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cheaper to rent than buy

  • 02-01-2007 2:00am
    #1
    esperanza
    Closed Accounts Posts: 689 ✭✭✭


    Taking inflation into account, is it cheaper to rent or buy in ireland right now?


Comments

  • #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,260 Mod ✭✭✭✭godtabh


    esperanza wrote:
    Taking inflation into account, is it cheaper to rent or buy in ireland right now?


    The monthly repayments on a home loan would be dearer tha paying rent i would imagine


  • #3
    Calina
    Registered Users, Registered Users 2 Posts: 8,219 ✭✭✭Calina


    It depends on where you want to buy or rent in Ireland. Certainly in Dublin, unless you have a fairly massive deposit, rent is noticeably less expensive.


  • #4
    hmmm
    Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭hmmm


    As you've mentioned inflation, I'm guessing you're asking whether you will save money renting rather than buying. That really depends on your expectations for house price appreciation. If you're part of that crowd who believe house prices will rise by 10% p.a. indefinitely, stop reading this now and go buy a house. If you don't believe they can keep up that rate, then paying a mortgage rather than renting is paying a lot of dead money to the bank.


  • #5
    miju
    Banned (with Prison Access) Posts: 8,483 ✭✭✭miju


    hmmm wrote:
    then paying a mortgage rather than renting is paying a lot of dead money to the bank.

    you mean mortgage interest is dead money too :eek: :eek: :eek: :eek: never would have thought that :p


  • #6
    Idleater
    Registered Users, Registered Users 2 Posts: 6,176 ✭✭✭Idleater


    miju wrote:
    you mean mortgage interest is dead money too :eek: :eek: :eek: :eek: never would have thought that :p

    It's not. It is paying money for a service ;)

    L.


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