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DonnieDarker

What Is Your Plan?

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As a way of appreciating where certain folks are coming from I pose this question:

In a nutshell what is the plan you hope to execute by waiting for the market to fall?

I'll start:

My plan is:

-buy 2 bed-flat in North London, circa 2007 for 250k-270k

-put down most of savings as a deposit (100kish)

-get reduced mortage (16 years)

-overpay and try and clear in 12

-once mortgage is cleared, plan to upgrade to a house in the area (currently start at £400k)

Now I feel naked! :lol:

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Blimey Charlie, we do live in different worlds dont we...

Anyway I hope to buy at end of 2006 or early 2007 in the wigan area. Will have a 8-10 grand deposit and want to buy a 2 bed terrace for about 40 - 50K. Then trade up to a 3 bed semi for about 60-80K when i can start a family.

I shall be trying to overpay as well but I am cack with money so this may be out of my control..

Maybe I am being unrealistic, if it is then I shall be looking to leave this place...

Scotty

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Different markets but the same idea.

I like the area I live in and I and partner have saved hard over the last 5 years to build up a big deposit.

I'm an advocate of location is everything and am realistic to know that I will never have the kind of salary that will allow me to buy a house in the area so the only solution is to:

- time the market reaonsably well

- save like mad and try and clear the mortgage on the flat before future child/ren is big enough to need more space.

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Plan to continue saving like mad for the next 2, 3 even 4 years, for how long as it takes. Then buy a nice property and try and pay it off as soon as I can.

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OK - living in East London at the moment.

End of 2007 - me and missus (providing things go OK with jobs/cash saving) - plan to buy somewhere outright in either South or North Wales. Pref 2/3 BR with a reasonable garden (60 ft+) for around 60/70K. About half the way there at the moment.

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OK - living in East London at the moment.

End of 2007 - me and missus (providing things go OK with jobs/cash saving) - plan to buy somewhere outright in either South or North Wales. Pref 2/3 BR with a reasonable garden (60 ft+) for around 60/70K. About half the way there at the moment.

Relocating. Shrewd if you can do it.

We want to saty in London for the usual:

jobs

family

culcha

probably not the easiest place to raise a family but my GF turned out OK. ;)

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Waiting for prices to fall 30% in the "delightful" M4 corridor, meanwhile saving hard. Buy a terrace in Swindon, local cultural capital and pour as much as I can into paying the mortgage off quickly.

Maybe move up during the next trough? Don't care as long as I have my own decent place.

Eventually do as the white flighters of the South have been doing for years - flog my2up2down and buy a house in its own land with a sea view in the Western Isles and have 50K change. Except I'm not planning on opening a reiki healing centre or a candle workshop when I get there :P

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Our plan is quite simple - buy a £750K house putting down a 50% deposit.

Timing will only dictate what we get for our budget. If we see something tomorrow we like we will put an offer in.

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Approx 2-3 years. 30k deposit, 5-10 k overpaid per annum.

Looking for a 2/3 bed place. Nothing extravagant. Little terrace cottage will do me. 2 bed flat as long as long as it's well built in a decent area.

I hope for about 140 - 150k asking price in that time. Currently at top end of 190k and dropping VERY slowly.

Might be a dreamer.

Might end up in a 1BR hovel.

Might rent for life.

Might be unemployed by then.

Who knows.

I'm just a passenger.

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Blimey Charlie, we do live in different worlds dont we...

Anyway I hope to buy at end of 2006 or early 2007 in the wigan area. Will have a 8-10 grand deposit and want to buy a 2 bed terrace for about 40 - 50K. Then trade up to a 3 bed semi for about 60-80K when i can start a family.

I shall be trying to overpay as well but I am cack with money so this may be out of my control..

Maybe I am being unrealistic, if it is then I shall be looking to leave this place...

Scotty

Please.. While in credit of £10,000 do not refer to yourself as cack with money..

I am impressed..

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Keep saving and working for 3 more years - till my share saver scheme pays out

Total saving should be about 70K

Purchase 120K 3 bed house locally after 30% drop using either a very small mortgage to be paid off within 2 years, or via the stoozing credit card system get 10K worth of liquid cash on 0% zero for a year then pay that off.

(all depends on the maths/costs at the time)

Be 35 and have no mortgage :P

Stop work.. and retrain to be a dentist while ridding out the worst of the UK PLC downturn. Then 2 years NHS, followed by 10year of private practice. Then sell during next house price peak (if it comes) and move to somewhere very cheap to live, were I can train full-time for the international veteran's triathlon and ride my motorbike.

:D

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My plan is:

-buy 2 bed-flat in North London, circa 2007 for 250k-270k

-put down most of savings as a deposit (100kish)

-get reduced mortage (16 years)

-overpay and try and clear in 12

-once mortgage is cleared, plan to upgrade to a house in the area (currently start at £400k)

Firstly (and most obviously) you are of course relying on HPI to carry out your plan. The very HPI that people here are ranting against.

