Another Boring House Price Thread

[Lammy]

Lammy is this your profession?

i read the other day out of a survey of first time buyers between 19 and 29 in the SE, that I think 53% were now buying abroad as a first time buy at an average price of 100k instead of 160k what do you think to that

Nope, I'm just passing on the advice I recieved from several sources when I was looking to save for a house about 3 years ago. I bought my house last year and house prices haven't gone up much since then.

£160,000 bought me a three bedroom semi so I suspect you would be able to find property a lot cheaper than that for a first time buy.

Curious Orange obviously wants to move into some yuppy apartment somewhere and feels he needs to save £30,000 to do this. If he was prepared to lower his expectations and join the ladder at the bottom rather than the middle he would be able to afford a place to live.

There are some people that are buying property abroad aswell as renting over here. If you buy in Spain you can get 25year fixed rate mortgages which is attractive for some. But you are still paying rent which is dead money.

You are still better off just lowering you aspirations. If you MUST live in Brighton have a look in the less desirable areas of Moulscombe and Whitehawk. You are not looking to move there for the rest of your life.

 

[caz99]

You'll get there then. It just takes time.

It's well worth the effort though. A 95% mortgage is not that bad either to be honest and I would definitely reccomend it for a first time buyer. A £100,000 mortgage will probably set you back about £600 a month. Which is would you would expect to pay in rent on a one bedroom flat in Brighton anyway.

yes true but its very frustrating seeing as five years ago things were slightly different. i live in sompting now but would like shoreham, lancing, sompting area which is still not cheap. i dont want to live in a shitty area

 

[Lammy]

yes true but its very frustrating seeing as five years ago things were slightly different. i live in sompting now but would like shoreham, lancing, sompting area which is still not cheap. i dont want to live in a shitty area

Tell me about it! My sister bought her first house 5 years ago for £124,000 she then sold it for £195,000. I had to pay £160,000 for my first house of similar size.

Like I said in a previous thread my Dad bought his first house for £5,000 and 9 months later his mate bought his similar house for £10,000.

In 20 years time the difference will be nothing.

 

[Albion Rob]

My girlfriend and I are looking to get on the ladder and this is the way things stand in Eastbourne.

We're basically looking at 100 per cent mortgage. We both went to uni and I did an extra year to secure an extra qualification I needed. A deposit is not out of the question as we have some savings but we would rather use the money saved (as much as 5k if we choose) on the fees etc.

As it stands, we want to live in the centre of Eastbourne. We comfort iurselves with the fact that we could pick up a decent house in Hampden Park or Langney if we really wanted to but as we are young and are hopeful that the town centre regeneration project will provide the town with a major shot in the arm, we feel it would be best to live there.

Our main problem has come from buy-to-let people coming along and chucking cash down for properties we want. We saw a cracking place in the town centre. Two bedrooms, garden, decent enough size, needed a bit of work but was on for 115k. We decided that it was a banker because if things did turn against us we would always be ok just because we had done it up. A cash buyer came in and offered the amount and that was basically it.

We are still looking but are mightily pissed off. I earn a decent wage and my girlfriend earns a good salary but we don't want to start paying above 125k for a place because the repayments start getting ridiculous and all it takes is for something to happen and we could be up to our necks in it.

Hard to know what to do really. Am in the position of wanting to make the most of my life while being younh while at the same time knowing that if things continue the way they are then the situation will only get worse.

The whole thing seems to me to be built on a house of cards and a vacuum could easily be created if people are genuinely priced out, which I feel they will be when people from my generation hit 30, but as stated before there will probably always be enough people out there renting.

 

[Lammy]

My girlfriend and I are looking to get on the ladder and this is the way things stand in Eastbourne.

We're basically looking at 100 per cent mortgage. We both went to uni and I did an extra year to secure an extra qualification I needed. A deposit is not out of the question as we have some savings but we would rather use the money saved (as much as 5k if we choose) on the fees etc.

