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House Price Crash Forum


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About sell2rent

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    HPC Poster
  1. I paid 800/sqm 3 years ago excluding land outwith the curtilage, but only 40% of the building was renovated, rest outbuildings. Rebuild cost was 2000/sqm including the outbuildings. So many factors, but it does give you a sense of value, or otherwise, of what you're buying, but on its own unless properties are otherwise comparable it can be blunt.
  2. Well done, am a year behind you, mortgage was due to be paid by September, but will need another year as I just bought a car.
  3. Scotland has a broad based economy with similar GDP per capita without oil to the rest of the UK, and a variable boost with it added and attributed to Scotland. My concern is the cost and instability of independence. It is disputed, but I feel investment and decisions are being held back in advance of a no vote, and then investment will pick up further. It is fashionable to pretend Scotland or the UK are basket cases economically, nothing could be further from the truth IMHO.
  4. http://www.housepricecrash.co.uk/forum/index.php?showtopic=166442&st=0 Very similar themes in my thread here, except you can see what has happened a few years later and how I would be seriously out of pocket had I held gold instead of a house. I already made money on the way up, on the way down and on the way up again. No matter what the future value of the house and land, it has intrinsic value and appeal to me and the mortgage will be gone in another 6 months whilst some are still talking about crashes and fighting for a safe return. By taking a flexible view on asset prices which varie
  5. Housing vs gold both priced in GBP since this thread started, as that is what the debate ended up being framed as. How often do people return to an old thread where a decision was made to discuss how it turned out? I always intended to, whether it turned out good or bad. It may yet turn out bad and I will update...
  6. Thought I would update this. Had I held gold instead of a house, I would be sitting on about £200-250k losses since this thread began. Main threat now is Scottish independence, that is one major screw up I hadn't seen coming, I think it will be no and we will see a Scottish property boom afterwards. If yes, I'm screwed.
  7. Two years on how have your predictions turned out? Policy interference in the market is what drove me to buying again. It seems to me that they will keep this market irrational long enough to shut out the majority of a whole generation or two from property ownership in many areas. I do not think that is a good thing, but I would rather be holding property than any other asset still, because the vested interests are still very powerful. Wonder how long they can keep it going?
  8. Nearly 2 months from moving, things are going well. Two bathrooms ripped out - I've learned to use a crowbar and am much fitter. Sheep are grazing the field. Workshop has been insulated and lined, studio floor sanded, lots of painting and work outside done before the winter. Plans being drawn up to make a nice lounge out of a 42 foot barn. Best of all I got out of stocks and gold in the nick of time it seems. I have no delusion I could promptly sell it anytime soon and quickly for what I paid, but then I could have lost in a few days in gold more than I hope to lose ever on this house, and am
  9. That is very true except a third of my income in the last year was in dollars, but gold has been the only asset class mentioned here as preferable to property which is why the debate narrowed down to it. Happy to widen the discussion to other asset classes, but all of them scare me as I said already.
  10. http://www.moneyweek.com/investments/property/gold-price-and-uk-house-prices-04909 Here we are. Green graph part way down the article. Scottish house prices measured in gold look like time to buy?
  11. The debate is reducing to gold vs housing, and that is the real question for many of us. I don't think owning gold is now the preserve of the tin hat/armageddon brigade, hence its massive rise in value, but it is nice that there is a divide of sentiment on gold and property because it makes a market. Should we look at average Scottish or UK house prices measured in ounces of gold and see how long you could be in a loss by being in one position or the other over previous cycles for each? I don't have the chart handy, but housing now looks very reasonable compared to 2006 measured in almost any
  12. The volatility of gold is of concern to me (it could just as well crash like oil did a few years ago), as is its massive bull run, how will you know when to exit? Every man and his dog want gold now, the press have picked up the mania, yet the view on housing is now quite bearish and there are deals to be had. Wasn't the time to buy gold over 5 years ago and now be thinking of exiting? Good luck in timing the peak. Historically if you mistimed the last gold bubble you still wouldn't have recovered your value when priced in other assets. In that context it looks like dubious inflation protectio
  13. I don't like the general housing market and never expected to buy so soon. I want to justify it as it is the biggest purchase I'll ever make. I'm going to put my calculator away after this, but if you take the purchase cost of the house, and subtract the building cost of an equivalent sized new build at £1000/sqm, I'm left paying £110k for a 1 acre plot on which it stands, with 2000sqft of good outbuildings I can play with. I don't feel stupid now I got my calculator out, and I'll be disappointed now if the missives fail before hopeful conclusion in the next few days.
  14. I have another arguments to throw into the ring. The rebuilding cost for insurance purposes is about 2.4 times the price of the house. I wish it wasn't as it could make buildings insurance cheaper. When I bought my first house in 1998 (a new build which just over doubled when sold in 2006, not as much as some, but for a new build in an overbuilt Scottish town, not bad), the rebuilding cost for insurance was about 0.8 times the price of the house. To me that is a combination of expensive rebuilding and professional costs for stone buildings compared to timber frame new build, or perhaps some
  15. I posted because the flow of information over the last few months has changed my opinion, and I thought it would be interesting to debate. It seems that some don't care that the individual deal actually appears to have some value. I always anticipated I would pounce on something when a realistic seller and tight credit conditions arose in combination, even though that would be ahead of the wider market. I'm actually scared of every asset class right now. It was that realisation that pushed me. I'm sorry if you feel that reading that opinion wastes your time. I may have only 100 or so posts,
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