Bought!

[GrillsBears]

For Realist - read Defeatist.

Nope, there it is again that labeling thing that the desperados do.

The realists were saying house price rises by the end of the year. Oft shouted down on here "wait till the nights draw in" etc etc. Guess what? Prices are rising.

Convergence of splines lines leading to price support at lower volumes. "Cant' happen price rises require 75-100k transactions to see rising prices" despite Spline's prediction that lower volumes can support price rises due to the mix of buyer changing.

The impact of QE on asset prices and the subsequent support of the housing market was predicted by some realists and pooh poohed. Well what's happening?

There is nothing defeatist in confronting reality. It's fine to rail against it but it doesn't change reality one iota. Was King Canute a defeatist? There are some here that believe systemic failure is around the corner. That is the ONLY scenario in which large nominal fall will be achieved from here. But in that case the money you've saved up to buy a house would be better spent on a shotgun and some books about farming.

Again this place was great until the shrill doomsters drove the intelligent balanced posters away. Now it's a great big *****ing bucket for depressives and catastrophists.

Edited December 2, 2009 by GrillsBears

[Bruce Banner]

This is not the place for good news. On here, purchasing or doing something positive is received with contempt and viewed with the most severe scepticism. I would advise against seeking validation from people who, from my observations, are clearly depressed. Now, i do not mean everyone, but those who have cast a negative doubt over a person who has bought a home.

Depressed and bitter folk congregate here and round on anyone trying to make a buck. Whilst this site is, at times, a very informative facility, it also harbours the most deluded and frankly, acidic humans in this country. Anti profit and sad.I call them finger-pointers. Soceity's worst.

You’ve done well. You do not need me to tell you. Likewise, you could do without a sanctimonious fool who has trolled the sites in a dark rook for the past decade, all the while blaming the world for everything and anything, criticizing your business decisions.

House process may fall. They also might rise. So what? People will always need somewhere to live. I say if you could afford to buy, do so. If not, then don’t. Let’s not over complicate matters.

Why put your life on hold for 3 years in the hope that you might save 10k?

[Fairies Wear Boots]

Evening Brucie!

[Bloo Loo]

Nope, there it is again that labeling thing that the desperados do.

The realists were saying house price rises by the end of the year. Oft shouted down on here "wait till the nights draw in" etc etc. Guess what? Prices are rising.

Convergence of splines lines leading to price support at lower volumes. "Cant' happen price rises require 75-100k transactions to see rising prices" despite Spline's prediction that lower volumes can support price rises due to the mix of buyer changing.

The impact of QE on asset prices and the subsequent support of the housing market was predicted by some realists and pooh poohed. Well what's happening?

There is nothing defeatist in confronting reality. It's fine to rail against it but it doesn't change reality one iota. Was King Canute a defeatist? There are some here that believe systemic failure is around the corner. That is the ONLY scenario in which large nominal fall will be achieved from here. But in that case the money you've saved up to buy a house would be better spent on a shotgun and some books about farming.

Again this place was great until the shrill doomsters drove the intelligent balanced posters away. Now it's a great big *****ing bucket for depressives and catastrophists.

No, SOME prices for SOME desirable homes have risen in SOME areas.

Government have fiddled with the market.

QE has not gone into the WILD...it IS supporting our dead banks...but something has to give.

I think the realists have also pointed out that the propping up of a market to avoid a bust will usually be successful, but ALWAYS there is a price to be paid, that price RISING as the resistance to the inevitable is prolonged.

Its not Doomster to point this out. The DOOM was happening during "the good times" when politicians and voters were deluded that they had "cracked it".

the BUST, where we are now, is the GOOD times...where waste and malinvestment are rewarded with failure and good investment is rewarded.

maintaining malinvestment just keeps the plughole open and the wealth draining away.

The reckoning will come either as a further very painful crash in cash holdings, or a large bank failure that cant be supported, or the IMF stepping in.

ALL these lead to the inevitable: a serious reduction in spending power.

whether thats because a teabag costs £1000 or because you are taxed at 90% ( direct or indirect), the propping up IS heading this way.

Its not DOOM. Its the truth.

[Once in a lifetime]

Best wishes & good luck OzzMosiz.

[campervanman]

What do you expect from the UK? The guy has bought a home for his family at a price that he considers reasonable. He appears to be on a decent wage, and family life seems sweet enough for him to put down some roots.

What do you want? A free house and a million quid a year?

