Rent or buy?
Mar. 29th, 2009 11:44 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
rawneeBeing a tenant myself, I found this article interesting. I know it's an old one but the issue was raised again recently. Thankfully we aren't at risk of it happening to us as our landlord doesn't have a mortgage on the property but our previous landlord did, along with huge debts and a business that had to go into voluntary liquidation. Having listened to my father in law complaining about tenant's rights and how he can't do this or do that I have realised in the past that this is incorrect. Tenants don't have as many rights as landlords do.
We were given notice to quit on our last property because we had fallen into arrears that we were finding impossible to claw back after my husband had his accident. I went to a lettings agent to ask about the probability of getting a rental home that would allow dogs to be told that, in my circumstances I would find it difficult to get a home at all! I asked him what he meant but got no reply and later on that day, a hand delivered notice to quit was psoted through the door. Very unprofessional to say the least, so I called at the office and asked what it was all about. I knew the lettings manager there and explained that it was very poor of the business owner to do that and that, in all honesty, I was shocked that I could be blacklisted before I even started applying when the property we had been living in had had no maintenance done to it since we'd moved in 9 years previously. I told the agent about the state of the house and said it was unfair that I could be labelled like that but people couldn't be warned about what a bad landlord I had.
Anyway, I went to the local council for advice from them. The house was riddled with damp, the landlord told me to put a plant in front of it to draw the moisture out; the electrics were dodgy and the gas fire had been checked twice in 9 years. We had to get British Gas out to take a look at it as there was something wrong and he immediately disconnected it and put a huge red warning sticker on it. The landlord came round, had a look at it and did nothing but serve us with the eviction notice THREE months later and still no heating.
We managed to find the house we are now currently living in but came across this delight when we moved a bookcase. It stank! Environmental health were called in and we were told it was no surprise we had so many health issues. Husband had got a weird looking rash from the mould and damp and I suffered with asthma. A report was put together to send to the landlord and we were told that, if they were going to continue to chase us for the arrears, we could counter claim for the state of the house.
Thankfully, we found somewhere warm and dry and a landlord who will actually fix things if there's anything wrong with the house and always makes sure everything is OK.
So, hopefully, with a compensation payment looming (though I'm not holding my breath), we've been contemplating putting the money into our own business or buying our own home. Whilst renting is all well and good if anything goes wrong, we're limited as to what we can do with the house and it never feels like 'home'. As far as 'dead money' goes...isn't that what interest payments are as well? You don't actually get anything back for it and you still have to pay for anything that goes wrong in your home. I'm still erring on the side of buying our own place though.
We were given notice to quit on our last property because we had fallen into arrears that we were finding impossible to claw back after my husband had his accident. I went to a lettings agent to ask about the probability of getting a rental home that would allow dogs to be told that, in my circumstances I would find it difficult to get a home at all! I asked him what he meant but got no reply and later on that day, a hand delivered notice to quit was psoted through the door. Very unprofessional to say the least, so I called at the office and asked what it was all about. I knew the lettings manager there and explained that it was very poor of the business owner to do that and that, in all honesty, I was shocked that I could be blacklisted before I even started applying when the property we had been living in had had no maintenance done to it since we'd moved in 9 years previously. I told the agent about the state of the house and said it was unfair that I could be labelled like that but people couldn't be warned about what a bad landlord I had.
Anyway, I went to the local council for advice from them. The house was riddled with damp, the landlord told me to put a plant in front of it to draw the moisture out; the electrics were dodgy and the gas fire had been checked twice in 9 years. We had to get British Gas out to take a look at it as there was something wrong and he immediately disconnected it and put a huge red warning sticker on it. The landlord came round, had a look at it and did nothing but serve us with the eviction notice THREE months later and still no heating.
We managed to find the house we are now currently living in but came across this delight when we moved a bookcase. It stank! Environmental health were called in and we were told it was no surprise we had so many health issues. Husband had got a weird looking rash from the mould and damp and I suffered with asthma. A report was put together to send to the landlord and we were told that, if they were going to continue to chase us for the arrears, we could counter claim for the state of the house.
Thankfully, we found somewhere warm and dry and a landlord who will actually fix things if there's anything wrong with the house and always makes sure everything is OK.
So, hopefully, with a compensation payment looming (though I'm not holding my breath), we've been contemplating putting the money into our own business or buying our own home. Whilst renting is all well and good if anything goes wrong, we're limited as to what we can do with the house and it never feels like 'home'. As far as 'dead money' goes...isn't that what interest payments are as well? You don't actually get anything back for it and you still have to pay for anything that goes wrong in your home. I'm still erring on the side of buying our own place though.
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no subject
Date: 2009-03-29 03:47 pm (UTC)Renting - can be evicted at any time with good reason and notice, however normally they can't do anything until your agreement is up unless they have a legal case to do so. If something breaks and its not your doing the landlord fixes it. He also manages upkeep. Rather he should do these things. But if you rent for 20 years you've paid for the house and the repairs in full anyway.
I can see the good in either. We own, and today I would rather rent it, but yeah. Will have to fix it up ourselves when we have the cash. -shrugs- personal preference. Once houses get up and doing they're fairly good to go, and with insurance it can pay off most accidental things. So, if you can afford the mortgage and insurance, and put aside some for covering your insurance excess, its all good.
no subject
Date: 2009-03-29 04:17 pm (UTC)I also want to get a bunglow because of Paul's problems with his leg and with the way the housing market is, I'm hoping that the compensation comes through before it starts picking up again.
As you say, keep some aside for emergencies is something we need to do as well. Sadly, if we have money, we feel the need to spend it lol.
no subject
Date: 2009-03-29 07:33 pm (UTC)But yeah, I want to get my shit together and get a bungalow outside of town with a bit of land. Even if we don't move into it this year, I want to get one cheap, ya know?