You’ve Been Lied to About Owning a Home

[@davidcorbett6694]

Speaking as a married couple who lived in Australia, in 2006, myself and my heavily pregnant wife were made homeless,, from our shared house, we return to Ireland, rented a house for 5 years, took out a 25 year mortgage, we paid it off in less than 12 years,, I wouldn't wish homelessness on anyone, when own your own home outright you have the comfort in knowing, you can never be made homeless, by either the bank or a greedy landlord.. Buy a house, pay it off ASAP. have no more dealings with banks..

[@djzrobzombie2813]

How is life now a days for you in Australia?

[@Gilly-gx8rt]

Rents have gone through the roof. Mortgage payments are significantly less. It’s a no brainer! I however wish I had leveraged the equity on my property before I left my PAYE job

[@benking9593]

If I was renting my house that I currently pay a mortgage on, I'd be paying double what I pay out each month now. I know that for a fact. Your paying a mortgage either way, with renting your just paying someone else's mortgage. I know which one I'd rather do. Also, my elderly mother was turfed out by her landlord after two years because the landlord wanted to give the house to his daughter. With renting, you have to do it for your entire life, a mortgage is 25 years and done!

[@Theoobovril]

Rent is a financial millstone around your neck for life, buying is only a financial millstone around your neck for 25 years, which one would you prefer ???

[@isildursbane2758]

So all the property manages say you should rent what a shock 😂

[@EveryCloud9999]

In the UK it’s home ownership hands down!

[@light1531]

Assuming the tax on capital gains never changes toward Primary Residence over say £500k or U.K. council tax rates become more like property taxes! 😮 Or we go toward wealth taxes! 😟

[@EveryCloud9999]

@@light1531 Rental also tend to pay Council Rates.

[@light1531]

@@EveryCloud9999 That sounds like a good one to change in the next few years. After all landowners are hated by the legacy media.

[@AJ-zf8tu]

Disagree with a lot here.There are so many variables depending on individual circumstances. I own a house bought 70 years ago for 2k,now worth 1 million plus I rent a part that brings in 13 k per year.That negates a lot what the people in this video are stating.As I said,many variables but never a bad idea to own your home,sacred.

[@barriewilliams4526]

I bought my house for £24,500 40 years ago, and have just had it valued at £275,000... I still think that buying (if you can afford to) is the far better option for people in the UK.

[@1MinuteDatingTips]

275k is not much, if you had invested that initial money into stocks your returns would have been much more

[@Technics_Trader]

Value means nothing if your buying another house Because all other house go up as well. If your selling and keeping the money then yes you made money

[@chrishart8548]

How much have you made when you adjusted for inflation and repair and maintenance cost.

[@paulwhalley6789]

⁠​⁠@@1MinuteDatingTipsso you’re saying that instead of putting down 10 percent(£2450) and making £250k worth of equity and probably paying off the £25k (which leaves him with £275k) he would have been better off putting the £2450 in stocks and renting (because he still needs a place to live) for …let’s say £3000 a year (very optimistic numbers) for 40 years - 120k then those stocks will passively and very very likely be worth more than £275k equity + 120k worth of rent = 395k?? £2450 worth of stocks worth 395,000 40 years later would have to be between that’s between 12 and 13 percent interest rate (and you’d still be renting)

[@James-bc1jk]

​@@1MinuteDatingTipswell that's a pointless comment that's a different conversation

[@patrickplaysguitar1493]

something it seems many people are missing is that when they talk about renting being a better option they are also talking about investing the remaining income you have that would otherwise be spent on your mortgage or house maintenance costs. They dont mean rent and then spend the rest of your salary on crap.

[@Skeletoncrew46and2]

Don't buy houses kids, let me buy them!

[@PibrochPonder]

Rent ALWAYS goes UP with time. Mortgages ALWAYS go DOWN with time. This is assuming you are payoff the mortgage. Renting is a mugs game. You can easily waist £100,000 in rent over 15 years. Why not reduce the mortgage by that much instead.

[@Shoestring111]

It's not waste, you get something in return.

