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  1. #11
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
    Posts
    3,604

    Default

    Like all situations, renting and/or owning a house, have their times.

    If you're moving around a lot because of your job, you're young and can't "settle" somewhere, you don't have the nous or capability of being a home owner, then renting is ideal for you.

    If you've stopped moving around, you've got the partying out of your system (hopefully!) and you've learned a bit of life, you've picked up some DIY skills, then perhaps home ownership is for you.

    There are some people who never want to rent and there are some people who never want to own their own home and the responsibility that goes with it.

    Each situation/opportunity is no worse and no better than the other.

    That is why there will always been Landlords and tenants.
    Patience is a virtue.

  2. #12
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,086

    Default

    Quote Originally Posted by notch View Post
    If house prices flat-line for the next 5 years or so (which is quite likely), is it really still worth buying?
    The only advantage I can see is inflation eating away the mortgage debt.
    BUT, inflation is not inflating peoples earnings at present - just their expenses.
    Do you know anyone with a 4+% pay increase in the last few years?
    So how can the debt be inflated away if inflation is only happening on the expense side?
    Seems to me that there is very little financial benefit in owning at present.

    In my situation, I rent an $750k house for the cost of a $250k mortgage (in rent).
    Either I triple my outgoings to have a place to call "home" (actually a place the bank owns) and buy, or
    I save the difference. It's a no-brainer!
    All well and good so long as you don't mind being given 6 weeks notice to move at any time, and that you do actually save the difference.

    And well done for renting a $750K house for $288 (6% on $250K) a week - don't forget that any capital payments are really the equivalent of saving.
    DFTBA

  3. #13
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,086

    Default

    ... and another thing.

    The bank does not 'own' the house - you do. The bank has a financial interest, but that is very different to being your landlord (they can't, for example give you 3 months notice just because they feel like it).
    DFTBA

  4. #14
    Join Date
    Nov 2011
    Posts
    445

    Default

    rent does make sense if you don't have money to buy a house yet, but during that time you are renting you should also be saving as much as you can so that later down the track you can buy a house. Renting pays the landlord but leaves you with no asset in the end

  5. #15
    Join Date
    Sep 2011
    Location
    Dunedin
    Posts
    1,689

    Default

    i have never rented, bought my first house at 19 cant see the point of paying some greedy landlords mortgage for him

  6. #16
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,806

    Default

    ^you lived at home with mummy until 19????...awwww diddums.

    Cheers
    spaceman
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  7. #17
    Join Date
    Sep 2011
    Location
    Dunedin
    Posts
    1,689

    Default

    yea my dad died of cancer, took him a year and a half to go from a healthy 52 yo to a bed ridden skeleton so i hung around to help out my mum
    Last edited by jimO; 13-02-2012 at 05:51 PM.

  8. #18
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,807

    Default

    Quote Originally Posted by jimO View Post
    i have never rented, bought my first house at 19 cant see the point of paying some greedy landlords mortgage for him
    Showing bias again bud.

    Pity you don't see the scum side of tenants, just focus on the "greedy" side of landlords.

  9. #19
    Join Date
    Sep 2011
    Location
    Dunedin
    Posts
    1,689

    Default

    Quote Originally Posted by Keys View Post
    Showing bias again bud.

    Pity you don't see the scum side of tenants, just focus on the "greedy" side of landlords.
    for a start im not your bud and after 35 years in the building game i have seen plenty of scum tenants, seeing as you seem to have a bias against tenants perhaps you need a change of career

  10. #20
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,807

    Default

    And I used 3kg line for that one!

    You do have to admit. You seem to take every opportunity to run landlords down. If you see my history of postings here you would see where my bias lies.


 

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