The BBC presenter, Janey Lee Grace and her husband sold their house and invested the proceeds in property. They regret the idea now – despite the fact that the area they invested in was considered up and . Now they have sold the house and renting it.
Some may think this to be strange but obviously not Grace family.
Why do you rent rather than own your own home?
It probably seems bonkers, but the main reason is that we can’t afford to buy a large house in this area. We live in a rambling old grade-II listed home with a huge orchard and six bedrooms for us and the kids Sonny (eight), Buddy (eight), Rocky (four) and Lulu (two). It costs us over £2,000 a month to rent, but if anything goes wrong it’s the landlord’s responsibility, which is a relief. The garden wall fell down last year, for example, and had to be restored brick by brick for £30,000 listed houses are expensive to maintain and we were very grateful we didn’t have to pay. Our rent goes up by about 7pc each year, but house prices locally are beyond our reach at around £1.5m for a similar-sized property. I’m looking forward to prices coming down. My one fear is that we might reach a stage where we can’t afford to rent and we could find we missed the boat for buying our own home. I don’t feel ready to move at the moment, but there’s part of me that says if we can afford a decent house here in the next year then we should buy one.
Read more here:
Fame & Fortune: The FSA is not be trusted, says Radio 2 DJ – Telegraph
Filed under: Housing Market
