Simple question about your living arrangement
- Thread starter DarkHelmet
- Start date
We're renting, I doubt we'd have the money to buy.
I've lived in about half a dozen (or more) places and only invested money in one.
I've lived in about half a dozen (or more) places and only invested money in one.
My own home, I own with a mortgage but it's rapidly paying off since I have it on an offset mortgage. So every monthly payment is a capital repayment instead of being interest. I figure it's about 60%+ mine now. I'd probably make a few extra net percent by paying interest and investing the excess cash elswhere, but given some medium-term plans, I prefer having some liquid assets at the moment.
I also have a buy-to-let property which is only about 25% mine. That mortgage is interest-only, but I save the net rental income, and with interest rates low, a lump sum is accumulating which will deal with a big chunk of the mortgage when the time comes to pay it off. That's assuming inflation hasn't eroded the value of the debt sufficiently by then to pay it off completely, or I don't just roll it over to another interest-only mortgage. I'll have to do the sums at the time the mortgage matures.
I was thinking about picking up another BTL, but the aforementioned need for some liquidity right now means I don't want to tie up the needed deposit money right now.
I also have a buy-to-let property which is only about 25% mine. That mortgage is interest-only, but I save the net rental income, and with interest rates low, a lump sum is accumulating which will deal with a big chunk of the mortgage when the time comes to pay it off. That's assuming inflation hasn't eroded the value of the debt sufficiently by then to pay it off completely, or I don't just roll it over to another interest-only mortgage. I'll have to do the sums at the time the mortgage matures.
I was thinking about picking up another BTL, but the aforementioned need for some liquidity right now means I don't want to tie up the needed deposit money right now.
Rent. Same apartment since May 2001, actually.
I've been keeping an eye on the market, since I can get a decent 3-bedroom rowhome for about what I pay a month now, and was planning to buy something this year with parental and university assistance, but the funding situation at work has become precarious and I'm therefore uncomfortable with taking on the responsibility until that is resolved.
I've been keeping an eye on the market, since I can get a decent 3-bedroom rowhome for about what I pay a month now, and was planning to buy something this year with parental and university assistance, but the funding situation at work has become precarious and I'm therefore uncomfortable with taking on the responsibility until that is resolved.
Ugh, I rent a single family home that's only 1600 SF, no garage, about a quarter acre, and it's $2,000 per month, which is actually a steal around here. The owner had a prospective renter bail at the last moment, needed a tenant to get a mortgage on his new place, and gave us a nice deal.
Rent, with my boyfriend. I really hate renting but I'll be doing it at least a few more years.
I rent. I would like to own, but since I'm in school, and I live in the SF Bay Area, owning is pretty much out of the question for the near future.
rent. with my income and my other halfs income we've been refused a mortgage by most of the banks as we dont earn enough. still got my mother in the granny wing as we call the converted garage she helps with bills as well
Own/paying mortgage. Like others, pay a bit extra each month in an effort to make extra headway. And, the U.S. federal mortgage interest deduction is da bomb. 
And, the U.S. federal mortgage interest deduction is da bomb.
We used to get tax relief on mortgage interest payments here (MIRAS - mortgage interest relief at source). Sadly, it's now a thing of the past as Gordon Brown abolished it in 2000 (because he's a git).
At least I get to count the mortgage interest I pay on the buy-to-let against the income when calculating the net income to pay tax on.
It would be nice to see MIRAS make a return at some point; it was a very useful bit of tax relief to many people.
Damn. That's almost twice our mortgage payment, and we have over 1800 sq. feet with a garage. What state are you in? *checks* Oh, Massachusetts. That explains it. Real estate is much cheaper in Texas. That's one of the very, very few perks of living here.
I rent. It's the time of year where I wonder why the hell I'm still here - the kitchen is freezing cold due to the old floor tiles down in there, and a shitty back door. I have no heating in my bedroom except for a small halogen thing. Investing in an electric blanket soon.
Really wish I had enough money get a downpayment for a house and a mortgage. I could have a real house!
Really wish I had enough money get a downpayment for a house and a mortgage. I could have a real house!
I rent. It's a pretty sweet deal too. A gorgeous and large 4 bedroom two bath in a new (well, new when we moved in, 3 years ago) 3 family building in a great part of Brooklyn, and we're paying only $2000. Still, I'm getting tired of living with roommates, so am looking into getting my own place.
First, I wish I could use the term "git" and get away with it, instead of having people just look at me like ...
What a great and evocative term! Second, people argue all the time here that the US deduction should be abolished, that it's an unwarranted subsidy for home owners. I can understand the argument but ... I hope it stays. Which I think it will, as it's fairly well entrenched at this point. It literally made the difference for us, initially.
ummmmm ..., not to sound all stalkerish or anything, but the townhouse that mirrors mine in our little complex just became available for rent (and possibly for purchase at some point in the future.) The owners are VERY dog friendly, as is the rest of JP.
PM me if you wanna discuss. No pressure. Just sharing.
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