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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!
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Leamington Spa
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#2
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Posted 03 February 2010 - 08:19 PM
spord, on 03 February 2010 - 07:44 PM, said:
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!
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!
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!
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<b>".........we are currently in a state of wealth destruction. So if you can preserve your wealth in those conditions, you're doing very well." - George Soros, May 13 2008</b>
<!--coloro:#000080--><span style="color:#000080"><!--/coloro--><b>"You're born, you take shit...... You get out in the world, you take more shit........ You climb a little higher, you take less shit....... Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like.............Welcome to the layer cake, son" - Eddie Temple, October 2004. </b><!--colorc--></span><!--/colorc-->
#3
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Posted 03 February 2010 - 10:17 PM
spord, on 03 February 2010 - 07:44 PM, said:
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!
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!
Well done. Leamington is a great town, I used to live there many moons ago and am very jealous of your luck!
"If you want to believe the global economy will one day collapse that is just fine, but should that scenario actually pan out the last of your concerns will be which local market is accepting gold in exchange for food. The man with the most lead will be the man with the most food in that scenario." Pragmatic Capitalism "Reflections on gold as an asset class" 4 March 2010 (www.pragcap.com)
#4
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Posted 03 December 2010 - 01:26 PM
Does anyone have a view on a place like this as somewhere to live ?
http://www.rightmove...y-31548476.html
http://www.rightmove...y-31548476.html
#5
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Posted 08 December 2010 - 02:02 PM
LuckyOne, on 03 December 2010 - 01:26 PM, said:
Does anyone have a view on a place like this as somewhere to live ?
http://www.rightmove...y-31548476.html
http://www.rightmove...y-31548476.html
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.
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