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didntbuytolet

I've Been On Here A Long Time And You Should Have Bought.

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I've been on here a lot longer than my profile and we agonised about buying in '97 in Shitty S. London, just managed it. We left London in 2003 (selling for £90k more) for a sensibly priced (205k, small mortgage) home to raise a family in, and after 10 years and a change in circumstance (business going well fook all else to do with the cash and avoid CGT) bought a massive family house in a desirable area (cotswolds) last year for £750k. 250 year old totally upgraded cotswold stone mansion in my eyes, and everyone else's.

Big mortgage, but cash in the bank to pay it off.

I fully agree houses are overpriced, I fear how my kids will manage, but new build 4 bed boxes in my immediate area are now £450k - £500k. We made £90k on the London house, about broke even on the sensible house once the extension + mortgage was taken into account (so it was effectively free housing for ten years), and seeing what properties here are now going for we got a ridiculous bargain - not the same house but more like a million for similar.

I won't move again but to downsize now (early 40's, spare wing, spare outbuilding / tiny cottage & 0.5 acre) and if there is a crash I'm (nearly) immune - but systemic political propping up has achieved me the house of my dreams. Thanks Tony/Gordon/David.

If I'd have STR I would have been fooked, if I had not bought I would have been fooked, If I had BTL in '97 when we could have I would be retired but I'm not a total, total capitalist ******* and was politically opposed..

Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

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I've been on here a lot longer than my profile and we agonised about buying in '97 in Shitty S. London, just managed it. We left London in 2003 (selling for £90k more) for a sensibly priced (205k, small mortgage) home to raise a family in, and after 10 years and a change in circumstance (business going well fook all else to do with the cash and avoid CGT) bought a massive family house in a desirable area (cotswolds) last year for £750k. 250 year old totally upgraded cotswold stone mansion in my eyes, and everyone else's.

Big mortgage, but cash in the bank to pay it off.

I fully agree houses are overpriced, I fear how my kids will manage, but new build 4 bed boxes in my immediate area are now £450k - £500k. We made £90k on the London house, about broke even on the sensible house once the extension + mortgage was taken into account (so it was effectively free housing for ten years), and seeing what properties here are now going for we got a ridiculous bargain - not the same house but more like a million for similar.

I won't move again but to downsize now (early 40's, spare wing, spare outbuilding / tiny cottage & 0.5 acre) and if there is a crash I'm (nearly) immune - but systemic political propping up has achieved me the house of my dreams. Thanks Tony/Gordon/David.

If I'd have STR I would have been fooked, if I had not bought I would have been fooked, If I had BTL in '97 when we could have I would be retired but I'm not a total, total capitalist ******* and was politically opposed..

Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

Do you think you will lose money on that in the next few years?

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Well you are right, but like all markets for every winner there is a looser, and with property the body count is stacking up.

I think it will get a lot worse before it gets better.

At the moment the stage on the monopoly board has been reached where the players generally still have some property and have managed to even accumulate a house or two.

Once all hope is lost, and every roll of the dice results in just another rent demand, is when things will kick off however

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I've been on here a lot longer than my profile and we agonised about buying in '97 in Shitty S. London, just managed it. We left London in 2003 (selling for £90k more) for a sensibly priced (205k, small mortgage) home to raise a family in, and after 10 years and a change in circumstance (business going well fook all else to do with the cash and avoid CGT) bought a massive family house in a desirable area (cotswolds) last year for £750k. 250 year old totally upgraded cotswold stone mansion in my eyes, and everyone else's.

Big mortgage, but cash in the bank to pay it off.

I fully agree houses are overpriced, I fear how my kids will manage, but new build 4 bed boxes in my immediate area are now £450k - £500k. We made £90k on the London house, about broke even on the sensible house once the extension + mortgage was taken into account (so it was effectively free housing for ten years), and seeing what properties here are now going for we got a ridiculous bargain - not the same house but more like a million for similar.

I won't move again but to downsize now (early 40's, spare wing, spare outbuilding / tiny cottage & 0.5 acre) and if there is a crash I'm (nearly) immune - but systemic political propping up has achieved me the house of my dreams. Thanks Tony/Gordon/David.

If I'd have STR I would have been fooked, if I had not bought I would have been fooked, If I had BTL in '97 when we could have I would be retired but I'm not a total, total capitalist ******* and was politically opposed..

Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

Many congratulations on your good fortune.

One question - what is the point of your post? It doesn't seem to move the debate on and acknowledges the large role the government played in your property success.

Is coming onto this forum to gloat about your housing riches really the best use you have for your time?

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I've been on here a lot longer than my profile and we agonised about buying in '97 in Shitty S. London, just managed it. We left London in 2003 (selling for £90k more) for a sensibly priced (205k, small mortgage) home to raise a family in, and after 10 years and a change in circumstance (business going well fook all else to do with the cash and avoid CGT) bought a massive family house in a desirable area (cotswolds) last year for £750k. 250 year old totally upgraded cotswold stone mansion in my eyes, and everyone else's.

Big mortgage, but cash in the bank to pay it off.

I fully agree houses are overpriced, I fear how my kids will manage, but new build 4 bed boxes in my immediate area are now £450k - £500k. We made £90k on the London house, about broke even on the sensible house once the extension + mortgage was taken into account (so it was effectively free housing for ten years), and seeing what properties here are now going for we got a ridiculous bargain - not the same house but more like a million for similar.

I won't move again but to downsize now (early 40's, spare wing, spare outbuilding / tiny cottage & 0.5 acre) and if there is a crash I'm (nearly) immune - but systemic political propping up has achieved me the house of my dreams. Thanks Tony/Gordon/David.

If I'd have STR I would have been fooked, if I had not bought I would have been fooked, If I had BTL in '97 when we could have I would be retired but I'm not a total, total capitalist ******* and was politically opposed..

Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

:lol:

Yes. It's been apology after apology.

Hopefully buyers have been dancing into a game-changer at ever higher prices.

Fear for your kids managing (vs this HPI)?

So do plenty for Toby's children, with his £1.5m valued house. You with fear for your kids future with you £700K mansion purchase. I keep telling hpcers to set up direct donations to people in your position.

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Its honestly a recap, if you look at early posts. I've been skinter than a skint thing with no backup for years. Yes, Kids will be ok when I die, unlike me and my parents.

Just saying, as I've spent many, many hours on this forum. HPC in significant level not going to happen. The forum is about HPC and has been online for 12 years - just pointing out its rather been proven wrong, long term. Don't agree its right, but equally the lottery is a hideous scam and I wouldn't hand the money back if I won on that either.

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The only way I really could've evaded sky high debt was if I bought pretty much immediately, young 20s, certainly no older than 25. Back then though I had other things on my mind - that and I was as poor as a church mouse, so even cheap as they were it would've had to be a 100% mortgage.

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We made £90k on the London house, about broke even on the sensible house once the extension + mortgage was taken into account (so it was effectively free housing for ten years), and seeing what properties here are now going for we got a ridiculous bargain - not the same house but more like a million for similar.

I won't move again but to downsize now (early 40's, spare wing, spare outbuilding / tiny cottage & 0.5 acre) and if there is a crash I'm (nearly) immune - but systemic political propping up has achieved me the house of my dreams. Thanks Tony/Gordon/David.

If I'd have STR I would have been fooked, if I had not bought I would have been fooked, If I had BTL in '97 when we could have I would be retired but I'm not a total, total capitalist ******* and was politically opposed..

Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

According to the above, you broke even on the "sensible" house, therefore all of the funds to pay for the new mega house have been earned

So if you had STR or not bought you would be in pretty much the same position surely?

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Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

Similar timing for me, starting in 1997 was the key.

I realised a few years ago that the HPC was going to take more time than I had available. I managed to buy in 2010 from a forced seller for 15% less than I sold for in 2003, not as good a drop as I was expecting but its gone up 30% since then and I've added another 50% with improvements.

With all the political support, it seems like we will only get our HPC when an external crisis hits.

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Not including the 90k profit on the original house, and broke even inc. mortgage payments v.s rent. I did have a exact to the penny spreadsheet at one point where I was upon on the deal in about 2006, so another 8 years with mortgage at 300pm vs £1000 ish rent. Bigger mortgage now, with a big leap, but I could pay it off with no penalty.

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Not including the 90k profit on the original house, and broke even inc. mortgage payments v.s rent. I did have a exact to the penny spreadsheet at one point where I was upon on the deal in about 2006, so another 8 years with mortgage at 300pm vs £1000 ish rent. Bigger mortgage now, with a big leap, but I could pay it off with no penalty.

