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cypher007

What Should We Do?

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our current position:

3 bed semi paid for, worth about £110k.

£50k deposit saved.

we want to have one property as a rental and one to live in. the rental market in Boston UK where we live is hot, due to eastern Europeans constantly moving in.

what weve found so far, when weve offered on a few properties, is the estate agents/vendors are not very keen dropping from the asking prices. more so since the HTB2 scheme was announced, not that the Help The Bubble scheme will drive up prices no no of course not.

so should we continue waiting, been waiting 6 years. or take the plunge before we cant afford to trade up at all.

Edited by cypher007

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our current position:

3 bed semi paid for, worth about £110k.

£50k deposit saved.

we want to have one property as a rental and one to live in. the rental market in Boston UK where we live is hot, due to eastern Europeans constantly moving in.

what weve found so far, when weve offered on a few properties, is the estate agents/vendors are not very keen dropping from the asking prices. more so since the HTB2 scheme was announced, not that the Help The Bubble scheme will drive up prices no no of course not.

so should we continue waiting, been waiting 6 years. or take the plunge before we cant afford to trade up at all.

:lol::lol::lol::lol::lol:

Who write's the stuff for you, I gotta get them on my show.

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oh and one property needs to be a 3 bed detached at least. which will be about £140k up.

Here's a crazy idea: sell your current house for £110k and use £30k of your deposit to buy a 3 bed detached for £140k. Enjoy your debt-free life.

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Here's a crazy idea: sell your current house for £110k and use £30k of your deposit to buy a 3 bed detached for £140k. Enjoy your debt-free life.

that was our original idea, but our semi is in a tricky area to sell, as its out of the golden mile from asda that the eu people like. plus after 20 years wed have two properties. also if the poo hits the fan and we cant pay the mortgage the bank gets the semi.

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that was our original idea, but our semi is in a tricky area to sell, as its out of the golden mile from asda that the eu people like. plus after 20 years wed have two properties.

Sounds foolproof, reckon you should go for it.

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I hear a rumour that they're building a Lidl just beyond the golden mile at the end of your road. It's going to give Asda a serious problem at the budget end of the range.

Also, there's a chance that the HS2 route is going to swing through Lincolnshire to satisfy disgruntled Tory backbenchers - you'll be 4 miles from a station, London will be in commuting range! We're not just talking East Europeans now, there's going to be TINKs driving up house prices as soon as the news breaks.

If I was fortunate enough to live in Boston I'd be loading up with debt and buying houses so fast it would be like Friday night at the Polish vodka shop.

.

Edit .... I've been checking planning applications in the area and someone wants to convert one of the old WW2 airfields into a fully fledged porcine airport. You'll be able to take a flying pig direct to Ibiza and also the major manufacturing centres in China.

.

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OP - I think you are unlikely to get a helpful answer here. People are less than warm to landlords in general (bar the odd few who seem to have a landlord who is actually decent). BTLers in particular generally draw ire as there's a reasonable assumption they are driving up prices for the ordinary person.

You might be better off trying a landlords forum or even moneysavingexpert.

Personally I am in a similar position (modest sized house paid off/bit of cash in the bank) but ethically I couldn't bring myself to get a buy to let, nor do I want to trade up to something bigger. Also being debt-free housing wise is a marvellous, and rare, thing these days and I am enjoying the freedom it brings. Consider also that housing needs change over time. What seems great now - big sprawling place for the possible nippers to roam around in, might be less appealing when they've grown up and you are having to manage an oversized garden yourself.

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