Rent or buy? Watch

Poll: Rent a house or buy?
Rent (12)
34.29%
Buy (23)
65.71%
tom//
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#1
Report Thread starter 10 years ago
#1
Which would you prefer to do for a house/flat?

I see buying as pretty pointless to be honest, id rather have the freedom to move about, afterall, youll just lose it when you die :yep:
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JointVenture
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#2
Report 10 years ago
#2
Rent Is Dead Money, Buying Is An Investement.
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fxytimi
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#3
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#3
BUt your pouring your money into a whole, a house is an investment, for the long term.
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Jabbamuffin
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#4
Report 10 years ago
#4
I always think about this because I want to live in a flat when I move out after uni.

Probably buy though if I could, so that if you wern't working either because of being unemployed or age then rent would be one less bill to worry about..
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tom//
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#5
Report Thread starter 10 years ago
#5
(Original post by fxytimi)
BUt your pouring your money into a whole, a house is an investment, for the long term.
And if that investment loses value so do you

At least with renting if property value falls you can get a cheaper rate, whereas if you bought a house for 200k youd still have huge payments
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Aack
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#6
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#6
definately buy. Makes sense in the long run. Renting is just throwing money away pretty much....
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Clubber Lang
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#7
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#7
people seeing houses as investments is exactly why they have lost so much value recently, and will continue to do so.
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death.drop
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#8
Report 10 years ago
#8
at the moment it's supposedly worth buying as house prices are low and due to pick up in the coming years, but getting a mortgage might be difficult.

i know nothing though, this is just what my brother was telling me earlier.
:dontknow:

i'm sure you could find loads of stuff about this other places online.
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Cj-Tj
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#9
Report 10 years ago
#9
Interestly, if 2 people had £10,000 to invest in 1980, one put is as deposit on the house and another invested in the stock market, today (2008), the one who invested in the stock market would be about £50k better off even after paying rent all those years.

The model breaks down when you look at shorter periods of time, for example if you did the same model from 2000-2008 then buying wins by £75k, but over a long period of time its interesting to see that most peoples preceptions are out slightly.
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dita_parlo
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#10
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#10
I'd buy a house, but I rent a flat at the moment, and I wouldn't buy a flat.
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death.drop
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#11
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#11
(Original post by Cj-Tj)
Interestly, if 2 people had £10,000 to invest in 1980, one put is as deposit on the house and another invested in the stock market, today (2008), the one who invested in the stock market would be about £50k better off even after paying rent all those years.
doesn't that really depend on what investments they made?
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lilangel890
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#12
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#12
Buying. A) Cheap at the mo B) Get all your money back (nearly or more) when you sell, renting is throwing away money C) Can save say 8k a year opposed to spending it on rent
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laura_beth
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#13
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#13
buy, because then its yours and you own it, its yours to do with what you please
does tie you down a bit though
and you could lose money, especially if the housing market drops when you've decided to sell it
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Clubber Lang
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#14
Report 10 years ago
#14
buying is better in the long term if you wnat stability but it is about choosing the right tiem to buy and seell

there are currently lots of people with massive mortgages with houses worth less than the mortgage.
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White Rabbit
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#15
Report 10 years ago
#15
Buy to invest. I don't want to move around, I want one house that I can get just how I like it
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PinkMobilePhone
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#16
Report 10 years ago
#16
Buy, definitely. I would never like to rent unless it was totally unavoidable.
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EssexDan86
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#17
Report 10 years ago
#17
(Original post by lilangel890)
Buying. A) Cheap at the mo
It's cheaper at the moment, but you need to have about a 20% deposit to get a mortgage because the banks are so unwilling to lend!
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didgeridoo12uk
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#18
Report 10 years ago
#18
buy, houses are cheap at the moment
they are unlikely to go down in value that much now. and will as a rule generally increase in value.

renting can be crap. you may not be able to decorate your house how you like etc its just money down the drain
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Lampshade
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#19
Report 10 years ago
#19
(Original post by JointVenture)
Rent Is Dead Money, Buying Is An Investement.
That's a misconception. For starters, most new buyers will only be able to get their hands on an interest only mortgage for the first few years -- now that's dead money - with a deposit down and no further equity in the property. No thanks.

Any classical economist will tell you to rent, invest money elsewhere and use the return on the investments to offset the rent. Also eliminates things like property maintenance costs.
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Cj-Tj
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#20
Report 10 years ago
#20
(Original post by death.drop)
doesn't that really depend on what investments they made?
Yeah, sure, but its always assumed when you say "investment" that is a diversified portfolio of shares which track the market average. (IE, it follows the FTSE, so if the FTSE is said to have gone up by 2.1% then your investment has gone up by 2.1%)
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