Renting or Buying?

For $2 million, she can move South and have a great house, a bigger yard, and money to spare.

****ing hell, 2 million???

Well I would have loved to have bought, but the only thing I could really afford on my own would have been a 1 bed flat in a run down area. The only other I could have done is bought with a friend but I really didnt want to share. So instead I rent a two bed house, the rent is alot chaper than a mortgage so I can still save. It works for me, I really dont know how single peoiple can afford to buy in this country it is a nightmare. I should have bought 5+ years ago when decent houses were going for peanuts.

Kev in your position, unless you are going to buy with someone else I dont see that you have much option but to rent...

I was renting an apartment for just under a year but as you've already mentioned, the downside to renting is that you're paying money each month to live there and don't have anything to show for it. I spent quite a bit of time looking for my current flat but managed to get it at a really good price because it was a repossession...it's needed quite a bit of work doing to it but has definitely been worth it.

You cant. I'm in a good job, great wage... and still would only afford to buy a shithole in a crap area.. and even that would be out of my price range.


I'm waiting until i'm either in a steady, happy relationship, i rob a bank or win the lottery before i start looking for a place to buy.

it sucks for our generation in this country trying to buy a house in your 20s is way beyond most people . the average age of 1st time buyers is around 34. we need major affordable house building projects all over the country.

Around here - there really is no price on an acre of land. Very few properties have that much land. A few towns away in Saddle River the minimum lot for building is 2 acres. It is a very exclusive community that Presidents retire to (Nixon lived there) and wealthy movie and TV stars live there. It used to be farm land which is why there is more room. The starting price there - on a dump of a house though is over 5 million. These days people buy old farmhouses for a fortune there and then bulldoze them and build Mc Mansions.

As I said though - real estate is a good investment (if you can afford the inital investment) because there is usually a good rate of return - even if you don't improve the property.

This area is less than 20 miles from New York City and the train station is 3 blocks from my house. You can be in Manhattan in 1/2 an hour. That also makes the area quite convienient and valuable. You have all the advantages of the city without actually living there. If you think the prices are high here - you should price a 2 bedroom condo in Manhattan. It's nuts.

Kathleen

I am renting, and as quite a few people mentioned, I can't even think how I would manage buying a house and paying the mortage by myself... It's impossible!

I am living here for 4 years now, and of course it's dead money, I am deadly aware of that, but being single (again) I can't imagine buying something, not knowing what the future will bring. I live a 5' walk from work which is sooooo good, but I would love to live in the country in the middle of nowhere between the cows and such...

So renting it is, or I should maybe get another freakin" well paying job... still... wheh I love what i am doing now

LeEnTjE

Good lord!! How big is your house???