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House Price Crash Forum

Jester

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Everything posted by Jester

  1. No it's not in your hands. It's market forces that decide how much your house is worth. House prices go up an they go down. Just like any other investment.
  2. But that's the whole point. The rent doesn't cover the mortgage. Nor does it cover other costs, that actually can be quite substantial, if you're going to run a nice BTL.
  3. In addition to my comment above. If I had enough money to purchase the property without a mortgage I would invest my money elsewhere. Easier and more profitable. Yes?
  4. Are you sure about that? The figures really don't add up to me. As I keep on saying possibly if you DON'T have a mortgage on the property and you do the maintenance etc yourself.
  5. No, I don't think so, because there are easier (and more ethical) ways of making more money.
  6. My thoughts? For what they are worth are you can't make much money out of BTL if you have a mortgage on the property and if you don't do the maintenance yourself. it's neither an income or a pension. BTL have kept house prices artificially high. And housing benefit keeps rents artificially high. The situation now appears that the housing bubble has burst for sales. But also people aren't prepared to rent properties at the higher rental prices.
  7. Ahhhhhh ok thanks for that. Even taking into consideration the capital gain it really was never much of an earner if ever. It's a case of don't give up your day job.
  8. 4 bed detached £750 overpriced in my opinion. Personally I would sell it. But hey what do I know? http://www.rightmove.co.uk/property-to-ren...summary23613263
  9. I think Redcellar is correct I'm riff raff and I'll never understand.
  10. That's hilariously funny. I'm so glad that I asked this question. Just to let you know that I don't rent out properties. I also own my properties but I don't have a mortgage doing so. I get the bit about the rent paying the mortgage or just about paying the mortgage. Having said that where I live £300000 properties are being let out for about £700 per month and so those figures don't quite add up even at low interest rates. Cheaper properties, say £180000, still only bring a rent of about £400 per month. But there is also all those other costs. I'm sorry but I'm not sure that these landlords are capable of basic accounting principles. Even in good (normal) times I still can't see how it makes economical sense.
  11. Seriously though, my friend has a BTL. She spends loads and loads of money on maintenance ( like new kitchens and painting and decorating) Tenants seem to cause so much damage. She also has a mortgage on the property. And then there's insurance and other costs. I could understand it (just about) if she didn't have a mortgage. Also it would help if she did the maintenance herself - but she doesn't.
  12. When you've paid for everything. Especially if you have a mortgage. How is BTL a sound investment? Am I missing something here?
  13. How does one get social housing? I want one!
  14. I've commented on this before. There was a new development in my village. The build quality wasn't that good but I was interested in further investigations. The prices were ridiculously high and so I said to the builder if you decide to reduce the price let me know. Needless to say I heard nothing. One by one these houses have come up for rent. There's about 8 on rightmove.com now. Bearing in mind the revelations on the BBC that new houses are not suitable for housing associations to buy I now have to decide do I want to rent one of these sustandard boxes for £700 per month?
  15. Yes I've got it sussed - definitely a prison
  16. The rooms were so small in one of the places that I looked at. I commented on this to the builder. He said that he was going to take down some of the walls upstairs thus making fewer bedroom but at least the rooms would be larger. Nothing could be done about the downstairs by the way. Incidently this particular house had slanting walls. So fitting a very small house on a tiny odd shaped piece of land. All for £200 000 - they must be joking>
  17. Thanks for that comment but I would love to know what it means.
  18. Yes to all of the above. I have just sold my house (in a buyers market) in two weeks. Everyone told me that I had priced it too low. But no people were falling over themselves to buy my house because it's a beautiful house (even though it was in need of decorating etc. Since selling my house I've been looking to buy. I've seen loads of house with small rooms, inadequate kitchens and poor sanitary arrangements. I'm not surprised that the housing associations are turning down so many properties. I have walked through numerous houses where I have had to say these rooms are just too small. Merran said it all on Property watch. She said that it was ok to buy a house in this climate but make sure that it's a good one that you will have no problems selling when the time is right to sell. I've come close to making an offer on a property that doesn't quite tick all the boxes but quite frankly I'm going to wait until the right property comes my way.
  19. Am I the only person to find her arrogant smirking face offensive?
  20. So you're saying that the fact that rents were reduced and affordable housing was provided (and other stuff like free healthcare) had no effect on the quality of people's lives then?
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