Thread: The housing market
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Unread 23 Nov 2006, 17:25   #10
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Re: The housing market
Quote:
Originally Posted by Nodrog
Because it makes more sense than pissing away 5K ever year on rent that you wont get any returns on. If you were renting for 10 years then thats around 80K that youre losing in real terms, which is a decent bit of money.
But that assumes you're going to stay in the same place for the next 10 years doesn't it?

The fees involved in moving a mortgage from one place to another is quite a large amount...
And when you move house there are all the decorating etc costs too.

I'm guessing your £80k includes the increase in the house worth but what if the house value decreases? You also haven't taken into account the interest you've paid on your mortgage payments that you've effectively lost.

The amount of maintenance you have to put into a house you own is more than into a house you rent as well.

If you can afford a mortgage then great, if you can't then renting won't lose you too much.
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