Nov
14
Which one Council flat and cheap rent or Mortgage and owning your own home?
By
I am 25yrs old i have an very expensive repayment mortgage.
My husband has quiet allot of friends that rent privately or from the council he thinks that renting and receiving housing benefit is
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10 Comments
July 22nd, 2010 at 9:08 am
Always better to own, if you can afford it, for the reasons you’ve said and it’s better than expecting help from someone else…like the council
July 25th, 2010 at 4:46 pm
Renting is throwing money down the drain. If you can afford a mortgage then try and stick with it because at the end of the day property never goes down in value and you will always have something to sell.
July 27th, 2010 at 4:06 pm
I rented off the council for 6 years and it was a waste of money when you wanted anything do in you had to wait and they didn’t always do the best job so we got a mortgage bought a house yes it can be more expensive but after 25 years its yours were as council you pay till you die so in my experience id buy my own home
July 29th, 2010 at 6:59 pm
Renting deffo. Buying/owning your own home comes with all the maintence and modenising yourself, when 10 years down the line you may not be in a financial positon to do so. All so when you get old you will have to sell to pay for your sheltered accomodation. So you will have worked for nothing.
July 31st, 2010 at 8:36 am
you buy for say 100,000 you pay a mortgage the ammount you owe comes down eventually you own the property. in the meantime the value increases and 20 years down the line its worth 200 000 thats a fair return if you match what youve paid less 200 000.rents increase all the time,money down the drain with zero return.the sheltered housing problem is an if and but senario.always better to buy
August 2nd, 2010 at 1:33 am
If you own property you have no chance of getting a council place without doing it dishonestly!
August 3rd, 2010 at 2:52 pm
ok…its not actually that easy to get a council or housing association house , there are long waiting lists and sometimes you have to stay in a hostel for approx 1 year – and they are NOT very nice places!
Renting privately is money down the drain!
There are 3 good things if you CAN get a council property
1/ you can ‘swap’ it if you would like to move somewhere else , so you have some limited choice over where you live
2/ You can buy it when you are ready…and get a discount on the price
3/ in the meantime…no forking out for plumbers , carpenters , glaziers , etc – the council have a duty to maintain the property , so no big bills if the roof caves in!!!
But i don’t think this is all simple and cut and dry…more like swings and roundabouts!
August 4th, 2010 at 10:02 am
Always better to own, even if it is too expensive, downsize and buy a smaller place, don’t rent you are only paying somone else’s mortgage payments for them………………. a house is a good investment too!!!!!!!!!!!! xx
August 5th, 2010 at 3:07 am
i agree wiv Lisa`s answer. my dad has alzheimers and if and wen he goes into a home to be cared for he will have to sell his house to pay for it. that wasn`t wot my parents had in mind wen they bought the house. and as lisa said it would of all been for nothing
August 8th, 2010 at 12:16 am
Mortgage and owning your home no doubt about it!! (Am 19 and about to buy a house with my boyfriend)