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Everything posted by exiges

  1. The Golders Green area, no I'm not the owner.
  2. In terms of a HPC, is this not good news ? Inflation = wages squeezed = HPC ?
  3. No, giving the same answer to different questions is spamming. Really Bruce, I thought you were more mature than that.
  4. I figured you'd say that. But ultimately it was not a comment about your personal circumstances, your vested interests or business interests. That's what I mean by personal comments. It was to do with spamming.
  5. This thread, on topic, 431 posts, 16000 reads, gets bizarrely dispatched to the troll forum without a word, but the "A380 wing crack" thread stays in the main forum..
  6. You'll notice I did: "If you can't cover those costs with the extra £180 (or £300 in my second example) saved a month then there's something seriously amiss. Insurance is only another £15pcm. " The latter example provides an additional 2.5% (£3600 of £142k) towards maintenance. Again that's without comparing the costs that renting incurs which haven't been acknowledged by the renters here. http://www.guardian.co.uk/money/2010/mar/13/letting-agents-hidden-charges and http://www.citizensadvice.org.uk/press_20090521 On this very website are many threads complaining about exorbitant letting fees.
  7. Because in those instances it's true. Must I only comment on a certain sector of the market ? Is this forum only for renters ? Both you and Bruce suggest the fact I now own a home as a reason for my stance, then how do you explain the fact I held the same view when renting ?
  8. Since you've read the thread you know of my reasons for moving, they weren't financial. That doesn't preclude me from commenting on the topic. Isn't one of the HPC mantras "FFS. it's supposed to be a home not an investment" ?
  9. Non sequitur, since my stance has been the same for a long while now. http://www.housepricecrash.co.uk/forum/index.php?showtopic=165195&st=0&p=3022809entry3022809 If you've run out of a defence, say so, resorting to personal comments undermines your argument.
  10. We had one landlord that lost his job and wanted back in after just 6 months, so our average tenancy was less than 12 months in a 3yr period. We also had a larger than average house to move. However according to ReallyMoving.com the average removal cost is £600, so if you had to move every 6 months, yep, £100 a month it is. But realistically, you could say £50 a month for the average home.
  11. But will be around to see it ?
  12. Really, that all you've got ? I'll consider my point proven. If you can't cover those costs with the extra £180 (or £300 in my second example) saved a month then there's something seriously amiss. Insurance is only another £15pcm. Not forgetting there are costs in renting too, such as budgeting for removals every 12 months (it cost us on average £100 a month over 3yrs) at the whim of the landlord, credit checks, agency fees etc.
  13. Here's another: Rent: £850 http://www.rightmove.co.uk/property-to-rent/property-32944507.html Buy: £142k http://www.rightmove.co.uk/property-for-sale/property-32877664.html £142k @ 4% is £470 a month, add £86 adjustment for HPI and it's still £300 a month cheaper to buy than rent that house.
  14. My bad, I've fixed the link now (it's http://www.rightmove.co.uk/property-to-rent/property-32944507.html)
  15. I provided one. Here it is again to save you looking: Rent: £695 : http://www.rightmove.co.uk/property-to-rent/property-32944507.html Buy: £130k http://www.rightmove.co.uk/property-for-sale/property-36551393.html Interest at 4% on £130k is £433. Repayment mortgage is £695. The annual HPI for Milton Keynes is -0.8% (source LAND REGISTRY) which equates to £86pcm If you're comparing renting vs. interest only + adjustment for HPI (ie. you're gaining no equity in either position) that property is £180pcm cheaper than renting. As for the old chestnut of "repairing the boiler" costs, £12 a month to EON insures it. There's little point comparing renting with repayment, since you're rent increases over the 25yr term with no equity vs increased equity, .
  16. Indeed, there are some "bargains" (relatively speaking) to be had at the higher end of the market, in terms of renting. The main reasons are that a) They tend to be reluctant landlords or overseas-working landlords, desperate to get some money in. Professional landlords wouldn't even consider such properties. b ) Renters don't necessarily want a big house, it's a vanity, when they can rent a much smaller house (same number of bedrooms) before moving onto their purchased property. We went from owning a large house, to renting a small house (stuff in storage) to owning a large house, we couldn't justify spending a rent premium on a large house. Just out of interest Count, do you have examples of "averagely priced" houses and their rentable value ?
  17. Not at all, I just wasn't sure what point you were trying to make since we'd covered the topic of diminishing yields earlier on in the thread. "Most people" are going to be buying in the £160k range, as that's the average house price. It doesn't seem right to use high value houses or special deals done with an amateur landlord to argue a case for the market in general.
  18. This has been covered already in this thread, namely the more expensive the house, the lower the rental yield. For "the average house" however, circa £166k, things are quite different. I'd be very surprised to see a £166k house rented for the same yield, ie. £310pcm.
  19. 25% of the average house isnt £100k
  20. Yep, my mother in law is in one. If you go around the villages of the Claydons (Steeple Claydon, Botolph Claydon etc.) you'll see houses with light blue eaves and front doors, they're all owned by the same estate management company. It's not an housing association etc. Here's a STREETVIEW of one. If you continue, you'll see another on the other side of the road.
  21. Maybe... I can't imagine the rental market is solely populated by amateur/reluctant landlords. It makes you wonder why the institutional landlords didn't sell up given they have large portfolios and stand to lose millions. I know some have sold up, but they do that during a boom or bust.
  22. You know you're destined to buy that place don't you ?
  23. It really does make you wonder why so many businesses are foolish enough to rent out properties when their money would be better off earning them interest in the bank or invested in gold, especially given what little rent they receive for the value of the house, and the high costs of maintenance.
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