renting vs. mother-in-law

Another “rent is dead money” anecdote. The mother-in-law is angry because we’ve renewed a lease. I tried to walk her through the numbers: “Look here at this house for 350,000. If prices drop only 9% over the next twelve months it will be 31,500 cheaper. That’s a savings of 19,800 after rent is deducted for the year!”

MIL is right.

Property only goes up.

Dont know where you get 9% drop from

9% is a very conservative figure I gave her as an illustration. She has a hard time believing prices will drop any further. Let’s not go there.

Just tell her you want her future grand-kids to grow up as renters.

That should stop her ever talking to you again.

My parents have come to the conclusion that all those years I flatly refused to consider buying a house somewhere I could afford like Portlaois, I was right.

They are now coming to the conclusion that if I have do things differently to them because of circumstance, so be it.

Ridicule her knowledge of financial matters at every opportunity, that should soon put a stop to it. Not sure what the side-effects might be though :slight_smile:


she will never never understand so just say yeah yeah and ignore her great advice

My mum was constantly ‘when are you going to buy?’ to which I’d reply ‘when prices are affordable’…that kept her at bay…until next time. When my cousin bought recently I reacted as if I’d been told she had a terminal illness…‘that’s terrible, I hope she can manage, I hope her job is safe etc. etc.’. I think my mum now knows not to ask!

I can only feel sorry for you as I am in the same boat with my own mother.

When we sold up for 150k less than we bought for ( after stamp etc ) she couldn’t believe we could be so stupid !

She simply cannot get her head around the fact we could cut lose on so much money.

Every time I tell her it was a good decision and house prices are dropping, ( we could probably buy ours for 100k less now than we sold it ) she says " I hope it works out for you " sarcastically.

You have to come to the realisation that some folk are just idiots and use their ignorance and half understanding as a gauge of public sentiment and reason we are in this mess in the first place.

your completely correct by the way - she’s a lucky woman he son married someone who is not a complete tool ! :stuck_out_tongue:

I still get that from the mother. Pisses me off if I’m after a long day at work but usually its water off a ducks back. As for the MIL, just tell her the only bad thing about renting is that you can’t lay your own patio but that would change when you buy. :nin

I would have gone with - this house costs E350,000.
We could get an interest rate of 4%, that’s E14,000 in we’d have to pay the bank just for renting their money from them.
There is less dead money in renting the house direct.

Am I the only one with a mother who has told me not to buy ?

I thought this thread was going to be about prostitutes!!!

False advertising buddy!

Absolutely spot-on advice - just get your head round the fact that most people in Ireland are (a) financially illiterate and (b) sheep. You will NEVER get through to people like your MIL, they are more concerned with fitting in with what the neighbours are doing than being rational.

So you are saying that you should allow this person to continually question you regarding your accomadation arrangements, keep your head down and take it. I can’t help but think this is terrible advice. My advice previously, while delivered in a facetious manner is still the preferred course of action, ask her to explain why buying is the best course of action. If she doesn’t see your side of things then take things up a notch and use her tactic of continuously peppering her about her lack of knowledge of financial matters. Little jibes here, pokes there, etc. Sometimes you may need to give somebody the upper hand just to use it later but in most cases you shouldn’t take shit and have your motives/knowledge questioned. Those are my thoughts :slight_smile:

Try explaining it to her this way:
Say you were planning to bake a batch of cakes next week, and you needed to buy eggs.
If you knew eggs were going to be on special offer next week - would you buy the eggs today just because it made you feel organised…
Or would you wait till next week to buy the eggs cheaper? Which would make more sense?

Yes, but between now and then you’d have to buy a cake to eat :slight_smile:

Asked about this yesterday on a different thread and was helpfully directed to the following link … ermessageb

Strangely my parents in law are (thankfully) very concerned about mutterings of house buying in our home.