Andy Posted March 19, 2007 Report Share Posted March 19, 2007 trying for a place meself with faye,but the argument over this has arisen,the way i see it,i prefer to rent first and mortgage later because at least with renting (private renting at least) you pay your money and bang youve got your place, mortgages you have to save up a while for a deposit and so on and so forth,id rather start renting now and then put a wee bit away every week for a mortgage later on,either way youve got a place to live in etc.fayes argument is that "it wouldnt be our own/we're wasting £X a month etc", what you lot reckon? Quote Link to comment Share on other sites More sharing options...
Louis Posted March 19, 2007 Report Share Posted March 19, 2007 I'm with faye on this one.. I've rented for the past two years and it's wasted money It's been a waste of 8 grand!). Bide your time, save some money up and when you can get a mortgage the house is yours and the money you pay out is for a purpose and not lining someone elses pocket. Also.. if you want a mortgage, try and boost your credit score with things like mobile phone contracts, buy things on a credit card and pay it off each month. Quote Link to comment Share on other sites More sharing options...
Zed Posted March 19, 2007 Report Share Posted March 19, 2007 Get a mortgage mate, if your renting youll just be lining someone elses pockets, and its one of the safest investments around I wish Id started off earlier and I got my first mortgage at 24 But I think its very difficult now for first time buyers (and others) as the market has risen so much, im pretty much stuck where I am becasue I could afford (and dont want ot) the next level Quote Link to comment Share on other sites More sharing options...
TrueBlue Posted March 20, 2007 Report Share Posted March 20, 2007 Aye go for mortgage, renting is just dead money that you won't see again. I think theres more pride in owning your own house, I've rented for the past 4 years and will be renting again next year and roughly I've wasted £16,500 grand. Bloody hell didn't think it was that much good job for student loans (although I have to pay it back ) I'd love to have a house Quote Link to comment Share on other sites More sharing options...
KillaGTiR Posted March 20, 2007 Report Share Posted March 20, 2007 well im in my 2nd house now i paid $338,000 for it had $180,000 cash money made from last house i had the realestate mob come around my house 4 weeks ago to see how much it would cost now... $520,000! i own $158,000 on a house which i can sell for $520,000 we talking big bucks here bud... money well spent... and to think about it i was going to waste my money on a good car! Quote Link to comment Share on other sites More sharing options...
Louis Posted March 20, 2007 Report Share Posted March 20, 2007 What are house prices like generally in Oz? Quote Link to comment Share on other sites More sharing options...
MikeO Posted March 20, 2007 Report Share Posted March 20, 2007 I've never owned my own house sadly. Had opportunities and plenty of money but had skewed priorites for a long time in my life and now it's out of the question financially...although we're in the fortunate position that both my wife and me have fairly hefty inheritences coming our way in the (hopefully fairly distant) future so we plan to buy somewhere abroad outright at some stage. The big advantage with renting is that if the boiler blows up (Zed ) or anything goes wrong you just call up your landlord and he fixes it for you, lose your job (through no fault of your own) and the council pay your rent for you. We've also been lucky with the houses we've had...been able to decorate and personalise because we've always had good landlords who appreciate how we (er..the wife actually) look after the place. There's also a lot of dead money involved in buying a house....add up the total amount of money you pay over a twenty-five year mortgage and subtract the cost of the house and you'll have a seriously frightening figure that you've paid in interest. But I still wish I'd done it and would recommend anyone who can afford it to buy. Quote Link to comment Share on other sites More sharing options...
Andy Posted March 20, 2007 Author Report Share Posted March 20, 2007 just out of curiousity,who voted to get a batchelor pad? Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted March 20, 2007 Report Share Posted March 20, 2007 Im one of them Quote Link to comment Share on other sites More sharing options...
StevO Posted March 22, 2007 Report Share Posted March 22, 2007 i went with buying the place, my sis bought her flat down in london for 250k, 4 years later its worth 475k, now shes ready to sell and move home, she can pay off whats left on the flat and buy a house up here outright with the profits. im looking to buy an appartment to rent out while i live with the folks. 100% interest only morgage then sell on in 5years, just keep the profits. Quote Link to comment Share on other sites More sharing options...
Louis Posted March 22, 2007 Report Share Posted March 22, 2007 Good idea that StevO. I do the same except I cant cope living with my parents.. I leave things where I can find them only to find that the've been put in a drawer or thrown out! Quote Link to comment Share on other sites More sharing options...
GoldfishMemory Posted March 22, 2007 Report Share Posted March 22, 2007 just out of curiousity,who voted to get a batchelor pad? I was one, King of my castle but renting it cos I cant be arsed with the baggage of a morgage! Quote Link to comment Share on other sites More sharing options...
J*A*C*K*E*L*Z Posted March 22, 2007 Report Share Posted March 22, 2007 rent a batchelor pad is a nice settlement. Quote Link to comment Share on other sites More sharing options...
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