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House Price Crash Forum

Different Gravy

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About Different Gravy

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    HPC Newbie
  1. What is the general consensus on these and inflation now? The gamble of inflation going up and tax free status appeals personally, or am I being daft?
  2. Never trust a woman who promises to eat her hat if the proprty market crashes.......... and then forgets/doesn't
  3. I'm sure that if you've been lurking here a while, taken in peoples reasoned arguments and done your research then you'll have thought everything through, for your situation pro's and cons wise. I'd like to say congratulations on having the balls to put in the 50% offer in the first place and well done on securing the home you want. I have considered doing the same thing to be honest, thinking if it gets accepted its meant to be, if it doesn't, it's not. I'm talking about a 50% offer by the way - not spraypainting a huge pink kn0b on my wall All the best
  4. You could wait, pay £15k less and pay the mortage off 4 years earlier - but so what "Whats wrong with a flat?" Hearing your neighbours going for a p#ss in the night " " " arguing Coming home from a hard days work to find some @~#, in your 1 parking space A single mum with 2 kids who pays for nothing moving in next door
  5. That particular house would be about £7000 per year rent plus a couple of resprays from your car being keyed. If his parents are charging him £10k a year rent he needs to get new parents!
  6. Basically the developer offers you as a "deal" to wither pay your legal fees/stamp duty/ carpets or they pay your deposit (5%) if you don't have one or (around 2004) they decided that they could offer to pay your first 12 or 24 months payments on your mortgage. The house then has effectively not been discounted and appears on the land registry etc at the original asking price. This is another reason the average house price was so "not quite correct" There are plenty of 3 beds in Chandlers Ford for around the £150k mark, the majority have been on there for 9+ months and would easily lose £15k for a bit of attention from a rare buyer with a bit of deposit and realistic chance of getting a mortgage. An example (can't work out how to provide the link) the 3 bed at £162,950 on with Austin and Wyatt appears to be a repossession. When it was £167,950 it had a note on it to say they accepted on offer of £138k before christmas on behalf of the mortgage company and anyone wanting to offer more had until whenever to offer more. Its since come back on the market with £5k off the asking. I would say the fact they accepted £30k less has greased the wheels in your favour for a lower offer. These houses were approx £90k in 2001. When they are at that level again thats when I'd buy. Some others that need work are on for £135k with a garage and a drive. If you are really desperate to buy I would definately go for the 3rd bedroom as a) you can rent a room out and offset any future depreciation and believe me, no matter what your plans are you wouldn't be the first bloke to wake up one morning to find you suddenly have a wife and kid(s) and that 3rd bedroom will be a godsend and save a lot of hassle moving. I would say that if you can stay at home and save another £15k over the next 3 years you will have a 50% deposit. Hope this helps
  7. I would pull the offer. If you really want to buy, look up 3 bedroom houses in Chandlers Ford on rightmove and put a cheeky offer in on one of those. As a previous poster has mentioned, long term it has better schools and just as good commuting links to the motorway and train. Eastleigh will not be a nice place to live in a downturn believe me - it wasn't when times were good! All that cinema is going to do is make the traffic situation in the area even worse. The prices on the old pirelli site were disgustingly over inflated. I have a few friends living there who are in 2-3 years wages worth of negative equity. I don't know how long it has taken you to save your deposit but I'd bet that it will be eaten up within the year. That will not feel nice. PS if its no 75 you're looking at it didn't cost £180k in 2004. Not when you take into account that the developer paid £650 per month towards the mortgage for the first 24months (hence why next door only cost £168k) so I'd say you're only saving about £25k on its 2004 value All the best with your decision
  8. No but the fourth time is. Sarcasm is also the lowest form of wit
  9. If you were thinking of/could change your career, what do you think would be a sound choice, with regards the state of this country over the next 3-5 years and why? A few I have thought of..... Locksmith - very busy working on houses that have been repossessed Funeral director - sadly people will constantly die Emergency Plumber - Taps etc always go bad Police Force (sorry, service) - As long as you can avoid riot duty! Any others?
  10. Could provide a good insight into the unfortunate side of all this mess
  11. the way i see it you have two choices. 1. Buy now and get a mortgage for the other 50% around your neck for the next 25 years 2. Wait at least 2 years and buy 100% for cash and thank your lucky stars that you once typed "housepricecrash" into google. If I can give you another little bit of advice? Don't tell too many people you have a stack of cash in the bank. You will have a lot of "friends" coming to you for it over the next few years with their sob stories or jealousy because you just don't know how hard life is blahdy blah.
  12. Can I asked what you said when someone at the dealership asked if you'd like to take out a PCP on the car with a guaranteed minmum future value? Who says renting is dead money?!!!
  13. I really don't understand why anyone would want to tie their own cash up in a car. The article is coming from the wrong angle. If you buy something for £30k on finance with a guaranteed baloon of £15k and it ends up being worth £8k then surely you were better off capping your exposure to its depreciation using the finance and handing it back???. Although hire purchase doesnt have a guaranteed baloon, because you can hand it back once you have paid back over half the total amount (termination righs) even this makes more sense than paying cash surely? Before I'm shot down in flames over interest, I would add its obviously important to beat them up on the rate! I know a few people who wished they'd bought property on a pcp ha ha!!
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