So you pretty much paid off the first house (must have in order to keep the 90k profit), as you then got a 205k house with a small mortgage (how else is this possible), therefore all this is earned income

You then took out a large mortgage as the 205k house broke even

but you can apparently pay that off with cash and avoid CGT (no idea how that would work but anyways)

But rather than all this being based on earned money (as every one of your posts details) we are all supposed to go "wahoo! he massively overpaid for a house but its brilliant"

Im gonna go with "NO!"

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Can't even throw back possibility Lizza is struggling to sell in the Cotswolds. (She's already bought a different house elsewhere.)

Looks like it's Under Offer. Was asking £9m before it went to POA.

http://www.housepricecrash.co.uk/forum/index.php?/topic/204490-ea-used-by-liz-hurley-goes-bust/

http://www.rightmove.co.uk/property-for-sale/property-50330935.html

As you'd expect in this market where hpcers think buyers are victims/pure innocent, 'BTLers have stopped buying', 'London prices are collapsing' etc etc etc. :rolleyes:

Edited by Venger

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So you pretty much paid off the first house (must have in order to keep the 90k profit), as you then got a 205k house with a small mortgage (how else is this possible), therefore all this is earned income

You then took out a large mortgage as the 205k house broke even

but you can apparently pay that off with cash and avoid CGT (no idea how that would work but anyways)

But rather than all this being based on earned money (as every one of your posts details) we are all supposed to go "wahoo! he massively overpaid for a house but its brilliant"

Im gonna go with "NO!"

Erm, first house made 90 k increase in selling price over 4 years. Downsized to second, extended, and soid for 100k more 10 years later. Have cash in bank with nothing worth (done pension / isa's) doing than buying bigger place as single property /home is best investment to avoid CGT. Did not overpay (for any of them it seems..)

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I was 24.

I was 20 in 1997. But I was flat broke living on beans and toast until I was about 30, the horse was long bolted by the time I could actually do something about it.

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Was paying £750 rent on 2 bed flat, first mortgage payment was £600 on 3 bed terrace 1997 - I remember laughing at advisor as this doubled our disposable income. Yes buildings insurance, laughable contents as no possessions but it made all the difference. Had scraped deposit though.

But yes, those 4 years would have made a difference. Six months later I couldn't have done it. Sorry.

Edited by didntbuytolet

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Erm, first house made 90 k increase in selling price over 4 years. Downsized to second, extended, and soid for 100k more 10 years later. Have cash in bank with nothing worth (done pension / isa's) doing than buying bigger place as single property /home is best investment to avoid CGT. Did not overpay (for any of them it seems..)

Well im glad you think so

But next time you make up a load of old troll bull, try making the story add up <_<

100k more in 10 years, mortgage was only £300 a month... broke even apart from extension.... suddenly 3/4 million house and boom less than 2 years later its worth a million

While im typing this im sure its now worth 2 million... :rolleyes:

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Paid down mortgage every chance we got to get to low payments, paid it off, then had cash, which is why we are where we are. And yes, sorry but there you go. Just telling it how it happened.

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Was paying £750 rent on 2 bed flat, first mortgage payment was £600 on 3 bed terrace 1997 - I remember laughing at advisor as this doubled our disposable income. Yes buildings insurance, laughable contents as no possessions but it made all the difference. Had scraped deposit though.

But yes, those 4 years would have made a difference. Six months later I couldn't have done it. Sorry.

Really? Jeez.

I got my first rented place at 22, one bedroom flat, £325 a month. I thought that was expensive. So that gives an idea as to my budget at the time...

Silly me. :D I imagine the rent on that place is at least double that now.

Edited by EUBanana

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I've been on here a lot longer than my profile and we agonised about buying in '97 in Shitty S. London, just managed it. We left London in 2003 (selling for £90k more) for a sensibly priced (205k, small mortgage) home to raise a family in, and after 10 years and a change in circumstance (business going well fook all else to do with the cash and avoid CGT) bought a massive family house in a desirable area (cotswolds) last year for £750k. 250 year old totally upgraded cotswold stone mansion in my eyes, and everyone else's.

