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You have enough money to buy somewhere for your family to live in a place you want to be with no debt. Who cares what happens to prices after that? Just do it, make your wife and family happy and never come back on this site again. It's of no use to you.

For goodness sake live your life and be happy, not like most of the miserable dreamers on here.

:rolleyes:

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Clearly I have offended you (and others) in some way. This was not my intention - yes there are some 'less than perfect' components to my plan.

However, our indecision has been fueled by the recent dearth in properties that could even remotely be described as being good value for money in SE .

maybe im just really sh1t at looking for property...but i foolishly keep looking at things like the quality of the brickwork , roof, general condition...rather than blindly accepting the EAs guff about ' up and coming area....very desirable location...better get an offer in quick...' .....

On the other matter....

I am not mocking 'manly' trades....I just feel that HPI has created a situation where engineers and scientists (with their potential for wider wealth creation) are

remunerated significantly less than individuals who fix things in your house and can charge the earth to do so......

.......

Im not a rocket scientist (but quite close...and have been a systems engineer in aerospace in the past)...I do know several PhD rocket scientists....all get paid less than 40k pa....after up to 10 yrs of work...

cheers

That's not a direct consequence of HPI, rather, it's simply how the labour market works.

In the book Freakonomics they put it this way: "...As for demand? Let’s just say that an architect is more likely to hire a prostitute than vice versa".

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That's not a direct consequence of HPI, rather, it's simply how the labour market works.

In the book Freakonomics they put it this way: "...As for demand? Let’s just say that an architect is more likely to hire a prostitute than vice versa".

Is it.....? not sure....probably ...but may be it is also influenced by :-

1. the fact that tradesmen who offer services and products to the home owner have ramped up prices in the last 10 yrs (e.g. hourly rate) ...possibly justified/supported by the supply of cheap credit and rampant HPI....

2. the lack of any effective union / institutes etc...to protect / promote the value of scientist/engineers....

i dont know though....and I am no economist....

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let's look at this situation without the envy goggles.

iron chic has more than half a million quid to spend, and it still won't buy him a home near where his wife has friends, and prospects of work.

so he moves elsewhere in the hope of finding somewhere to buy, but now his wife is on anti-depressants (not working, mate-less, isolated in an unfamiliar environment - you can see how it happens).

he knows buying a house in that area won't make his wife happy...so he can't quite bring himself to buy a house in that area.

i'm thinking you need to rent, in an area where you're happy living.

if your wife genuinely wants to live in the house on the wirral that you're considering, offer £499k tops. who the hell pays 10% over the odds for the privilege of paying 3% stamp duty?

btw, i'm a northern girl originally, and i can tell you the area is broke. if you don't make money with drugs (NHS doctors and surgeons, or more frequently, dealers) or football, you're f*cked. i've seen two private schools close down and one go into a goverment scheme in the last 18 months alone. the whole economy of liverpool seems to be run on tick - and that timeframe coincides with 22% interest rates on credit cards.

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let's look at this situation without the envy goggles.

iron chic has more than half a million quid to spend, and it still won't buy him a home near where his wife has friends, and prospects of work.

so he moves elsewhere in the hope of finding somewhere to buy, but now his wife is on anti-depressants (not working, mate-less, isolated in an unfamiliar environment - you can see how it happens).

he knows buying a house in that area won't make his wife happy...so he can't quite bring himself to buy a house in that area.

i'm thinking you need to rent, in an area where you're happy living.

if your wife genuinely wants to live in the house on the wirral that you're considering, offer £499k tops. who the hell pays 10% over the odds for the privilege of paying 3% stamp duty?

btw, i'm a northern girl originally, and i can tell you the area is broke. if you don't make money with drugs (NHS doctors and surgeons, or more frequently, dealers) or football, you're f*cked. i've seen two private schools close down and one go into a goverment scheme in the last 18 months alone. the whole economy of liverpool seems to be run on tick - and that timeframe coincides with 22% interest rates on credit cards.

Thanks...sensible stuff...especially re: local knowledge.

not paying 10% over the odds...but i hear the wisdom of buying below 500K threshold...

all these things are making me re-examine this decision...

