Whether you rent at £750 or get someone else to pay half, it's still dead moneyIf ever there was a phrase to single out the financially illiterate it is that one. There is no such thing as dead money, rent is a charge for the utility provided by your accomodation. Interest on a mortgage is a charge for the utility provided by the cash to buy a property. In financial terms these are identical, you pay rent to the landlord for the property or you pay "rent" to the lender for the money to buy property.I am not saying buying is not a good idea, buying instead of renting should be a decision made on a wide variety of reasons, "because rent is dead money" is certainly not one of them.You are Kirsty Allsop and I claim my £10.
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