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House Price Crash Forum


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Everything posted by shifty_FTB

  1. been looking at houses over the last 2 years, bought in september, and generally the bottom of the market in belfast (2/4 bed terrace etc) hasnt really changed in price over the last year. the houses that came on st or that were reduced to under £80k in east belfast over the last year for example had generally been a mess and in need of much refurbishment and work. I havent noticed this 12% drop in prices not sure when the housing bubble began . . . . but i paid 85% of what the house sold for off-plan in 2004 . . . . whether or not that would equate to its supposed value in 2002 i dont know . . . and was it a good deal . . . hmmmm
  2. a lot of houses in belfast have oil even though they can be connected to the main gas line for free, its dueto the fact that the oil heating was installed before gas was available or before phoenix gas offered free connection. colleague recently had oil changed to gas, had new piping installed, few new rads, gas boiler, and cost about £2.5k only
  3. South and East would be the best place to buy, but if studying best to stay in the south, close to the university. seller pays the commission. terrace is, well a terrace. townhouse can be in the form of a terrace or semi detached, the terrace types are usually 3 floors and will have a drive way at the front, and possibly a garage on the ground floor if its a 3 storey build. shop around for fees, but cheap isnt always best as they might be slow. i used cleaver fulton & rackin, based near the university, and completed in a few weeks, cost about £1000. if paying cash for a house you just need to pay the full amount a few days before agreed completion date, completion date is day you get the keys here
  4. didnt mention that the people i know who rented there and had their property vandalism and where subject to abuse and intimidation are european and asian, plus its were the romanians were forced out the other year. a lot of racism and hatred towards foreigners there lots of areas get "redeveloped" in belfast but it doesnt make them better, all they do is rehouse those living in substandard housing in the same area, then knock down the old and build new, and tends to be very slow as they cant do anywork till everyone in the street has moved, which isnt easy to do as some people can be stubborn and refuse to move. It will still be the same people living in the area. good buy if you want to rent it out, but i wouldnt want to live there
  5. are we talking about the same place? just off the lisburn road, either side of tates avenue or the streets between tates avenue and dublin road?
  6. i wouldnt live there if you paid me. had friends renting in different streets in the area and they couldnt get out quick enough. smashed windows, attacked in street, car vandalised etc plus traffic between 3pm and 6pm is wild. theres a reason why the terrace housing there is cheap and not selling
  7. wrong calculation, change house value to 60k with 8k deposit you put house value £52k with 8k deposit, meaning you are borrowing 44k
  8. he probably went for the cheapest installer he could find, and possibly used the boiler swappage scheme, which cant be used if converting from economy 7, also installer cost differs depending on how far away you are from the gas line, its free connection from phoenix gas up to £750 worth only. For a house that size you will need a really good condensed boiler, could go cheaper but wont heat house as quick and pressure would be lower, its one thing not to skimp on. i'd advise you to go and view it, seen many like this when looking, looked ok in photos but in obvious need to repair, walls ceilings etc. plus many small things add up, which you could do over the years, but it still adds up also for a FTB it could easily cost 2K to decorate and funish each bedroom, thats if you arent into flatpacks
  9. well i saw quite a few, and the ones similiar size and age around the BT8 area were a lot worse that the photos made out, many needed structural work adn to be damp proofed. gas install could easily reach 8k on a house this size, will need rewire was likely, could easily reach 6k no doubt the purchaser will want to replace the bathroom and kitchen, could be done cheaply but not everyone wants a 1k bathroom and know how to do the work themselves, so could easily be anoth 10k for bathroom and kitchen. so theres 24k already, without replacing the horrible carpets, and removing what could be woodchip paper from the walls and ceilings, replacing radiators. costs could easily spiral up
  10. cost 40k probably to modernise it, bringing it up to RV. many like this 25% below RV but only because they need a lot of work done
  11. i really doubt people who bought in 2002 are sitting on negative equity. im buying a house for £114,000 sold off plan in 2004 for £135k and was completed in 2005, so house 7 years old. maybe that house would have been worth £114k in 2002, but thats probably an exception
  12. what is S.O.P? Since universtiy starts late sept why would people rent from 1st July, never heard of a student let being 12 months, always 9 or 10, then if same group want to stay on for a second year they sign a new contract for 9/10 months and if you want to stay during the summer months or return early then you pay for the extra weeks. students would just avoid a student house where landlord expected you to sign for 12 months, student landlords expect the house to possibly have no income for 2 months, which is ofset by the higher rents recieved from students, for example a 4 bed terrace may rent to a family for £500 a month (6k a year), or £1000 a month to students (10k over the 10 months)
  13. http://tomtdowling.files.wordpress.com/2011/05/ghost-estates_2.jpg
  14. people seem surprised by that development in Downpatrick, northern ireland.... jump on the enterprise train at belfast, as you approach Dublin city on both sides of the train you will notice ghost estates, loads of then, tonnes of flats and appartments empty, probably not completely finnished, built way in the outskirts of the town away from everything else
  15. university doest begin until last week in sept for 2nd/3rd years, and thats just registration, finishes early June, so most student houses are contracted to 9-10 months. 8 years ago mine was paid each term, so 3 payments, worked out around 40-45 a week
  16. 7.8%, student let, usually let 10 months of the year. it will be 9 students contracted to individually pay £368 per month. not many students will want a house with 8 others, too many problems can occur, so will stuggle to rent out ifv theres an abundance of student rentals
  17. The vendors tell us that the tenants are to remain until 30/06/2013 and will be rented at £3,314.97 per calendar month from 1st September 2012 to 30th June 2013. above means its a student rental, usually only guarenteed rent 9 months off the year. seen a few this size in belfast, 10 or so bedroom terrace houses, but 3 floors, priced well under 150k. doubt next student year you will get that much rent. hard to get 9 people to share a student property, plus looking at it i bet its a shit hole inside
  18. A LOT WRONG WITH THAT STATEMENT Falling house prices can wipeout all equity preventing you from moving upwards in the housing ladder
  19. PAY RENTAL A YEAR IN ADVANCE, brings it down to £10.75 a month Didnt know that there are NO savings for paperless bills, so when i change to BT when i move house I might as well get the paper bills sent out since there are no benefits in e billing
  20. ha ha she's following this thread, the thread you linked to has now been deleted at the OP's request, for a privacy reason
  21. the house im actually agreed on i think is around 18% under RV, the main reason why i'm buying now and the fact that people use the road infront of the house i rent as a through-road and speed down it. had whole passenger side of car damaged recently
  22. rented same place for last 7 years, times landlord has been here = 5, 4 times to renew contract, once to replace float in toilet cistern, so £20 maintainance cost in 7 years, house worth more than landlord paid in 2004 what £100k homes rent for £4k a year?, here its £6k
  23. i first agreed at 80.7% of RV but things are dragging so agreed on another property at 84.44% or RV, cant see RV - 20% being the accepted norm next year, people will just stay put, especially if RV - 20% would wipe out a lot of there equity preventing them from getting another mortgage
  24. yeahh, as if 1 million BLT properties will come up for sale, everyone squatting
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