Rent or Buy ??

[Guadagnia]

In the everchanging financial climate in the UK, interest rates has high as they are, do you rent or buy and why have you chosen to do that ?

Or simply can you not afford to get on the property ladder ?

 

[Geordie&Bairn]

i WILL NOT RANT AND RAVE beacuse if i start to go into it i'll be writing a whole book on how annoyed i am.

ANYWAY i live in KENT
Buy a house YEAH RIGHT

I have been living in my partners dads annexe fro 2 years
cant afford a shoe box down here

 

[trixipaws]

my boyf and i bought our house in 2003 (with a mortgage) its quite a large 3-bedroom victorian town house it was only £60k when we got it, its worth £100k now so glad we got it when we did!

 

[paradysso]

i was lucky and brought a flat when i was 18 ( 8 years ago now) for 32k and sold for 72k a year later my parents lived abroad and refused to let me rent, but im glad they made me buy one now. i dont think i would be able to afford to buy now.


we now have a 3 bedroom new build in the country which is worth £190k

 

[Guadagnia]

i WILL NOT RANT AND RAVE beacuse if i start to go into it i'll be writing a whole book on how annoyed i am.

ANYWAY i live in KENT
Buy a house YEAH RIGHT

I have been living in my partners dads annexe fro 2 years
cant afford a shoe box down here

Hi Geordie Lass,
Sorry to hear this... this is one of the reasons Im thinking of moving to France/Spain.
My brother also cant afford to get on the property ladder is not fair
Hopefully, you will sort somthing out

Rgds
Guadagnia

 

[kalia]

I bought a 3 bedroom flat 2 years ago for £100k. It was a mess though I spent 10k doing it up - new kitchen, bathroom, getting the windows reglazed (keeping the original sash but putting double glazing into them), carpets, the lot. With the increase from that and in the housing market it's now worth at least 210k.

It's not that big a leap to a house from that amount but houses tend to be not that much bigger than my flat, which is annoying! I want a house with patio doors, a turret, a park-like garden and at least 6 rooms, plus 2 bathrooms and a large dining kitchen. Oh, and I want it to be a period house, I love my high ceilings I don't ask for much, do I? But OH and I would both have to work full time and after taking advice from people on PF I will stay in my current flat and work part time so I can spend more time with LO. I've offered OH a half share in my flat for £75, 000, which means he will take over the mortgage. He will probably do this when the mortgage comes up for renewal next December so I will be mortgage free!!!

 

[Bee]

I bought a studio flat when I was 18 for 25k - its just about to be valued but the ones near me have been selling for over 50k and I have been there for 5 and a half years.

I am so glad that I got a house when I was younger - I wouldn't be able to afford it now and I know that I can take the profit and put it straight back into a decent house instead of a flat.

 

[Xena]

I bought a house outright when I was 18 that was £24,500. We lived in that until this year, when my mother decided she wanted to swap houses with us.

The house swap itself was a bit of a fiasco, I won't go into details, but anyway it worked out in the end.

We swapped with my mother, and got a remortgage so that we could give my mother some money (as her house was worth a lot more than ours).

So now, she is living in our old house which she owns outright (which is now worth around £120k), and she has some money to live off.
And we are living in her old house (which is worth around £300k) and we're paying off a £60k mortgage.

So we got a good deal I'd say!

 

[Geordie&Bairn]

my boyf and i bought our house in 2003 (with a mortgage) its quite a large 3-bedroom victorian town house it was only £60k when we got it, its worth £100k now so glad we got it when we did!

100k wouldnt but you a flat in my area of Kent
we will have to move from the area to buy but the area in kent we could afford are area you would not want to bring up a child in.

 

[nickilubs]

Not quite a house boat or a caravan but I live in a chalet we rent it though. Its really cute It has one double bedroom and a tiny little one thats so small its actually classed as half a room! But it will be big enough untill the babes about 2-3. We live 3min walk to the beach too its lush! My familly think Im mental...they are probley right!

 

[Guadagnia]

Ginger Cubes..

Thats a lovely abode !

Rgds

Guadagnia

 

[Guadagnia]

I bought a house outright when I was 18 that was £24,500. We lived in that until this year, when my mother decided she wanted to swap houses with us.

The house swap itself was a bit of a fiasco, I won't go into details, but anyway it worked out in the end.

We swapped with my mother, and got a remortgage so that we could give my mother some money (as her house was worth a lot more than ours).

So now, she is living in our old house which she owns outright (which is now worth around £120k), and she has some money to live off.
And we are living in her old house (which is worth around £300k) and we're paying off a £60k mortgage.

So we got a good deal I'd say!

Xena..
You got a peach of a deal there then..
Your mum was very generous
Rgds
Guadagnia

 

[maybebaby]

We rent because there's no way we could afford to buy in Bedford. Because 1/2 the workforce commute to London we've got stupid house prices. The 3 bed bungalow opposite us sold for nearly £300k last month! We pay £575 a month on rent, I hate it and would love my own house but we just cannot afford to buy in this town.

We've considered moving but I currently live 10 mins walk from my mum & the same from my sister & I couldn't bear to be miles & miles away.

 

[Tadpole]

Can't really afford to buy at the mo - quite expensive in Devon. Luckily we rent a really nice flat, which is a converted barn, in a beautiful village - all thatched cottages, sheep & horses. We only have upstairs neigbours who are lovely as well. And there is a carpark out the back. So no rush to move really as at the mo we probably couldn't afford to buy anywhere as nice. Oh & beach is 10 mins drive down the road. (well up & down - it's at the bottom of a VERY steep hill (it is actually called Steep Hill), so not feasible to walk it.

Sorry to go on, but I have lived in some awful places & I absolutely LOVE it here. We intend to rent it for another couple of years now.

 

[Babylicious]

I bought this place (3 bed semi on the outskirts) in april 2002 and split from my ex later 2005 had to remortgage it to buy him out bought it for 60K and it's now worth about 140/150K, it's soley mine and not Seans but we are selling up this year and looking for a 4/5 bed

 

[libs]

buy

but - and don't hate me - thats because my 2 bedroom townhouse with front and back gardens only cost me ...£34k

I was a council tenant and had maximum discount when I bought. If I had bought it 12 months earlier it would have cost me only £24k put about 10k into it so far on building work, new heating/boiler, bathroom and massive new kitchen but we're nowhere near done ..and god knows when it will be now.

The one down the road with no alterations just sold for £90k

 

[Tori]

well with the avarage house price in my area at £250 i had no chance of buying a house so i went down the shared ownership route, means that i own 75% of the house as thats the morgage i could afford n then rent the other %

Its sooo bad around camb n surroundin areas atm

 

[Sarah&Braydon]

i rent at the moment
no way i could afford to buy

 

[Beany]

Removed due to deciding too personal for public viewing

 

[maybebaby]

There was an article in my local newspaper last week that said you need an average annual household income of £55,000 to afford to buy in my town. That's ridiculous!