London: Any sense renting if you can afford to buy?
Discussion
Nice simple question for anyone with experience and knowledge.
Currently I rent (900/month) but can afford to buy.
I need to move to London and this will mean rent going up to 1200/month.
Is there any financial sense at all in renting? I will never see the 1200/month back (14400/year). I don't really want to buy. I'm not into houses/property. It is hassle, and I've got a lot of much, much more important things going on in my life that I won't go into but you'll have to trust me on that. However in a purely financial sense it does seem like a better thing to do with the money while I'm dealing with everything else in life. Is this as good a reason as any to buy?
And can I take advantage of a first-time buyer deal? Or is this restricted by age/status/deposit/political preference/other?
Appreciate the collective experience.
Currently I rent (900/month) but can afford to buy.
I need to move to London and this will mean rent going up to 1200/month.
Is there any financial sense at all in renting? I will never see the 1200/month back (14400/year). I don't really want to buy. I'm not into houses/property. It is hassle, and I've got a lot of much, much more important things going on in my life that I won't go into but you'll have to trust me on that. However in a purely financial sense it does seem like a better thing to do with the money while I'm dealing with everything else in life. Is this as good a reason as any to buy?
And can I take advantage of a first-time buyer deal? Or is this restricted by age/status/deposit/political preference/other?
Appreciate the collective experience.
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