Housing market Lemmings



Epping said:
Oh I wouldnt expect to get that much for my flat .. anyway daughter has her eye on it at mates rates and no point selling as what do you do with the cash?
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Well exactly. Mortgage to zero first then get on some student property in red brick cities is my game plan.

Pile up the annuities
 
CatRyan said:
The second time was a property I bought to flip down in Hastings. Didn't see the property and the residents until after I bought it and was distinctly uncomfortable about the whole thing the whole time and let an agent handle it but tried to improve their conditions and not evict anyone.
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This is on a par with @Ben Gardner here mind. Classic thread for those who remember.
Epping said:
Oh I wouldnt expect to get that much for my flat .. anyway daughter has her eye on it at mates rates and no point selling as what do you do with the cash?
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Also this :lol:
 
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banburysafc said:
This is on a par with @Ben Gardner here mind. Classic thread for those who remember.

Also this :lol:
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not sure how the Ben Gardner thread ended up but mine had a very happpy ending, the money I got from the flip meant I could buy my own flat and get out of a very abusive relationship and now I have my own 3 bedroom flat in zone 2 with a big garden and a great pub up the road and a 25 minute cycle to work in the City

if I had not done the flip my ex would have found some way to rinse through even more of my money and I'd have used up money renting and never been able to get on the property ladder properly
 
CatRyan said:
not sure how the Ben Gardner thread ended up but mine had a very happpy ending, the money I got from the flip meant I could buy my own flat and get out of a very abusive relationship and now I have my own 3 bedroom flat in zone 2 with a big garden and a great pub up the road and a 25 minute cycle to work in the City

if I had not done the flip my ex would have found some way to rinse through even more of my money and I'd have used up money renting and never been able to get on the property ladder properly
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Well now don't I look very daft.
 
Rustie Trombone said:
There's a house near us that needs completely redoing. Windows, heating system, new kitchen and bathroom. It came on the market yesterday and we were going to have a look at it so we called the agent this morning. They've already had two offers and the viewings don't start until Monday.

I think we'll just stay where we are for now


Was it you who bought on Lambton Estate? Beautiful properties they are

Looks like a decent investment in the current market
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Was me who bought there 👍🏻
 
Rustie Trombone said:
Cracking architecture and looking like a great investment 👍
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it’s not a great investment at this point. Prices have already dropped and they are struggled to sell phase one never mind stage two. However, they look lovely houses and look like a high spec finish. Just seem to be about 10/15% over valued at this point in time.
janey said:
It is cracking, I love it, as a development, it took a bit of stick on here when it was first being built, cost etc, but I’m as happy as a pig in poo living here. One of best things I’ve done. 👍🏻
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and this is all that matters. That’s fantastic to hear. A home isn’t an investment and over time I think they will be worth their value. Really pleased you love it so much.
 
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safccfas said:
it’s not a great investment at this point. Prices have already dropped and they are struggled to sell phase one never mind stage two. However, they look lovely houses and look like a high spec finish. Just seem to be about 10/15% over valued at this point in time.


and this is all that matters. That’s fantastic to hear. A home isn’t an investment and over time I think they will be worth their value. Really pleased you love it so much.
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Thank you, I said all along it was never an investment for me, just a lovely home, because I’ll live here until I pop me clogs so wasn’t looking for a return.
 
Part of the problem is the expectations of people in the UK when it comes to the property market.

Back in the 80s most people were happy to slowly buy their own property, paid off before retirement and something to hand down in inheritance. That’s already a pretty good deal when you think of it. As long as your house price keeps up with inflation and offsets mortgage interest over its lifetime you are effectively living for free.

Now the idea of a house actually costing money, you know actually paying to live somewhere, would be seen as ludicrous. If people can’t pay an interest rate at rock bottom and see a massive asset appreciation in a few years they aren’t happy.

We have gone from expecting to live for free to making a profit out of something that is essentially a norm of living - accommodation
 

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