(problem is though my other half won't move to another rental...she feels we are loosing pace with market and does not believe there will be more reductions)

As far as the envy thing and some of the comments i have got,

Im really not bothered... im just trying to do the best thing for my family's future

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nice....

Billions of people on this planet face a daily struggle just to survive , some have to walk miles everyday just to get fresh water, others have to do backbreaking work for upto 14 hours a day for subsitence wages to support children.

Some of the poorest people i have met are very happy and would share thier last meal with you.

Closer to home many people with young families are losing thier jobs , homes ,many others exist on poor incomes and will never be able to buy a home of thier own. People have children with downs sydrome , cerebal palsy etc etc these conditions are for life they face challenges everyday.Some women cannot have children of thier own.

Your wife has a husband she apparently loves, two children and 500k in the bank, the only cloud on the horizon of her privelidged life is that she is living in rented property at the moment, this blights her life so much that she becomes clinically depressed and needs to poison herself with antidepressants just to function.She must truly be a spoiled brat who needs every aspect of her life to be perfect, she is in a very privelidged position and obviously has no empathy for the plight of others who are less fortunate, she needs to change her perspective on life.

You will probably buy a 600k house and she may even ditch the happy pills for a while, then the house will fall to £300k over the next 5 years and she will become "depressed" again.

Every setback in life ,things like cannot get a place in her preffered school for her little darlings will become huge issues leading to more depressive episodes.

Your wife has bigger problems than not owning a house, she will never be content FACT, she is the kind of person who gets upset by the builders leaving a bit of dust while having a fabulous £100k extension built, people like this always focus on the negative in thier lives.

Good luck finding contentment with this person ,you gonna need it B)

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However, our indecision has been fueled by the recent dearth in properties that could even remotely be described as being good value for money in SE .

maybe im just really sh1t at looking for property...but i foolishly keep looking at things like the quality of the brickwork , roof, general condition...rather than blindly accepting the EAs guff about ' up and coming area....very desirable location...better get an offer in quick...' .....

Get a piece of land and build something then.

Some of the new German prefab systems are brilliant and can be completed in about 3 months with all the finishing.

My mate is having one built here in Geneva, 195m2 plus a 90m2 basement, all completed and finished for about 300,000 Euros.

Low energy consumption, heat recovery ventilation system, underfloor heating with a air-water heat pump, solar water-heating panels, etc etc. I've seen a similar property, they make most UK houses look really crap. You can choose exactly the layout you want.

He's lucky and got the land cheap from family, but with a pot of 550k GBP you could do this easily in the UK.

It may not be the case in reality, but your posts do leave the impression of someone lacking gumption. That said, if I had a wife on antidepressants I'd probably lack gumption as well, that kind of thing is paralysing.

I assume that as a scientist you don't lack brains - start using them!

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Thanks...sensible stuff...especially re: local knowledge.

not paying 10% over the odds...but i hear the wisdom of buying below 500K threshold...

all these things are making me re-examine this decision...

(problem is though my other half won't move to another rental...she feels we are loosing pace with market and does not believe there will be more reductions)

As far as the envy thing and some of the comments i have got,

Im really not bothered... im just trying to do the best thing for my family's future

Leave the country. Seriously. What are you doing here? I'd kill to be in your position. You are a scientist/engineer and should be able find work abroad. 550k will buy you a palace in many countries with money left over for healthcare, schools etc etc.

I'd do some serious research into the possibility of living abroad. There are places in this world where you can live like a king on peanuts.

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Billions of people on this planet face a daily struggle just to survive , some have to walk miles everyday just to get fresh water, others have to do backbreaking work for upto 14 hours a day for subsitence wages to support children.

Some of the poorest people i have met are very happy and would share thier last meal with you.

Closer to home many people with young families are losing thier jobs , homes ,many others exist on poor incomes and will never be able to buy a home of thier own. People have children with downs sydrome , cerebal palsy etc etc these conditions are for life they face challenges everyday.Some women cannot have children of thier own.

