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Another reason is that the housing market is grossly inflated (UK). I would get a better house to rent for £1000/month rent than a house for £1000/month interes
by laythea 9y ago
Another reason is that the housing market is grossly inflated (UK). I would get a better house to rent for £1000/month rent than a house for £1000/month interest-mortgage, in addition to the professional "flexibility" off not having the mortgage "to loose". I am a contractor, so I move around with the work, and certainly earn more income doing so also. The long term, is that I make it big, and then outright buy a house. All or nothing! And in the meantime, I pick up the phone when the house needs maintenance :)
- fyfy18 9y agoIt's also worth taking into account the level of finish. As a landlord it’s almost always not worth spending more for good quality items, as they usually won’t increase your returns. It’s more important how the property looks, than the quality, which I’d say is why IKEA is so popular nowadays. If you want an induction hob, a good mattress, proper ventilation system so the windows don’t have condensation and something other than paper thin walls, you are pretty much out of luck in the UK. On the other hand if you are fitting out your own place, upgrading to better quality items like this doesn’t really cost that much more (e.g. £200 for an induction hob vs £100 for a ceramic hob).
- laythea 9y agoI would add that all sorts of houses are available for rent. I am not talking about student housing etc.