taxman Posted October 10, 2013 Share Posted October 10, 2013 There's an interesting utility on the Beeb's website in light of the new government scheme to get people on the housing ladder: Where can I afford to live? http://www.bbc.co.uk/news/business-23234033 I've tried it and it says I can't afford to live anywhere unless I stump up £10,000 for a deposit. Yet I know this isn't true. Wow, I can go and live in Burnley and cut my monthly mortgage payment by £230. Mind you it would mean going to live in Burnley Link to comment Share on other sites More sharing options...
Shogun Posted October 10, 2013 Share Posted October 10, 2013 I took the right to buy on our house,it was very cheap and the mortgage has a few years to go and should be paid off soon.it is a great house with loads of room a large corner yard it suites me perfectly.the area is not the most salubrius but I am happy here,the missus wants to move though.I'v had a look around for a simmilar house in a nicer area,if I sold our house sold just about everthing I own I would still not get a house with the same kind of room we have here,so buying a house is not always a good thing as you can move around to a lot nicer area if you rent,I was looking at one house to rent in Hoyland it was in a nice part of the area it was a large house with loads of room and the rent was onley £495 a month.I dont know if buying is a good thing as I have had to recently have a new roof and juttering on my house at a cost of £3.000.anything that goes wrong with the house as a house ownwer you have to fork out for,and if you dont keep up with the maintainace of the house the place soon becomes delapadated. Link to comment Share on other sites More sharing options...
Nem88 Posted October 10, 2013 Share Posted October 10, 2013 Preference, don't really believe in the long run any is cheaper, or any is less hassel. Why I bought one is at the end of the day you own house at the end. Link to comment Share on other sites More sharing options...
Shogun Posted October 10, 2013 Share Posted October 10, 2013 Preference, don't really believe in the long run any is cheaper, or any is less hassel. Why I bought one is at the end of the day you own house at the end. Link to comment Share on other sites More sharing options...
truman Posted October 10, 2013 Share Posted October 10, 2013 Preference, don't really believe in the long run any is cheaper, or any is less hassel. Why I bought one is at the end of the day you own house at the end. Translation.. there's not much difference between renting and buying except when the mortgage is paid off you own the house...there's never an end to paying someone else if you rent.. I think.. Link to comment Share on other sites More sharing options...
Shogun Posted October 10, 2013 Share Posted October 10, 2013 Translation.. there's not much difference between renting and buying except when the mortgage is paid off you own the house...there's never an end to paying someone else if you rent.. I think.. Glad you cleared that up,,,. Well my opinion of that is when you get old you can't maintain the house properly, you can't take it with you when you kick the bucket ,your kids will probably have their own houses so they will end up squabbling over it.so you will have worked hard all your life to pay for the house for someone else to benifit from it.and most likely the goverment will have something out of it somewhere along the line as well.. Link to comment Share on other sites More sharing options...
poppet2 Posted October 10, 2013 Author Share Posted October 10, 2013 Glad you cleared that up,,,. Well my opinion of that is when you get old you can't maintain the house properly, you can't take it with you when you kick the bucket ,your kids will probably have their own houses so they will end up squabbling over it.so you will have worked hard all your life to pay for the house for someone else to benifit from it.and most likely the goverment will have something out of it somewhere along the line as well.. It's about 40% isn't it? Link to comment Share on other sites More sharing options...
truman Posted October 10, 2013 Share Posted October 10, 2013 It's about 40% isn't it? If you're talking about inheritance tax it starts at £325,000 or 650k for a couple... estates below that pay none.. Link to comment Share on other sites More sharing options...
avidcameron Posted October 10, 2013 Share Posted October 10, 2013 Glad you cleared that up,,,. Well my opinion of that is when you get old you can't maintain the house properly, you can't take it with you when you kick the bucket ,your kids will probably have their own houses so they will end up squabbling over it.so you will have worked hard all your life to pay for the house for someone else to benifit from it.and most likely the goverment will have something out of it somewhere along the line as well.. Once you have repaid a mortgage and passed the age of say 65/70 it is preferable to rent;a fixed sum is payable and the risks associated with ownership such as repairs are borne by the landlord.I think you have the right idea Shogun. Link to comment Share on other sites More sharing options...
Danny_Boy Posted October 10, 2013 Share Posted October 10, 2013 Once you have repaid a mortgage and passed the age of say 65/70 it is preferable to rent;a fixed sum is payable and the risks associated with ownership such as repairs are borne by the landlord.I think you have the right idea Shogun. Not true a landlord can increase the rent for whatever reason he or she likes. Inflation, cost of mortgage increase, greedy, etc etc. Link to comment Share on other sites More sharing options...
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