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Who is happy renting?

(23 Posts)
Buddy80 Mon 27-Jul-09 20:30:11

Hi all,

Just wondering who of us out there are happy renting and looking to continue to do-so for the next 5-years?

Me? Well, after some years of renting, I bought my own property about 5-years ago. For various reasons, didn't really like it - felt trapped, etc. As it wasn't a step-up for me in respect to what I had been renting previously, or having a horrid neighbour. Same story for my husband, he bought, hated it for the same reasons, we both sold, and moved into rented together.

Anyway, fast-forward, and we are now in a lovely property, could easily stay there long-term and paying reasonable rent (owned by a large company who doesn't have any interest in selling them, some other renters have been there for years!). A similar property to buy would be crazy money. So, for us, it makes more economic sense to rent. We are saving and would plan to buy at somepoint, but not in the short-term.

The above doesn't mean to sound smug in the slightest - had my share of bad landlords! Just interested (nosey!) if there were others in the same boat!

randomtask Mon 27-Jul-09 20:45:37

We're very happy renting but are currently buying as otherwise we'll never be able to afford to buy. We need to buy now before we have more children (I have DSS aged 8) as if I'm not working full time, DH's salary would not cover a mortgage in our area. So I'll be sad to leave our happy 'first home' but also glad to own my home and thus be closer to TTC. If it wasn't for that, I could do it for years. If we have a problem, we phone the landlady, phone the workmen and they send her the bill. In the future it'll be us paying....

saramoon Mon 27-Jul-09 20:46:21

Renting - but not particularly happy about it- we have never bought and can't at the moment. We are happy though, cheapish rent in a lovely area with great schools and near family. We are saving too and hope to buy in the next few years.

JollyPirate Mon 27-Jul-09 20:49:26

Out of interest who do you rent through? Nice to know there are big companies that rent properties out. I am paying an astronomical rent (private) to live in the crappiest part of town.

PrincessToadstool Mon 27-Jul-09 20:51:08

Happy-ish - we rent a much bigger home than we could afford a mortgage for, in a nicer area, in fact we would probably never be able to afford this without a windfall.

I feel fairly secure, our LL is keen for us to stay but that tiny bit of doubt bothers me - but less so than the responsibility of a mortgage.

So yep, on balance happy. This feels like home too and we have free reign on decoration etc. V important not to have to jump through hoops just to put a picture up or whatever.

expatinscotland Mon 27-Jul-09 20:52:19

If we can get an association place, I'm perfectly happy renting, and it's a good thing, because we'll never be able to buy.

Buddy80 Mon 27-Jul-09 20:56:27

Hi JollyPirate, ours is a private rental, its a global corporation who owns these houses, but in a completley different business. The properties are through a lettings agent. We just got very lucky. One person has even rented for 16-years. As I said above, to buy a semi in the same area would be very, very expensive.

OrphanAnnie Mon 27-Jul-09 20:56:31

We're probably going to rent out our current home and move into a massive rented property with the MIL at some point.
Like you we've rented before and it was fine, choosing your own decor is massively over rated I feel and I like the flexibility.
We moved into a beautiful barn conversion but the neighbors were snotty and it cost an absolute fortune to heat so I was really pleased to hand the keys back to that place.

Buddy80 Mon 27-Jul-09 21:01:19

When I bought, on the day I moved in it just felt like another rental, but with a mortgage. I do appreciate that I could buy my flat, but it was only after years of working up the corporate ladder. I was relieved to sell, tbh. I am happy to keep on saving, but eventually it would be nice to buy somewhere, but for us, the houses we plan to stay in the least, we end up staying in the longest! We both bought in nice areas and within the space of 2-years the areas changed so much. The way it goes. Good to hear from some other renters.

NintyZelda Mon 27-Jul-09 21:05:12

We've (DH and me) been renting for 10 years and have never been any other way, never going to be able to buy - way too many debts etc etc but we are happy to rent. It has advantages and disadvantages, yes we don't own it, are not on the "ladder" but we get on well with our LL so don't have to worry about security too much.
We wouldn't be able to afford a mortgage, our rent is just below average foe what we have, 3 bed semi, new build (10y.o) nice garden and good school and also comunity.

I do sometimes dream of having my own place, but also love the fact that if anything goes wrong at the mo we ring LL they call a man and hey presto problem solved, bill to LL.

lou031205 Mon 27-Jul-09 21:11:35

We have rented for nearly 6 years. LL is my uncle (he has a portfolio of properties). Rent way below market value, but tend to treat it as our own re: minor repairs/ modifications. Qualify for Housing benefit, which is a great relief in these times.

flatcapandpearls Mon 27-Jul-09 21:19:58

We are renting at the moment, we started renting as we moved to the other end of the country but had not sold our house. We sold but did not get as much as we wanted so we will rent for another few years while we save. Dp and I have had so
e problems and need to get on more of an even keel before buying another property.

I was not looking forward to renting but am loving it, we are in a lodge house on an estate, this house would never come up for sale even if we could afford it. I have joked to dp that I may buy somewhere and rent it our while continuing to rent here.

saramoon Tue 28-Jul-09 14:04:49

We rent from a private landlord who has lots of properties in this area. It IS cheap in comparison to others in the area - we pay £570 a month for a 2 double bed Victorian semi with nice garden where you can expect to pay about £750 to £800 for that normally around here. BUT the house is cold in the winter, no central heating and it is shabby - and not shabby chic either! Like i said before we do like it and it does feel like home but we would like to buy in a couple of years if we can.

