chiefdave
Well-Known Member
I'm aware of that but that wasn't my motivation for buying a house hence why I queried the assertion that people only buy property to 'better themselves'.The property will ultimately increase in value and as the capital is paid down the property value in real terms becomes higher
In any case how does the property value increasing actually benefit me? I can't realise that value without selling it and then I have nowhere to live, I've got no kids so leaving an inheritance is a non issue.
In other countries I've lived the differential between renting and purchasing has been much smaller which gives you more flexibility. For example if I need to move for my job its a lot harder when it involves selling and buying rather than just renting yet we're regularly told people should just move to where the jobs are.