I bought my first house at 23 and have lived here for 7 years now. I kind of regret my decision to buy because I am essentially stuck in this area for the time being until the market favors sellers more than buyers. I haven't struggled with the payment at all but home repairs are not fun! I think you have made a good decision for now by choosing to rent. It looks like a beautiful apartment!
First I thought you have a greenscreen now :) But no: congratulations for this nice white shining flat! You already argued for a flat (vs house) in another video before, but I´m not sure, if the crypto-and stockmarket is also crashing, when the building bubble is bursting. If I had enough money, I would buy some cheap property in warm Spain.
As always you present reasoned cogent arguments but my experience of the property market is that logic does not always apply. People have been forecasting the death of the London property bubble for over 10 years and prices have just gone up and up. Also it is my belief that if there is a huge financial crash, physical assets be they gold, silver, art, or property will dramatically increase in value.
Good insights, appreciate you sharing. As mentioned in another comment below, home repairs are also not to be underestimated. Renting keeps things low stress. And keep waiting for that buyer's opportunity, solid plan.
When you say "keep cash on standby", do you consider money invested in crypto to be on standby?
Next best thing than renting is living at home with parents! But u r no doubt at the age where you need to spread your wings, so you probably should fill out your personality with some space! And renting is definitely better than buying - especially in the UK - wait until the interest rates spike, and the prices crash! It's only a matter of time...
Sounds like a wise decision in your situation.
A couple of years ago, when the housing prices in my country dipped, I decided to buy a house. Main reasons were that I then had settled in a nice job and the overall costs of living are a lot lower when buying (also because of incentives).
However if I had invested part of my savings - that I used for buying the house - into crypto at that time I would now probably have no need to work anymore...
I agree with you at this point in my life. I like having the freedom to move if my situation changes.
You mentioned that people could struggle if the interest rates go up. That would really only apply to ARMs. If you have a more common fixed-rate mortgage then it wouldn't impact you. Your rate would stay...fixed. :)
I also agree that it's hard to want to pay all that money for a down-payment when you can be buying crypto (hopefully) at the lows now and see potential for massive growth.
yeah should probably just rent...
Wow nice place!
I bought my first house at 23 and have lived here for 7 years now. I kind of regret my decision to buy because I am essentially stuck in this area for the time being until the market favors sellers more than buyers. I haven't struggled with the payment at all but home repairs are not fun! I think you have made a good decision for now by choosing to rent. It looks like a beautiful apartment!
First I thought you have a greenscreen now :) But no: congratulations for this nice white shining flat! You already argued for a flat (vs house) in another video before, but I´m not sure, if the crypto-and stockmarket is also crashing, when the building bubble is bursting. If I had enough money, I would buy some cheap property in warm Spain.
Every article that I've read usually leads toward renting. I agree with that idea.
Dont you think taking a credit is way better than renting anything?
Happy New apartment in Cardiff! Nice kitchen.,,
I mean it is not bad"!!!
logical words for renting house. as a member of renting house I supported this post.
Bought an apartment but hate how it ties me down. Don't travel as much as I used to.
As always you present reasoned cogent arguments but my experience of the property market is that logic does not always apply. People have been forecasting the death of the London property bubble for over 10 years and prices have just gone up and up. Also it is my belief that if there is a huge financial crash, physical assets be they gold, silver, art, or property will dramatically increase in value.
Nice post @louisthomas
New apartment, a new home and a new life
Nice new apartment, congrats!
Good insights, appreciate you sharing. As mentioned in another comment below, home repairs are also not to be underestimated. Renting keeps things low stress. And keep waiting for that buyer's opportunity, solid plan.
When you say "keep cash on standby", do you consider money invested in crypto to be on standby?
Houses tie you down. I don't like baggage. I also despise banks and our current debt slave system.
Next best thing than renting is living at home with parents! But u r no doubt at the age where you need to spread your wings, so you probably should fill out your personality with some space! And renting is definitely better than buying - especially in the UK - wait until the interest rates spike, and the prices crash! It's only a matter of time...
In my country houses are very expensive, so i will dedicate almost my entire life to pay for that. I prefer renting a house, it give me more freedom.
rent=freedom
Sounds like a wise decision in your situation.
A couple of years ago, when the housing prices in my country dipped, I decided to buy a house. Main reasons were that I then had settled in a nice job and the overall costs of living are a lot lower when buying (also because of incentives).
However if I had invested part of my savings - that I used for buying the house - into crypto at that time I would now probably have no need to work anymore...
Im renting right now. Im lazy :D
But perhaps, if the next crisis comes, house prices will drop, I might buy.
I agree with you at this point in my life. I like having the freedom to move if my situation changes.
You mentioned that people could struggle if the interest rates go up. That would really only apply to ARMs. If you have a more common fixed-rate mortgage then it wouldn't impact you. Your rate would stay...fixed. :)
I also agree that it's hard to want to pay all that money for a down-payment when you can be buying crypto (hopefully) at the lows now and see potential for massive growth.