Well renting for us was very, very cheap (thanks to DH's job) but we bought because we figure it is better in the long run. We got a very modest house and realistically it will be completely paid off within the next 10 years (being very conservative there as we could easily pay it off quicker and aim to). We have less money than we would renting but we still live quite comfortably and owning a house outright eventually is well worth it to us.
I love that i don't have to answer to a landlord, go through inspections or worry about finding rentals etc - it's less stress having the mortgage (funnily enough).
There are advantages to renting but i prefer having a mortgage knowing i will own a house outright in the foreseeable future - even though the house isn't anything too exciting it will be ours and i love that
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23-01-2012 12:40 #11has left the building
- Join Date
- Dec 2008
23-01-2012 12:44 #12
Mmm because we haven't gotten around to buying a house and I'm scared of the financial commitment, give me marriage and kids any day, plus I kind of like a change of scenery that comes with moving. Sorry I didn't quote but someone above me posted a few points that called out to me, I like the idea of investing the extra $ as she said, I think I would rather do that.
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23-01-2012 12:44 #13-
- Join Date
- Oct 2011
we rent. we also own a few places.
we have no idea where we will go next and dont really want to be stuck here due to owning.
it a lot easier to uproot if you rent.
but we own a property for each child, so there is a nest egg there.
23-01-2012 12:53 #14
We rent because we move frequently for DH's career (6 moves in 7 years) so renting is the sensible option for us. Although I have noticed in that time it is getting progressively harder and harder to find a house to rent.
We bought a property last month that we will move in to at the end of this year, and we will never move again. I want roots. I want to stay in one place. I crave it!
23-01-2012 12:55 #15
I don't spend too much time thinking about how I'll survive as an old person right now. It just seems too far away - I've still got to double my life before I reach 50 (and expect to still be working at that age anyway).
I also think that even if I buy a house for our family, that won't be the house we live in when we're old... we won't need the kind of space we'll need for a few kids as well... we'll probably want somewhere smaller when we're elderly, and if there is a pension, it might help us out more that way than if we have costly assets which see us being grated less from Centrelink (or whatever it'll be like in the future).
We still want to buy though, because we want to do what we want without a landlord saying no, and right now our money is going nowhere for us, long-term. At least a mortgage is an investment. We also want 2 large dogs but won't be getting them until we are living in our own home, so we won't be booted out and left to find somewhere that will allow us to take our pets with us - which would be rather difficult really.
23-01-2012 12:59 #16
maybe because I have only rented once for 6mths I have some romantic notiion of it - we lived in the city, had a full gym, indoor pool, consierge, free movie hire, dry cleaning etc. Apartment was lovely and big and clean and new - Euro appliances, marble, everything worked. Beautiful views across Mel.
I now live in a hardy plank 3 bedroom AVERAGE AT BEST house with a laminate kitchen
23-01-2012 13:18 #17Senior Member
- Join Date
- Jun 2009
Trust me, you dont want to get to retirement age and still be paying rent and having that take all of your pension (if you dont have much super).
My partners parents have never owned a house and they struggle to pay rent each week. I would hate to be that old and have to worry about it. I would rather put the hard yards in now and then relax come retirement.
And the problem with people is that they dont think about the future. We all want to live in the now. Best advice I got from a guy at work was to put extra in my super because living off an old aged pension is going to be awful.
23-01-2012 13:35 #18
I rent by choice because I absolutely loooooooooathe the idea of being tied down to a mortgage. I love that DH and I can up and move at the end of a lease if that's what we want to do. In our current home we have the most AMAZING landlord who we now rent directly through, we all decided to turf the real estate mid last year as they were too useless for words. Whenever we need something, anything fixed, the owner is here that day.
Financially? Really couldn't care less to be honest. Life isn't about money, for me personally. I'd rather be able to move when and where I want for my whole life rather than have an investment and stay in the one place for years..and years..and yeeears. LOL. That's just me though
I do like having my own personal savings account for rainy days or emergencies or whatever, but yeah - that's about as financially serious as I am I'm afraid . Speaking of renting, we're hoping to move further down the coast close to the beach in the next 18 months, fingers crossed .
As for later in life? Well, and I hate thinking about this, but when my grandparents and parents pass....yeah. I'll be in for quite for quite a bit of $. Anyway, that's a long time off yet
Last edited by Pinkzy; 23-01-2012 at 13:38.
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