Re:Basic income plan clearly rejected by Swiss voters
by simonswords82 on Sunday June 05, 2016 @02:47PM
(#11842415)
I own and rent.
I own a house worth about £300k with a mortgage of £140k. The mortgage repayments are £500 per month.
I wanted to upgrade my house to somewhere larger in a nicer area but didn't want to wipe out my savings to raise a deposit. So I made the decision to rent somewhere instead.
It feels like the best of both worlds. I get all the upside of a big house without any liability for something going wrong (boilers, high end kitchen equipment, etc). I've rented the house I own to some tenants and the profit from the rent I make goes towards my rented house.
Best case scenario - one day I'll own my old house outright and continue to rent. I might even buy another house to rent out at some point. Worst case - the market goes tits up I stop renting and return to the house I own where my mortgage is very affordable.
I own a house worth about £300k with a mortgage of £140k. The mortgage repayments are £500 per month.
I wanted to upgrade my house to somewhere larger in a nicer area but didn't want to wipe out my savings to raise a deposit. So I made the decision to rent somewhere instead.
It feels like the best of both worlds. I get all the upside of a big house without any liability for something going wrong (boilers, high end kitchen equipment, etc). I've rented the house I own to some tenants and the profit from the rent I make goes towards my rented house.
Best case scenario - one day I'll own my old house outright and continue to rent. I might even buy another house to rent out at some point. Worst case - the market goes tits up I stop renting and return to the house I own where my mortgage is very affordable.