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ravedave

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Everything posted by ravedave

  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.
  15. What is happening Apr 19? Is this the CGT on non residents? If so, why do you expect this to have a noticeable effect on the market? What sort of money are you needing now for a decent semi in S/SE Belfast? I see plenty going on at around £170k - anyone know what price the hammer is dropping at?
  16. In light of today's NIRPPI announcement, the low housing stock and Brexit etc, what option should someone take who is looking to purchase a long term property to live in? PWC predicted +1% this year and 0% in 2018 (http://www.bbc.co.uk/news/uk-northern-ireland-40637871). However, we're currently sitting at +4%. I really can't see anything in the next 24 months that will cause a big enough dip (inc. Brexit) to make stalling a worthwhile option. The interest rates rise, whilst was in the headlines probably won't have made much of an effect once people have analysed the effect of it on their finances. What do the wise heads on here say? Currently renting @ 600pcm.
  17. I think it is this one: https://www.gov.uk/government/collections/uk-house-price-index-reports Looks like it is using the data reported in the August NIRPPI. So, is that approx 2% above inflation?
  18. That is steep for there! What was the peak up there at 07? I read an article that Interest Rates will be rising sooner rather than later (before the end of this year). Any chances of that cooling things off a bit? It keeps being said on here about rises can't last and that the property is overpriced. Is there a danger of wishing for something that won't happen and "missing the boat". Is there any reason for a rate rise and Brexit to lower prices? In fact, is it possible that a potential different Brexit deal for NI to GB would actually result in a rise or continuation of the current trend?
  19. Hi, What is happening in the market currently? Like the OP I'm considering dipping my toes back into the property market. Looking a city centre & south Belfast. Is there much activity at the viewings and competition for the properties? I'm currently renting and although I think their might be some type of 'adjustment' in property prices dues to Brexit I'm of the opinion that it won't be sufficient to be worthwhile holding back. Just wondering if there are any reasonable apartment complexes in Belfast worth considering - I'm still undecided as to whether to look into houses or apartments. From a lifestyle point of view, I think apartments suite me better, but anything decent is the price of a good house! Just looked on PropertyPal at the semis on Stranmillis Rd on at £475k. It's an awful lot of money to be perched on the side of a steep embankment with no garden on one side and a very busy road on the other. Plus nowhere for the kids to kick a ball or play. Way out of my price range anyhow, but fools and their money are soon parted.
  20. Just realised that I was on the US Vanguard website to get that portfolio info
  21. I am leaning to a LS80 fund. It seems pretty close to what I was originally aming for - low OCF, good spread of funds, auto rebalancing and a good performance. I would like to put a smaller amount into something a bit more 'riskier/voltaile' in order to chase higher returns. Just not sure what. I'm just trying to figure out what platform to use. Currently swaying to HL or Interactive Investor. Just been on the Vanguard website where they have a tool for fund selection (as good a way as any!) and it threw out: 42% $31,500.00 Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) 28% $21,000.00 Vanguard Total International Stock Index Fund Investor Shares (VGTSX) 21% $15,750.00 Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) 9% $6,750.00 Vanguard Total International Bond Index Fund Investor Shares (VTIBX) Playing with the options seemed just to alter the percentages for these four funds. Although there is no auto balancing. Just noticed that these funds are listed here: https://www.bogleheads.org/wiki/Lazy_portfolios
  22. Hi, Is there anywhere that I could get an index of top performing funds or similar? Thanks.
  23. Interesting read on the Vanguard LS funds: http://www.diyinvestoruk.blogspot.co.uk/2015/04/vanguard-lifestrategy-one-stop-solution.html
  24. I've got money to put in now and I can also drip some in too. My main aim at the minute is to get some money out of a poorly performing saving account and an onto an investment platform. I like the look of the LS80. I like the auto rebalancing, spread of funds and the lowish fees. Performance represents the return. I don't know if I should be happy with it. On the face of it paying £2,500 for a gain of £43,000 seems a fair cost. But is it? Initially I thought fees of 0.75% were fine, but once I digested compund interest I realised they were not. Yip, I've read it and am going through it again. It is a good site, if a bit poorly presented. I think I'll get some IFA help to set things up initially and manage it myself. I've got approx £80k in ISAs which could be moved over and an S&S ISA which needs moving on top of the investment sum. Yes, that is the medium term plan. However, I'm thinking about getting advice on how to set this up and choose funds which I would then manage myself. I'm not sure if this is the correct way to go, but my procrastinating is stopping me from starting this!
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