Would you rent a detached house, or buy an attached house?
Discussion
Currently i rent a detached house. It has a garage, driveway, can make as much noise as i like, good neighbours and nice location.
It is basically perfect for myself (i live on my own).
However i grates slightly the amount i pay in rent could be paying off a mortgage
Plus I'm getting on a bit (27), and houses are going up in price faster than my income!
However with just my income I'm limited to houses around £200K, which does not buy a lot, and certainly not detached.
Now ive never lived in an "attached" house, so not sure if you get used to it?
I spend a lot of time in houses due to my job, and it seems you can hear everything your neighbour does!!
I like to make a bit of noise, guitar's, music etc, plus my hearing is not the greatest so tend to have everything played rather loud!
So the question really is, would you rent a detached house that is perfect to your requirements? Or buy an attached house that is likely to drive you insane?
It is basically perfect for myself (i live on my own).
However i grates slightly the amount i pay in rent could be paying off a mortgage
Plus I'm getting on a bit (27), and houses are going up in price faster than my income!
However with just my income I'm limited to houses around £200K, which does not buy a lot, and certainly not detached.
Now ive never lived in an "attached" house, so not sure if you get used to it?
I spend a lot of time in houses due to my job, and it seems you can hear everything your neighbour does!!
I like to make a bit of noise, guitar's, music etc, plus my hearing is not the greatest so tend to have everything played rather loud!
So the question really is, would you rent a detached house that is perfect to your requirements? Or buy an attached house that is likely to drive you insane?
Completed depends upon the property and your neighbours.
I live in an attached Cotswold cottage. The walls are 18" of stone. I can make as much noise as I want and likewise my neighbours and we never hear each other. And I get on with my neighbours.
If the property has thin walls and you don't like your neighbours, your experience may be different....
I live in an attached Cotswold cottage. The walls are 18" of stone. I can make as much noise as I want and likewise my neighbours and we never hear each other. And I get on with my neighbours.
If the property has thin walls and you don't like your neighbours, your experience may be different....
fatboy b said:
Stay where you are. Buy the £200k house and rent it out.
This is probably your best option. If you could afford to you could put money into Property unit trusts which should in theory increase in line with property values.Would your house owner consider selling to you? Perhaps you could buy a share in it with a proportionate reduction in rent and eventually you could be in a position to buy it entirely?
personally I would in this instance equate "perfect" with "excessive" ... its about perspective ...
could you afford rent plus a mortgage in the instance there is no rental income present ... if not ... man up, move to the terraced/semi and stop throwing money down the drain paying off someone else's mortgage
could you afford rent plus a mortgage in the instance there is no rental income present ... if not ... man up, move to the terraced/semi and stop throwing money down the drain paying off someone else's mortgage
How long would you likely stay?
The old "sick of paying someone else's mortgage" trope comes out again... undoubtedly it's financially better long term to be paying off your own house, but most people neglect to account for the other bits: moving in to your 200k house you'll have £1500 in stamp duty to pay, that's pissed away; depending on your mortgage rate you might be paying £400+ per month in interest so that's just pissed away too; factor in any benefits you currently enjoy as a renter i.e. no liability for maintenance and problems with the building, appliances etc.
If you're going to do the maths, do them in full.
In almost all cases you're better off buying but it might not be the night and day difference that you picture. If you're going to stay 5-10 years then that's a completely different kettle of fish to if you expect to need to move again in 18 months say.
The old "sick of paying someone else's mortgage" trope comes out again... undoubtedly it's financially better long term to be paying off your own house, but most people neglect to account for the other bits: moving in to your 200k house you'll have £1500 in stamp duty to pay, that's pissed away; depending on your mortgage rate you might be paying £400+ per month in interest so that's just pissed away too; factor in any benefits you currently enjoy as a renter i.e. no liability for maintenance and problems with the building, appliances etc.
If you're going to do the maths, do them in full.
In almost all cases you're better off buying but it might not be the night and day difference that you picture. If you're going to stay 5-10 years then that's a completely different kettle of fish to if you expect to need to move again in 18 months say.
Depends on many factors, rental payments against mortgage interest payments, price purchasing property, flexibility of moving when renting etc. etc.
Recently been looking for a rental at property along Badminton Road, Downend, some good dated properties that need improving, so scope for good capital gain, and if one is a single person, there is also the chance of a room/s to let tax free option.
Another possibility is to buy a property unoccupied for 2+ years, the same reduces any repairs, contractors costs etc. down to 5% VAT.
Recently been looking for a rental at property along Badminton Road, Downend, some good dated properties that need improving, so scope for good capital gain, and if one is a single person, there is also the chance of a room/s to let tax free option.