[@Fuzzfooger]

@@Shoestring111 You get the same thing in return for a mortgage so it cancels out. You HAVE to live somewhere, therefore you might as well be buying a stake in ownership while doing it rather than paying for someone else to gain this advantage

[@Shoestring111]

Not really, they are different. Rent = flexibility, maintenance and often furnishings included. Not a waste.

[@KeyBrosUK]

@@Shoestring111don’t be silly, of course it’s not the best option. You are a landlord I guess?

[@Shoestring111]

@@KeyBrosUK bad guess. Your first sentence doesn't make sense?

[@chuck275]

Thank you for expressing an array of views. All important principles BUT its about referncing your personal circumstances, ambition, risk profile and desires to these principles. Dont listen to anyone who espouses its one size fits all.

[@ajnr99]

1st of all, great content! 2nd - nobody talked about using the increasing equity in your home to put into other investments which return higher than the 2nd charge equity loan. over a 10/15 yr period you could do this a few times. Ultimately theres no right answer, people have to find what works for them, you could rent all over the world for 15 years following career opps which ultimately make you rich to where you can buy outright or you could buy and do the exact same. in both scenarios it cant still work you just have different responsibilities with ownership.

[@theholepicture]

After cancer 3 times and rheumatoid arthritis I sure am glad I don't have a house payment, association dues, water bill (I have well) My only worry is the rich people moving in and running up my tax bill.

[@1MinuteDatingTips]

Do what’s cheaper for you, I’m a mortgage advisor and the total pay in buying a home is usually double what you paid for it.

[@StephanieLister]

exactly but father time will diminish that and the equity will increase above and beyond your repayment and interest paid combined, that's why there's no CGT on private dwelling as in the short term any increase isn't with the interest paid!

[@davidcorbett6694]

Overpay the principal every month, get the years shaved off the payments. I overpayed by 100% of my monthly payments, shaved years off,, 25 years mortgage paid off in 11 years.

[@1MinuteDatingTips]

25/30yrs stuck in one place sounds like prison to me.

[@arjunbhaduri7525]

Renting is fine if you can find a property that is nice, affordable and secure. That's difficult to find in the UK. Also rental contracts should allow greater flexibility for the tenant to leave (12 month contracts are too long)

[@SpearofDestiny-c8y]

If that is the case, as a landlord I think that we have been "tied in" more. I have several properties 2 in Wales where I must give a minimum of 6 months notice to the tenant.

[@StockBuffalo]

Buying a house on a residential isn’t a asset, paying 6% interest and double for a house after 30 years.

[@light1531]

Thinking about buying as amortising rent, so you tend to be ahead, as long as there is inflation. Aside from other taxes, condition of the property and the area staying desirable. So far central banks keep printing money and even target some inflation!!!

[@KeyBrosUK]

Property gurus telling others to rent what a surprise😂of course you’d say that, but you won’t rent yourself. I’ll never pay someone else’s mortgage.

[@mony2934]

It doesn't make sense to me... opening is definitely better in the long run but I know of people who just bought a house and sold it after 6 months and made a profit

[@adrianlittle8211]

Renting gives better flexibility. Very true

[@bobjames6622]

I agree. It gives you the flexibility to be put out on the street on the whim of the landlord. It gives you the flexibility to see your rent rise rapidly beyond your control. It gives you the flexibility to not bother with repairs, and likely the landlord won't either. It gives you the flexibility to put money into somebody elses pocket while you gain precisely nothing in a material sense. It gives you the flexibility to pay somebody else's mortgage, so their kids can inherit, while you have nothing to pass on.

[@KeyBrosUK]

Why on earth would anyone rent when they have the means to buy?

[@LiftOffLife]

If you pay property tax then your property is never yours, you rent it from the government to use it. See how fast it is dispossessed if you don't pay your tax.

Buyings definatly better if your good at diy

[@alliedfroth]

If you are over 65 then sell up & defo rent.

[@chrishart8548]

How can houses go up in value above inflation a house is a need not a want. I understand how a classic car a watch or an antique could go up as the ones left become rarer. But if houses go up because of supply and demand it just means supply is being deliberately manipulated.

