Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

IGNORED

Maths of buying vs renting, which is cheaper?


AlfredTheLittle

Recommended Posts

Wight Flight
42 minutes ago, Hancock said:

I had one of our little chats with my kid the other week which relates your comment about adventure .. i apologised for not being able to give her the perfect settled life, like her friend round the corner has .... but then said at least you're childhood will be more of an adventure, when we go to Bangkok.

A friend of mine got a three year placement in Singapore when their lad was about your nippers age.

The lad was a bit behind when they left. By the time they returned (which they didn't want to) the lad was at least a year ahead academically and several ahead mentally.

Go for it.

 

Link to comment
Share on other sites

  • Replies 88
  • Created
  • Last Reply
Don Coglione
22 minutes ago, Wight Flight said:

A friend of mine got a three year placement in Singapore when their lad was about your nippers age.

The lad was a bit behind when they left. By the time they returned (which they didn't want to) the lad was at least a year ahead academically and several ahead mentally.

Go for it.

 

I don't have children, but I cannot imagine subjecting one to the disaster that is today's UK state education system.

Link to comment
Share on other sites

Wight Flight
41 minutes ago, Don Coglione said:

I don't have children, but I cannot imagine subjecting one to the disaster that is today's UK state education system.

Agreed. But it isn't cheap to avoid.

Link to comment
Share on other sites

AlfredTheLittle
10 hours ago, eek said:

If you are still talking about Darlo, your immediate issue is that a £1000 a month property to rent is a £300,000+ property to buy. 

 

Change of plan, for various reasons it looks like I have to stay down south, hence trying to make myself feel better about renting with some dodgy maths

Link to comment
Share on other sites

Wight Flight
7 minutes ago, AlfredTheLittle said:

Change of plan, for various reasons it looks like I have to stay down south, hence trying to make myself feel better about renting with some dodgy maths

Oh dear. At least your £1k rent will get you a £500k property.

Which will be one third the size of that £300k property in Darlo.

Soz.

Link to comment
Share on other sites

AlfredTheLittle
4 hours ago, Hancock said:

@AlfredTheLittle As youve a kid i'd just bite the bullet and buy somewhere ... im in a similar position in that ive a 11yo who i raise alone, so stability is priority. (though im intending to leave this shithole)

Avoid the headaches of landlords and being unsettled ... and in the long term owning is cheaper.

I would do, have rented all sorts of places previously but that was when he was with his mum half the time. He's 12 and has just come to live with me permanently. I'd been planning to go up north and buy in any case, with him it would be an even better idea but unfortunately for various reasons it's turned out not to be viable. Down south the equation is different, I can pay rent for a decent place for 6 years till he's 18, which would probably beat buying, though I desperately resent every penny paid out in rent!

Link to comment
Share on other sites

Wight Flight
2 minutes ago, AlfredTheLittle said:

I would do, have rented all sorts of places previously but that was when he was with his mum half the time. He's 12 and has just come to live with me permanently. I'd been planning to go up north and buy in any case, with him it would be an even better idea but unfortunately for various reasons it's turned out not to be viable. Down south the equation is different, I can pay rent for a decent place for 6 years till he's 18, which would probably beat buying, though I desperately resent every penny paid out in rent!

A word of caution. If you bring your kids up in the South, that is where they will want to stay. Which will fuck up their lives.

 

 

Link to comment
Share on other sites

AlfredTheLittle
1 minute ago, Wight Flight said:

A word of caution. If you bring your kids up in the South, that is where they will want to stay. Which will fuck up their lives.

 

 

Completely agree again, that was part of my reasoning for heading north, but who knows what the future will bring anyway........ 

Link to comment
Share on other sites

Wight Flight
1 minute ago, AlfredTheLittle said:

Completely agree again, that was part of my reasoning for heading north, but who knows what the future will bring anyway........ 

True.

You cannot control circumstances in life. You can only control how you react to those circumstances.

This is why I am glad one of mine will be able to stay in the U.S..

https://www.realtor.com/realestateandhomes-detail/2300-Nebraska-St_Sioux-City_IA_51104_M70034-43269

Link to comment
Share on other sites

3 hours ago, Don Coglione said:

I don't have children, but I cannot imagine subjecting one to the disaster that is today's UK state education system.

Thats one reason i'm leaving, an putting her in private school. Id imagine it'll still be woke but more on the level of 20 years ago.