Another possibility is to buy a property unoccupied for 2+ years, the same reduces any repairs, contractors costs etc. down to 5% VAT.
I bought my first house at 21 , and had paid for it before I was 30.
There are few things more pleasing and stress reducing than being rent/mortgage free. Plus of course, with the latter , you could be in that position, with the former, you never ever will be.
As for noise, don't buy a house built later than the late 70's, the use of timber frames and stud walls becomes endemic after then.
Plus of course, check out the neighbours, can make alot of noise if they are often out, when you are in.
There are few things more pleasing and stress reducing than being rent/mortgage free. Plus of course, with the latter , you could be in that position, with the former, you never ever will be.
As for noise, don't buy a house built later than the late 70's, the use of timber frames and stud walls becomes endemic after then.
Plus of course, check out the neighbours, can make alot of noise if they are often out, when you are in.
Renting when you could be buyings just so much dead money. Look at it as paid off and owning outright in your 50's and thinking about semi retirement rather than still needing to find ££££ every month.
Noise... yeah but thats life. Really depends on neighbours but you get used to it.. Refurb and soundproof if it bothers you that much, have a posh shed thing in the garden for noisy guitars (popular with drummers!), try to find a halls-adjoining semi if you can although they tend to be rarer, and bigger so maybe out of budget.
Noise... yeah but thats life. Really depends on neighbours but you get used to it.. Refurb and soundproof if it bothers you that much, have a posh shed thing in the garden for noisy guitars (popular with drummers!), try to find a halls-adjoining semi if you can although they tend to be rarer, and bigger so maybe out of budget.
I haven't lived in an attached house for many years now and don't ever intend to do so again. You hear so much - and if it's a modern house, you will even hear things like them switching the lights on.
One thing which I have wondered now - given that every audio accessory these days comes with a sub, presumably that is a bane of modern life in attached properties? I'm decently separate from my neighbours but can still clearly hear when their sub gets turned up.
One thing which I have wondered now - given that every audio accessory these days comes with a sub, presumably that is a bane of modern life in attached properties? I'm decently separate from my neighbours but can still clearly hear when their sub gets turned up.
CAPP0 said:
I haven't lived in an attached house for many years now ... modern house, you will even hear things like them switching the lights on.
Loads of direct experience thenAnd what a load of rubbish ... I'm not suggesting for a moment that they're soundproof cells but really, light switches, get real, we owned a small number of new builds and they noise insulation for modern use was more than adequate in them all
I'm living in a 50's semi and the only thing I hear every now and again is the faint sound of hangers sliding on a hanging rail, I presume because it's screwed directly to the joint wall and the sound frequency happens to be just right for decent transmission through that particular wall. I don't hear anything else.
That being said, I do find myself being conscious of disturbing the neighbours if I'm playing music or have the sound on a film turned up etc. I have no idea whether they can ever hear anything, nor have they ever complained.
Whilst I don't mind living in a semi, I'd prefer to live in a detached house and I think it'll likely be fairly high on my list of criteria for the next house.
That being said, I do find myself being conscious of disturbing the neighbours if I'm playing music or have the sound on a film turned up etc. I have no idea whether they can ever hear anything, nor have they ever complained.
Whilst I don't mind living in a semi, I'd prefer to live in a detached house and I think it'll likely be fairly high on my list of criteria for the next house.
alorotom said:
CAPP0 said:
I haven't lived in an attached house for many years now ... modern house, you will even hear things like them switching the lights on.
Loads of direct experience thenAnd what a load of rubbish ... I'm not suggesting for a moment that they're soundproof cells but really, light switches, get real, we owned a small number of new builds and they noise insulation for modern use was more than adequate in them all
However, I'm really sorry, I forgot that you were there all the time, monitoring noise for me when I lived in terraces and semis, it's good of you to remind me that the light switches etc which I thought I could hear were actually all in my imagination.
t
t.As above.. buy something to rent and stay put!
We were in a terraced place and whilst one side basically never lived there, the other side was hell. Noisy couple, noisy kids, noisy dogs, noisy washing machine. And a front door slam that'd echo through our house. We're in a detached rental at the moment and get the keys for a semi next week. The detached place has been great and the semis got a single widower in, should be fine.
Needs wiring looked at as it happens..
We were in a terraced place and whilst one side basically never lived there, the other side was hell. Noisy couple, noisy kids, noisy dogs, noisy washing machine. And a front door slam that'd echo through our house. We're in a detached rental at the moment and get the keys for a semi next week. The detached place has been great and the semis got a single widower in, should be fine.
Needs wiring looked at as it happens..
Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff