RENT or BUY

Hello Friends

My husband and I have to put our home on the market, this year…its a first floor flat. I’m struggling with the stairs now and thinking about the future. To be honest, I’m stressed just thinking about moving and everything that involves.

My husband has a CPN, for bipolar…which is under control and no problems…touch wood He also as physical health problems.

The question is…which I’ve already committed myself to!! is do we buy or rent. This morning, I agreed we would rent.

I’m 57, my husband is 64. We could sell and take a small mortgage and buy a small two bed bungalow.

The CPN is half way through…along with our GP putting in an application for a council property. Which would release equity for us.

What would you do Please, if you were in my situation…have I made the right decision?? HELP!!

Noreen x

Hi Noreen, what is a CPN? I don’t know your financial situation but I would’ve thought that if you could afford to buy, that that would be a better option. Cheryl:-)

Thanks Cheryl. Community Psychiatric Nurse x

Hi Noreen, I rent and thought it was great at first because if I wasn’t happy I could move really easily but now I wish I had somewhere stable that couldn’t be sold from under me so I am waiting on the council list. I just thought those were a couple of things for you to think about hun. Hope you find somewhere lovely either way Krissy xx

Thanks Krissy, my heads buzzing…more than usual lol

Its my husbands idea to go for a council property…I think it will be more stable then private renting, if we don’t buy.

I just like the freedom, to do what I want to a home. Hey ho

After years of owning my own home (well, having a mortgage) I moved into a council property 3 years ago. I would not have moved into private rented because of the lack of security but social housing offers a different sort of tenancy. At first I was not at all sure how I felt about it but I like the lack of responsibility and I never feel that it isn’t my home.

My bungalow offers such perfect accommodation for my disabilities that I don’t have any regrets. However how easy is it to get a council property in your area? I had medical priority and didn’t have to wait long but some folk on these boards have waited months.

Jane

Thanks Jane.

My husband’s CPN, is doing a joint application…for my problems and also my husbands. he did say we would go to the top of the list.

Can you make changes to kitchen’s etc?

Noreen

Mmm its a big question. I always used to think it was better to buy, but one of my daughters has 3 children (one of them autistic so she is his full time carer) and a partner who does not have a trade as sorts and was in and out of work. So I new that when he was not in work there rent would be paid for. Knowing this gave me some releif even when at times I had to pay the odd month of rent. So my view is that it is down to individual needs and circulstance’s. Doing a Pro and Con list would help. Hope you find the answers you need Noreen xx

Thats a good idea ^

Thanks Medion.

Believe me…all your views have been really helpful

it is a bit of a dilema for sure. if it was me i would try to buy. the way i understand it if you have over a certain amount in savings you dont get rent rebate? if that would be the case i would rather be paying a small mortgage than paying rent.

I have rented for years now because I like knowing that when the property needs repairs it isn’t my responsibility and I don’t have to find the funds to finance them. It always used to worry me that I wouldn’t be able to afford a new roof for instance. I rent privately at the moment but if my circumstances changed and I needed ground floor accommodation I would happily apply for social housing. Tracey xx

Thanks Mick. It’s not about rent rebate for me but I appreciate your comments :slight_smile: Thanks Tracey. It must be a relief not to have to worry about repairs etc…definitely something to consider :slight_smile:

Hiya

It is a individuals circumstances that need to be weighed up. I went through this 2 years ago. In fact I moved across the country to a location near my family and also the wirral is a lot flatter than Sheffield - I can get out now with help.

I looked at my age, health, quality of life, monthly money coming in, money going out - cash flow. It was sensible and financially bettter for me to buy with my wife - even though it is not a bungalow but you can adapt a house, stair lifs etc., as you know. If a bungalow was available I would have jumped at it - well more like a stumble really!

Always best to do a practical For and Against list.

Marty

Thanks Marty…good advice. I feel like your all saying things to me, that I’ve been thinking in my buzzing head. Now I’m starting to think calmly about it. Thank you so much, for everyone’s advice :slight_smile: Of course!! If there’s a fairy on the forum, with a magic wand, happy to magic me and my husband to a newly adapted bugalow!! I have a pair of RED SHOES :wink:

A fairy would be great Blossom!

but a lottery winner who would like to donate a newly adapted bungalow to you would also be very welcome!

Teresa.x

Oh, what I could do with a magic wand…if only!!

You could put those red shoes on Noreen and buy a lottery ticket, you never know xx

I hope you have better luck than we did as when we were on the council list we were told that even though I had MS and my MS nurse had written a letter they said that my illness would not be taken into account.

Oh dear Blossom, that sounds really mean how I have written that last comment. I was just saying what happened to us, but didn’t mean it to sound nasty.

We are similar ages i’m 55 and husband 65 next week.

xx

Don’t worry about it jaycie…I’m not thinking your nasty. I am one of those people, that make a decision and send it out. If it’s meant to happen, it will. Sounds like you need a magical fairy too :slight_smile: What size shoe do you take? You can borrow mine :wink: