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stardotboy

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About stardotboy

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    http://joegravett.co.uk/
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    Manchester
  1. Personally I'm renting and looking to buy when the conditions are right. I'm 25, living with my partner (24) and we both earn an above average salary. No kids or plans to have any, so pretty high disposable income. Current rent accounts for about 20% of our take-home pay, and we save about 30% of it. We wouldn't consider buying anywhere for more than 2.5x our combined salary, and will probably aim to get something at 2x our joint salary. It's still a crazy world out there at the moment though, and prices aren't nearly low enough to buy something worthwhile.
  2. We share similar views on Starbucks!! I'm honestly delighted that you enjoy life in the suburbs, and the point of my post wasn't to antagonise you. I only wish we didn't have to resort to making sweeping generalisations about the places we don't live in order to justify the places we do.
  3. Thought I would put in my two pence worth to defend the idea of living in a city and hopefully explain why so many of us do it! I'm 25 and live in the centre of Manchester in a large 1-bed place in a converted mill. Renting at the moment but when the time's right to buy I'd probably opt for something like the place I live in now. Suburban/rural living does have its appeal, but isn't right for me at the moment. Why do I like living here? It's fun. There's a ton of shops, bars, galleries, museums and restaurants just outside the front door. Despite what someone posted, the museums and galleries are free - and as for restaurants I have the choice of eating for £5 or £50 depending on what I fancy, so it's not necessarily expensive on that front. Great transport links for local, national and international destinations, making it easy to get out of the city whenever I like. The building I live in is very well managed, hardly ever hear anything from the neighbours and have never been broken into (or mugged/stabbed/murdered etc). It's really, really cheap. The rent is fairly steep in terms of square footage from an equivalent place out in the country, but the cost savings in other areas are substantial - primarily stemming from the fact that I can walk to work (15 minutes each way) and don't need/want to own a car. In my opinion the quality of life I enjoy couldn't be maintained if I moved out of the city. I'd have a longer journey to work, would probably need to get a car and would be further from friends. At the moment I also manage to put just over a third of my salary into savings - there's no way I could maintain that if I moved out without compromising on other things that I enjoy - eating out, socialising and so on.
  4. Think the clue to what this post is about lies in the first line
  5. As a potential FTB I'm getting pretty sick of the government putting out all these 'tempting' schemes to attract new entrants to the bottom of the market. Though on the surface it looks like a decent deal from the tenant/FTB point of view, fundamentally the scheme exists to prop up the unsustainable bubble that we've seen. By their own figures, the the best (but unsaid) advice to FTBs would be to save their pennies and buy when house prices have come down from their current levels.
  6. Ahh yes, good times. Back in the day when children would happily spend hours playing with nothing more than a ball of string, and didn't want for the latest gadgets. Back when people knew the value of money and didn't make impulse purchses. Back when kids had parents that took an interest in them and how they developed. Back when schools were for learning, and bunking off was practically unheard of. Back when 'serious crime' constituted nicking an apple off the local market stall, and the punishment was a right good public dressing down by the local bobby. Back when people found happiness in being selfless and supporting the local community, rather than helping themselves. Yes.... that's just how it used to be...
  7. Aside for a looming rent increase on the horizon it sounds like I'm pretty much in the same position as you. If my landlord were to threaten me with a £100 per month increase in the rent I would respectfully tell them where to go - if as you say there's plenty of other decent places you could move to for the same money I would be prepared to move. Honestly in this market though I wouldn't be surprised if they caved in and kept the rent as it is if you told them you wouldn't put up with an increase.
  8. First of all, who mentioned property development I'm a FTB looking for somewhere to live. I'm well aware prices are crashing fast in some high-profile new developments, and clearly the number of sales has pretty much ground to a halt in the city centre generally. In terms of the market being hard to read, what I was referring to was the stagnation in prices over the last 6 months or so - nothing is selling, but vendors aren't lowering their prices substantially either, presumably because they (naively) see the current situation as nothing more than a temporary blip that will soon be corrected.
  9. Anyone else have a view on the current city centre situation? I've had a close eye on the prices of city centre 2-bed flats for just over a year now, and the market is really quite hard to read at the moment. On the one hand there are some high profile developments that have had substantial price crashes (Beetham Tower, Albion Mills etc.) which in my opinion were a lot about the fact that they were priced at ridiculous levels when they first went to market at the peak of the bubble. Obviously people that bought then are now paying the price and they're being sold off for a lot less. However leaving the new developments out of the equation, prices look relatively stable - clearly this is an illusion as the market looks completely stagnant and the level prices are reflecting sellers reluctance to lower their prices in the short term. Even so it's difficult to gauge when we'll start to see substantial falls and how far down they'll go.
  10. I had a call yesterday from an EA about a couple of large repossessed flats that had come onto the market in a building I'm interested in (both pitched at £115k, though they sold a couple of years ago for more than £200k). I'm not really looking to buy in the current market obviously - though I'm not completely discounting the idea either for a building I'd like to live in. Anyway he said he'd send me an email with full details of both places - it never arrived and he called again a couple of hours later to check. Confirmed the email address with him and he said he'd resend. He called me again this morning to see if it had arrived (it hadn't) and then told me he'd print them off now and post them to me first class. Got a call 10 minutes later saying actually he'll drive around to my place and stick the details through the letterbox personally to make sure I got it. Bless. Somehow I don't think I'd have seen this level of customer service a year ago!!
  11. Long time lurker, finally signed up Currently renting, saving my pennies and waiting on the best time to buy a nice place to live in.
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