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ravedave

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About ravedave

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  1. I've posted on here a few times looking for advice, but having held off and held off I'm now in a position to purchase. Currently paying out £580pcm on rent for a 1 bed apart in centre of Belfast. Over the past two years this amounts to nearly £14k which I've essentially flushed down the toilet paying for some other persons mortgage. Now there were other factors at the time (which I have no desire to elaborate on here) which meant that renting during this time period was the best choice for me. However, time has moved on and things have changed and things are more stable, meaning I am now in a position to obtain a mortgage and I've got a good deposit awaiting. I don't see how it can ever be viable for a person to be paying out over £500 every month on rent which is money gone with nothing to show for it. If you are in for the medium to long term then surely purchasing is the only sensible option? In saying that I've been taking a quick look at the market and for a single person in 40's there is not much coice out there. Apartments are a disaster due to the transient nature of the occupants coupled with the maint fees. Nice apartments in small blocks such as the following are too closely priced to a decent semi slightly outside the centre with an additional £1,500 ish per annum on maint fees: https://www.propertypal.com/apt-4-derryvolgie-mews-4-derryvolgie-avenue-belfast/536628/photo-8 https://www.propertypal.com/apt-86b-balmoral-avenue-malone-belfast/577288 However, city centre living in Belfast has limited options and seems essentially to be only for those in 20's. I know some of you are going to say 'but Brexit is coming'. Well it has been coming for a long time now and there has been no ill effect of it. There will always be reasons not to buy, but at some point the reasons to buy must exceed them. The large apartment blocks such as Obel etc are off limits for me. I did like Wellington Sq but again it is a young crowd and I am not sure about it long term. Although there were a number of smaller apartment blocks in around Annadale Mews etc which were nice and small. So, it would seem that due to a lack of choice a semi is the only realistic option. Advice/suggestions? Is renting a waste in my case (please do not turn this thread into a general debate about rent/buying? Thanks.
  2. I see "JD" back on the Stephen Nolan show tonight with 'Make Britain Great Again' baseball hat. The man is a ballbag.
  3. When my parents were buying, interest rates were at 14%. When my uncle renovated he spent almost £100k and he was told he was mad. When I initially started looking to purchase in 2006 I was up against people bidding on properties like they were going out of fashion. I dodged a bullet there. However, ever since then and despite the correction, people on here are still saying that a further correction is required. Is there ever a right time to buy without the benefit of hindsight?
  4. I wouldn't have thought that South Studios would have been the best of apartment blocks - I think it is mostly rentals and AirBnB. I have been in Wellington Sq (off Annadale Embankment) and found it fine, but some posters here say the quality of the build is not great - I probably wasn't there long enough to notice any issues. I just want my own place now. It will be long term, so I'm not concerned about fluctuations in the market and buying at the bottom has long gone. It's kind of looking like a Semi-D somewhere in the 'burbs. Any apartment complex that would entice me would be around similar money to a house - £185k - so probably would not be worth it. I'm currently renting a single bed apartment for £575, but I'd like me own place.
  5. TBH - I'm not really fussed on OBC. It is okay, although if you move into those houses your access is via the entry at the Spar and funeral parlor - which can be a bit cumbersome during the rush. It's a younger crowd in there so at 40yo I'm thinking of somewhere a bit more sedate. In terms of apartments, I was wondering about ones up at Broomhill & Danesfort. What are they like? Is access at rush hour a problem as you are going out onto a main route? Just noticed the following which seems okay, is it? https://www.propertypal.com/apt-2-balmoral-view-96-balmoral-avenue-belfast/549110 My alternative option is to get a semi and go all in for an IoT setup in regards to automating lights and some blinds - as well as increasing the security of the doors and windows.
  6. Hi, Thought this might be a good place to ask - I need to purchase some trickle vents (existing fixing centres are 440mm) in light brown. Where is the best place to get these, didn't think they would be so hard to locate? Thanks.
  7. I suppose my main concern would be security as I would be away often. I just felt that initially an apartment would be more secure as my patterns would not be easily observed.
  8. Looking to purchase in this year. Can't/Won't put it off any longer. I think that an apartment might be a suitable proposition for me - single male in 40's, close to town, car parking, ease of maintenance, etc. Plus, I'm not always about - esp at weekends so my routine would not be a visible as with a house, making it less of a target for crime. However, from reading on here I am aware that apartments are not well thought of. I've been in some of them in the city centre and I agree that they are not 'ideal' for someone looking to be a owner/occupier. So, the question is - where are the decent apartments in Belfast? It is easy to knock down the bad ones, but where are the decent ones? When the price starts going over £170k - £180k I think a semi-detached becomes a more viable option. I'm currently in Old Bakers Court and I'm finding that noise from upstairs apartment is annoying - esp late at night (after midnight) and early morning (before 6am). Any suggestions welcome.
  9. House prices could drop by 30% in the event of a no deal BREXIT: Bank warns no-deal could see UK sink into recession I can't see this scenario actually playing out. The lack of supply of decent stock on our market at present may also cushion the fall here. I expect any drop to be quite small compared with 07.
  10. It is a supply of decent properties I'm talking about. A lot of what is coming onto the market is garbage therefore the decent properties (or those with potential) are gaining a lot more attention than normal.
  11. That can only happen if the right properties come onto market. The market is being held up by a lack of decent housing pushing prices upwards. My opinion is that Brexit will be a fudge at worst or will not happen. Sentiment is changing and no-one will want to be the person/PM/party to throw the UK into the oncoming nightmare of a hard Brexit or anything other than remaining in the CU. Therefore, I'm going to pull the trigger if something I want becomes available. My only problem is that as a single purchaser, I'm up against couples who have more clout than I have. How much over asking are properties currently selling for in S/SE - specifically semis?
  12. Hmmm... Not as much chat and discussion on the reports now as there used to be! From glancing through the results, most areas seems to be reporting a healthy YoY increase, although the swing in the previous quarter is refreshing for buyers in most areas - Belfast being practically static. It would need to continue for a few more quarters for it to be meaningful. There does appear to be the beginnings of a plateau in both sales and prices. However, whether there will be an adjustment is difficult to say. I suspect not. Despite the number of users on here who believe the market here is overpriced, what we have seen is that there is still plenty of cash about and poor returns in other investment vehicles. Also, a number of people similar to myself who have been out of the market since early 2000's who are just fed up and going ahead with purchases, knowing that these will be long terms homes and prepared to ride out the short term volatility. Annual increments have been positive since Q4 2013. I expect this to remain positive for a year or two yet at the very least.
  13. Hello, I've invested most of my savings in an S&S ISA via an IFA which I am happy with. I also have about £50k in savings in a savings account which are doing terribly. In the next 1 - 2 years I plan to purchase a property. I am looking to starting investing some money as a means of becoming more self responsible for my finances. I have planned to take a sum of £5k and invest it somewhere - probably in a VLS100 fund or its Blackrock equivalent. I don't intend to go down to investing in shares specifically yet. I've got a LISA opened with the minimal £100 amount. What I am dithering about is whether to put the money into the LISA and get the £1k bonus or invest it into a fund without a wrapper so that I have more freedom with it. I appreciate that I can get the money out for the house purchase if I need it, but I'm not sure if I meet the FTB criteria as a relative has gifted their house to me (in a far off region) for which I am very grateful. They will live their for their life before it comes to me. I'm a lower rate tax payer and as a contractor I take the rest of the money as dividends and pension contributions from my company. Any advice on whether I should use the LISA or avoid? Thanks.
  14. Are you expecting the news to have a downward effect on the market? I'm paying almost £600pcm on a rented apt. I'm thinking of moving towards a purchase as I don't see myself moving in a long time and I'd rather make the money work a bit better for me. Trying to see how much property is going for in S/SE Belfast. Might have to opt for an apt if I can't get a decent semi detached. There will always be a number of people after the decent houses and I'm not sensing that there will be any significant correction in the year year or so I'm thinking of purchasing for this reason.
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