andrejuan Posted January 4, 2017 Share Posted January 4, 2017 At one time it was arguably better not to buy, and to rent for most people. I have some retired friends who live in the west end of London (and in Bournemouth at weekends) I only found out recently that both properties are rented, this surprised me as they are wealthy people. When I asked why they rented, they said it freed up money to invest in better things than property, and they had no maintenance costs whatsoever. They have the old fashioned leases on both properties so the rent is now peanuts having been eroded by inflation and increases in income over the last 50 years. Their landlord periodically offers them silly money to move out so he can charge current values !! These days, it is almost impossible to get anything but a shorthold tenancy agreement which means the rent will always be in line with current values, hence a bad deal financially compared to buying. Link to comment Share on other sites More sharing options...
Margarita Ma Posted January 4, 2017 Share Posted January 4, 2017 Yes I know Yes its quite reasonable at around £400 PA About £10 PA I believe. True but its just been modernised, new aluminium gutters and soffits, roof tiles still in good condition, new kitchen and bathroom upgrade with new doors, and new communal area upgrade to be done before April. As you can guess I will be buying once it has all been completed. The insurance is done by the council as a block insurance and does not amount to much, last time I checked it was around £60 PA. Well it looks like a good buy. I hope it goes really well for you. Link to comment Share on other sites More sharing options...
apelike Posted January 4, 2017 Share Posted January 4, 2017 Well it looks like a good buy. I hope it goes really well for you. Thanks thats nice of you. I must admit that being on a pension I had thought it may be a mistake especially as I don't pay rent or CT at the moment. Link to comment Share on other sites More sharing options...
El Cid Posted January 19, 2017 Author Share Posted January 19, 2017 My council house will be valued next week. Next door sold for £108k last year, but I do believe there was a slight dip in house prices, here is hoping Link to comment Share on other sites More sharing options...
Cyclone Posted January 20, 2017 Share Posted January 20, 2017 3% increase in the last year in Sheffield on average. Link to comment Share on other sites More sharing options...
El Cid Posted January 20, 2017 Author Share Posted January 20, 2017 3% increase in the last year in Sheffield on average. I looked on Zoopla and it gave a £6,000 fall for an house in my street, its only a free only guesstimate I suppose I dont see a need to get my own valuation, the council will value my house, I can accept it, or appeal. Link to comment Share on other sites More sharing options...
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