Jump to content
House Price Crash Forum
Number79

How Much Deposit?

Recommended Posts

There are lots of differing opinions here about the pro's and con's and about renting vs buying and about mortgages and rates.

What % deposit do you have for the type of home that you are aiming to buy?

Share this post


Link to post
Share on other sites

Does depend on if you mean price it is today or price we expect / want it to be?

Yes two very different numbers!

Also, all the Multiples of ten have two options!

Edited by Pent Up

Share this post


Link to post
Share on other sites

I've put 0% becuase I want to build my house and I dont know if its possible to buy the land with planning permission to build what I want to build.

I should add I dont have a clue how much it would cost to build though but its running costs should be non existant.

I havent seen or heard of anything quite like my ideal house, even after talking to an architectural designer friend but its very off grid in terms of energy requirements, ie self sufficient and has many indirect cost savings as well.

I will still need communication though to stay in touch and do my work so a fast net connection will be a requirement so not off grid in that respect.

Good luck getting the sort of land you want and then obtaining the planning permission for anything other than an average property. I don;t know if it is impossible in the country but it certainly isn't going to be easy!

Share this post


Link to post
Share on other sites

I will still need communication though to stay in touch and do my work so a fast net connection will be a requirement so not off grid in that respect.

If you don't need it for gaming then a satellite broadband connection would probably do, about £25 a month last time I checked and no wires/phone line needed.

Share this post


Link to post
Share on other sites

I'm thinking more laser line of sight communication than satellite like the military use at the moment. Think directional long distant wifi but laser instead of radio.

Lots of benefits, like fast, secure and low infrastructure costs compared to say the running cost of satellite or laying fibre although one of my customers could supply all the fibre I would need if I had to go that route. Got to have a backup/compromise option when building a house. :)

Microwave is probably going to be the best option, I built a laser link back in 1997, though it only ran at kilobaud rates and connected across a road it was susceptible to poor weather conditions.

I started on a 2 mile microwave link back in 2003 to a friends house (no broadband here back then) but didn't complete it, even though line of sight was clear there were too many trees close enough for them to attenuate the signal.

It would be a great help in such a project if planning restrictions were relaxed on houses built with low/zero environmental impact.

Share this post


Link to post
Share on other sites

If you don't need it for gaming then a satellite broadband connection would probably do, about £25 a month last time I checked and no wires/phone line needed.

Where would you get that?

Smells to me of something like a sky package. Nice fast incoming data, but needs to be supplemented by a 'net connection if you want anything more than channel-flipping.

Share this post


Link to post
Share on other sites

Good luck getting the sort of land you want and then obtaining the planning permission for anything other than an average property. I don;t know if it is impossible in the country but it certainly isn't going to be easy!

I don't know - if the budget is to be believed, the default answer to planning applications will now be 'yes'. Will be interesting to see how that plays out....

Share this post


Link to post
Share on other sites

Does depend on if you mean price it is today or price we expect / want it to be?

yes, they are two very different questions. Since we can not know what prices will be I think that the logical question to answer is what percentage of a deposit do you have for the house that you would like to live in as it is priced now.

Share this post


Link to post
Share on other sites

Does depend on if you mean price it is today or price we expect / want it to be?

yes, they are two very different questions. Since we can not know what prices will be I think that the logical question to answer is what percentage of a deposit do you have for the house that you would like to live in as it is priced now.

Share this post


Link to post
Share on other sites

The longer the banksters get their puppets to keep this bubble going, the bigger my pot of money grows and the less time and inclination I have to take on any mortgage.

I would say the banksters are thus shooting themselves in the foot on this one, but I suspect I am the exception not the rule and that there will be plenty of others who will sell themselves into indentured slavery to the banks thus balancing out any business they are losing from me.

Share this post


Link to post
Share on other sites

I want it to be inconspicuous and have as low a visual impact on the surrounding coutryside as possible which hopefully will count at the planning stage, but I have to find the right bit of countryside first.

This isnt going to be a typical house by any means not even something Grand Designs will have featured will come close to what I want to attempt.

I think I should call this the Impossible Home becuase there will be an awful lots of hurdles to cross. :unsure:

You are going to build a ledge on the bottom of an electricity pylon and paint the outside walls sky blue? So people still think they are looking at the sky from the surrounding countryside.

Am I right?

Share this post


Link to post
Share on other sites

I want it to be inconspicuous and have as low a visual impact on the surrounding coutryside as possible which hopefully will count at the planning stage, but I have to find the right bit of countryside first.

This isnt going to be a typical house by any means not even something Grand Designs will have featured will come close to what I want to attempt.

