Announcement

Collapse
No announcement yet.

home ownership...

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • home ownership...

    is homeownership a good or bad thing......

    there seem to be many problems associated with buying a home.....

    i look on it as a simple choice.........if you buy your own home, you save up for your own kids in the future..

    if you rent, you save up for your landlords kids in the future......
    Here Rex!!!...Here Rex!!!.....Wuff!!!....... Wuff!!!

  • #2
    were you in my kitchen this week listening to us talk?? same discussion took place.......my daughter is after christmas looking for a house to buy, and her friend whos parents weve known from way back in ireland happened to mention she didnt agree with buying a house..she said it wasnt and wouldnt be cost effective..

    purchasing....you need..downpayment of at least 10% if its your first house, then you pay mortgage together with interest rate of around 5% at todays rate, then comes maintenance, utilities (lights heating etc etc) taxes etc etc...

    renting...you pay rent....save the difference between renting and buying and in a 25 year period you'll have more than your house has risen in your bank account and get better interest rates on it..

    when i looked at her numbers you know what..im going why the feck did we ever buy a house to start with..

    Comment


    • #3
      Originally posted by Mykidsmom View Post
      were you in my kitchen this week listening to us talk?? same discussion took place.......my daughter is after christmas looking for a house to buy, and her friend whos parents weve known from way back in ireland happened to mention she didnt agree with buying a house..she said it wasnt and wouldnt be cost effective..

      purchasing....you need..downpayment of at least 10% if its your first house, then you pay mortgage together with interest rate of around 5% at todays rate, then comes maintenance, utilities (lights heating etc etc) taxes etc etc...

      renting...you pay rent....save the difference between renting and buying and in a 25 year period you'll have more than your house has risen in your bank account and get better interest rates on it..

      when i looked at her numbers you know what..im going why the feck did we ever buy a house to start with..
      helen, i am sure that it varies, not only from country to country but from area to area......

      paying a mortgage means you pay less as yearly inflation makes your payments a smaller proportion of your earnings ...it gets cheaper......rent rises with inflation.....and also rises with house prices.....
      Here Rex!!!...Here Rex!!!.....Wuff!!!....... Wuff!!!

      Comment


      • #4
        It depends on the culture of the country and city you live in too. UK, Spain and Ireland are Europe's top home owners because it's built into the culture that you must buy your own home while large parts of Europe are happy to rent even do we see it in Ireland as dead money. But renters have stronger laws to protect them in those countries so renting does have it's benefits.

        Comment


        • #5
          well when we came to canada 31 years ago....rental of apartments was more the norm than house purchase...and set in a culture like this, rentals are pretty safe and secure in that people rent long term....there was and maybe is rent control too to a certain point..many of the older buildings are still under rent control which means they can only increase the rent by a certain amount...over the years its changed that more people want to buy their houses...but there is no distinction between owning and renting..

          Comment


          • #6
            Originally posted by Napper Tandy View Post
            It depends on the culture of the country and city you live in too. UK, Spain and Ireland are Europe's top home owners because it's built into the culture that you must buy your own home while large parts of Europe are happy to rent even do we see it in Ireland as dead money. But renters have stronger laws to protect them in those countries so renting does have it's benefits.

            social housing in the uk is subsidised by central government.....that subsidy may disappear in the future....rents will then rise....

            private house renting is really very expensive in some areas...so expensive that it would be cheaper to buy in other areas......

            there are still many areas in the uk where house prices are rising......and of course many where there are dropping....

            depending on your job, i believe it is a wise decision to buy....

            if you buy within your means, negative equity is not a problem......
            Here Rex!!!...Here Rex!!!.....Wuff!!!....... Wuff!!!

            Comment

            Working...
            X