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Everything posted by Ed_Davies

  1. I struggle to understand the whole EU aspect of this, the government surely could just say that child benefits are only valid for children that reside in the UK, for everyone, not just immigrants. End of. I doubt that just because they lose their child benefits, they will suddenly bring their kids over to the UK. The attraction of working in the UK dissipates somewhat if they have to live as a family, paying huge amounts for accommodation in the catchment area of schools, putting kids in after school clubs, the higher costs of food and clothing in the UK, etc. etc. However, if they do then it creates a level playing field. Suddenly life in the UK might not be as attractive when they join the treadmill. Instead of living 20 deep in a shares house and sending all their money home, they'll be working to live, just like the rest of us. They wouldn't be able to undercut UK wages, that's for sure!
  2. Is self-perpetuating. Low inflation gives employers a reason for low/no pay rises (at least that's my employer's reason) which means flat wage growth, which means low interest rates. They need to use different metrics in their rate rise decision making or rates will still be this low in 10 years time, and so will my salary.
  3. Agreed, especially if you have to bring services (electricity, gas, sewerage, phone line) any great distance. A fortune spent before you even get out of the ground.
  4. I don't have too much of a problem with n-work benefits paid to people working in this country, wherever they originally hailed from. The money is taxed, sloshes around the UK economy, is taxed again, sloshes a bit more then is taxed. It's all a merry-go-round that benefits the UK. It's the idea of sending money overseas that I have an issue with. Why is child benefit paid for children who are not in this country? The logic escapes me? To be fair, I also believe UK pensions should only be paid to those who live in the UK. If people choose to move overseas in retirement then it should be self-financing through their own pension provision, not via the taxpayer.
  5. Any predictions when we'll see the FSTE100 at 5500 or 5000 or perhaps even 4500 for the more bearish among us?
  6. Sorry, I don't understand how your question relates to what I posted, or the subject matter being discussed?
  7. You seem to be suggesting that a recession occurs, ends, a recovery begins and then house prices crash. My view is that a recession occurs, house prices crash, a recovery begins and then house prices recover.
  8. Hand in glove. You can't have one without the other. Cause and effect.
  9. Haha, true. There will be a glut of high fat, high energy food supplies, then a famine. I'd better learn how to salt and pickle meat to survive.
  10. BTL is a great investment, right up until you have void periods or nightmare tenants who refuse to pay and refuse to leave the house. Say what you like about a portfolio of dividend paying shares, they don't need a mortgage, building insurance, gas and electrical checks, background checks for tenants, payments to state agents for finding tenants, new boilers, leaky roofs, blocked gutters, damp problems, repairs, wear and tear. They quietly sit there and pay dividends year in and year out with very little intervention. Perhaps an adjustment from time to time to remove poor performers and to match risk profiles.
  11. But then the crash happened, not only a crash but a Global Credit Crunch no less. Why didn't you buy then? I can understand your fears about redundancy, but you'll generally find that a house price crash doesn't occur in isolation from the rest of the economy, they happen when the economy is in trouble, so you'll always have job insecurity when you have a housing crash. They're hand in glove.
  12. Eh? Where have I castigated anyone for not doing what I have done?? I said to the guy who started the thread that it was an option and I answered some questions/comments. That's all. To be fair, if my answer is to 'buy a slum' (which it isn't) then your answer seems to be 'give up the dream and just moan about it instead' (which it also isn't as you've already said you bought a 'slum' and spent a year or so renovating it). don't understand why buying a renovation job is OK for me, OK for you, but you think it's not a potential solution for at least a few of the 'millions of young people priced out of owning their own homes'?
