Can you live on £2.5K a month???

[bedlington83]

would this be an SE Sir?

No - just modded by both me and the Japanese guy who had it before me. (Although I wish he hadn't replaced the nose cone with the one it has now)

[Peoplesoft bloke]

2.5k...well thats the mortgage covered then.

WHS

[HairyArsedBloke]

In my greener days it wouldn't cover the bar bill.

Later it woulddn't cover the medical bills.

Now it's more than I have to live on per year.

[expat]

If you own a house and pay no mortgage you can survive on well under a 1K a month. This is precisely why renting all of your life is such a bad idea.
Think about it, those people that keep knocking home ownership !!

If you own a house and pay no mortgage, then (if you have bought it yourself) you have already paid out, that is why you don't have to pay out now.

House price inflation apart, the choice is more or less arithmetically neutral. Of course it only compares if the renter puts aside a monthly amount corresponding to the buyer's capital repayment (interest and rent correspond).


I have thought about it, and although I do own a house (on a mortgage), I can't say that I am very enthusiastic about it financially. But then I bought it to have somewhere to live, not to speculate.

(PS as a contractor, why do I have a mortgage? Well, I have paid off a mortgage but that house doesn't belong to me any more).