Your wife has a husband she apparently loves, two children and 500k in the bank, the only cloud on the horizon of her privelidged life is that she is living in rented property at the moment, this blights her life so much that she becomes clinically depressed and needs to poison herself with antidepressants just to function.She must truly be a spoiled brat who needs every aspect of her life to be perfect, she is in a very privelidged position and obviously has no empathy for the plight of others who are less fortunate, she needs to change her perspective on life.

You will probably buy a 600k house and she may even ditch the happy pills for a while, then the house will fall to £300k over the next 5 years and she will become "depressed" again.

Every setback in life ,things like cannot get a place in her preffered school for her little darlings will become huge issues leading to more depressive episodes.

Your wife has bigger problems than not owning a house, she will never be content FACT, she is the kind of person who gets upset by the builders leaving a bit of dust while having a fabulous £100k extension built, people like this always focus on the negative in thier lives.

Good luck finding contentment with this person ,you gonna need it B)

These comments are over the top and personal ...and a little presumptuous. As with most things, the situation is more complex than can be expressed here..

However, you seem certain that you know whats what....including a statement that houses will half in value over 5 yrs...frankly, i hope you are right....for the good of the country as a whole....the fact is though....you dont really KNOW

...please try to be a bit more measured in you argument.

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Get a piece of land and build something then.

Some of the new German prefab systems are brilliant and can be completed in about 3 months with all the finishing.

My mate is having one built here in Geneva, 195m2 plus a 90m2 basement, all completed and finished for about 300,000 Euros.

Low energy consumption, heat recovery ventilation system, underfloor heating with a air-water heat pump, solar water-heating panels, etc etc. I've seen a similar property, they make most UK houses look really crap. You can choose exactly the layout you want.

He's lucky and got the land cheap from family, but with a pot of 550k GBP you could do this easily in the UK.

It may not be the case in reality, but your posts do leave the impression of someone lacking gumption. That said, if I had a wife on antidepressants I'd probably lack gumption as well, that kind of thing is paralysing.

I assume that as a scientist you don't lack brains - start using them!

thanks for these comments...yes you are right...we have had a number of changes in circumstances (changes in jobs, kids etc..) that have led to a ' stuck in the headlights' fear. Maybe a lack of direction ....not sure if its gumption....we have just developed a negative attitude...that need to be broken.....i.e. what ever we do will be the right thing.

Did look into German steel and glass houses (i.e. HUF).....really expensive..+ dont know where to find a good/cheap plot with planning permission....

thanks anyway

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Hi,

I am 39 with 2 kids. I have been renting since 2005 and a fair sized pot now to buy something (550k saved).

My wife is at the end of her tether (on anti-depressants) because she desperately wants a home and keep resisting.

I was always happy renting and having the flexibility to move and buy little toys / gadgets now and again etc...

Although I know its not the optimal time to buy a house, we have just had an offer excepted on a sea front property on the north wirral coast.

I know this may be a little rash and have considered:-

1. Coastal flooding and extreme weather events

2. possible tsunami (both physical and financial)

3. Near Liverpool (i.e. not prosperous SE)

4. The house is expensive...it cost more than everything we ve got (i.e. borrowing a little 50k )

However, it is near my family and has great views and potential to provide a happy home for the family...

+I am sick of wasting time looking for a house on bl**dy rightmove and talking to greasy EAs...

Other than any general abuse for going through with this, does anyone have any constructive criticisms or thoughts...?

thanks

I think there are bigger issues here that you have totally avoided because frankly your post doesn't add up at all, but I will continue as if your post is genuine.

I don't want to offend you, but you seem totally self centred. Your poor wife is on medication (for heavens sake) through the need to nest and your poor kids are not being given the opportunity to settle properly and feel that true sense of security - not because of your financial situation but because of your greed (in case prices should drop further!).

YOU are lucky and you don't even show appreciation for that. There are many many people out there who don't have a CHOICE! Yet by the sounds of it (as YOU are happy), you'd rather continue to rent , just in case prices drop further and so you can carry on buying your little toys and gadgets! How old are you exactly!? Oh wait...39!!!!!!!!! Time to grow up and take responsibility.