  13. I can't see rates rising much for years an years. Anyone who bought since 2008 may spend their entire mortgage lifetime at less than 4%
  14. Haha, it's become a bit of an obsession rather than just a hobby. What i'm trying to get across is that you don't have to go down the Homes under the hammer route, where you buy a house and spend thousands to get it ready in a month to flip or rent. You do jobs as and when you can afford to do them, you mend and make do and you gradually improve things until you end up with a palace. My main aim was to get out of shared accommodation, that's all I concentrated on. Having fitted kitchens and lovely white bathrooms with travetine tiles plays second fiddle, by a huge margin, to coming home and not wondering who the hell the person is stood in the kitchen making a coffee.
  15. I guess you don't buy a house with no bathroom then? Or just fit one when the council bloke has visited and ticked off his list. It doesn't take a day though to fit a toilet, especially if its a temporary thing while you sort out the rest of the house. One of my first skip dives was to retrieve an avocado coloured bathroom set someone had thrown away. Bathing in cold water was a bit rough until I sourced a combi boiler. I got one for scrap value because it was being replaced by a new condensing model, nothing wrong with it except it wasn't A rated.
  16. Unrealistic and difficult, yet in the next breath you say that's exactly what you are doing. You're not being forced to live in it, it was your choice to buy the property after all, but once it's finished you'll have the rest of your life to enjoy your hard work. Some people get things handed to them on a plate, the rest of us have to fight for it, but at the end of the day, we're the ones who appreciate what we have the most. I'm not superfit and definitely not rich. I was homeless for a while, spent some time couch surfing and a good many years sharing awful rental properties. I had no idea of how to renovate a house when I first started. I watched loads of youtube videos to learn. I also looked on freecycle and local boards for free tools, building supplies, etc. I got enough free plasterboard to do the living room. It's amazing what people are willing to give away if you are willing to rock up and take it off their hands. A lot of the large DIY chains have loss leaders in the their sales, so they're useful too. I'm not sure why you've been robbed of motivation and energy or why your life is a daily grind, but if I were you I'd look at how you remedy that as my top priority. If the grind is because you hate your job, then find another. You only have one life and it's gone in a heartbeat. Make the most of it. Maybe buying a house is a much lower priority than having a happier life?
  17. https://www.gov.uk/vat-builders/houses-flats
  18. As I said, the food and other survival supplies are all stored on a large box on wheels. I made sure that it wold fit in the boot the car. Depending on the emergency I can either choose to hunker down in the house or drag the supplies to the car and roll. Either decision can be acted on in minutes. I won't be running around the house trying to find torches, packing food and water. It's all there in one place. The food could probably be eked out for longer than a month if necessary, but for anything other than zombie apocalypse, then that will be sufficient. If society breaks down completely, then after 6 weeks of no food then those who haven't prepared will be weak and malnourished and so could be easily picked off and eaten.
  19. If they just fell 5%, they were 5% less than when he was originally thinking of buying. I dunno, it all sounds a bit 'iffy' to me.
  20. It's not worth the trade working on them unless they're a real mess because you have to pay VAT on renovations. Newbuilds are VAT free.
  21. Buy a family tent and pitch it in the living room of the property, make the roof and windows the first priority followed by the bathroom and kids bedrooms. The kids will love the experience of camping in the house and will remember it all their lives. A bit of 'hardship' in their early lives might prevent them from becoming part of the Entitled Generation.
  22. If you were getting close to buying before the credit crunch when prices were pretty much at their height, then why didn't you buy after the credit crunch when prices fell?
  23. I bought them from http://evaq8.co.uk/?gclid=COzr5f7izMkCFUKc2wodrFMPhA. There are other emergency supply companies and I have no vested interest in this particular one! It certainly wasn't cheap, but I have them now and so I can relax. I think that's the way to reduce your fears, prepare as much as possible and then relax knowing that if the SHTF you've done as much as you can. I keep the tins, water purifiers, windup torches and radio, etc. in a big waterproof box on wheels that I got in a sale at B&Q. It's all stored out of the way under the stairs. As I said, I'm not a prepper, thinking that society is going to end, but I do think that everyone should put supplies away in case of disruption. We were snowed in a couple of years back, that's when I realised the folly of not having a backup plan.
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