claire

hmmmm well placed for access to the M1 lol.....now what could that mean!

Well if they lost their jobs (its been suggested that Kent based manufactuing companies are in trouble) or interest rates were too high they would be in trouble. If something happened and they needed to sell, they would again have a problem. And even if this didn't happen, it still affects people psychologically in the sense they know they are paying for something that isn't covering the amount its worth and also the feeling that they are trapped. It can be quite damaging. As someone mentioned earlier on in the thread, last time, people in kent were literally posting their keys into the Building Society. I hope no one has to go through that again.

An major factor as to why I won't be having kids soon is that my mum would beat me round the head if I dared make her a grandmother before she was 60! So 10 years at least before I reproduce!

Well if the crash was more then 30% then my friends would be in negative equity, which isnt a nice thing. Luciky family have backups in the sense of major inheritance, small mortgages etc, but my friends who aren't teachers and have property are in jobs you would consider "unstable". I know the majority would say it serves them right for buying at the wrong time, but it still feels wrong to wish it upon them.

Thanks so much for all your replies - was shocked to see how many! You all sound really informed and after talking to my parents I will definitely wait at least until September as some people suggested to make my decision. It does sound like things are stagnating a bit here in Medway. Next door to my parents was up for £150,000 but they had to to wait 12 weeks and drop it £5,000 to get a sale! Saying that, the one two doors down took 3 days to sell at £140,000. As for area Burnt, deffo not Luton! I remember when houses were about £20,000 there LOL! Im looking more at the roads that are named after first names in Rochester ie Catherine St, Rose St, Richard St etc. Also a lot of places in Strood seem to be in the right price bracket but I never really ventured into Strood as most of my friends are based in Rochester and Walderslade so that is somewhere to investigate. Its a confusing area as it has factors both for and against it. As people have said though, Im paying a very small amount of rent, saving a bit each month. If I can do this for a while then its no bad thing. For the person who asked what I do, I basically run the office and the lives of people who get paid far too much money but have little to no common sense!!!! But really, I worked hard to get where I am today! Whilst my friends enjoyed Summer Holiday's, as a child, my mum sent me to computer and typing schools to learn extra skills! I won't get any further career wise, but I am happy where I am for the time being!

I remember that too albeit I was very young and I remember my parents talking about it. That said though if things are heading towards a crash, will it be a crash on par with the one in the 90's or less of one? If I were to get something for less then £105,000 at auction for instance would that be worth it? And will something like the new high speed rail link to London have a positive effect on Medway? Thank you!

Thanks so much Brassfarthing.....It would be for the long term as somewhere to live. Obviously I cant comment on future husbands, children etc as they are the last thing on my mind at the moment, but like you said, I would like somewhere of my own instead of tip toeing about in my parents house. For example, I recently had to repaint but felt obliged to ask my parents first about what colour I should have. It was little things like these and watching my friends buy houses that instigated the idea. Like I said though, they had incentives like a £50,000 interest free loan and 4 x mortgages etc but I wouldn't want to get too loaned up. Also one friend bought her house in October of last year for £119,000 and now the majority in her road are priced at £125,000-130,000 so I was thinking that maybe prices may continue to rise here with the new high speed rail link to London coming in. Thanks again Brass farthing, I think buying might be ok especially as I am in it for me and not for investment!

lol nice idea.....but I think they might notice when they do their regular Sunday morning "Have you got any tea bags Claire?" knock on the door!

Hiya! Im currently live just outside Rochester in Kent, renting for a very minimal amount (£300 a month) off my parents who live in the same road. Work is a half hour drive away. So its a nice set up but Im coming up for 24 and Im getting that feeling I should be getting onto the property ladder. A few of my friends have and I was thinking if they have done the right thing or not. They are teachers, so have had quite a few incentives thrown their way. Based on my salary, I could get a normal mortgage (ie 3.5 times salary) for £112,000 and I have £15,000 in deposit. Therefore looking at properties for £130,000 in Rochester, there are quite a few 2 or 3 bed victorian terraces. Now these are generally flying off the market within days if they are already done up. I know there are some auction bargains to be had as well. Now what do you think I should do. In my situation, would it be ideal to buy or should I hold out with my minimal rent and continue saving in the hope of a crash? I hate hoping for a crash though because that would be awful for friends and family.

As disillusioned has said, you have to like a good crack den to appreciate some places in Hastings and also, if this is the same one I was sent details about, it had 19 years left on lease!

Hiya! I only work in Kings Hill so can't comment fully on what its like to live there. As you must know, its mainly detached new builds and luxury apartments. It was originally created to have a feeling of a town on its own with shops and businesses so that workers would want to live there. Generally its made up of a very big mix of people, ie local people who have done well on the property ladder and wanted to move into something more "up market", there is also a few London commuters as well as professional workers who work at Kings Hill. Its a nice mix with a lot of very good local ammenities. You really just have to love newbuild living, if you have any fondness at all for character then its not for you!