had to look up in my on personal aerial photographs I took when I few over toronto. Somewhere around university north of bloor, right?
Before we bought we made sure that there would be no buildings obstructing our view.
In the afternoon the sun hits the towers as it sets. Every ten minutes the view changes. It is so awesome. I agree with Vassago, I wanted a house but this place had a 600sq.ft. deck, try to find a condo with that in a major city.
[ QUOTE ]
King W and Shaw. We face the East-SouthEast.
Before we bought we made sure that there would be no buildings obstructing our view.
In the afternoon the sun hits the towers as it sets. Every ten minutes the view changes. It is so awesome. I agree with Vassago, I wanted a house but this place had a 600sq.ft. deck, try to find a condo with that in a major city.
Replies
2 bed waterfront apartment
Here is Germany it is pretty much either rent or build/buy a complete house, with nothing really in between.
"One house richer!"
Congratulations!
Daz - Ach, sure with the current exchange rate that about 140 quid?
Ta folks!
JK - living in the middle of a capitol city, there aren't really any houses.
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Sure, but what is wrong about renting... often it is 'cheaper' and less hassle anyways.
Sure, but what is wrong about renting...
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Did the fact that you are simply paying somebody elses mortgage ever cross your mind?
Don't get me wrong, renting is 'convenient', particularly when you have to move around a lot in our line of work, but I'd hardly ever be singing its praises as a concept.
Rick, Not sure what you mean. What would be 140quid? $650k translates into about a 300grand+quid mortgage in the UK.
Plus, we can sell at a later date. With our last house we made 15% profit in 15 months. That scuppers the idea about renting being cheaper, eh?
Renting is a big thing in Europe on the main continent, the UK is obsessed with ownership.
Daz - I was taking the piss about the weak US currency
But overall it is sure cheaper to buy your own place in the long run, but medium to short term? ... maybe in the UK I don't know
I guess I am just too uncertain of the future to become a house owner
We bought ours 3 years ago and we just moved in last winter(brand new condo). A neighbour just sold a unit in the complex for $400 per sq/ft. That means my unit has increased in value $60k.
When you leave:
Renting-> a stack of rent recipts
Owning-> $$$$$$$
Also the sweetest view of the best city in NA.
Nice one Rick, I have friends in Edinburgh so I know how scarce domestic property is there.
Damn, Sett... nice view.
Congrats on finding a better deal though - that's always a good feeling
Daz, it's funny because my wife and I are both originally from California. (She is from SF.) When we moved up here to Seattle, we were extatic to be able to purchase a house. So we bought a nice little place that needed a bit of work in a prime neighborhood for $250,000 in year 2000. The locals told us we were insane, and that the real estate bubble that was about to burst.
Page ahead to current market..., and our neighbors just a couple of doors down just sold their slightly smaller, shabbier house for $410,000.
Doh!
Mmmmm... Equity is good....
Congrats Rick.
We bought ours 3 years ago and we just moved in last winter(brand new condo). A neighbour just sold a unit in the complex for $400 per sq/ft. That means my unit has increased in value $60k.
When you leave:
Renting-> a stack of rent recipts
Owning-> $$$$$$$
Also the sweetest view of the best city in NA.
[/ QUOTE ]
I keep looking at that photograph and I can't figure out where the hell you are in the city?
I had to look up in my on personal aerial photographs I took when I few over toronto. Somewhere around university north of bloor, right?
Before we bought we made sure that there would be no buildings obstructing our view.
In the afternoon the sun hits the towers as it sets. Every ten minutes the view changes. It is so awesome. I agree with Vassago, I wanted a house but this place had a 600sq.ft. deck, try to find a condo with that in a major city.
We are very happy with this purchase.
http://www.rsart.co.uk/
King W and Shaw. We face the East-SouthEast.
Before we bought we made sure that there would be no buildings obstructing our view.
In the afternoon the sun hits the towers as it sets. Every ten minutes the view changes. It is so awesome. I agree with Vassago, I wanted a house but this place had a 600sq.ft. deck, try to find a condo with that in a major city.
We are very happy with this purchase.
[/ QUOTE ]
I totally guessed wrong.
My dentist is on King W and shaw