Your post and thinking, in some respects, perfectly illustrates what I mean about the culture of ownership and renting; you view is very much through the lens of the UK.For me, not wanting to rent is nothing to do with “culture” or thinking that ‘owning property’ has more ‘status’ than renting. There are good sound reasons why owning property is better than renting even if the renting sector could be reformed and tenancy agreements made more like leases rather than the periodic lets they are.
- Renting property gives less long term housing financial security than if you owned a property (especially outright) as the OP‘s situation illustrates
- Any decorative improvements you make are benefiting the landlord.
- You are lining someone else’s pockets who is earning appreciation on their property at your expense.
- You get no return on years of investment at the end of the occupancy.
- Property is still a good investment and something you can pass on to your descendants)
- If you need to move away temporarily, you can always let the property out so you have something to come back to
- Downsizing as you get older and reducing your overheads in life also makes good economic sense - paying off your mortgage before you retire gives you additional long term financial security.
I would be happy for BHA to build a few accommodation blocks in walking distance to the Amex so loyal members who have moved out of Brighton can have a cheap overnight stay after an evening match
Please note I’m not saying anyone is right or wrong, more than I could have predicted your reply.
I’m not just talking only about individuals though, I am talking about the entire situation of renting from private, to social housing companies, cooperatives, trusts to council housing to the actual renters through to government provision for renters in their retirement and declining health. At the very least there needs to be a discussion and a look at practices and cultures elsewhere.
