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Bluefoxtim

Houses

By Bluefoxtim, in General Chat

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RODNEY FERNIO

RODNEY FERNIO

Posted
Posted
4 hours ago, RoboFox said:

Absolute pipe dream owning anything south of Watford. 

 

Unfortunately I've ended up in a media career which is almost exclusively London or Manchester based. I don't want to move north, so I'm going to be pissing money up the wall on London / commuter belt rent forever. 

 

The other half an I realised the other day we'd spent nearly £90,000 on renting our current flat. No wonder we'd never be able to save for a deposit on a £300,000 one bed flat. 

 

Life.

My nephew and his partner bought a glorified bed sit in Hong Kong last year for £550k !!

They think London is cheap …. absolutely mind boggling.

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Samilktray

Samilktray

Posted
Posted
3 hours ago, Christoph said:

Should be moving out this year. First time buyers. Me and my girlfriend have around £20k total for a deposit. Just saving up some money for doing up the house and furniture etc. Kind of shitting it to be honest. 

Me and my girlfriend have been saving for what feels like forever and it still feels like we’re nowhere near a good figure for a deposit yet. Very depressing 

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Detroit Blues

Detroit Blues

Posted
Posted
3 hours ago, Christoph said:

Should be moving out this year. First time buyers. Me and my girlfriend have around £20k total for a deposit. Just saving up some money for doing up the house and furniture etc. Kind of shitting it to be honest. 

My wife and I bought our first house a little more than two years ago. I would agree it's quite the nerve racking experience. We bought a fixer-upper, so there were quite a few surprises along the way, even after the house became ours. The mantra that there's always something breaking is true. It may seem like life is just the period in between housing emergencies lol. 

 

But like others have said, it's a chance to build up equity. Even more important, it's a chance to make something yours. When it's not a frozen wasteland outside, i'll sit outside in my backyard with a beer, and it all seems worth it.  

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Christoph

Christoph

Posted
Posted
On 14/01/2019 at 19:59, Samilktray said:

Me and my girlfriend have been saving for what feels like forever and it still feels like we’re nowhere near a good figure for a deposit yet. Very depressing 

 

I moved back in with my parents and my girlfriend lives with her parents so it has made saving much easier. I pay pathetic £50 a month board which covers the amount of food I eat in about a week and she doesn't even pay board.

 

I can put £500 - £600 away each month whilst still having enough money to do what I like so it has made saving much easier. I think I started saving around August 2017. I know moving back in with parents is definitely not ideal for most people though, especially if you have kids or locked in a lease for however long but if you can it makes saving up so much easier. 

 

 

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The Fox Covert

The Fox Covert

Posted
Posted
On 14/01/2019 at 13:54, RoboFox said:

Absolute pipe dream owning anything south of Watford. 

 

Unfortunately I've ended up in a media career which is almost exclusively London or Manchester based. I don't want to move north, so I'm going to be pissing money up the wall on London / commuter belt rent forever. 

 

The other half an I realised the other day we'd spent nearly £90,000 on renting our current flat. No wonder we'd never be able to save for a deposit on a £300,000 one bed flat. 

 

Life.

I also work south of Watford, on a sub-contract basis. My employers have been looking for staff with my skill set for months and the salary is eyewatering compared with anything I ever earned on a permie job. Will I apply? No chance. I would need at least 100K on top of what I would get for my almost mortgage-free 3 bedroom house to buy a tiny flat. Could I pay that off in the remaining years before I expect to retire and be mortgage-free again? No chance. Anywhere within 50 miles of London is like another country for the half of the UK's population which live outside.

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ozleicester

ozleicester

Posted
Posted (edited)

Prices are collapsing here... down by 10%+ in the past year and coz we live in a dodgy spot 1 .5 hours from Perth, you can get a 1/4 Acre block and decent home for about $125000 (70,000 pounds)

 

Edited by ozleicester
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simFox

simFox

Posted
Posted
On 14/01/2019 at 18:11, Izzy said:

Well that's one way of approaching it I suppose :D

 

The other could be excitement, eventually getting on the ladder, owning your own gaff, making money from an investment, a new beginning, new neighbors, a new life together, a shared purpose etc, etc.

 

Being a first time buyer is the nuts mate. Enjoy the process :thumbup:

No one makes any money, well certainly not any home owners.

 

Our house has increased £70k, but the houses we want to move to have increased twice that. It's all just numbers on a piece of paper to us, it's only the estate agents get the benefit through bigger commissions.

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Jattdogg

Jattdogg

Posted
Posted
4 hours ago, simFox said:

No one makes any money, well certainly not any home owners.

 

Our house has increased £70k, but the houses we want to move to have increased twice that. It's all just numbers on a piece of paper to us, it's only the estate agents get the benefit through bigger commissions.

You do make money though. You only recognize that increase  when you move to another town or city (that isnt as great most likely) with lower prices. Sucks but thats pretty much the only way to look at it.

 

 

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Babylon

Babylon

Posted
Posted
On 18/01/2019 at 23:15, AS78UK said:

Anyone know how much an architect charges for a small double storey side extension and a loft conversion. Also if anyone knows tlany good builders would be great too. 

Let us know if you get some rough costs, I'm looking to get some work done and have been wondering the same myself!

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simFox

simFox

Posted
Posted
46 minutes ago, Jattdogg said:

You do make money though. You only recognize that increase  when you move to another town or city (that isnt as great most likely) with lower prices. Sucks but thats pretty much the only way to look at it.

 

 

That's not true. You would make money that way, even if you moved and the house prices didn't change. The houses in the rubbish areas increase too.

 

 

 

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kenny

kenny

Posted
Posted
39 minutes ago, Babylon said:

Let us know if you get some rough costs, I'm looking to get some work done and have been wondering the same myself!

You can expect around £30-40k for the loft conversion and £60-80k for the side extension.

 

The cost of materials is rising rapidly, as much as 5% a month on occasions and I am finding that the cost of extending your house is not the instantly profitable exercise it used to be!

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Jattdogg

Jattdogg

Posted
Posted (edited)
1 hour ago, simFox said:

That's not true. You would make money that way, even if you moved and the house prices didn't change. The houses in the rubbish areas increase too.

 

 

 

They do but chances are if you live in a more well to do area prices increase faster because more people want to be there then in a shittier area

Edited by Jattdogg
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simFox

simFox

Posted
Posted
10 hours ago, kenny said:

You can expect around £30-40k for the loft conversion and £60-80k for the side extension.

 

The cost of materials is rising rapidly, as much as 5% a month on occasions and I am finding that the cost of extending your house is not the instantly profitable exercise it used to be!

I looked at extending, but you have to be aware of the ceiling limit of the area, which is why there's no point extending ours. We'd just lose money.

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The People's Hero

The People's Hero

Posted
Posted
On 19/01/2019 at 14:31, RoboFox said:

Ok, dudeo. Let me rephrase.

 

It’s an absolute pipe dream for me to own anything south of Watford.

I wasn’t having a go. 

 

You probably need to work here or even better, in London. 

 

We we are in a bubble. I fear it will have to burst some time. 

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chuck'em

chuck'em

Posted
Posted

We're having a nightmare with our move. The first buyer pulled out with about 2 weeks to go and then we found a second buyer quickly who is a cash buyer, apparently has loads of properties he rents out. Move day was meant to be Thursday this week but now he's dragging out the exchange, saying he needs us out of the house before exchanging contracts. Obviously we can't do this as we can't move into the new house until the exchange and money is all finalised.

Has anyone encountered this before? 

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