Paying someone's mortgage by renting

[maxilaura]

I don't hate the landlord - ha ha. I just wish I was in the position to be paying off my own mortgage rather than his

My parents renting all my life growing up, and I always wished that they would buy a place, pay it off, and then have somewhere to retire without worries. As it is, my dad is now 73, and has to worry about getting rent money every month. My mom has at least finally bought a place of her own, but she left it so late in life, that now that she is also retired, she is paying interest only as it is the cheapest she can afford.

I always said to myself that as soon as I start to work, I would start to save for a mortgage - AND THEN LIFE GOT IN THE WAY OF THOSE PLANS.

Now I'm in my mid 30s, and I'm still renting. Ho hum.

[Brambles]

I look at it this way. As a tenant you can leave at the end of your lease and that's that, you can live in a property you might otherwise not be able to afford to buy, you can choose a property to fit your current lifestyle, you are not responsible for upkeep or repairs, the landlord takes the hit when the housing market falters, he also takes the hit when interest rates go up. If you look on the bright side, paying all or some of the mortgage isn't so bad.

[maxilaura]

Yes there is a flip side, so instead of being peeved about it, am going to try and change my attitude towards it and think of the benefits like being able to move out whenever I want and not be tied down.

Thanks guys and gals for helping me see the upside.

[diamond lil]

A mortgage isnt a status symbol, its DEBT. You havent got debt - the landlord has!

[the-gnole]

On the bright side I won't be paying rent or a mortgage after the end of this month, 27 years of paying mortgages is finally over I'm going to be a very happy bunny And of course it will be saving me almost £1000 a year as well, more prepping money

[maxilaura]

thats excellent, well done Gnole

[the-gnole]

thats excellent, well done Gnole

It's going to be a great weight of my shoulders, I will now have a home of my own, which no one can take away whatever happens, one of the best preps ever

But it hasn't come easy, there have been times when it has not been great, but heyho, it will soon be history.

[jean405]

On the bright side I won't be paying rent or a mortgage after the end of this month, 27 years of paying mortgages is finally over I'm going to be a very happy bunny And of course it will be saving me almost £1000 a year as well, more prepping money

Well done Gnole!!!

[pseudonym]

thats excellent, well done Gnole

It's going to be a great weight of my shoulders, I will now have a home of my own, which no one can take away whatever happens, one of the best preps ever

It is a great feeling when you get the deeds to your house and the Bank Manager looks upset when you pay that final payment then close the account there and then

Unfortunately the Government can still take your house if they want too - compulsory purchase

http://en.wikipedia.org/wiki/Eminent_domain

[the-gnole]

Unfortunately the Government can still take your house if they want too - compulsory purchase

http://en.wikipedia.org/wiki/Eminent_domain

Thanks for breaking the dream, fortunately a minimal risk around the location I have