http://finance.yahoo.com/loan/mortga...e_down_payment
Does everyone agree with buying and not renting if you can afford the down payment? I don't know if I agree in all cases. If you're going to rent for a short time, what if property values go down due to short term economic factors? Plus you have to take mortgage and loan costs into consideration. You may not recoop your investment. I think it depends on the area and other factors.

That's exactly why I renting at the moment - because of the points you make.

We're first-time buyers, but we're not exactly which area we'd like to settle down in. And because of concerns about the property market here in the UK, I don't want to rush blindly into buying a property - any property - simply to get on the ladder, if it means any kind of negative equity hitting us quickly if there's deflation in the market (which is expected over the coming 2 years).

Additionally, when we do find a house we like, the fact that we're not in chain could mean we can only not be more attractive to sell to - but also negotiate a reduction in price.

I think it is worth underlining that trying to get on the property ladder is a worthwhile aim - but because it's such a huge investment, not to jump in blindly.

2c.

I'm renting too and I'm more than happy with it. The additional costs connected with owning a house, from taxes to costs for repairs and god knows what, it's a bit much for me and I'm content with the knowledge that I dont OWN my place.

I rented for 5 years before I bought a house and I got the same kind of arguments from people. "Renting is throwing away money" these people would say. My sister bought a co-op in the late 80's and then the market collapsed and she ended up taking a huge loss just to rid herself of the place. After that, people kept quiet about me renting.

Ha yes I've had the same kind of comments, as said before I just see more good sides than bad ones to renting right now.

I finally bought a home after renting for about 7 years. Renting just made sense for me then. I think it's important that people don't rush into buying a home until they feel ready, not just financially, but in every way. Otherwise, you could get yourself into trouble with a major purchase.

I wouldn't worry about property deflation as in the long-term it just rises. I lost my house in a messy divorce and I was faced with buying somewhere small and pokey for just me or stay in rented. I just needed somewhere to settle and since then the value is up around 80%. That gives me a much better shot at a nicer property than if I'd have just rented and rented and have to invest more in a mortgage. Count your rental fees against property inflation values and the difference of what you could be losing out on can be pretty staggering.

I think Palm has touched on a good point here, at times its good to buy something small, possibly not in the most desired location as leverae for what you really want.

It depends, if you're staying short term (less than 5 years) then it is wiser to rent, otherwise, buying is the way to go.

I have to admit I'm getting more and more concerned about UK property prices - it's looking increasingly likely that our options are:

1. More desirable house in a less desirable location
2. More desirable location and a less desirable house.

In our place, it is always advisable to buy (if you can afford) rather than to rent because the cost of real estate is always increasing considering that there are less and less places to build houses. If the area of the house is very accessible, it would mean a high rate but those which are also in the outskirts, it is also not good to keep on renting as when accumulated, it sums up to a high price and you can never own the property.

i choose renting first. that's because i plan to build first assets (investments from which i can earn passive income--by leasing out apartments) before buying liabilities (e.g. a house of my own--this is not actually considered an asset--only an asset of the bank and YOUR liability since it takes away money from you every month) that way it would be easier for me to pay out mortgages for houses since i don't have to depend only on one income.

I would rather by than to rent. I do not want to pay money on a house or apartment and end up with nothing when I move out. Houses are an investment even when they are your own residence.

Renting offers greater mobility and options. Real Estate may not increase as rapidly as it has in past years. It may not continue to appreciate as much.

Renting in no way offers more options unless your thinking short term. If you want to live with a pet, you have to make sure they're allowed which often its not. I hate woundering whats going to happen after the lease is up, they might jack the prices up for all you know.

I would rather buy a house, because you know that you will end up with something when you decide to move on. If you rent an apartment, when you want to move you don't get any money to carry on to your next residence.

I think that in some instances it is neccessary to rent, but it should be avoided if possible. If you are just out of college and still starting off, then I would have to recommend renting, but if you have enough money to buy, then you should definately make the down payment.

in th long run it's better but most lower middle class people can't afford to buy there own home so renting is the only option.

Hello to all:

Just joined in. I believe the best bet is, as you most have said, Buy Not Rent. However, if you can afford it, "Buy and Sublet" then Rent for tax purposes. The other point is the the European Property market has become unaffordable. I've been living in Spain for the last 7 years and evryone is complaining about rocketing prices, especially with the €. Those with higher incomes are investing heavily in the UAE because of the Tax system (None), returns are impressive.

For information based on personal experience and supported by most international market researchers i.e. Oxford Reaserach Group:

a niche emerging potential market is Morocco. I was impressed, after being away from it for more than 12 years. You can buy a brand new property, obviously depending on the area, ie. in The Northern Mediterranean Coast starting at 60.000 to 80.000 € +, with amazing tax advantages. Still, in the dearer and "snobish" area of Marrakesh prices start at about 150.000 €.

However, if you do so, one good advice, only buy it by previously incorporating an off the rack "off-shore" cie. in Gibraltar, Jersey or Guernsey.

Hope it serves anyone's interest in that area.

Hello to all:

Just joined in. I believe the best bet is, as you most have said, Buy Not Rent. However, if you can afford it, "Buy and Sublet" then Rent for tax purposes. The other point is the the European Property market has become unaffordable. I've been living in Spain for the last 7 years and evryone is complaining about rocketing prices, especially with the €. Those with higher incomes are investing heavily in the UAE because of the Tax system (None), returns are impressive.

For information based on personal experience and supported by most international market researchers i.e. Oxford Reaserach Group:

a niche emerging potential market is Morocco. I was impressed, after being away from it for more than 12 years. You can buy a brand new property, obviously depending on the area, ie. in The Northern Mediterranean Coast starting at 60.000 to 80.000 € +, with amazing tax advantages. Still, in the dearer and "snobish" area of Marrakesh prices start at about 150.000 €.

However, if you do so, one good advice, only buy it by previously incorporating an off the rack "off-shore" cie. in Gibraltar, Jersey or Guernsey.

Hope it serves anyone's interest in that area.