house prices
#41
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I lied, one more point, do not over stretch yourself. By that I don't mean just the morgage, by all means try and buy the house you want but keep some spare capacity back incase for example rates go higher.
#42
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my ol dman bought our house in 78 for £12k
it's worth £330k now, but we live there so what's the point in selling it?
i've just recently bought a house on our road for £280k but i put down a £100k deposit and only pay £1100 a month on the mortgage
i could easily be paying that much on renting a 3 bed with front (2 cars worth) and rear (100 foot) gardens plus a double garage on the end
the last house that went up for sale on our street also fetched £280k but it was a hovel
now our neighbours have put their hosue up for sale and it's on for £340k AND it's bigger than ours, i cant see the slow down in the amrket from where i'm sitting because i put my offer in in august and didn't get it accepted until december, and it was for the full £280k i put in so it didn't go up or down for the whole time
i think a lot of people are forgettnig that you can easily sell your house for a profit, but unless you are going to move to a poorer area, you'll still have to spend that sort of money or even more on buying another property, so stay where you are and don't give a damn
that said, i'm still reminding my old man that he should have kept the double fronted 4 bedroom house he had in a leafy bit of acton way back in 74 that he bought for £11k, but the lure of someone handing over £13k 2 weeks later was too much for the old fart
it's worth well inot the 7 figures now
it's worth £330k now, but we live there so what's the point in selling it?
i've just recently bought a house on our road for £280k but i put down a £100k deposit and only pay £1100 a month on the mortgage
i could easily be paying that much on renting a 3 bed with front (2 cars worth) and rear (100 foot) gardens plus a double garage on the end
the last house that went up for sale on our street also fetched £280k but it was a hovel
now our neighbours have put their hosue up for sale and it's on for £340k AND it's bigger than ours, i cant see the slow down in the amrket from where i'm sitting because i put my offer in in august and didn't get it accepted until december, and it was for the full £280k i put in so it didn't go up or down for the whole time
i think a lot of people are forgettnig that you can easily sell your house for a profit, but unless you are going to move to a poorer area, you'll still have to spend that sort of money or even more on buying another property, so stay where you are and don't give a damn
that said, i'm still reminding my old man that he should have kept the double fronted 4 bedroom house he had in a leafy bit of acton way back in 74 that he bought for £11k, but the lure of someone handing over £13k 2 weeks later was too much for the old fart
it's worth well inot the 7 figures now
#43
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Originally Posted by dojj
i think a lot of people are forgettnig that you can easily sell your house for a profit, but unless you are going to move to a poorer area, you'll still have to spend that sort of money or even more on buying another property, so stay where you are and don't give a damn
#44
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I am looking at buying a place towards the end of the summer probably an apartment or house in the country to rent out, it is really just to get on the property ladder,
Mike
Mike
#45
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Originally Posted by dojj
i think a lot of people are forgettnig that you can easily sell your house for a profit, but unless you are going to move to a poorer area, you'll still have to spend that sort of money or even more on buying another property, so stay where you are and don't give a damn
Well, my parents bought a bigger house every 10 years or so. When i left the house, they sold there house and bought a smaller house. They made money in the process and now live for free (almost)
See it as a long term investment i say
#46
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me and the missus bought our place last year for 120k, seen some advertised for 135k in our street and we're constantly being dogged to sell by the local estate agents so hopefully we bought well
Its got scope to make it into a 3 bedroom place as well, the only bad thing is it hasn't got a garage or even anywhere to park apart from the road, but we only just managed to scrape enough to get his place so another 20k wasn't happening
I'm only paying £70 more a month than my rent was for a 1 bed flat...
Its got scope to make it into a 3 bedroom place as well, the only bad thing is it hasn't got a garage or even anywhere to park apart from the road, but we only just managed to scrape enough to get his place so another 20k wasn't happening
I'm only paying £70 more a month than my rent was for a 1 bed flat...
#47
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Originally Posted by MattRS1600i
Originally Posted by dojj
i think a lot of people are forgettnig that you can easily sell your house for a profit, but unless you are going to move to a poorer area, you'll still have to spend that sort of money or even more on buying another property, so stay where you are and don't give a damn
#48
............
Originally Posted by jasonp
Originally Posted by MattRS1600i
Originally Posted by dojj
i think a lot of people are forgettnig that you can easily sell your house for a profit, but unless you are going to move to a poorer area, you'll still have to spend that sort of money or even more on buying another property, so stay where you are and don't give a damn
It's still a very very good way to invest your cash......
#49
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but capital gains tax is a fooker on a second property
imagine if you buy a house, scrimp and save every last penny to pay fht emortgage, then, 10 years down the line think you are going ot make a tidy profit only for the tax man to grab a huge chunk of it, aren't you going to be pissed?
it's ok to buy a property, and then you save up a bit and move out to buy a bigger house etc etc, but as soon as you start buying that seond "bankable" property" it's going to ome back and hit you n the goolies unless you flog it to someone in your family, like your kids
that way you can't get done for inheritance tax (anything over £250k) and you dfon't fall into the trap of giving it away as a tax break (because you can only give away a certain amount each year to your kids or something)
thats why i bought my house from my old man and gave him a load of wonga for it, he put the wonga into an account and i went looking for a property
when i found one, he bought house BACK off of me and i used the money as a deposit for the new house, it's easier to buy a house if you are a homeowner because everyone knows you are going to be stuck trying to get onto the property ladder as a first time buyer if you can't get the mortgage
imagine if you buy a house, scrimp and save every last penny to pay fht emortgage, then, 10 years down the line think you are going ot make a tidy profit only for the tax man to grab a huge chunk of it, aren't you going to be pissed?
it's ok to buy a property, and then you save up a bit and move out to buy a bigger house etc etc, but as soon as you start buying that seond "bankable" property" it's going to ome back and hit you n the goolies unless you flog it to someone in your family, like your kids
that way you can't get done for inheritance tax (anything over £250k) and you dfon't fall into the trap of giving it away as a tax break (because you can only give away a certain amount each year to your kids or something)
thats why i bought my house from my old man and gave him a load of wonga for it, he put the wonga into an account and i went looking for a property
when i found one, he bought house BACK off of me and i used the money as a deposit for the new house, it's easier to buy a house if you are a homeowner because everyone knows you are going to be stuck trying to get onto the property ladder as a first time buyer if you can't get the mortgage
#50
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Originally Posted by Kev.H
i think at the mo its picking up not prices but stuff is selling again ! Price it right dont take the piss and stuff will sell
looked at a property last week didnt like it but it sold in 2 days girlfs auntie just sold hers in a week
looked at a property last week didnt like it but it sold in 2 days girlfs auntie just sold hers in a week
cant get fooking shut of mine
well,..its been for sale a month now,.....
and is cheaper than most of same standard,,..
#51
Hi Paul...
Fixed rate can be very dangerous but can also work well in certain circumstances. Just remember if a bank is offering you a good fixed rate deal it is because they think rates are going down
Cheers Malc
Fixed rate can be very dangerous but can also work well in certain circumstances. Just remember if a bank is offering you a good fixed rate deal it is because they think rates are going down
Cheers Malc
#52
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a 3 bedroom house where i live only costs about(ex council)50 to 70k
and the people that bought em prob payed bout 20k for em about 5 or 6 years ago ur house prices are insane
and the people that bought em prob payed bout 20k for em about 5 or 6 years ago ur house prices are insane
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