# to buy or not to buy



## blues (May 15, 2009)

m again when moving over is it best to rent or buy :juggle::juggle:


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## SteveHall (Oct 17, 2008)

Rent ............


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## jojo (Sep 20, 2007)

SteveHall said:


> Rent ............


.............. without doubt!!


Jo xx


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## Tallulah (Feb 16, 2009)

Depends on your life choices!


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## SunnySpain (Jul 30, 2008)

Oooooh, choices choices......:juggle:


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## scharlack (Nov 21, 2008)

blues said:


> m again when moving over is it best to rent or buy :juggle::juggle:


I say rent.


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## mrypg9 (Apr 26, 2008)

blues said:


> m again when moving over is it best to rent or buy :juggle::juggle:


 Could well be that, from an investment angle and if you have cash with which to buy, it would be best to rent now and ltake the time to look around for a heavily discounted property.
People who know about these things say that the market hasn't bottomed out yet.


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## jojo (Sep 20, 2007)

it also depends if you need a mortgage, cos they're not easy to obtain in Spain anymore, even if you're in employment

Jo xx


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## mrypg9 (Apr 26, 2008)

jojo said:


> it also depends if you need a mortgage, cos they're not easy to obtain in Spain anymore, even if you're in employment
> 
> Jo xx


That's why I said 'if you have cash' - I meant the real stuff
Good hjob too that mortgages are harder to come by. When I bought my first house years ago the rule was three times your joint income lent and a twenty-five percent deposit.
I read that until the bubble burst people were able to get 140% mortgages....many of these loans were to people who would be classified as 'sub-prime'. People were asked merely to state their incomes -no proof or verification of any kind required.
As I said in another post, the people who made commission money from doling out these crazy loans are now raking in money with these 'debt consolidation' and 'insolvency solution' schemes.
While the poor sods who were foolishly taken in are in deep do-do...


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## jojo (Sep 20, 2007)

mrypg9 said:


> That's why I said 'if you have cash' - I meant the real stuff
> Good hjob too that mortgages are harder to come by. When I bought my first house years ago the rule was three times your joint income lent and a twenty-five percent deposit.
> I read that until the bubble burst people were able to get 140% mortgages....many of these loans were to people who would be classified as 'sub-prime'. People were asked merely to state their incomes -no proof or verification of any kind required.
> As I said in another post, the people who made commission money from doling out these crazy loans are now raking in money with these 'debt consolidation' and 'insolvency solution' schemes.
> While the poor sods who were foolishly taken in are in deep do-do...


The bubble had to burst eventually didnt it! Its left an almighty mess, but I guess with time it'll sort itself out. When I first got my mortgage (a few years ago now), we had to have a minimum of 10% of the house value, we could only have 3 times our "proven" joint income and we had to have had an account with the building society for a minumum of six months. We made an appointment to see the manager, wore our sunday best and grovelled!!! That was for a house in the UK as first time buyers... havent things changed!! 

Jo xxx


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## mrypg9 (Apr 26, 2008)

jojo said:


> The bubble had to burst eventually didnt it! Its left an almighty mess, but I guess with time it'll sort itself out. When I first got my mortgage (a few years ago now), we had to have a minimum of 10% of the house value, we could only have 3 times our "proven" joint income and we had to have had an account with the building society for a minumum of six months. We made an appointment to see the manager, wore our sunday best and grovelled!!! That was for a house in the UK as first time buyers... havent things changed!!
> 
> Jo xxx


Actually, I made a mistake - the first house I bought and lived in for over twenty years I paid cash for! £5000!!!!! It was an old cottage, detached and rambling (a bit like me) and of course it needed a fair old bit of restoration (also like me).
When my son saw it he told everyone 'Mum's flipped, she's bought a ruin'.
We did a lot of modernisation work, some of it ourselves, and sold it in 2006, just before the crash.
I won't say what for....


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## Guest (Jun 21, 2009)

*To buy or not to buy....*

I'd say rent... you can then be footloose and fancy free! 

There are some excellent rental deals on the market now.


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