The edge of the crash?

[shaunbhoy]

Right, and we'll just move. More void periods for the landlord then. I wonder what they'd prefer

They will quite happily fill the house with eastern european immigrants.

[AtW]

If yields from renting property are just 5%, then one month of empty house waiting for tenant to appear is loss of almost 10% of revenues in that year - pretty much pushes yield into negative territory.

[shaunbhoy]

If yields from renting property are just 5%, then one month of empty house waiting for tenant to appear is loss of almost 10% of revenues in that year - pretty much pushes yield into negative territory.

Yes, if your maths is correct. But as it seldom is, it renders your point here as fruitless as we have come to expect across your deluded portfolio.

[lws]

If yields from renting property are just 5%, then one month of empty house waiting for tenant to appear is loss of almost 10% of revenues in that year - pretty much pushes yield into negative territory.

Better off putting your money in a savings account. I don't think some of the new BTL's are even making 5%.

In fact I wouldn't be surprised if some are even subsidising their BTL mortgage with their own cash. 'It's me pension, innit'

[shaunbhoy]

Better off putting your money in a savings account. I don't think some of the new BTL's are even making 5%.

In fact I wouldn't be surprised if some are even subsidising their BTL mortgage with their own cash. 'It's me pension, innit'

You are in rented accommodation espousing the benefits of savings accounts. Pardon me if I don't take your financial advice too seriously won't you?
Bwahahahahahahahahahahahahaha!!!!

[DimPrawn]

My house is considerably richer than yow!!

[lws]

You are in rented accommodation espousing the benefits of savings accounts. Pardon me if I don't take your financial advice too seriously won't you?
Bwahahahahahahahahahahahahaha!!!!

Er, no I was saying that instead of investing in BTL now and getting a piss poor return that it would probably be less hassle and risk to put the money in a savings account

[shaunbhoy]

Er, no I was saying that instead of investing in BTL now and getting a piss poor return that it would probably be less hassle and risk to put the money in a savings account

But nonetheless, you are offering advice essentially on the property market from the position of someone who has yet to climb aboard it. Won't fly I'm afraid.

[expat]

Usual stuff now, thread degeneration: everybody just yelling about how they are smarter that the other guys and so will get richer/less poor.

Personally I can see different reasons for doing different things.

I wouldn't BTL now, yields are too low. But the yield on any investment depends on the price you paid for it then. If I already had it, I'd keep it (in fact I did but I had to give it to someone else, but that's another story).

I see the reason for renting rather than buying in some cases, e.g. want to stay 2 years in a high-cost area, then move to a lower cost area. That is exactly my position; so I have tried renting, but the problem is that I don't like it, so I will buy instead, but against my judgement.

If I intended to stay where I am for 10 years, I'd buy, even now, without hesitation. For 2 years, renting makes better financial sense. But...

Theoretically you don't pay for repairs when you rent, in practice you have to chase up the landlord. Even a successful chase-up is something I just don't want to be arsed with, I'd rather DIY. And I don't like his bog seats, flush mechanisms, taps, cooker, kitchen counter, cupboards, door handles etc etc (no I can't find a place that fits the bill that I do like: choice is limited because location is restricted to walking distance to a specific school). And we're breaking the lease by smoking in the house, could lose deposit. And the agency come round to inspect the place regularly, which is a bit demeaning. Hiding the ashtrays is something I didn't expect to have to do at my age.

So I'm buying now not because I think it's a good investment but because it gets me what I want: my own house.

Every case is different.

[expat]

But nonetheless, you are offering advice essentially on the property market from the position of someone who has yet to climb aboard it. Won't fly I'm afraid.

Do you only take life insurance advice from someone who has already died?