I've lived abroad for the past 3 years. Every time I come back to the UK I realise more and more what an awful place it has become. To me, enjoying life in the UK may be possible if you are oblivious to what an enjoyable life can be like, For me, a life going nowhere by running faster to stand still in a country that has become Europes equivalent of the old East Germany is a pointless waste of a life. Buying a house in the UK=a life of slavery in an increasingly unpleasant and pointless country.

[scottbeard]

I've lived abroad for the past 3 years. Every time I come back to the UK I realise more and more what an awful place it has become. To me, enjoying life in the UK may be possible if you are oblivious to what an enjoyable life can be like, For me, a life going nowhere by running faster to stand still in a country that has become Europes equivalent of the old East Germany is a pointless waste of a life. Buying a house in the UK=a life of slavery in an increasingly unpleasant and pointless country.

Please tell us what your life abraod is like and why it's more enjoyable - perhaps then we might agree.

My suspicion is that people are different and not all of them would enjoy what you think is more enjoyable. For example, 30C temperatures may seem heaven to one person, and a horrible heatwave to another.

[Godley]

For Realist - read Defeatist.

Thing is what you need to rationalise is that to bet in the other direction is a bet against the most powerful VI's in the country, who have loaded the dice, marked the cards and have a little magnetic switch on the roulette table. You wanna bet? Go ahead the house will win.

This makes me a realist or in your eyes a defeatist, so be it, for me it marks out the fools who wish to bet against it.

By all means get angry at me for pointing out the obvious if this makes you feel better, but your anger changes nothing in the 'real' world.

[campervanman]

Swindon - some say its horrid and some areas are, but not the area I've bought in.

Baghdhad is nicer than Kabul.

[campervanman]

Please tell us what your life abraod is like and why it's more enjoyable - perhaps then we might agree.

Peace and tranquility with added self sufficiency in 5 acres with 3 houses in central France for less than the price of a 1 bed UK slavebox. Try it.

[Y-QUERK]

[Godley]

Peace and tranquility with added self sufficiency in 5 acres with 3 houses in central France for less than the price of a 1 bed UK slavebox. Try it.

Now that is what I hope to have one day...................with added lake..

Money is sh1te though in France, well in the areas I would wish to live in. So, for now make my money over here then sell up and take everything.

Just make sure I have postal address in the UK for when I need to pop back and use and abuse the NHS.

I used to be proud to be British and would have despised somebody who thinks like I do now, funny how one can get 'defeated'.

[campervanman]

Now that is what I hope to have one day...................with added lake..

Money is sh1te though in France, well in the areas I would wish to live in. So, for now make my money over here then sell up and take everything.

Just make sure I have postal address in the UK for when I need to pop back and use and abuse the NHS.

I used to be proud to be British and would have despised somebody who thinks like I do now, funny how one can get 'defeated'.

Good for you. As for money, it's amazing how little you can live on once you get away from the consumerism of the UK. We live a pretty simple life growing as much of our own food as we can and doing our own building/renovating. No time to visit shopping centres even if we wanted to.

[Bruce Banner]

Just make sure I have postal address in the UK for when I need to pop back and use and abuse the NHS.

The French healthcare system is far superior to the NHS, it's almost as good as Cuba's.

[404]

Congratulations. I am sure that as a HPC reader you went into the deal with your eyes wide open and do not labour some crazy notion of the house earning you money.

I am sure you were armed to the teeth with real information regarding mortgage afordability, property bee info, previous sale history and bullet proof EA bllsht armour.

One of the fundamental sentiments that is often pushed to the background on this site is that houses should be for living in, not investing in.

If you were buying a second "investment house" then I would agree that now is not exactly an ideal time but a home is different.

It will cost you x000 a month in loan repayments for 23 years and you seem comfortable with that. In return you have some thing that will allways be worth exactly 1 house and for most of your life you are going to need one of them so the exchange rate between houses and £s ( or hours worked for that matter) doesn't have to matter a whole lot. if you buy a car you do not continually worry about it's future worth and I tend to think in a similar way with a home. ( similar not the same)

