Sign in to follow this  
Followers 0
spord

Leamington Spa

5 posts in this topic

Just exchanged contracts today on a 3 bed semi, at about 10.5% less than its 2006 sale price. Seems a pretty good deal for us, with an offset mortgage, and will save us £450 a month compared with our current rent/council tax, while rates remain low (so, for the next ten minutes or so).

Borrowing 1.9 times our combined salaries (or 3.8 times mine), which doesn't seem too horrendous. It's been a bit depressing looking at the market for the last couple of years in our chosen area - CV32 - because almost everything is vastly overpriced (no, I'm not paying a quarter of a million quid for a 3 bed semi with a crap garden). The good stuff has gone very quickly for, apparently, at or above asking price in some cases, while the dross has stagnated.

We're still going to want prices to drop to be honest - this isn't exactly the forever house, just a stepping stone on the way there, but I've gone from hoping they drop quickly to hoping they drift down to a more sensible level over the next few years.

Thought I'd share that with you all!

Share this post


Link to post
Share on other sites
[quote name='spord' date='03 February 2010 - 07:44 PM' timestamp='1265226261' post='2371949']
Just exchanged contracts today on a 3 bed semi, at about 10.5% less than its 2006 sale price. Seems a pretty good deal for us, with an offset mortgage, and will save us £450 a month compared with our current rent/council tax, while rates remain low (so, for the next ten minutes or so).

Borrowing 1.9 times our combined salaries (or 3.8 times mine), which doesn't seem too horrendous. It's been a bit depressing looking at the market for the last couple of years in our chosen area - CV32 - because almost everything is vastly overpriced (no, I'm not paying a quarter of a million quid for a 3 bed semi with a crap garden). The good stuff has gone very quickly for, apparently, at or above asking price in some cases, while the dross has stagnated.

We're still going to want prices to drop to be honest - this isn't exactly the forever house, just a stepping stone on the way there, but I've gone from hoping they drop quickly to hoping they drift down to a more sensible level over the next few years.

Thought I'd share that with you all!
[/quote]
Was at a party last weekend from a chap who's lived in and around that part of the West Midlands for the last 15 years. His comments chime with yours - no family homes on the market in the last 18-24 months. Quality snapped up at sometimes above asking.

He STR'd 18 months ago and is renting in outer Leamington waiting for an opportunity.

Congrats on your new home and all the best! :)

Share this post


Link to post
Share on other sites
[quote name='spord' date='03 February 2010 - 07:44 PM' timestamp='1265226261' post='2371949']
Just exchanged contracts today on a 3 bed semi, at about 10.5% less than its 2006 sale price. Seems a pretty good deal for us, with an offset mortgage, and will save us £450 a month compared with our current rent/council tax, while rates remain low (so, for the next ten minutes or so).

Borrowing 1.9 times our combined salaries (or 3.8 times mine), which doesn't seem too horrendous. It's been a bit depressing looking at the market for the last couple of years in our chosen area - CV32 - because almost everything is vastly overpriced (no, I'm not paying a quarter of a million quid for a 3 bed semi with a crap garden). The good stuff has gone very quickly for, apparently, at or above asking price in some cases, while the dross has stagnated.

We're still going to want prices to drop to be honest - this isn't exactly the forever house, just a stepping stone on the way there, but I've gone from hoping they drop quickly to hoping they drift down to a more sensible level over the next few years.

Thought I'd share that with you all!
[/quote]

Well done. Leamington is a great town, I used to live there many moons ago and am very jealous of your luck!

Share this post


Link to post
Share on other sites
Does anyone have a view on a place like this as somewhere to live ?

[url="http://www.rightmove.co.uk/property-for-sale/property-31548476.html"]http://www.rightmove.co.uk/property-for-sale/property-31548476.html[/url]

Share this post


Link to post
Share on other sites
[quote name='LuckyOne' timestamp='1291382818' post='2809713']
Does anyone have a view on a place like this as somewhere to live ?

[url="http://www.rightmove.co.uk/property-for-sale/property-31548476.html"]http://www.rightmove.co.uk/property-for-sale/property-31548476.html[/url]
[/quote]

It's a very busy road.

If you're looking for that type of property I'd look elswhere. Maybe Beauchamp Hill, Clarendon Crescent, Binswood Ave.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0