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A mortgage payment is a lot lower than current market rent, however. (I bought a 4 bedroom house in London and we pay about £1200 per month mortgage on that, al
by barrkel 9y ago
A mortgage payment is a lot lower than current market rent, however. (I bought a 4 bedroom house in London and we pay about £1200 per month mortgage on that, although we actually overpay to decrease the principal faster).
Part of the reason I was able to buy, of course, was that I had saved a bunch of money, some of it invested in shares. Most people renting probably don't save as much as I habitually do, mind.
- nvarsj 9y ago> A mortgage payment is a lot lower than current market rent, however. How do you figure? Rents in London are substantially cheaper than a mortgage. In my current house, a mortgage with 10% down would be around 30% larger than the rent I'm paying. Unless you bought 5-10 years ago, but that's not really a fair comparison.