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Also opportunity cost of having capital tied up in bricks.
BUT nobody is saying renting is a great idea in the UK for the most part; there’s a reason why people are desperate to buy here because unless you have shitloads of cash and just do not care renting is too expensive.
In bits of Europe not so much if not the opposite.
Howard
@Dammit
My mortgage is £500/month, the cost of renting the place would be ~£1,500/month.
Service charge however is over three grand per year and we have a section 20 this year for just under four grand.
I’ve also put a lot of time and money into getting got flat into its current condition.
We paid £190,000 and it’s now worth £450,000 or so, which does impact on the above.
However, the “its the home we wanted” does trump the financial aspect, as if we rented we’d never have found anywhere similar.