tek-monkey
wanna see my snake?
Wonder what is wrong with this place?
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How do people afford houses in this day and age?
- Thread starter db
- Start date
cookie_monster
Well-Known Forumite
hmmm, may be worth checking out planning permissions and a good survey....have emailed it to me brother though!tek-monkey said:
hes still having serious issues with his proposed purchase on castle street
x
tek-monkey
wanna see my snake?
The one 2 doors away was going for £145k last year, was done up very nice though.
cookie_monster
Well-Known Forumite
thats why i wonder if its something that isnt immediately obvious- it seems a very very low asking price.
just to give you a bit of hope db.....you still have 7 years to go before you become an average homeowner
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just to give you a bit of hope db.....you still have 7 years to go before you become an average homeowner
x
toooldtorock
Well-Known Forumite
As a slightly more 'senior' in age forumite, I face the problem of my older kids - both 21+ who at the moment appear to have no hope of buying their own. I have withdrawn all oppostion to renting in the hope that I may look forward to some peace! A 23 year old, 6ft+, lose head prop forward baffooning around the house can make me 'brittle' to say the least!
tek-monkey
wanna see my snake?
I rented til I was 33, and only got a place because I got government assistance. With prices as they are I'd stick with renting, if young anyway, at least you can sod of at a months notice should a job come up.
Tinkerbell
Well-Known Forumite
I worry about our kids getting on the property ladder - whilst they are a little too young at the moment - things have just been getting worse. I have started to consider whether my hubbie and I could afford to purchase a little flat - just as a nest egg for the kids future.
My house (which isnt a palace) will be paid off in about 5 to 6 years - and with the state of pensions etc that will have to be our retirement plan - which should have gone to the kids !
My nephew has just managed to purchase a flat in Rugeley - which was in a right state and has had to spend a lot to do it up. I spend a lot of time drumming into my kids - do well at school - get a job - then you can afford a house ! dont think the same can be said now !
ITS ALL RUBBISH
My house (which isnt a palace) will be paid off in about 5 to 6 years - and with the state of pensions etc that will have to be our retirement plan - which should have gone to the kids !
My nephew has just managed to purchase a flat in Rugeley - which was in a right state and has had to spend a lot to do it up. I spend a lot of time drumming into my kids - do well at school - get a job - then you can afford a house ! dont think the same can be said now !
ITS ALL RUBBISH
Em L
Mental Floss
After 4 years of renting in Stafford my ex decided he wanted to buy a house - the house looked fantastic but once in there we realised that so much of the place was held together by "No More Nails" - seriously, i'm not kidding. So much had to be done to fix everything, then we realised the conservatory hadnt been sealed properly and damp had leaked underneath all the laminate in the front room - so we pulled this up and found the underneath was revolting, we had to buy some self levelling compound for the floor but in one corner it was just like sand, no actual substance to the floor! It was almost a relief when we split and I ended up renting - his boiler gave up the ghost a month later and when removing a ceiling rose, half the ceiling fell down on him!
Rather a long winded way of saying "stick to renting" but there you go
Rather a long winded way of saying "stick to renting" but there you go
tek-monkey
wanna see my snake?
I fitted a new extractor fan in the bathroom last week, upon removing the old one it turned out a 6" section of the ceiling was actually toilet roll with a thin layer of plaster over it!
shoes
Well-Known Forumite
How can people be so shit at DIY and still continue to ruin the place where you live? Fair enough if you are shit at it, my old man is terrible, but he just pays someone else to get the work done professionally.
Saying that, in today's day and age, what with google and gramaisc both accessible from your living room, I can't see there being any excuse for shoddy work like that. In the instance you can't afford the 'proper shiz' you can usually find no end of clever alternatives on the internet which are just as effective.
Back on topic though, half the reason I work so bloody hard is due to the complete lack of help available from parents, grand parents, other relatives etc. so I'm going to have to tackle the old house buying conundrum myself - and it's basically cash that decides whether you can afford a house or not. Either that or I find someone rich and stupid to marry - no ordinary person would want anything to do with me
Saying that, in today's day and age, what with google and gramaisc both accessible from your living room, I can't see there being any excuse for shoddy work like that. In the instance you can't afford the 'proper shiz' you can usually find no end of clever alternatives on the internet which are just as effective.
Back on topic though, half the reason I work so bloody hard is due to the complete lack of help available from parents, grand parents, other relatives etc. so I'm going to have to tackle the old house buying conundrum myself - and it's basically cash that decides whether you can afford a house or not. Either that or I find someone rich and stupid to marry - no ordinary person would want anything to do with me
tek-monkey
wanna see my snake?
To be fair, none should really be expected to help. If they've brought you up without you being a tosser, their work is done. I'm a firm believer in making your own way, even though I did use a Gov handout* to get mineshoes said:Back on topic though, half the reason I work so bloody hard is due to the complete lack of help available from parents, grand parents, other relatives etc. so I'm going to have to tackle the old house buying conundrum myself - and it's basically cash that decides whether you can afford a house or not. Either that or I find someone rich and stupid to marry - no ordinary person would want anything to do with me
* I justify this to myself because I've paid tax for more than half my life now, and got shafted when unemployed for daring to be a single white male without dependants. So **** 'em!
shoes
Well-Known Forumite
Ah i'm not expecting anyone to help me, in fact it frustrates me when you see the most undeserving being given everything on a plate! I can imagine that buying a house off your own back is an incredibly satisfying experience - one which I am looking forward to. I don't think there is anything wrong with taking advantage of schemes such as the one you did, you are using it to be economically active and effectively freeing up a rented property for someone else. If you didn't use that money then someone else would have, and if no one else did the it would have been reallocated in bonuses to some undeserving MP!
