Are you going to buy a house or just stay renting? trying to decide

[littlebabyboy]

Hi girls.

Just wondering what people are doing these days renting or buying? I currently still live with my parents but am debating whether to move out or not. It would be only to rent somewhere for now anyway as at the moment im not working as im going back to do my final year in college in september then i am going to work full time after that. my oh is working part time at the mo and he is either going to go back to college in september or work full time depending on what course he is offered and what we are doing. My parents don't mind me staying here but part of me feels i should move out and stop relying on them so much. What I am wondering is, is if i start renting now will i lose out on ever having a chance to buy my own house? just with rent and all it would be so hard to save, no? at the moment i have hardly any outgoings, just the few things for my 7 month old.

Just wondering girls who is doing what? Don't mean to be nosey just wondering hwo everyone else manages.

Thanks!!

 

[Always&4ever]

We have an army house but were also going to buy a house in Surrey

 

[Leila Fae]

DH and I have been renting in London for the last 8-10 years. We left London in February and moved in with my sister who lives in Kent with a view to buying somewhere in the same area. A house unexpectedly came up for sale and we've had our offer accepted so we're currently going through the process of surveys etc. It's rather terrifying because we're going to be very short on money once we've got the house as we've got to install central heating and get the place re-wired.

We've got the house for a good price but with fees and the first mortgage payment (which is double the usual ones) we're not going to have much left at the end. We have some furniture already and will be getting other pieces second hand. I'm reconciled to the fact that it's going to take a long time before the place looks the way I want it to!

 

[pinkish_angel]

I lived with my parents till I was 21. As soon as uni was over I moved away to work at butlins so lived on camp for 2 years. I got promoted in 2003 so had to move off camp (management cant live on resort). I decided to buy rather than rent and got myself a mortgage. I had a few issues tho and 2 years later I wanted to move home nearer to my folks (was pregnant for one) so I sold my flat for bout 15 grand more than I paid for it. Bought a terraced back in my home town and now have moved up the ladder even more. It definately pays to buy rather than rent. Dont get me wrong, its hard at times.. specially now I have recently lost my job but over all, me having my own house is brilliant. Its one thing Im totally proud of, along with my lil girl of course. You can do what you want to the house.. make it your own. And its not money down the pan like it is if you rent. You have something to show for your payments. I was 23 when I got my first mortgage. Dont jump in as its a big step. Specially if your moving in with a partner. But definately look into your options. Good luck xx

 

[Blah11]

Just bought our first house IMO renting is a waste of money. I much prefer to own it.

 

[kitty_kitty]

We have a big terrace and have just remortgaged for a cheaper rate and i certainly could not rent a house like this in this area for £385 a month!!!!

 

[babystar]

OH and I have been renting for 10 yrs now....we were with council 1st and it was nice n cheap but we have had to go private for now (until we get something form a housing association) and its expensive.

We couldn't poss afford to buy our own house if we wanted to unfortunately

I know alot of ppl will say owning is best....but if you don't have the money for deposits etc for a mortgage then there no way you could possibly own.

Renting might be a "waste of time" to some...but to others like us its the only thing we can possibly afford to do.

We would only be entitled to 40,000 on mortgage (we have been to an adviser)and that wouldn't get us a one bed flat....and we have 2 kids and one on the way.

 

[I want a bump]

I think if you can afford to, now is definitely the time to buy.

I have recently sold mine (after it being on the market for ages) cos we are relocating to Lincolnshire for o/h's work - we are just going to rent though as we are moving to Australia in 3 years and dont want to be stuck trying to sell our house when we want to go.

 

[Jemma_x]

Were looking to rent as its all we can afford at minute

 

[genkigemini]

We can only afford to rent but, by renting, we are getting a nice sized house for a very reasonable price.

 

[kitty1987]

Me an OH rent, can just about afford that lol

 

[butterflies]

DH & I are going through the process of buying our first house atm.
We're waiting on the solicitors to get the contracts sorted right now.

We've been renting since we moved in together, in a property owned by my FIL, but we've always paid our way and we don't get the cheap ride people think we do.....he still has a mortgage to pay on it afterall!

We thought hell would freeze over before we could buy, but we saved regardless & DH's grandad passed away at the beginning of the year leaving us a bit more, so we've got a sizeable deposit.
The house we're buying is a little further away from where we really wanted to be, but its a 2 bed semi, with a huge garden in a rural location and if i'm honest its a dream come true....the house for us is soooo perfect. We couldn't buy a 1 bed flat where we are now for the price we're paying for the house.

All in all the credit crunch has helped us to buy.....without it i doubt we'd be in the position we're i now

 

[tasha41]

Buying when we can afford it. Once we get a downpayment saved, the mortgage will be cheaper than paying rent.

 

[Blah11]

OH and I have been renting for 10 yrs now....we were with council 1st and it was nice n cheap but we have had to go private for now (until we get something form a housing association) and its expensive.

We couldn't poss afford to buy our own house if we wanted to unfortunately

I know alot of ppl will say owning is best....but if you don't have the money for deposits etc for a mortgage then there no way you could possibly own.

Renting might be a "waste of time" to some...but to others like us its the only thing we can possibly afford to do.

We would only be entitled to 40,000 on mortgage (we have been to an adviser)and that wouldn't get us a one bed flat....and we have 2 kids and one on the way.

You should check out with the government if they have any special schemes for people on a low income but want to buy. Me and my OH managed to secure a £40k grant from a government funded scheme so we could buy our own place and it meant we didn;t need to get a deposit together. + our mortgage and insurance etc etc for our 3bed midterrace is £50 cheaper than renting a 1bed flat in town!

 

[nearly a mum]

if ur not working and ur oh is only doin part time u would strruggle if u moved out

if u get on with ur parents and they have no problem u staying there id suggest u stay

u could save up some money and eventually move out

im renting at the minute iv got no savings and once bills etc are payed am not left with much so its really hard to save up to buy a house coz these days u need a big deposit

renting is dead money but on a plus side if anythin goes wrong with the house (our boiler went this month) the owner has to sort out/pay for all of that

 

[MrsQ]

Hi we rent. But we are both key workers and plan to (after we get married) to apply for the help from the government and hope to get on the property ladder.
If we cant do that we will have to rent a 2 bed as we live in a small 1 bed and we have outgrown it already!
x

 

[lozzy21]

We are renting and starting to save for a house. Nowadays you going to need 10k minimum for a deposit.

 

[CareBear]

Buying is great if you can afford it and can afford for mortgage rates to fluctuate in the future. We rent and are saving up for a deposit. If we were to buy the size of house we live in we would be paying double the amount of rent a month that we do now. House prices are continuing to go down in the area I live in and so we are hoping that by the time they get to the price we are happy to pay we will have a nice deposit saved up

 

[Amy-Lea]

I rent off a private landlord who is a friend of my stepdad. I want a mortgage asap!

 

[sarah1989]

Right now DH and I are renting - 550 inclusive Canadian, for a one bedroom. Once school is done for us, we will have a better more stable job, that is when we will look into buying a home.