Link to comment
Share on other sites

1 hour ago, AlfredTheLittle said:

I would do, have rented all sorts of places previously but that was when he was with his mum half the time. He's 12 and has just come to live with me permanently. I'd been planning to go up north and buy in any case, with him it would be an even better idea but unfortunately for various reasons it's turned out not to be viable. Down south the equation is different, I can pay rent for a decent place for 6 years till he's 18, which would probably beat buying, though I desperately resent every penny paid out in rent!

Is the mother in agreement with him moving up north, if the mother is anything like my kids she would/could stop it, and youd need a court order.

Mother of my kid is that mental she refused to allow me to move down south to be nearer her, so she could see her kid more often. I've got to rip her partners head off at some point for this.

If you're moving north one of the reasons must be house prices .... if i was in your situation with 200k in the back pocket i'd just bite the bullet and buy ... at least that way you can just earn tax threshold (stick everything above this into a SIPP) then get all the tax credits which are about 6k per annum.

Link to comment
Share on other sites

4 hours ago, Wight Flight said:

A friend of mine got a three year placement in Singapore when their lad was about your nippers age.

The lad was a bit behind when they left. By the time they returned (which they didn't want to) the lad was at least a year ahead academically and several ahead mentally.

Go for it.

When i were a lad the more academic subjects came really easy to me, i never needed to try i just got it ... so i never tried.

My kids PK at the subjects she' not that isn't interested in such as maths and geography .... but when it comes to art, design and the creative writing she is focussed on being the best at school, thus excels.

I was paying for private tuition for maths and English, but now realise its a waste of time and money ... and is cruel!

Time just to let her focus on the arty/design stuff, so she can avoid getting a "real job", and just aim for a job she enjoys.

My theory is if i put her in the best school in BKK, she will know the well to do kids which creates opportunity, and just having a good school on her CV will open doors.

Failing that in her words she can just have kids and let her husband go to work!

Kids round the corner with the perfect upbringings and 10 straight A's, can do all the academic jobs!

Link to comment
Share on other sites

Frank Hovis
2 hours ago, AlfredTheLittle said:

I would do, have rented all sorts of places previously but that was when he was with his mum half the time. He's 12 and has just come to live with me permanently. I'd been planning to go up north and buy in any case, with him it would be an even better idea but unfortunately for various reasons it's turned out not to be viable. Down south the equation is different, I can pay rent for a decent place for 6 years till he's 18, which would probably beat buying, though I desperately resent every penny paid out in rent!

Is the Midlands at all viable?

Lincolnshire, Worcestershire and the recommended Stoke and evirons still provide decent value.

If it has to be "down south" and for a set six years or so prior to the option to move then yes renting is probably the better option.  I've mostly rented when looking at similar time horizons.

Link to comment
Share on other sites

8 hours ago, Wight Flight said:

True.

You cannot control circumstances in life. You can only control how you react to those circumstances.

This is why I am glad one of mine will be able to stay in the U.S..

https://www.realtor.com/realestateandhomes-detail/2300-Nebraska-St_Sioux-City_IA_51104_M70034-43269

Sioux City you say? Shame the settlers massacred all the native Indians AND stole all the land but yeah better situation than all the stolen land in the UK lol

Link to comment
Share on other sites

Objectively,   benefits of renting:

1) Mobility (minimal costs/hassle if you need to move).  This is a major advantage if you may need to change jobs / career etc.   Don’t underestimate the benefit of being able to move away from problem neighbours.
 

2) No maintenance, mortgage or insurance costs 

3) You have the flexibility to invest your slush fund in something offering higher returns (*or lose it all).

 

Benefits of buying:

1) It will work out cheaper in the very long run..   if you are paying cash, that break even point will come sooner.
 

2) Security of tenure 

3) Decorate how you choose.

 

An alternative strategy (if you have £200k in liquid assets),  and given borrowing is so cheap..    invest £100k in the house to get the lowest mortgage rates.   Invest the other £100k in other stocks / shares or other assets of your choosing.  If interest rates ever shot up,  you could  sell up your other assets and pay off the mortgage.

Link to comment
Share on other sites

13 hours ago, Hancock said:

If i had bought a house around the time HTB was introduced, me and the kid would be far more settled. I went away working for a couple of months  when it was announced and by the time i got back prices were up 10/15% ... then it was rabbit in the headlight time!

I had one of our little chats with my kid the other week which relates your comment about adventure .. i apologised for not being able to give her the perfect settled life, like her friend round the corner has .... but then said at least you're childhood will be more of an adventure, when we go to Bangkok.

