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Posts posted by Ed_Davies

  1. In some ways they even save the state money. Some people moan that child benefit is going to children living Poland, so what if £1040 goes to Poland where the child is living and being educated? As the average school budget in the UK is £4550 per pupil they are saving the British taxpayers £3500 by not having them live here.

    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. I looked at land once too. Crazy expensive.

    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. You are such a meanly :P

    To fairytale, I'm guessing Si1 would be looking towards shares and bonds or maybe selling old tat on ebay! :P (man, those postage costs really dent your margin!) There isn't really many good income producing assets at the moment as ZRIP has distorted everything! Even shares look a bit toppy but remember that even in falling market you will still find good companies that will do well, so seek them out!

    And of course... there is always BTL! :P

    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.

  6. But that would have been by borrowing and paying more than I wanted to but got to the stage where I thought a crash would never happen (I remember predictions on TV of a house price correction in about 2002).

    Also did you miss this bit?

    Went through several years of hell, a steady drip drip of people being made redundant and wondering when if I was going to be next. It even got to the stage of formal redundancy letters, only for something to be pulled out of the hat. Eventually got a new job and left (I was actually hoping for redundancy as it would have added a few quid to the deposit)

    That of ignores the bit where (before the work situation got bad) I was letting house prices fall - I thought they were well overpriced then and still do now. Why buy a house now when it might well be cheaper in a few months time?

    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.

  7. Unlike yourself, I am not projecting my own life onto my outlok but the observations of popular culture and its trends. When millions of young people are being priced out of owning their own homes, it is not their fault. If your answer to that is buying a slum and doing it up, then you are asking the wrong question.

    I have respect for those who are able to do it but castigating those who cannot or have not is wrong.

    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'?

  8. I have to say I'm impressed. That would have to be classed as part-hobby the way you're waxing about it:)

    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.

  9. Reduced council tax or any other reduced tax feels very good, however, how do you live in a house without kitchen/bathroom? Will the lender deem it as habitable?

    Kitchen, I can do with microwave/fresh meals(salads/fruits) but bathroom? What do you do if your kid has a stomach bug and needs loo trip in the midnight?

    Reduced council tax or any other reduced tax feels very good, however, how do you live in a house without kitchen/bathroom? Will the lender deem it as habitable?

    Kitchen, I can do with microwave/fresh meals(salads/fruits) but bathroom? What do you do if your kid has a stomach bug and needs loo trip in the midnight?

    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.

  10. That is completely unrealistic for precisely the same reason we’re not all super fit yoga freaks eating freshly prepared food every day whilst earning substantial extra income from our hobby businesses. Modern life is a daily grind of box ticking obligations leaving a sliver of time available to pursue other priorities when you’ve ironically been robbed of the motivation and energy to use it so follow the path of least resistance. That’s just human nature.

    For most people, having the time, energy and money to learn the skills necessary to complete a renovation on a reasonable timescale is even more difficult than their ability to earn the money to pay someone else to do it. The fact you have been able to shows that you are extremely capable but most people aren’t. And even whilst you can, it is far more difficult for you to do this than in recent history and that is the problem we’re upset about. You’ve won the lottery and you didn’t even know that you bought a ticket. I’ve got 2 young children and we’ve spent the best part of a year renovating a property and lived in most of that time. This should not be how people are forced to live.

    That hasn't helped the luckiest generation who ever lived, has it?

    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?

  11. If food supplies to the masses are actually disrupted properly, not just a couple of days snow, you will not be helped much by a box of food under the stairs. It will give you the calories to fight your way to the car and make a run for a remote area with a water supply maybe, but you wouldn`t want to be holed up in your house. In a proper breakdown the first thing that will go is the internet, so that is the cue to go into survival mode IMO, but how far you will be allowed to travel would depend on the type of emergency and whether the forces of law and order/security are still operating? But yes I agree that a months food and a couple of months worth of cash to hand is a good idea. Probably the best thing we can all do is create community, that will be useful in any major emergency.

    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. ;)

  12. You can buy them at auction too

    More seriously, all the doer uppers I've seen don't look worth the doing up effort, reflected in the fact that amateurs buy them rather than people 'in the trade'

    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.

  13. And the wife and kids?

    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.

  14. I have to admit I'm getting close to the point of giving-up and buying, my only hope is that the last time I nearly bought was just before the credit crunch.

    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?

  15. Where was that from if you don't mind me asking (if UK)? Can't PM as you're too new!

    I've been thinking about stocking up but tins are so bulky and they rust.

    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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