To think being snobby against people who rent is daft?

[sandylanebgi]

Dp and I rent our flat in London. For a variety of reasons, but mainly because with interest rates so high, just paying the bank's interest on a loan that big would cost more per month than our rent!

I've had comments from family and friends back home in the north saying stuff like "Oh you rent :/ " or "Oh renting is just wasting money". "Oh so you don't own your home then" and even "It's not a home unless you buy it" but some of these people have huge mortgages on the properties so they hardly own them. For what it's worth, DH and I have more in investments than many will have in equity or their deposit etc. So renting can and is a sensible choice for many, especially in inner London

🙄

In Britain we have an obsession with owning property. There’s lots of reasons you might not want to buy although I would say that on average London property has appreciated at 6% a year (I think) so although on a cash flow perspective it might not be clear cut, overall when taking into capital appreciation, it’s been a great investment.

you don’t need to justify your choices if you are happy with them so I wouldn’t worry about what other ppl think.

Ignore them

Our ndn hired a tree surgeon to cut back massively a tree in our garden. Tree had a TPO. Ndn said she owned her home so had more rights than us and she wanted it gone. Entitled or what?. Even the fucking sap of a man from the TPO dept said oh well it will grow back. So why have such a thing anyway?

Whatever you do, someone will be making stupid comments judging you for it.

It’s unavoidable. People have different preferences, and they justify their own choices (often) by criticising people who do differently.

Just completely ignore them.

Ignore them OP. Your life, your money, your choice.

There is more security owning than renting. Personally, I do think this plays more of a role if you start having children and even more so when you're older and start considering retirement etc.

There is also the point about if house prices continue to rise, will they rise faster than your investments grow. If that is the case you could find yourself missing an opportunity to get on the housing ladder.

Having said that, owning can be it's own minefield. Leaseholds, service charges, cladding, repairs and maintenance, costly moving fees, being "stuck" in a location...

I moved from a high COL area to a lower COL area. Some people in lower COL areas don't seem to grasp quite how impossible it can feel to get on the housing ladder when the cheapest property is £350K.

In short, as long as you have a plan that you are happy with, who cares what they say?

Couldn’t agree more. 10% equity does not make you a home owner