To those who said they will never buy or be able to buy - are you worried about the future? I worry about not being able to buy a house and retiring and having nowhere to live.

Iklboo Tue 28-Jul-09 14:09:39

We rent - it's much cheaper than if we were paying a mortgage for the property we're in at the moment. We'd never be able to afford a mortgage on anything like it.
Our landlord is great - any repairs are done in a really quick time and he always calls to check if they've been done OK.
When we had real financial issues a few years ago he offered a kind of payment plan for us so we didn't struggle.
I know it would be much easier if we decided to move to a bigger property somewhere else than if we owned the house - we could just phone our landlord and ask what he had available in the area

DjangoTheDjinn Tue 28-Jul-09 14:18:51

We have no choice tbh and never will unless somebody leaves us something (but that would mean them leaving us sad) or if we win the lottery.

We are happy though. We rent a cottage from a farmer who has 5 old labourers' cottages on his land. He is lovely, lets us do as we choose (decorating/digging veg patches for example), lets us help ourselves to crops (potatoes atm) and helps in any way we need. It's simple (water comes from a spring under the farm!) but about half what we'd pay to get the cheapest house around and about twice the size of any property on the bottom of the local market.

I'd love my own house, I would, but I'd love a 28 inch waist. Some things I'm not meant to have.

porcupine11 Tue 28-Jul-09 14:21:31

We rent and can afford a much much bigger house than if we bought. Were lucky to get a house that had been totally renovated to sell, but the LL couldn't get the price he wanted so is renting. The downsides are:

- Might get kicked out when the market picks up
- Feel we shouldn't do things like turf the lawn and plant the garden properly because we won't get the long term benefits (though they badly need doing)
- LL won't connect the TV ariel, we aren't allowed on the roof by contract, so it forces us to have cable/Sky or nothing (we have gone for latter option and have become all cultural. Except for the odd Gossip Girl DVD box set...)
- Can't decorate DS's nursery as I'd like to (though I haven't actually asked LL TBH)

Upsides are:
- No way we'd get a house this size, let alone with a new kitchen and bathroom and floors, if we bought
- Can remain totally flexible with our jobs & move for new opportunities
- We feel pretty much untouched by the credit crunch

I love renting and in no hurry to buy, despite having a £200k potential deposit. Am thinking of spending that on travel over the next 10 years or so. It just seems such a waste somehow to lock it away to buy a teeny tiny house in a part of town we don't actually want to live in.

muggglewump Tue 28-Jul-09 14:27:59

I'm as happy as I can be renting I guess.
I have a small two bed end terrace on a navy estate for £375 a month, which I get full housing benefit for.
My LL has owned 7 houses in the street for 5 years and bought with sitting tenants and AFAIK, has no intention to sell. I've been here 8 years now.
Considering my position as a lone parent on benefits I've got it pretty good.

I may own one day, but I'll have to lose my Dad for that and I'd far rather rent that have that happen.

Of course there's always that niggle in the back of my mind that it's not mine, and the LL could sell snd I would love the security of knowing it will never happen, but It's not an immediate worry.

expatinscotland Tue 28-Jul-09 14:32:45

Just put in our threatened homelessness stuff yesterday. Up to 65 points so here's hoping we'll soon get offered this flat we once looked at which is H/A.

That'll do me!

TheChilliMooseisinthehoose Tue 28-Jul-09 14:34:02

We're reasonably happy renting. We live in a nice house, in a nice area, and we could nver afford to buy here (or anywhere, in all honesty). We have a laid-back landlord who leaves us be.
It'll do us fine until the big lottery win grin

Buddy80 Tue 28-Jul-09 15:49:38

One thing I have found with renting is that it's a great opportunity to try out different areas and houses (obvious, I know). Specifically, I love where we are at the moment, and have been here 4-years, but only recently came to appreciate that it's a little too out in the sticks (need a car to get anywhere). I know if we owned we could sell and move on. But when I sold last time, although I technically made quite a good profit, a lot of that was eaten away in costs. Also, growing up, I noticed a lot of relatives/friend parents in large houses for many years (with large mortgages) and it would be easy to assume they were 'set for life'. Years later many of them don't have these houses and have struggled (due to lots of different life events, jobs, divorce, money, etc) even getting something due to down-sizing. Of course, it doesn't apply to all. Just saying that buying a house, for some, doesn't provide automatic security, which personally for me, makes me more wary of taking the plunge. For us, saving and having the flexibility of those savings and investments feel more secure.

1dilemma Tue 28-Jul-09 17:20:52

we rent and are not happy we only do so because house prices are so crazy landlord does nothing to the house at all until it falls apart and we have mice and moths.

However we do pay much less than if we had a mortgage on same house with no hassle of maintenance (good job because I have discovered dh struggles to find the motivation to change a lightbulb grin)

we are actively looking to move (I came here from rightmove)

flatcapandpearls Tue 28-Jul-09 18:14:49

I would worry if we were not in a position to buy, I doubt very
much my teachers pension would cover rent.

toja555 Fri 31-Jul-09 15:38:15

My options are to buy only. The surprising thing is that my monthly mortgage repayment for 2 bed house will be almost the same as my current rent for 1 bed flat. There is no question why buying is an option for me. O

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