House Depreciation....

Butcher's Coat said:
Totally agree.
When I first got on the housing ladder back in the early 80's - there was only 2 types of mortgage - an endowment and and a repayment.
The interest rate was no way near what it is these days.
I do remember moving to my present house over 30 year ago in 1989 when the interest rate was 15% around that time.
f***ing nightmare.
Click to expand...

See loads of oldies complaining about how high the interest rates were but the houses were a hell of a lot cheaper
 


I'd say £200k was too much for that place like - could get better areas / houses with 3 bedrooms for cheaper - north of the Tyne especially Leonard
Bradford Pete said:
I'd say £200k was too much for that place like - could get better areas / houses with 3 bedrooms for cheaper - north of the Tyne especially Leonard
Click to expand...

Avoid new buids as well - shit quality
 
Last edited:
Dennis said:
Aye obviously but weren't the wages to house prices a lot more affordable back then?
Click to expand...
Even more reason not to stretch yourself then. If wages to house price ratio was more affordable back then but 15% rates made it tough imagine what a rate hike would do now while people are stretching themselves at 2%

(not saying the OPs boy is in this bracket like but plenty are)
 
Tommasi said:
If they like it, buy it. Houses shouldn't be seen as an investment but somewhere you want to live - a home. I find that way of thinking a bit depressing tbh. It's not like the thing is about to fall off a cliff.
Click to expand...
The day my house fell off a cliff: Mother-of-five describes how her £195,000 dream home slid into oblivion while she was INSIDE with her family and forced them to flee while the walls fell apart
  • Emma Tullett's home plunged 120ft off a cliff when the ground below collapsed
  • She knew the house sat on an eroding soft-clay cliff when buying in August 2018
  • The family didn't get a survey done, which Emma now describes as 'stupid'
  • Emma and her family were evacuated amid safety fears before the collapse
  • She said she 'cried in despair' after being told that the whole house had gone
 
no1 son is thinking about buying with his gf - I've told them to wait and see how market looks in a year as £200k gets an entry level 2 bed flat round here, so a drop in prices may make things more affordable
 
First house I owned, I made a fortune on.

Last one a slight loss over 12 years of owning it, and the one we are in now we bought for quite a bit less than the seller had paid for it.

So in my experience they aren't sure to go up, but the houses were ours, we have lived in them, they have been in decent areas and we could do what we wanted with them and saved a fortune on rent and mortgages worked out less. So no regrets.
 
Not surprised “town houses” are depreciating, they aren’t desirable at all. Terraced housing on multiple floors makes sense in a proper urban environment e.g. the Esplanade, in the suburbs it’s just house builders taking the piss putting a 4 bed house on a tiny footprint.
That being said, it won’t depreciate indefinitely so if it’s bottomed out it could be an ok buy.
 
I live in Hebburn mate, due to keeping an eye on my Mam after my old man passed away. The place is awash with new housing, but they’ve done nothing with that shopping centre. If I was your lad, I’d use that £200k and buy elsewhere, it’s a one horse town with no amenities. For £200k you’d get much more for your money somewhere like Durham for example.
 
CheersMarra84 said:
I live in Hebburn mate, due to keeping an eye on my Mam after my old man passed away. The place is awash with new housing, but they’ve done nothing with that shopping centre. If I was your lad, I’d use that £200k and buy elsewhere, it’s a one horse town with no amenities. For £200k you’d get much more for your money somewhere like Durham for example.
Click to expand...

Dinnar like. Central Durham is canny expensive & the centre is getting worse for shopping as its gradually being turned into a student campus . The more affordable areas on the outskirts like Ushaw Moor aren't the nicest either.

That said I've never been Hebburn, and don't know what it's like but it is on the metro line so do have better public transport access into other places.
 
elder said:
very ordinary layout. the main bathroom is on the floor with only one other bedroom and a lounge... weird.
Click to expand...
similar to friends of ours who have a townhouse but they dont have a study. bottom floor is garage and kitchen/diner, middle is lounge/main bathroom/1 bedroom, top floor 3 beds. i just find it strange having to go upstairs to the lounge and then up/down the stairs all the time to the kitchen.
 

Back
Top