She seems happy and is 100% bang up for going to school over there and living a different way of life.

I have met a number of couples travelling with young children and they (the children) always seem the most gregarious and balanced. I think as adults we often projected our complex emotions/lives onto our children who in fact have a far more simplistic attitude, and just `go with the flow` in ignorance. As long as they have one stable/dependent adult who appears confident/unflappable and is always there, anything else really doesn't come onto their emotional `radar`. In fact children that experience such a life indirectly often seem more resourceful and are better able to cope with life as an adult I.e. less `snowflake`

Link to comment
Share on other sites

12 minutes ago, MrXxxx said:

I have met a number of couples travelling with young children and they (the children) always seem the most gregarious and balanced

methinks in all likelihood the parents have pretty much eschewed consumerism and materialism, don't have a TV, don't consume much alcohol, appreciate the beauty of the natural world.....

The west is so fooked up at the moment it beggars belief......reminder to oneself, go east not so young man, go east :)

Link to comment
Share on other sites

My dad was in the RN and we got moved around a lot. My 5th school was a grammar school at age 11. I got used to making new friends, it came easily.

 

Link to comment
Share on other sites

Frank Hovis

The biggest advantage of renting is of course your abilaity to give notice and leave.

I picked up this sad end to Sparks' drummer this morning.

220px-Norman_Dinky_Diamond_1974.jpg

When The Four Squares failed Diamond gradually drifted out of music[5] and after a series of jobs, in 1998 he and his partner of 21 years Jane Gant moved into a small terraced house in Sandhurst in Berkshire where he was troubled by a noisy neighbour and her partner for five years who slept all day and played loud music all night and who argued loudly in the street. At the same time Diamond had recently left a job he enjoyed and taken one which he hated, working for an internet gardening company. When the police and local housing association did not take action against the neighbour despite numerous complaints, Diamond got drunk and hanged himself from the loft ceiling in his home on 10 September 2004, though news of his death was only made widely known five months later when the verdict of suicide was confirmed at inquest.

https://en.wikipedia.org/wiki/Norman_"Dinky"_Diamond

 

Link to comment
Share on other sites

AlfredTheLittle
14 hours ago, Frank Hovis said:

Is the Midlands at all viable?

Lincolnshire, Worcestershire and the recommended Stoke and evirons still provide decent value.

If it has to be "down south" and for a set six years or so prior to the option to move then yes renting is probably the better option.  I've mostly rented when looking at similar time horizons.

I have looked at the Midlands a bit ( in fact, I've occasionally posted queries about various different places on here going back about 3 years now!). My hand's been forced slightly by events, but in any case £1k a month for a nice place for 5 years works out at £60k. For that I'm getting stability and decent schooling for my son, plus the opportunity to wait and see if all my shares in BP and Shell come good! Overall, not too bad a situation to be in.

Link to comment
Share on other sites

26 minutes ago, AlfredTheLittle said:

I have looked at the Midlands a bit ( in fact, I've occasionally posted queries about various different places on here going back about 3 years now!). My hand's been forced slightly by events, but in any case £1k a month for a nice place for 5 years works out at £60k. For that I'm getting stability and decent schooling for my son, plus the opportunity to wait and see if all my shares in BP and Shell come good! Overall, not too bad a situation to be in.

Were you the one who went all in with 200k in BP/Shell shares?

Half tempted to do something similar, if they go down to 250/1100.

Link to comment
Share on other sites

Green Devil
6 hours ago, jm51 said:

My dad was in the RN and we got moved around a lot. My 5th school was a grammar school at age 11. I got used to making new friends, it came easily.

 

Good friends stay friends where-ever you are, London, Singapore, Tokyo etc.  Friends for life. Most of the others/aqaintances you'd probably be glad to leave them behind.

Link to comment
Share on other sites

35 minutes ago, Green Devil said:

Good friends stay friends where-ever you are, London, Singapore, Tokyo etc.  Friends for life. Most of the others/aqaintances you'd probably be glad to leave them behind.

Since Covid I've seemingly left the lot of them behind, several have died by mid 40s (i.e. 4 of 5 males who were out in my 18th Bday)... and the ones still alive were a contributory factor as to why a couple of those have died ... i.e. shagging their birds.

Best well out of it, and sailing your own ship once you reach a certain age.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.

×
×
  • Create New...