Before that you are relying on a HPC to make houses affordable.

So you want a HPC followed by HPI that you can benefit from.

I suspect most of the other mugs on here want the same. S'funny really.

What they fail to see is that most of you on here actually want is more of the same. The only reason some people are so sore is because they missed it last time round.

PS - If you cannot find a 2 bed flat in N London for that money, even now, you shouldnt be buying property mate. (But I guess you want the cafes, canals and culture that Krusty and the Sunday supplements waffle about.)

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To all you who wanna overpay your mortgage, My hats off to you. you sound like real people whose company i may enjoy. More power to you.

Im renting, and really hope to rent rent rent. I plan to speculate and grow my total wealth consistiently faster than even peak hpi through speculation (contrarian investing).

If im not of the charachter required or never develop the understanndings required then i'll join the common treadmill.

even though the mortgage cost may become cheaper than rent, the renting will win on flexibility to down or upscale my living as my income previous years returns dictated. And id like the idea of streching my rent money by renting in cheaper place as my work could even be done out of public libary newspaper room.

But if the understanding is profitable then the returns should see me securing myself in a modest abode some where to settle the emotions.

sp1

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No one rants against HPI perse, its the mis information of HPI FOREVER and setting up uninformed people with trouble when they may have been better off waiting.

Its the lack of freedom by the pressure of the hystercal media bias.

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"What Is Your Plan?"

Not let banks make money from me, therefore not jump on the wheel like many on here are keen to do.

I wouldn't buy a house in this country if they were half the price they are now, thought they were a rip off in 1995!

I'm just bemused by how crass this country has become and now realize that I was right all along.

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Looking to buy 3/4 bed detached ( no more semis for us!) Winchester area, with links to M3. Want to use no more than £50K of savings as deposit, and hope for prices to drop below £200K for this type of house. It would req a substantial drop in prices...but hey! who knows? :P

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I wouldn't buy a house in this country if they were half the price they are now, thought they were a rip off in 1995!

If you had bought in 1995 you would be well on the way to owning that rip off house and you would be paying less mortgage per month today than rent.

I suggest you listen to some of the more savvy posters on this thread Dom and buy a house in a few years' time when prices fall.

Pay it off ASAP and you'll never pay rent again...

and now realize that I was right all along

Are you sure?

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Firstly (and most obviously) you are of course relying on HPI to carry out your plan. The very HPI that people here are ranting against.

Before that you are relying on a HPC to make houses affordable.

So you want a HPC followed by HPI that you can benefit from.

I suspect most of the other mugs on here want the same. S'funny really.

What they fail to see is that most of you on here actually want is more of the same. The only reason some people are so sore is because they missed it last time round.

PS - If you cannot find a 2 bed flat in N London for that money, even now, you shouldnt be buying property mate. (But I guess you want the cafes, canals and culture that Krusty and the Sunday supplements waffle about.)

/shrug

Past performance is no indication of future gains. Some here will tell you that we're going Japanese and that there will be no next HPI. Maybe there will be no HPC.

As it stands, it's (arguably) cheaper to rent than buy, so we rent. If there's a HPC it should turn out to be cheaper to buy... so we'll buy. It's not really an evil dastardly plan, it's just logic. If there's another bubble then some will hang on, some will STR and we'll be back here again.

So my plan is virtually the same as Donnie's, albeit in SE London. There are plenty of two bed flats in Deptford, Lewisham, Woolwich, Thamesmead, etc for sub £250k, but I don't want to live there. I like cafés.

Doesn't make us bad people.

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In a nutshell what is the plan you hope to execute by waiting for the market to fall?

I've got his dream about buying some land

I'm gonna give up the booze and the one night stands

And then maybe settle down in some quiet little town.

And forget about everything.

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I've got his dream about buying some land

I'm gonna give up the booze and the one night stands

And then maybe settle down in some quiet little town.

And forget about everything.

I don't believe that is original, but I can't remember wether it was John Melloncamp or Bruce Springsteen. Please enlighten.

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Hope to buy in the next two years. Primarily looking at Wiltshire area, but that may change as I have a lady friend (which is early stages) who doesn't live in the area.

Would like to buy a semi or even detached if possible, but would be 3 bedrooms and a decent non-overlooked garden. Hopefully will have £40+k to stick down

could have more if I changed my lifestyle, but I could be dead tomorrow so screw that! :lol:

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Hope to buy in the next two years. Primarily looking at Wiltshire area, but that may change as I have a lady friend (which is early stages) who doesn't live in the area.

Would like to buy a semi or even detached if possible, but would be 3 bedrooms and a decent non-overlooked garden. Hopefully will have £40+k to stick down

could have more if I changed my lifestyle, but I could be dead tomorrow so screw that!  :lol:

Is this George Formby, tried to Google it but drew a blank.

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  • 302 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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