Big mortgage, but cash in the bank to pay it off.

I fully agree houses are overpriced, I fear how my kids will manage, but new build 4 bed boxes in my immediate area are now £450k - £500k. We made £90k on the London house, about broke even on the sensible house once the extension + mortgage was taken into account (so it was effectively free housing for ten years), and seeing what properties here are now going for we got a ridiculous bargain - not the same house but more like a million for similar.

I won't move again but to downsize now (early 40's, spare wing, spare outbuilding / tiny cottage & 0.5 acre) and if there is a crash I'm (nearly) immune - but systemic political propping up has achieved me the house of my dreams. Thanks Tony/Gordon/David.

If I'd have STR I would have been fooked, if I had not bought I would have been fooked, If I had BTL in '97 when we could have I would be retired but I'm not a total, total capitalist ******* and was politically opposed..

Food for thought. Not trolling, I've been immensely lucky, but there is no HPC.

Least your figures add up with what you've posted previously.. or at least the start ones from first glance.

S'funny HPC. So many you knew were HPIers from the beginning, but others surprise you too (hello CB). Enjoy your journey; £750K+ home purchase with no hpc.

Mind you, I bought in 1999 for 175,000, mortgage 72,500 moved in 2003 sold for 289,000 bought (downsizing) for 205,000 mortgage 35,000, extended 2005 for 63,000 made nice, modern, clean and warm family house, 59k to go on mortgage, overpaying like nobodys business, much much better experience than renting over that period as well..its not all bad,.....

We were 2k overdrawn last week, and HSBC called today to see if we had any "external pressures" they could "help us" with. Nope, just waiting for the new tax year before we pay another divvy in. Had a similar call last week regarding the business banking - how was everything going? ok were we?

Some serious checking up as the accounts are fine actually.

Oh Yawn. I got made redundant while on Mat leave and threatened with it while pregnant. Fortunately it was great (11k I wasnt banking on), and I was relocating anyway.

You're female, early thirties, married - do you think it crosses the mind of the 48 year old bloke interviewing you that you might get up the duff soon? Of course it does. There is no equality. Forget it. If you are male, you are on a winner.

Period smile.gif

Mr didntbuytolet last month allowed me to buy a woodburning stove in case the SHTF and a new fridge freezer (in case it doesnt but we get hyperinflation) but the old one was clapped out and second hand anyway. When I phoned to order it I was told all white goods manufacturers were putting their price up by 5-10%, and up to 30% in one case, on the 1st of February, so get in quick. I also noticed that the price of the smeg fab 30 fridge/freezer iconic but a bit rubbish actually on the john lewis website went from £999 before xmas to £1200 last week.

I am now working on letting me buy a new bike. Then I'll be buying nothing. Ammo. Thanks.

90k of the "value" of the house is pure profit from a downsizing move out of london, plus from the moment we stopped renting and bought in 1997 the mortgage payments have been lower than the rent for the old shitty flat. So a lot of its paper money, and I like my house, so I'm not bovvered. When the house is worth less than 90k I'll consider myself relatively down on the deal, but hey, I've got somewhere nice to live.

I don't have to send back the paperwork to confirm the fix until May 7th. Given the SVR is going down to 3% I'll wait and see, and rollover to another fix where I will again hoard the paperwork if possible. WTSHTF on the inflationary front then I'll send in the paperwork....

I don't know the town _that_ well but S on S is hardly shitsville is it. Its very nice indeed, compared say to Banbury locally. Now when you compare it to say Slough, Rochdale, or Aberdare, its quite posh AND the surrounding area is lovely. Look at the prices in parts of Banbury - 200k for a nasty ex council terrace on one of the worst council estates in Britain...

- "You want your friend to lose money?"

This is the House Price Crash forum you know...

Buy Gold + 1. and personally I'd buy several rolexes. Excellent way to store cash, and If the other half had left me buy one when I wanted I'd be a grand up in value, and would be wearing a nice watch.

Have built up cash reserves in a UK LTD co (small biz) and am getting worried that the shits going to hit the fan. Its all with the HSBC, so banking guarantee applies to 80k only, have looked into other options but small welsh building socs look scarier than keeping it in the HSBC. Obviously drawing it out will attract corporation tax - but this represents lifetime savings. What would you do with it given the Euro might go...

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