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Maynard

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Everything posted by Maynard

  1. Excellent site, i've just signed up. being very nosey now!
  2. Having lived in Oz for 6 months, Aug 2003 - Feb 2004 (Perth). I'd be interested to know what exactly is happening there. I spoke to many people who had invested in BTL. One, in particular, had bought about 4 houses in a very short space of time. At this time, prices in Perth were still rising. I read somewhere that 12% of home owners in Australia had purchased a second/BTL property/ies. What is becoming of these investors, are prices coming down in WA?
  3. We live in the house next to the land (it is currently our garden!). We only purchased the land because we agreed a good price for the land (with outline planning) and the house. The previous owner had lots of interest in the land but not the house, and wanted to sell them together. If we sold the land, there is the chance that someone would build a four bed house and move in with their noisey kids, that would not be in line with the surrounding area. The thread was started simply explaining my situation, where I am divided between the bulls and the bears. On one hand, I am looking to get on the property ladder soon (but not quite yet) and on the other, my parents are building a bungalow, which i would love to see them make lots of money on. As I said, the land is not mine, the bungalow will not be mine to sell. I will be simply assisting, as one day I would love to do a self-build myself. My dad has previously built our last two houses (when I was young), and I think the idea of living a a house built yourself, whether it be absolutely everything or design and project managment, is brilliant. All the best. Maynard
  4. Yes, prices have been falling, but in my area, it seems that EAs are just taking the piss and putting HPs well above what they are worth. I have a friend (and his sister) who bought a 2 bed flat in June 2003 for 135k (it had prev been bought off-plan in Nov 2002 for 95k!) They now have had in on the market for 3months at 165k! I have told them they are having a laugh, but they will only listen to the EA. Personally, i think it's worth 140k max. Interest rates will come down and I think the market will stabilise. As I say, I was a bear!
  5. As I said, we will be doing the work ourselves and getting a few subbies in. Im a QS and the old man a brickie/construction manager, just finishing the extension on the existing house now! All the best, Maynard
  6. True, but we have only estimated it as 45k, so 50k is the top banana!
  7. Is it me, or are most people having a laugh on there or what? Sensible answers on a postcard please....
  8. We are building it to sell, as I say we are in the industry and will be doing a lot of the work ourselves and using subbies we are friends with. It will be complete probabally in about a year's time. If we see falls in HPs, i cannot envisage them falling 30% in 1 year. The cost including the land is estimated at 150k, so we'd need to see an approx 30% fall in that time to lose on it. In which case we'd rent it out rather than sell at a loss. In all seriousness, by what percentage do people REALLY believe HPs will fall next year?
  9. Unfortunately, the plot is not big enough. Also, in this area, bungalows are popular, we are aiming at the retired market. And for the price of a 2 bed bungalow, you could buy a three/four bed detached house. It is cheaper to build a bungalow. A house would also overshadow the garden of the house we live in.
  10. As a young man looking to get onto the property ladder in a couple of years (don't quite earn enough yet to get anything decent). I have been hoping for falls in HPs. However, my parents bought a plot of land in June (also bought the house next to it) and have planning for a two bed luxury bungalow (in Kent). We will be building to bungalow ourselves (father and I are both in construction) and the value in the current climate for a bungalow like this would be around £210,000. For this purpose I would hope house prices would rise a little or stagnate! Land say £100,000 Build say £50,000 Sell £210,00 Profit £60,000 My head is telling me we are in for falls, my heart is hoping prices will hold out for 2005/06 and then drop significantly after that to allow me to jump on board! Haven't posted much on the forum, but I am pretty addicted to reading it, keep up the good work guys!
  11. I thought it was a bit dodgy when the Courts store in Canterbury "mysteriously" burnt down a couple of months ago! It was the second Courts store in the City to burn down in the space of a year! Surely the insurance companies couldn't have been dumb enough to pay out!
  12. http://www.foxtons.co.uk/search?md5=71cd56...mit_type=search if anyone is interested.
  13. Being an ex ex-pat myself, i regularly look at this site, it can be quite entertaining at times. Keep up the good work Maynard
  14. Hi Everyone, I know this is a little off the topic but I was just wondering if anybody could recommend, from experience, any decent offers on ISAs at the moment. What are the best deals? Should I go for one linked to the FTSE100? Any info would be much appreciated. Many thanks Maynard
  15. ANybody been keeping an eye on the house property ladder featured in Brighton. I seem to remember a couple of weeks ago it was up at £275,000 on the rightmove website. Have just had another look and it has been reduced £269,950 and vendor will pay 2% stamp duty of the asking price! Sorry if this is old news to you guys. I just think it's quite funny!
  16. Really enjoyed the post Bruno, quite entertaining and on a more serious note, worrying. I don't pretend to know a great deal about how the economy works, but I know that this boom cant go on forever. House prices are just too high. I have to laugh when I hear people talking about how much money they have made on their homes and then taking all the equity out and buying Mercs and speedboats. I just hope if this all happens that I wont be out of a job, in the construction industry, it always suffers in recessions. Luckily im still only a trainee!
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