Renting vs Buying a House - Can Someone Explain The Benefits/Pros and Cons of Each?

[GnauzBookOfRhymes]

1. London
2. Yes. I could live on the outskirts of London, but I don't wanna be too far from feeling comfortable. I need to be in a big city and London is my home and that's where I grew up. I think I'd go insane if I lived in the middle of nowhere but had a big house with no one around. I need to be able to walk outside my house and see people.
3. I'm a new graduate, so not much at the moment (<£30K with the prospect of £45K-£70K on average after a few years) but I plan on doing freelancing with the same trade on the side as well as diversifying my investments within the next 5-8 years once I have learned enough about investing in various markets. I am currently learning about housing property, London Stock Exchange and AIM (London Stock Exchange for small businesses) in order to get a leg up in my financial situation.
4. I've got no idea what a 'W2' as I'm British. But, from the way you worded it STEM jobs in the UK are extremely in high demand especially in post March 2019/post-Brexit when these stupid old racist white c*nts send the good hard working foreigners back to their country which means big business is going to certainly be secured which is something our current Prime Minister is sorting out now with the European Union [Brexit may actually not happen since a new referendum is shaping up ]. British companies with a stronghold in the UK will snap up the void left in the market place which ideally will make the market thrive for finding/creating work for people like myself ready to move up in this world. So to answer your question, employment seems to be steady for now and the foreseeable long term future for what I do in IT.
5. I definitely want kids... one day... but only once I'm secured. I'm not looking for a serious relationship now to potentially mess my future up. I just wanna get myself in a good space spiritually and financially first before settling down and fukking around literally.

i dont know shyt about london real estate. sorry breh.

generally speaking i think real estate is a good investment because assuming you're not in a bombed out part of the city, you have an asset that will appreciate and can be a source of cash if necessary. if you live in your rental property it's a good way to take care of what is typically the largest ongoing cost you'll incur (housing).

in the U.S. there are all sorts of tax benefits to owning a home/rental property. it's a great way to lower overall tax burden.

 

[The Fukin Prophecy]

You can pay someone else's mortgage or you can pay your own.

Listen to this poster...

Renting should only be a last resort...

If you're young, have the credit and down payment money, the best thing to do is buy a multiple family live in one apartment and rent out the rest...

The rent money will pay off your mortgage and put extra cash in our wallet every month...If you have a decent job, don't even have to be 6 figures, 70k a year you won't ever have to worry about anything..When you're comfortable and see an opportunity, buy a house and turn your apartment into more rent income...

That's how you make your money work for you...