Living by the sea, having your family nearby and a happy wife and kids should be ALL that really matters to you! I'm sure you would have happier memories of this life, than the one you currently have! You shouldn't even be on here!

Edited by Moo!
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I think there are bigger issues here that you have totally avoided because frankly your post doesn't add up at all, but I will continue as if your post is genuine.

I don't want to offend you, but you seem totally self centred. Your poor wife is on medication (for heavens sake) through the need to nest and your poor kids are not being given the opportunity to settle properly and feel that true sense of security - not because of your financial situation but because of your greed (in case prices should drop further!).

YOU are lucky and you don't even show appreciation for that. There are many many people out there who don't have a CHOICE! Yet by the sounds of it (as YOU are happy), you'd rather continue to rent , just in case prices drop further and so you can carry on buying your little toys and gadgets! How old are you exactly!? Oh wait...39!!!!!!!!! Time to grow up and take responsibility.

Living by the sea, having your family nearby and a happy wife and kids should be ALL that really matters to you, as you are in a financially secure situation. I'm sure you would have happier memories of this life, than the one you currently have! You shouldn't even be on here!

what do you mean...what is the criteria by which you qualify to 'be on here'

this is genuine post...clearly not explained very well...

to clarify....I am 100% behind buying a family home for their security and quality of life - not interested in drops in price (just not sure exactly where this should be - ).

anyway thanks

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thanks for these comments...yes you are right...we have had a number of changes in circumstances (changes in jobs, kids etc..) that have led to a ' stuck in the headlights' fear. Maybe a lack of direction ....not sure if its gumption....we have just developed a negative attitude...that need to be broken.....i.e. what ever we do will be the right thing.

Did look into German steel and glass houses (i.e. HUF).....really expensive..+ dont know where to find a good/cheap plot with planning permission....

thanks anyway

These people are building my mates house in Geneva. Excellent value when you see the quality.

http://schwoererhaus.eu/en/index.php

Plots can be found if you look.

This isn't strictly a plot, but it caught my eye. You might get permission if you use your imagination there....

http://www.rightmove.co.uk/property-for-sale/property-27675617.html?minPrice=50000&maxPrice=60000&displayPropertyType=land&radius=10.0&oldDisplayPropertyType=land&includeSSTC=true&_includeSSTC=on&pageNumber=1&premiumA=true&fromSummary=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E557%26insId%3D1%26radius%3D10.0%26displayPropertyType%3Dland%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D50000%26maxPrice%3D60000%26retirement%3D%26partBuyPartRent%3D%26maxDaysSinceAdded%3D%26includeSSTC%3Dtrue%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D82%26y%3D20

Oh, and best of all, it's a long way from Scouseland.

Edited by gleeful_expat
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We are in a similar situation to you, apart from the depression. Made our money on doing up houses at the weekend (aka "property speculation") funded by my six-figure City income and his rudimentary DIY skills. Got a bit more than you stashed in the banks to play with. My point is that we are also looking for a home by the sea, and we could also buy a fairly large house mortgage free, and we are also under 40 with a hopefully long life ahead.

My advice is go for it, subject only to the flooding issue. Looking for a home by the sea down here brings in coastal erosion issues - I would not buy a beautiful house on the clifftops here without an expert survey assessing likelihood of cliff collapse in the relevant location within the next 100 years. I think the same point should apply to you in your own context. You don't want to find that no lender would offer a mortgage on your house when you come to sell in 30 years' time.

We (and you) have the money to buy with a small or non-existent mortgage, in which case the argument as to whether or not there will be another 10 or 20 % drop in prices over the next 2 years is far less relevant. If the right house came on the market tomorrow, I would buy it. (My problem is that not alot has been coming onto the market for an awfully long time - our "potential sellers" are people with no mortgages, no debts, and who can afford to sit back and wait out what they believe is a temporary dip in property prices.)

I think you should do the same, and rely more on the "house is your home" argument than the "HPC" reasons, because of your particular circumstances. I am, however, a woman !!