As already mentioned, and as should be patently clear to anyone who can think for themselfs house price indicies are very rough aproximations to somethign that is dynamic right down to the individual street level there are always good and bad deals and trends moving in different directions. Bad parts of town get gentrified, school catchment zones can change etc. Even more so you have to factor in how closely a house meets your ideal requirements, the right house at the wrong time may be no worse than the wrong house at the right time. If your buying on a large newish estate then house may be fungible but for the most part they are not. Personally I would not want to buy a house that had been renovated ( I think most people's taste and concpet of liveable spaces is terrible) and when coupled with location, size, timing and a realistic seller I know that finding something that is 100% right is tall order. 90% right is probably doing well but that could include overpaying for an ugly extention, proximity to a school if you have no kids or even buying at a point in the market when you think there is a good chance further falls. Case in point, a good friend bought what to my eye was a turnkey house 6 months ago and got a good deal, but she subsequently undertook major work to modify it to what she really wanted. Although she bought at the bottom of the dip from a vendor with a gun to their head ( divorce + relocation) the net result is not hugely differnet to if she bought today.

It's a home, enjoy it.

Edited December 3, 2009 by 404

[AteMoose]

congrats, sounds like an ok deal. There are positives and negatives to buying and renting but it sounds like the maths work for you now. If you can afford to buy a house and it is cheaper than renting, then it is the right time to buy. Im in a similar situation, I bought at the peak with a discount and the current value is still well above the price I paid.

[OzzMosiz]

On 02/12/2009 at 11:56, TheCountOfNowhere said:

Well, you havent timed that too well.

It's another mini-peak.

Caused by

a) people think they are getting a bargain ( but have missed the low point )

people thinking house prices are going to shoot up ( well they aint )

c) people terrified they will miss the boat ( some boats aint worth getting on, e.g. the titanic )

Good luck though. A house should be a home not an investment.

Turns out I timed that at the best possible time in the last 10 years. Sold 20 months ago for £100K more than I bought it.

So you were wrong TheCount!

[Fromage Frais]

On 02/12/2009 at 11:31, OzzMosiz said:

Ok, well I've finally buckled after many years on here and bought a 3 bedroom detached house with garage on a 23 year mortgage.

House is sold for 169K and I have bought it on my salary alone with mortgage just below 3 times my gross salary.

Mortgage is ~ 1/4 of mine and my fiances take home pay. House needs some work (garden, decorating, new carpets) but is liveable.

Do I expect it to be worth less in 1 or 2 years? Probably, unlike others I will be sticking around here though as its one of the best forums for

economic news.

£169k
 

Nostalgia thats seems so far away around here

Edited May 1, 2018 by Fromage Frais

[ccc]

Where do you live now ? And what did you do with that £100k

[Sugarlips]

Well done, what’s the market done since you sold, what are you investing the money in instead, are you renting?

[OzzMosiz]

Well I do commute 45 miles to work to get a bigger salary.

CCC, I bought a 6 bedroom house for 70K more than I sold our last house (3 bedroom) and had 50K extra in savings to put down on that. Bigger garden, more parking, more rooms, quiet locations, less neighbours but a lot of work to update.

 

Edited May 1, 2018 by OzzMosiz

[ccc]

Are you breeding like a rabbit !!

Sounds like you've not done bad anyway. And these are homes to live in so nice one.

[OzzMosiz]

9 minutes ago, ccc said:

Are you breeding like a rabbit !!

Sounds like you've not done bad anyway. And these are homes to live in so nice one.

Thanks CCC, haha no. Just 1 son and no more to come (I don't believe we should be allowed more than 2 kids - but I won't go into that).

We will likely downsize when he is older to gift him some money.

The house is a dormer bungalow so the footprint was big before the previous owners put the dormer extension in the roof.

Live in Wiltshire, just outside Swindon.

 

Edited May 1, 2018 by OzzMosiz

[crashmonitor]

22 minutes ago, OzzMosiz said:

Well I do commute 45 miles to work to get a bigger salary.

CCC, I bought a 6 bedroom house for 70K more than I sold our last house (3 bedroom) and had 50K extra in savings to put down on that. Bigger garden, more parking, more rooms, quiet locations, less neighbours but a lot of work to update.

 

Well if I am reading this right the current 6 bed property cost circa 339k (169k +100k+ 70k), doesn't sound a lot for Wiltshire. 2009 was close to the bottom of the Market for sure.

[OzzMosiz]

1 minute ago, crashmonitor said:

Well if I am reading this right the current 6 bed property cost circa 339k (169k +100k+ 70k), doesn't sound a lot for Wiltshire. 2009 was close to the bottom of the Market for sure.

Almost spot on crashmonitor. We got it at a good price for it's size (its not a pretty house to look at).