Rental Properties, A Waste of Money? | Sunday Thoughts

So, we may not all have the same opinions on this topic and that is absolutely fine. But today, I’m here to share my (well, and Nathan’s) personal opinion on rental properties.

Nathan and I have been renting out house for just over a year now, and I think it may have just been the worst choice of our lives. Well, maybe not the worst. I mean, we now know that we can live together and that we can afford it – just about. However, we have come to the realisation that it’s just a big waste of money. We never should have signed an extra 12 month lease with our landlord back in August. We should have gone back to living with parents and saved for a mortgage. Why? Well, because we know we want to live together, we know we can live together and to be completely honest with you we know we’re together for the long run. So why not? It’s something we’ve been discussing since way before Christmas, and although it’s something that is going to be a struggle at first, you know going back to living with parents and not having a whooole house to ourselves. But in all honesty, we could be saving at least £1000-£1500 a month between us, which means in less than a year we could have our deposit for a mortgage plus enough for solicitors fees, surveys etc.

We’re stuck in our lease until 1st August, which means we have 6 months left and as much as we love our little home, we’re not prepared to pay someone else’s mortgage for them and have no outcome at the end. I’d rather be paying off my own mortgage and have a house that I know is going to be my own one day.

Our perfect situation? Well, our landlord would be happy with us using the Rent-To-Buy option to buy the house, because as I said earlier we love our little home but unfortunately, that is not an option for us.

In no way, shape or form am I saying renting is a bad idea. Like I said, it’s shown Nathan and I that we can actually live together without killing each other. In some situations renting is the right decision. But for us, it no longer is.

Do you rent? What’s your opinion? As I mentioned earlier, I know we may not have the same opinion on this matter and that’s fine, however I would love to hear yours!