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what do you mean...what is the criteria by which you qualify to 'be on here'

this is genuine post...clearly not explained very well...

to clarify....I am 100% behind buying a family home for their security and quality of life - not interested in drops in price (just not sure exactly where this should be - ).

anyway thanks

it boils down to what you want from life, is it to be mortgage free, I mean at 39 at 40ish you're not too old to work, and I would imagine you don't want to retire yet, so is a small mortgage and living in the SE possible? The children play a part here too, you haven't said how old they are, but my 2 are at infants school now and we rent in a small village in kent, we choose it mainly for the school and my children love this life, the countryside is healthy for them, it's a small community and they have lots of nice friends as do we.

If your wife has worked in London for 15 years I would say moving so far away would be too much of a change (if she's anything like my missus!), once your kids are settled and happy - she will be too - so you need to find a nice area with good schools in SE (there are quite a few) and pay the price to live here or move north and accept a change of lifestyle from the London one and have less need for money ....or carry on renting but in an area where you want to stay with a view to buying in the near future. The latter is working for us, and even in the expensive south east we manage to save more everyday...It's a lifestyle choice

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We are in a similar situation to you, apart from the depression. Made our money on doing up houses at the weekend (aka "property speculation") funded by my six-figure City income and his rudimentary DIY skills. Got a bit more than you stashed in the banks to play with. My point is that we are also looking for a home by the sea, and we could also buy a fairly large house mortgage free, and we are also under 40 with a hopefully long life ahead.

My advice is go for it, subject only to the flooding issue. Looking for a home by the sea down here brings in coastal erosion issues - I would not buy a beautiful house on the clifftops here without an expert survey assessing likelihood of cliff collapse in the relevant location within the next 100 years. I think the same point should apply to you in your own context. You don't want to find that no lender would offer a mortgage on your house when you come to sell in 30 years' time.

We (and you) have the money to buy with a small or non-existent mortgage, in which case the argument as to whether or not there will be another 10 or 20 % drop in prices over the next 2 years is far less relevant. If the right house came on the market tomorrow, I would buy it. (My problem is that not alot has been coming onto the market for an awfully long time - our "potential sellers" are people with no mortgages, no debts, and who can afford to sit back and wait out what they believe is a temporary dip in property prices.)

I think you should do the same, and rely more on the "house is your home" argument than the "HPC" reasons, because of your particular circumstances. I am, however, a woman !!

Thanks for this post. I know there are quite a few on here in similar situation.

As far as flooding goes...the EA have come back and said zone-1 risk of flood (1 in 1000), however said that the property is very close to the sea..i..e can't discount storm surge damage....knowing how stormy this area gets, im just making a judgment on risks of serious flooding. However, i think most tidal/sea flooding events (within a normal range) may be better than river flooding events...

After having looked into this in more detail, i think property across the south coast is more susceptible to erosion...but less violent storms ...intersting stuff on the Proudman Oceanography Lab website...if you ever look into buying on the coast.....

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Anti depressents with 550k in the bank because you have to rent?

Jaysus, some people don't know they're born.

No apparently the situation is more complex , we must pity the poor stressed lady with no home to call her own i,m sure the rented accomodation is really shabby. jeeez ;)

sounds like an ideal candidate for the next saw film. :lol:

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If you want a place that is 1hr commute to London then Rugby fits the bill. Good education for the kids too.

Have a look on Rightmove. £550K will buy a nice 4 bed house in a good village. There's one for £525K in Clifton on Dunsmore for example.

Not too close to the sea granted. But good sailing available nearby.

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Thanks...sensible stuff...especially re: local knowledge.

not paying 10% over the odds...but i hear the wisdom of buying below 500K threshold...

all these things are making me re-examine this decision...

(problem is though my other half won't move to another rental...she feels we are loosing pace with market and does not believe there will be more reductions)

As far as the envy thing and some of the comments i have got,

Im really not bothered... im just trying to do the best thing for my family's future

Tell her she is wrong?

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  • 441 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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