I think I should call this the Impossible Home because there will be an awful lots of hurdles to cross. :unsure:

I would love to do a similar thing. I spoke to a friend of mine that works in the planning department of one of the local councils. His answer was that its nigh on impossible to get planning permission where it would otherwise not be granted by virtue of the green credentials etc etc (this is in the South East though, which no doubt makes things harder and more expensive). I think Gary or Phil Neville got planning permission in green belt on those grounds, but I imagine his budget was probably a little higher than yours. The most likely option is buying a plot with an existing building or with planning permission already, however there is a heft premium on these sites for obvious reasons. Buying a plot speculatively in the hop of getting permission is a bit risky unless you can get it for peanuts. There are plenty of people selling land by suggesting that it could be used for building when in reality there is not a cat in hells chance.

My mate told me that you'd need to research the policies of the local councils as some are more open to things than others and may have targets to meet for low carbon housing that yours could help them achieve.

His advice was no big surpise, but a bit depressing nonetheless. The whole greenbelt thing is a bit annoying as its totally arbitrary and the whole country was green once.

edit to add - sorry its totally off topic, but the poll was a bit flawed. I bought a house with about 30% deposit in 2007, hooping for a crash so I can get the next one with circa 50% or more deposit.

Edited by worzel

Share this post


Link to post
Share on other sites

I would love to do a similar thing. I spoke to a friend of mine that works in the planning department of one of the local councils. His answer was that its nigh on impossible to get planning permission where it would otherwise not be granted by virtue of the green credentials etc etc (this is in the South East though, which no doubt makes things harder and more expensive). I think Gary or Phil Neville got planning permission in green belt on those grounds, but I imagine his budget was probably a little higher than yours. The most likely option is buying a plot with an existing building or with planning permission already, however there is a heft premium on these sites for obvious reasons. Buying a plot speculatively in the hop of getting permission is a bit risky unless you can get it for peanuts. There are plenty of people selling land by suggesting that it could be used for building when in reality there is not a cat in hells chance.

My mate told me that you'd need to research the policies of the local councils as some are more open to things than others and may have targets to meet for low carbon housing that yours could help them achieve.

His advice was no big surpise, but a bit depressing nonetheless. The whole greenbelt thing is a bit annoying as its totally arbitrary and the whole country was green once.

Wifes friends live in cornwall. They told us how difficult it is to get planning. Apparently it cost a friend of theirs a new Range rover to be allowed to build another house on their farm. Seems pretty expensive but by the sound of it they were allowed to build exactly what they wanted.

Share this post


Link to post
Share on other sites

I'm hoping to circumvent the planning restrictions becuase of its research & scientific contribution plus I'm also prepared to have it dismantled once I die if need be. But I do believe what I have planned is possibly the future in housing anyway becuase of the indirect cost savings.

Innovation is the driver of growth and housing has not had much innovation over the last 100 years compared to other industries so I might even get away with it by calling it a BRE experiment, not like what they have at Garston but an in the field experiment.

Sounds very interesting, wish you the best of luck. Please do keep us informed when you can reveal more details.

Share this post


Link to post
Share on other sites

I think so, but there are ways and means of keeping damp at bay, I will say humidty control is one of the features of the idea becuase central heating during the winter months can dry people out quite alot, plus you need more energy to make someone feel warm becuase they sweat more in a dry environment compared to a high humidity environment, thus an indirect energy saving feature.

The problem with damp or humid environments though is they need to be at a maintained temp, let them get too cold and the dampness becomes noticable.

You get damp when there is a lack of ventilation. That sort of house looks like a sweat making tin with no air.

Share this post


Link to post
Share on other sites

It will have a passive heating and ventilation system using a chimney effect to circulate the air internally as air flow is required to regulate humidity quickly.

Bear in mind some energy saving can be had with things like active radiators as well, ie ones that heat up on demand and switch off when not required so as to not heat rooms unneccesarily like bedrooms. It will be very luxurious and high tech, there wont be any steps backwards or compromises on todays standard of living.

For example the house will have its own computer system to control & manage its energy consumption and production as well.

Lets just say I want a continous record of its green credentials for this experiment. :)

Stock up on tissues and paracetamols because you will get a lot of colds.

Share this post


Link to post
Share on other sites

Anyone surprised by the poll results so far?

I knew there were a lot of people here with a lot of money but must admit that I am a bit surprised.

I realise that having 90% of the cash for a £500k house is not the same as having 90% for a £150k home but figure that it must be relative.

It seems that we really are a thrifty bunch. It would be interesting to see the results of this sort of poll on mse and alike.

Share this post


Link to post
Share on other sites

Anyone surprised by the poll results so far?

I knew there were a lot of people here with a lot of money but must admit that I am a bit surprised.

I realise that having 90% of the cash for a £500k house is not the same as having 90% for a £150k home but figure that it must be relative.

It seems that we really are a thrifty bunch. It would be interesting to see the results of this sort of poll on mse and alike.

Only 22% in the 80% to 100% group and not all those might have 100%. So less than 22% will be cash sales. Isn't that below the percentage of cash sales in the UK these days?

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...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 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.