As it stands, we want to live in the centre of Eastbourne. We comfort iurselves with the fact that we could pick up a decent house in Hampden Park or Langney if we really wanted to but as we are young and are hopeful that the town centre regeneration project will provide the town with a major shot in the arm, we feel it would be best to live there.

Our main problem has come from buy-to-let people coming along and chucking cash down for properties we want. We saw a cracking place in the town centre. Two bedrooms, garden, decent enough size, needed a bit of work but was on for 115k. We decided that it was a banker because if things did turn against us we would always be ok just because we had done it up. A cash buyer came in and offered the amount and that was basically it.

We are still looking but are mightily pissed off. I earn a decent wage and my girlfriend earns a good salary but we don't want to start paying above 125k for a place because the repayments start getting ridiculous and all it takes is for something to happen and we could be up to our necks in it.

Hard to know what to do really. Am in the position of wanting to make the most of my life while being younh while at the same time knowing that if things continue the way they are then the situation will only get worse.

The whole thing seems to me to be built on a house of cards and a vacuum could easily be created if people are genuinely priced out, which I feel they will be when people from my generation hit 30, but as stated before there will probably always be enough people out there renting.

Your problem is that you think you will have spare money after you get a mortgage.

When you start out you have to kiss that goodbye! In few years you will have spare cash. That's when you have kids so kiss by to that again! Then they go to Uni and you are in poverty for 3 years!

Life is GREAT!

 

[Barnet Seagull]

I bought an ex-council flat in a reasonably rough area of London 3 years ago, way out of my comfort zone and where I wanted to be, but instead of paying £500-600 a month rent in a shared house somewhere nice. I've my own place. I've since got one of my best mates as a lodger which clears my overheads and a mortgage less than I'd pay in rent.

 

[Curious Orange]

Curious Orange obviously wants to move into some yuppy apartment somewhere and feels he needs to save £30,000 to do this. If he was prepared to lower his expectations and join the ladder at the bottom rather than the middle he would be able to afford a place to live.

Well that made me laugh!!

My problem is that I live in Guildford. No way could I afford some yuppy apartment around here! I have low expectations about what I'll eventually purchase, and realistic ideas about the sort of dosh I'll need to buy it!!

 

[Albion Rob]

Your problem is that you think you will have spare money after you get a mortgage.

When you start out you have to kiss that goodbye! In few years you will have spare cash. That's when you have kids so kiss by to that again! Then they go to Uni and you are in poverty for 3 years!

Life is GREAT!

Oh Christ no, we are fully aware we will have no money.

What we are not prepared to do is to get a succession of credit cards and loans to fund a fun lifestyle while actually being on our knees as far as mortgage repayments are concerned.

I'll tell you what I feel like - Brighton and Hove Albion FC.

We struggle along, not taking out huge loans or getting credit cards. Trying to live within our means and trying to piece together enough money to buy a crumby property in a fading seaside town.

Meanwhile we watch our contemporaries dressed head to toe in bling while chattering into their swish new mobile phones about the snazzy holiday they just enjoyed on the old 'glad and sorry'.

And as many on here feel about the Albion, maybe we should just throw our toys out of the pram and join the great debt rush. Worry about it another time - it will be someone elses problem by then. Surely the government will be forced to save us. Or maybe the internet will.

We know we are doing the right thing and are under no pretensions about what our lives will be like as soon as we receive the keys to whatever we buy, it's just impossible to escape from that nagging sense of injustice that I know dogs every Brighton fan.

 

[Lammy]

Well that made me laugh!!

My problem is that I live in Guildford. No way could I afford some yuppy apartment around here! I have low expectations about what I'll eventually purchase, and realistic ideas about the sort of dosh I'll need to buy it!!

Well for £8000 deposit you could get this place.

http://www.rightmove.co.uk/viewdeta...C5FE83630CDBEEE814A9?pa_n=1&tr_t=buy&chnl=buy


Why do you have to live in Guildford anyway?