EDIT: If such a scheme comes up again soon and I am eligible I shall be all over it like andreas on a gramatikal erra!
EDIT: If such a scheme comes up again soon and I am eligible I shall be all over it like andreas on a gramatikal erra!
My Name is URL
Well-Known Forumite
I had no parental help from my side or the better halfs when we purchased.
Luckily we were allowed a 100% mortgage as graduates else we would never have got on the "ladder".
Since we got the mortgage we have hammered the overpayments and should have 20% equity by the time our 5 year fix ends.
Was in Halifax today paying some cash in and the woman says "I notice you don't have a mortgage with us, do you have one elsewhere"... "yes" I say "and its on a fixed rate for another year"
"well when you get to six months before its up, come and see us and we can beat your old deal"
I tell her "well we did come and see you when we were looking to buy initially but you would only lend us 2/3 of what everyone else would lend us"
The confused look came out then so I had to walk away.
Luckily we were allowed a 100% mortgage as graduates else we would never have got on the "ladder".
Since we got the mortgage we have hammered the overpayments and should have 20% equity by the time our 5 year fix ends.
Was in Halifax today paying some cash in and the woman says "I notice you don't have a mortgage with us, do you have one elsewhere"... "yes" I say "and its on a fixed rate for another year"
"well when you get to six months before its up, come and see us and we can beat your old deal"
I tell her "well we did come and see you when we were looking to buy initially but you would only lend us 2/3 of what everyone else would lend us"
The confused look came out then so I had to walk away.
John Marwood
I ♥ cryptic crosswords
There are several acute problems in the UK housing market :
1 Not enough properties to provide for ( the now increasing expectation of people who want to live alone ) individuals
2 The high mortgage rate in relation to the bank base rate
3 The price of 'small family homes' in relation to a 'small families decreasing income'
4 The stagnation in sales throughout the property scale due to the high cost of a 'starter homes' preventing young-ish 'first-time buyers' buying
5 The knowledge that interest rates at base can only rise and therefore mortgage repayments will rise
6 The UK's 6 months rental uncertainty factor - That is, in other European countries people may rent homes knowing they have a long term ( years ) tenancy and and a relatively fixed rental, therefore making renting a far more attractive and popular option
7 Homes have been seen as investments and now they are clearly not, given that you may pay three times or more, the actual list price of the home- in interest rates
8 Housing Associations that offer part ownership part rental are likely to have their situations altered by Government legislation
9 There is no 9 or 10
10 See above
1 Not enough properties to provide for ( the now increasing expectation of people who want to live alone ) individuals
2 The high mortgage rate in relation to the bank base rate
3 The price of 'small family homes' in relation to a 'small families decreasing income'
4 The stagnation in sales throughout the property scale due to the high cost of a 'starter homes' preventing young-ish 'first-time buyers' buying
5 The knowledge that interest rates at base can only rise and therefore mortgage repayments will rise
6 The UK's 6 months rental uncertainty factor - That is, in other European countries people may rent homes knowing they have a long term ( years ) tenancy and and a relatively fixed rental, therefore making renting a far more attractive and popular option
7 Homes have been seen as investments and now they are clearly not, given that you may pay three times or more, the actual list price of the home- in interest rates
8 Housing Associations that offer part ownership part rental are likely to have their situations altered by Government legislation
9 There is no 9 or 10
10 See above
Kingy
Well-Known Forumite
I was lucky in that I had a work colleague who only charged me £180 a month to rent his old house and then moved to a flat where the landlord charged me £220 a month. This allowed me to build up a decent deposit although I would not have been able to afford the house I have now without Mrs King being around. I am saving up for bricks and mortar for little Kings, together with university and wedding funds. I can't guarantee that they won't grow up to be tossers though, not if they take after me anyway.
Alan B'Stard
Well-Known Forumite
I am currently renting and have been out of the market for about five years.
My first property was a 100% mortgage at the tender age of 18 for 16k on a single income with only a tiny hint of a white lie that said I earnt 1500 p.a in a part time job to top up the figures.
Despite earning a reasonable income today, I could never buy a property as a single person again unless my random lucky numbers come up and I certainly could not afford the same property on a 100%, sensible 3x income lending ratio.
I blame Thatcher as she's got away scot free for several weeks.
My first property was a 100% mortgage at the tender age of 18 for 16k on a single income with only a tiny hint of a white lie that said I earnt 1500 p.a in a part time job to top up the figures.
Despite earning a reasonable income today, I could never buy a property as a single person again unless my random lucky numbers come up and I certainly could not afford the same property on a 100%, sensible 3x income lending ratio.
I blame Thatcher as she's got away scot free for several weeks.
tek-monkey
wanna see my snake?
She took my milk!
