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Wilco

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Everything posted by Wilco

  1. Hi all, Does anyone know anything -- good or bad -- about Edenderry Lofts on Crumlin Road? There seem to be 4 flats for sale recently put on sale from there, ranging from £92,500 - £265,000 (for the penthouse). The lower price point looks to be good value for money, but it looks a bit curious why so many are on sale all of a sudden. Thanks.
  2. Hi all, Long time lurker here. I know the general consensus is probably a resounding "No" but each circumstance is different so if anyone has any thoughts on my situation I'd like to hear them. I've seen a 3-bed semi (built late 2002) in a local area for offers 'around £90k'. At the height of the boom some of these were going for around £140k. I know when these were new they were around £73k, but I was thinking if I could get in at around £80-£85k I'd take it. Rateable value is listed at £87,500. For a bit of background I've saved over £30k on the deposit so assuming an offer accepted at £85k, with 3% interest (Northern Bank) I'd be paying £263/month, and even at 7% interest it'd be under £400/month. To rent a similar house would cost £400-£440/month. In terms of employment, I make £33k a year and have been in full-time employment since graduating over 6 years ago. Business, in spite of the downturn, so far has been good. I have thought about this a lot, and I may be wrong here, but I think the government are planning to erode the debt through inflation, taking with it the value of my savings in the process. Any advice would be appreciated. Thanks.
  3. Did anyone catch the Nolan show this morning? Discussion with Jonathan Davis starts around 30 minutes in. You can listen again here: http://www.bbc.co.uk/radio/aod/networks/ul...ster/nolan_wed#
  4. I've noticed a lot of developers seem to be pushing co-ownership, and I guess it's tempting to own -- at least a percentage -- of a home for just over £100 a week, as the ads promise. It's undoubtedly targeted at FTBs as a means of getting on the ladder, and I guess, in turn, keeping the market churning. I've noticed that when you go for it though and want to increase your share, they sell it to you at its new current price based on their valuation. I've heard it said that a property is only worth what someone is willing to pay, so this seems a bit suspect. Also, what happens if house prices fall 15% when I go to increase my share? What about when I sell? Any thoughts on co-ownership would be appreciated. Thanks.
  5. I know of a 3-bedroom end of terrace house in Strabane that was sold late summer last year for £80,000. Two weeks ago it sold (within 3 days of the 'For Sale' sign going up) for £120,000. Although I recall that Strabane did move from 3rd to 8th on "Worst Places to Live in the UK", £40,000 in one year seems a bit overboard.
  6. Thanks for all the advice. I guess my job is as secure as any job is in this day and age. At the minute my rent is £400 a month, which I split. I'm pretty content with the area I'm living in and don't have any plans to travel the world or anything. It's just that when I see newspaper articles of increases of 30% I snap out of this analysis paralysis. If I sit on the fence much longer and prices continue up, I think I would struggle to find somewhere. I'm completely aware that what's happening across the border is nuts at the minute and I've read on here the situation across the water. Also, I don't think I'd have any issues with taking in a lodger. So the general consensus is that housing in the North is still value for money?
  7. Hi all, Long time lurker, first post here. Most of the posts seem to focus on house prices in England. I was wondering if anyone had any thoughts on the Northern Ireland housing market? I'm a 25 year old college graduate, potential FTB, been working full time for 4 years this summer. In the area where I live prices have gone up an average of 30% in the last year alone. An older friend of mine (29) is determined that property here is still on the up, as the province 'catches up' with the rest of the UK. Case in point is in the street where he bought a terraced house last summer for £80k, the house next door sold for £96k two weeks ago. I should have a deposit of £10k saved by June. My employment situation is that I'm currently on £22k but due for promotion next month which will take me up to somewhere between £27k and £29k. To anyone in the know I can find a decent FTB house for around the £100k mark, should I go for it? Thanks.
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