Happy to rent or Buy ??

Ricardo G

Just wondering how many of you will be quite happy to rent for the rest of your lives, I was in a position to buy approx 5 years ago and i'm glad i did'nt as i lost my job and i know deep down i'd never have been able to pay for it. I am now working again but tbh i am on such a standard wage that i know i'll never be in a position to actually buy (or would'nt put myself under that pressure) I can safely say i'd be content enough to rent for the rest of my life. I'm 30 this year and my other half is doing a degree in something that aint gonna make both of us a whole lot of money (regardless of the economy) so i accept the fact we might never be in a position to buy !!
Just curious about the rest of the Boardsie's ??

Monife

If I had enough for the deposit (or the the 8% the bank want you to pay) I would definitely buy.

Prefer a place you can call home and do what you want with.

Dont mind renting either but definitely would not like to do it for the rest of my life.

The OH lost his job and I am on a meagre public servant wage (I am also only temporary til the middle of 2012). So we would probably not be in a position to buy for at least 5 years or more which is depressing.

Ghost Estate

the only way that would make sense if you don't stay in the same place for too long. which isn't a bad way to live i suppose

Celly Smunt

I don't understand why Irish people NEED to buy their house,the excuse has always been "renting is dead money",but as we've seen people have lost more value in their houses in the last two to three years than what they wouldve spent on rents in 15 years.

SoulTrader

I'll happily rent until I can put at least a 70-80% deposit on a house. That will be quite some time away.

Snakeblood

Ricardo G wrote: »

Just wondering how many of you will be quite happy to rent for the rest of your lives, I was in a position to buy approx 5 years ago and i'm glad i did'nt as i lost my job and i know deep down i'd never have been able to pay for it. I am now working again but tbh i am on such a standard wage that i know i'll never be in a position to actually buy (or would'nt put myself under that pressure) I can safely say i'd be content enough to rent for the rest of my life. I'm 30 this year and my other half is doing a degree in something that aint gonna make both of us a whole lot of money (regardless of the economy) so i accept the fact we might never be in a position to buy !!
Just curious about the rest of the Boardsie's ??

I bought an affordable housing apt. in 2007, just managed to sell it recently and managed to pretty much walk away from it (granted with no savings or anything). I think anyone who buys within the next 10 years is severely misguided (like I was). I'd consider it after that but I think i'd be a bit less likely to take an estate agent or families word for what constitutes value or a good idea.

I think you will be able to buy, prices will drop with the catastrophic failure of the economy, mortgage default and the gradual removal of rent supplements by the government will drive down rental and accomodation prices to something like an acceptable level.

It's really going to blow for people who bought recently of course.

Aoifey!

I'd be happy to rent for a certain length of time, but when (hopefully in the far future), I decide to settle down with a family I'd like to buy and have a place of my own. But that's just me, each to their own and all.

Asphyxia

For now I'm happy renting it's not too pricey and my location is perfect. I wouldn't want to rent for the rest of my life though, I prefer to have a place that I can call my own.

Mr Benevolent

Renting is cheaper in the long run. If you lease a place you can paint walls etc, and you do have security of tenure. Basically,the disadvantages of renting are perceived, not real.

Ricardo G

Pocketfizz wrote: »

For now I'm happy renting it's not too pricey and my location is perfect. I wouldn't want to rent for the rest of my life though, I prefer to have a place that I can call my own.

Agreed, and my only concern is the fact that you may have to move an inconvenient amount of times through your life !! Would love the idea of owning my own place but so long as i have a comfie solid roof over my head i'm not too pushed !!

Captain Darling

The older thinking was that you were nothing if you didnt own a house. That doesnt really stand up anymore because the arse has fallen out of the housing market.

All it does nowadays is saddle you with debt and there's a whole lot of people in negative equity.

Renting longterm may become a bit of a sh1tter when you come to retirement age, all this saving lark is all well and good but when sprogs, college fees etc come along the ole nest egg will get depleted. Of course the wages are being depleted anyway which will look after lots of nest eggs anyway. Personally I wouldn't fancy being in my 60s without owning a house unless I had three decades of rent saved up along with another lash of money or decent pension income aside from the state pension, who know what that will be the way things are going.

Proxy

I honestly can't imagine being able to afford a house, ever. In time (as in, 25+ years), i'll try to build on the bit of land I have.

alwaysadub

I would like to have my own house at some stage if/when i settle down and start a family but i'm happy renting for now and the foreseeable future. Love everything bout the house i'm in now and my landlord is so sound so i'm quite lucky so far.

stick shooter

Well i bought the house i am in ,well i am only delighted with the house could not be happier:D

lolli

We've just bought a 4 bed detatched house for 150k, they were selling for 320k when they first went on the market. We are delighted with the price we got it for.

I have a site also but it was cheaper to buy this house so we will build our dream house in a few years when finances are better.

starbelgrade

I own my own house. It's great not to have to pay a landlord every month to live in his property.

Maybe it's an age thing, but at some stage in your life, it's nice to have a home to live in, as opposed to just a house.