[@paulwhalley6789]

It’s actually land prices that beat inflation

[@chrishart8548]

@@paulwhalley6789 it's strange though because we have a fixed amount of land how can the price keep increasing on a fixed resource

[@OutsourcingBDInstituteby-lh1pt]

Nice Video❤

[@isildursbane2758]

Renting is way more expensive than a mortgage so renting is a trap for most people at the mercy of poor landlords and no security I just had 2 months notice to leave and most rental s were high priced hell holes people on less than average wage are screwed

[@TheSpyUk]

living with your parents for 7 years is the best way to get some capital quickly.. low outgoings..

[@chrishart8548]

Definitely is but most parents are ass holes and you have to move out as soon as possible. My dad's a horder and so is my partners father. Most are just generally very selfish. I don't ask my dad for anything and he doesn't give me anything. I do everything for my children my parents said I ruined thier lives.

[@paulwhalley6789]

Best way to not get laid too

[@djzrobzombie2813]

In the western world parents are ass holes that's true

[@djzrobzombie2813]

​@@chrishart8548In the western world parents are ass holes that's true

[@stephengreen2626]

Nothing shocking or truthful here. If you ask the wrong people you get the wrong answer. Even asking the right people the wrong question is foolish. These people questioned have an entirely different way of living compared to the viewer. Talk to someone who can advise YOU rather than listened to sensationalised and generalised KZbin advice.

[@nicholasgonzo]

Understand leveraging money You cannot lens money to buy stocks

[@simonhaycockfulable]

this all depends on circumstances all situations defer from the last but for the normal every day person probably airnt in a position to buy there own property so they have to rent or mortgage but the golden rule to the masses if you can buy and not be in debt buy it why pay someone elses wages in todays world it does not pay you to be in any kind of owing any one any money its a no brainer

[@chrisevans9342]

Build a small cabin in a month....oh wait ,.....apparently the king or some self appointed land owner got to boss us all around by owning everything ...what a lie

[@StephanieLister]

rent is dead money, buying a house is a glorified saving account, do this instead IF you can

[@djzrobzombie2813]

Woman also are glorified money traps

[@mikenewbold1699]

only rent if you put yourt income into other investements that give better return and i'm a min wage mongole lol

[@KeyBrosUK]

Even then, all you are doing is making wealth for someone else. You can’t live in an investment nor can you profit from the increase in value of the property. Always buy. The only people telling you not to buy are those profiting from you renting from them. Buy, release equity and buy again. Refinance refinance refinance.

[@scottfree8726]

In Canada you can sell your primary residence after 1 year no capital gains tax.

[@fluxstandard8903]

What the fuck is the false agreement in this video, numerous times the cost of running The house wipes out value of increase of property price. Doesn’t cost 50000 over 10 year period to run a house

[@chrishart8548]

They say on average you need to put aside 2% of the property value each year to cover maintenance cost. So over 10 years that's 20% or a 1/5 of the value of the property. So if its £250k property then £50k is about right. I know people get lulucky. Some people get unlucky. But over time boilers roof widows. Kitchens bathrooms and flooring will require replacing. I know people will say a new build negates this but they will need work eventually. And actually new builds are built very poorly.

[@Dangerous_Brian]

HAHAH - flexibility sounds a lot like GAMBLING?

[@chrishart8548]

I think buying a home seems more like gambling.

[@luddicpath6756]

Andrew Tate has good advice, if you are a criminal.

[@vonyp6018]

Ive never heard so much troloop. Houses shouldnt be an investment unless its a busines. Buy a home first and get a roof over your head. Buy a house after. Buying a house is a business and its completery different. Millionaires have capitol and leverage.... start modestly. The problem with todays society is that everyone wants something for nothing yesterday

[@amanimansour9551]

.

[@OutsourcingBDInstituteby-lh1pt]

living with your parents for 7 years is the best way to get some capital quickly.. low outgoings..

[@KeyBrosUK]

I fully agree. We have this weird concept where people want to move out at 16-18 in this country and then take on financial responsibility without the means to back that up. Live with your parents as Asian families do, build that wealth and then buy when you can. Only buy if you can overpay by 100% on your mortgage and clear it in half the time, or buy outright.