Average house price of where you live

There is a huge disconnect between the north east and London mind. I've got my folks here this week and the house they have is probably similar size ish to ours. The price difference is astronomical.
It's an absolute joke. Doesn't affect me mind so everyone can fill their boots. It's just something to laugh at from afar.
 


This thread isn't about "average house prices where you live"

If it was, I'd probably post something like "about £45k"

It's about old men who perceive the value of their house as being directly proportionate to the imaginary size of their shrinking penis

Tbf mines like a button mushroom and I’m still in my 40’s :lol:

I’ll have to buy a flash car for further balance ;)
 
made no secret I have two properties other than the one i live in. I've lived in all of them and managed to overpay each time so when I've moved I've released a bit of equity which has financed the next.,., plus used any inheritances I've had

not rocket science. best advice I'd give anyone with a mortgage is to overpay if they can. even if its a tenner a month...

Good luck to you.
Would never rent out another property ever again. I guess you have decent tenants, I do hope so.
We were slightly forced into our decision with HS2 and no compensation, splitting the equity and purchasing the house where we live now, absolutely love it, still needs some work on it and the Garden Project all completed. Bearing in mind it was a jungle when we purchased it.

It was 5 years of pure hell, the stress and cost buckled us, from damage to non payment of rent. We still had to pay the mortgage, little protection to landlords, decent ones that is.
Sold it this year and we were ecstatic. Capital gains not that bad as extension cost off set a high proportion.
Money in bank and fingers crossed Mortgage free next year.

Your advice spot on. Pay as much as you can without forfeiting a fee. Another payment January to max out then complete August as I am dead against paying the settlement fee. One big celebration when we are done as mentioned it nearly killed us and wouldn’t want anyone to go through that stress.

Other advice is the house you are renting try and not have emotion involved in it and treat it simply as the intention, an investment.
Plus paying out for new boilers, new kitchens, plumbers, electricians, carpets, painting and decorating, tenants ringing you in the middle of the night informing high winds have taken a roof tile off, etc etc.

You have just reignited my nightmare mate.
 
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Good luck to you.
Would never rent out another property ever again. I guess you have decent tenants, I do hope so.
We were slightly forced into our decision with HS2 and no compensation, splitting the equity and purchasing the house where we live now, absolutely love it, still needs some work on it and the Garden Project all completed. Bearing in mind it was a jungle when we purchased it.

It was 5 years of pure hell, the stress and cost buckled us, from damage to non payment of rent. We still had to pay the mortgage, little protection to landlords, decent ones that is.
Sold it this year and we were ecstatic. Capital gains not that bad as extension cost off set a high proportion.
Money in bank and fingers crossed Mortgage free next year.

Your advice spot on. Pay as much as you can without forfeiting a fee. Another payment January to max out then complete August as I am dead against paying the settlement fee. One big celebration when we are done as mentioned it nearly killed us and wouldn’t want anyone to go through that stress.

Other advice is the house you are renting try and not have emotion involved in it and treat it simply as the intention, an investment.


You have just reignited my nightmare mate.

Sorry mate - my like was before you quoted me.

Another tip I would add to potential buy to let investors is be wary of renting to family members as they can expect any jobs doing immediately.

My brothers wife text me once saying the bathroom tap wasn’t turning off properly with a slow stream of water. I told her I’d get my plumber to call around and she text back if he could come around in the next 20mins as she had to go out 🤦‍♂️
 
You must have overpaid a canny amount mind. Which is fine you do you, just grates on me when people like yourself pretend you’re not wealthy

Depends on what you define as wealthy.
Comparative to others etc. Not having a go mate but you can have property but little cash liquidity, like any business not always ideal.
I always look at the end game in this.
Just glad I’m not a Rolex, Ferrari type, just a simple Country lad that needs enough to follow his club, go fishing, support the family and have a takeaway and beer / wine when required.
Just not materialistic at all.
 
Interst rates were a lot higher back then remember. I think it might have been a 30 year mortgage at the time with the option to pay 5 or 10% a year.

One thing I always dodged which were huge at the time were endowment mortgages . Always had a repayment mortgage

Sound advice.
I had Endowments from the 80’s dream and like most suffered the consequences. Luckily paying off capital allowed me to escape the bigger picture where they never reached the expected valuation.
Always repayment now.
 
