Jump to content
House Price Crash Forum
Sign in to follow this  
CrashIsUnderWay

Should I Buy The House?

Recommended Posts

LOL, just checked out a house i am looking to rent -

NO

The house is TERRIBLE value for money, and you will probably regret buying it as soon as you move in.

I may go and have a look at it.

And if i owned it, and was thinking of selling -

YES

The house is unlikely to rise in value an further - sell it fast!

Share this post


Link to post
Share on other sites
so an 8.3% yield wouldnt be enough to make a BTL 'safe'? I spose... what with voids, charges, leaky roof, new boiler, exocising the evil spirits in the basement...

In the states yes. In the uk interest rates are usually higher so another percentage or 2 would be a rise point.

10% is supposedly a decent acceptable yield but you have to watch out for service charges and discount that from your rental.

Of course you only need such yields if you are running your BTLs as a business not an investment. But no one would be stupid enough to treat letting as purely an investment, would they? :lol:

Share this post


Link to post
Share on other sites

I just got told that I should NOT buy my house. "The house is TERRIBLE value for money, and you will probably regret buying it as soon as you move in."

Then I got told (with the same figures) not to sell it. "The house will almost certainly go up in value over the years. Don't Sell yet!"

How about one that says "Should you entrust your future to a javascript app"?

Share this post


Link to post
Share on other sites

Interesting. If the figures stack up, this is basically saying that I shouldn't pay any more than £190,320 for the 2 bed flat I currently rent. I've always said I'd pay no more than £200k for it.

The upstairs and next door flats have both been sold to BTLs (one 9 months ago and the other 3 months ago). The initial asking price for each was £295k. In the end, the first sold for exactly £250k. I'm waiting to find out what the other one went for but it was on the market for about a year so I expect in the end it'll be a similar figure (i.e. £250k).

Hence, the way things are headed, the £200k mark should be about right for 3/4 years time....

Share this post


Link to post
Share on other sites

$£€1000 can be the difference between a great deal and a terrible buy using that website.

They should probably have given a few more options.

Share this post


Link to post
Share on other sites

been playing with it - looks liek a variation on the old 8/20 rule.

Which would explain why there is a large space with which it is stupid to buy, but also not a definite sell either...

As I recall, if its 8 x annual rent, buy it. If its 20 x annual rent, sell it. If its in the middle, well, what the hey... make ur own mind up, t@ssers!

Edit - ARF! Just did my landlords flat and got:-

NO

The house is LUDICROUSLY overvalued, and you will probably regret buying it before the contract is dry.

Edited by CrashIsUnderWay

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.