To tell people we're still renting when we bought outright.

Did you miss the part in OP where she said the landlord offered them it for a great price? Which was less than the deposit they'd already saved up so they were able to buy it outright without a mortgage?

I also have friends who've bought houses and increased the value of the house by over 50% in 12 months.. so no, those days aren't behind up.

I suspect the days of "equity returns increasing massively" are well behind us, and I wouldn"t call getting a mortgage an "achievement", you are taking on a large debt, it is a financial decision, for some it will be the right move for others it will be a financial mistake especially if they stretched and did not have savings, understand potential for higher interest rates etc.

Sounds like he just recently got a low offer for his, or maybe he has been trying out some of the price drop apps?

It is really pushy to ask such direct questions about people's finances. We were talking to a neighbour recently and he was asking how much we paid for our house, and how many years ago. It is quite a long time ago so we did say, but I did think it was a bit cheeky, he bought reasonably recently so was maybe trying to gauge how much prices might go up. He was actually a bit surprised how much we paid, it wasn't a cheap area then and we were very stretched to buy at the time.

If they are really nosy they can check on land registry who owns the property, but it does take a while to update.

I think this maybe more about how you feel about things. I'm a renter myself and would typically ask someone if they were still renting or had bought.. not because I'm nosey but because I know it's a huge achievement & I'd want to congratulate them. Even better if you managed to get a good deal & the equity return will increase massively compared to what you paid.

You're winning OP, and many many people love to share in the joy of someone's win, don't get me wrong you'll maybe come across the odd jealous one but they're the ones that would be talking with spite no matter what you'd done so please enjoy what you've both achieved, shout it from the roof tops, speak up with confidence & excitement.. you've worked smarter, not harder and your sacrifices have paid off and rewarded you with stability and financial freedom 😊🫶🏼

You're talking riddles.

There's no such thing as "renting" money. When I rent a house, I don't pay back a bit of house and a bit extra each month until I own the house.

I have borrowed the money and I pay interest.

I used it to buy a house, which belongs to me, but if I do not pay back the money that I owe, my house may be repossessed- just like any property can be repossessed if you borrow money and don't repay it.

I'm just organising you a parade so you can tell your friends and family too like you told the internet

But in honesty

No one cares who rents who's mortgages who outright owns .. the only ones who do are the ones bragging ,

You're talking riddles.

There's no such thing as "renting" money. When I rent a house, I don't pay back a bit of house and a bit extra each month until I own the house.

I have borrowed the money and I pay interest.

I used it to buy a house, which belongs to me, but if I do not pay back the money that I owe, my house may be repossessed- just like any property can be repossessed if you borrow money and don't repay it.

You're talking riddles.

There's no such thing as "renting" money. When I rent a house, I don't pay back a bit of house and a bit extra each month until I own the house.

I have borrowed the money and I pay interest.

I used it to buy a house, which belongs to me, but if I do not pay back the money that I owe, my house may be repossessed- just like any property can be repossessed if you borrow money and don't repay it.

You seem to be thinking just the way the bankers want people to think. They didn"t give you the money, you rent the money by paying interest on it, the same way a landlord gets interest on his/her investment in the form of rent, the bankers money doesn"t have maintenance costs though. The difference in the legal situation for both scenarios is also different, if a renter goes home to live with their Mum they owe the landlord nothing, a mortgage debtor owes the money with interest until the loan is cleared.

Renting money? That's total word salad.

I have borrowed money from the bank. I own my house, however, I am using it as collateral for the money I owe and the bank can claim it in order to repay their debt IF I default on the agreement I have made. I have made this agreement for a number of years and will need to make a new agreement, which might have a different interest rate, when it ends.

In OP's case, she owns the house and she doesn't owe any money. No-one can alter that.

Owning is less flexible than renting. It is harder to sell than end a rental agreement. This is another reason why buying is a significant milestone as you are taking a leap of faith that you are going to stay in that home for a long time.

With the mortgage you are renting the money from the bank instead of the house from the landlord, wages and demand drive rents, the bond market drives mortgage debt costs, as demand for rental falls like now any landlord bumping up rents will have an empty property, with the mortgage debt if the bond market puts up your mortgage debt rent you can"t move away.

Why would that be their concern? Of course if you have a Jumbo sized mortgage and rates go up you could lose the house, but it is still none of their business?

Last time I rented a house, I looked on Right move, looked around the next day, and moved in just over a month later. There was maybe 3 forms to sign and a credit check.

When I bought our current home, it took well over 6 months including the mortgage process, putting in an offer, liasing between solicitors, tons of checks...it was a completely different ball game.

Now we're here, we'll probably stay for decades.

Renting is objectively worse than owning in most ways. You can't decorate. You can't guarantee you'll be able to stay a long time. You can't predict if the rent will rise. You can't upgrade things like the heating system or the insulation. It's not yours, it's just borrowed.

Owning your first home is a significant milestone and a totally normal thing to share or question to ask.

But it's not just the financial side. They're not asking "how much did you pay/are you paying?" They're asking if you own or rent because it impacts your life and security in your home.

Reading back and seeing that most people would only congratulate those that have bought and not those that have moved into a new rental really confirms the point I was trying to make.

People do see renting as 'less than' buying. And this is why my back is up when these acquaintances immediately ask if I've bought or still rent.

A simple 'why do you need to know' is exactly how I will deal with this in future. Thank you for the good advice.

DH and I recently moved house. Our previous house was a rental and we lived there for almost a decade. The old house was a small 2 bed flat where we lived with our 2DC.

The old rent was way below market rate as we had lived there for so long. We sacrificed living and outdoor space a little longer than we probably should have for the financial security and to allow us to build our savings. The smaller home/outgoings also allowed me to cut my hours to part time while the children were younger so we were happy to make the sacrifices as the benefits outweighed the cons.

Our local area is mostly made up of large new build houses that cost above average for the city we live in. All of our acquaintances and friends have much larger homes than us, and were often surprised when they discovered we lived in such a small, modest flat. Especially as we both have 'good' careers.

We have a combined income of approx 80-95k (depending on bonuses) and have managed to save a good chunk for a house deposit. The market has been terrible for a while and we haven't found anything we like, so decided to also look for bigger rentals to give us a little more space while we house hunt.

A 3 bed rental came up locally and we went for it. After a month of living there, the landlord had some major family issues and notified us they would need to sell unexpectedly. We still hadn't found a place to buy that we liked, then the landlord made us a great offer to buy our current place.

The cost of the house was less than our saved deposit so we decided to make a cash offer and buy the place mortgage free. The deal is finally complete and we are really happy here.

Here's the AIBU. Anytime someone finds out we've moved, the first question they ask is if we are still renting or have bought. I don't know why, but it's really bugging me. Never would it cross my mind to ask someone their renting/home owner status. I'm finding it very intrusive.

Would they still be asking this question if we had previously lived in a similar home to theirs? Do they see us being 'beneath' them for being renters rather than owners?

The first few times I was asked I simply changed the subject and didn't answer, but it keeps happening. These people aren't even close friends, just local acquaintances.

I've eventually started telling them we are still renting as I feel telling them we bought outright would open the door to even more uncomfortable questions.

Is it me, or is it intrusive of people to ask someone (that they don't know very well) this?

My real friends haven't once asked my rental/owner status. Why do random people seem to think they have a right to this knowledge?

AIBU to find this question intrusive and unnecessary?

It's probably because as soon as I mentioned we have moved, the first response from multiple people was 'have you bought or are you still renting'

No congratulations, no talks of decorating etc, just straight to the financial side of it.