Depends on what you define as wealthy.
Comparative to others etc. Not having a go mate but you can have property but little cash liquidity, like any business not always ideal.
I always look at the end game in this.
Just glad I’m not a Rolex, Ferrari type, just a simple Country lad that needs enough to follow his club, go fishing, support the family and have a takeaway and beer / wine when required.
Just not materialistic at all.
other than holidays Im happy going to my local... holidays has always been an expense but wouldnt give them up.

only last 5 years we have had what you call a decent car.. prior to that we have ran the wifes company car and bought it off the lease company with 80,000 on the clock

My main thing is dont have anything on tick.. if I cant afford it I dont buy it.. I wait until I have the cash. Occasionally credit card might run over without being paid fully off but that isnt very often

its a slope people go down with cars, phones etc.. it soon ramps up to find yourself paying 500+ a month on repayments
 
Sorry mate - my like was before you quoted me.

Another tip I would add to potential buy to let investors is be wary of renting to family members as they can expect any jobs doing immediately.

My brothers wife text me once saying the bathroom tap wasn’t turning off properly with a slow stream of water. I told her I’d get my plumber to call around and she text back if he could come around in the next 20mins as she had to go out 🤦‍♂️

......and add friends as well.
First time rented to a mate and his girlfriend at the time (they spilt up mid term).
Luckily they paid 12 months rent up front. Unluckily it was a shit tip when we took it back on, no severe damage that we endured from Tenants number 3 but we had to do a lot of work.
Example the garden was immaculate when handed over and not when we took it back.
A laugh - he left a car in the drive without an engine in it :)
Soon rolled that up the road and told his ex where it was, not my problem anymore.
Not seen or spoken to him for 6 years 😂
Can we have another how much do you earn thread?

Not enough mate :)
All I want is to retire, not a day goes by without wanting to :)
 
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only wealthy if you can spend it... on paper it looks great.. if you sell your house you need to buy another house... only downsizing will you be able to realise some value

Coming back to this - if you’ve got decent equity in your properties you can easily pull some out if you wish for whatever, otherwise it’s better left in the property than having it sit in the bank accruing little interest.

Advantages of having property down South is that you can more easily liquidise property assets than in the Northeast which can take longer.
 
Depends on what you define as wealthy.
Comparative to others etc. Not having a go mate but you can have property but little cash liquidity, like any business not always ideal.
I always look at the end game in this.
Just glad I’m not a Rolex, Ferrari type, just a simple Country lad that needs enough to follow his club, go fishing, support the family and have a takeaway and beer / wine when required.
Just not materialistic at all.
Having additional property to the one you live in is a huge luxury and puts you firmly in the wealthy category.

You could always just sell the extra house(s) and be hundreds of thousands of pounds richer like.
 
......and add friends as well.
First time rented to a mate and his girlfriend at the time (they spilt up mid term).
Luckily they paid 12 months rent up front. Unluckily it was a shit tip when we took it back on, no severe damage that we endured from Tenants number 3 but we had to do a lot of work.
Example the garden was immaculate when handed over and not when we took it back.
A laugh - he left a car in the drive without an engine in it :)
Soon rolled that up the road and told his ex where it was, not my problem anymore.
Not seen or spoken to him for 6 years 😂


Not enough mate :)
All I want is to retire, not a day goes by without wanting to :)

Yes - had a similar experience with letting a 3 bed house out to a friend of my dads - they were only in for about a year and left with the house in good shape but the only problem was that he had never cut the rear garden grass from the moment he moved in - took me about 3 days to hack the jungle back to what looked like a lawn :lol:
 
other than holidays Im happy going to my local... holidays has always been an expense but wouldnt give them up.

only last 5 years we have had what you call a decent car.. prior to that we have ran the wifes company car and bought it off the lease company with 80,000 on the clock

My main thing is dont have anything on tick.. if I cant afford it I dont buy it.. I wait until I have the cash. Occasionally credit card might run over without being paid fully off but that isnt very often

its a slope people go down with cars, phones etc.. it soon ramps up to find yourself paying 500+ a month on repayments
£500 a month will not get you much, small bmw
 
Having additional property to the one you live in is a huge luxury and puts you firmly in the wealthy category.

You could always just sell the extra house(s) and be hundreds of thousands of pounds richer like.
Only if you own them... Many people who have bought investment properties only cover their costs and many don't even do that but are hoping for appreciation
 
Having additional property to the one you live in is a huge luxury and puts you firmly in the wealthy category.

You could always just sell the extra house(s) and be hundreds of thousands of pounds richer like.

Not necessarily unless of course you have decent equity within it.
Selling it, costs etc, capital gains all need to be taken into consideration and ideally if the house you are selling you have no mortgage then yes it really is a bonus.
Some people (not me) have a huge pension pot without owning a property.

Best advice don’t compare and try and live the best possible life you can without going in to debt.
I don’t want money I just want time.
 
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