spyguy Posted October 8, 2015 Share Posted October 8, 2015 https://houseprices.io/?q=+Bridleways+Church+Lane+Shipdham+Thetford+ Bought for 445K in 2002. Probably worth 450K now? Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 https://houseprices.io/?q=+Bridleways+Church+Lane+Shipdham+Thetford+ Bought for 445K in 2002. Probably worth 450K now? Wouldn't pay £4.50 for it but hey that's why the world is interesting. Not everyone likes or does the same thing. Quote Link to comment Share on other sites More sharing options...
Venger Posted October 8, 2015 Share Posted October 8, 2015 If you stripped out the bling, it's a good functional house for those with a big family. 5 bedrooms and so many ensuite. It has more land than you're actually after. (Too remote looking for me.. I want a semi-detached in thick of suburbia.. with driveway and at least something of a garden). A few more BTLers selling up to meet changed financial circumstances, caught in the pincer, and it may bring down wider values of other such homes. For you to get the house you want in UK rather than abroad. Let them off the CGT, and less likely the BTLers have to bring their own homes to market. All of it through no debt, no BTL and I have scars to prove it. My dream home (note I said home not house or pension) is a modest energy efficient 3 bed (think 100-120 m^2) on a little land (think 1/3 to 1/2 an acre). It's a shame I can't get that here so I'll just have to go elsewhere. This recently sold in Mark 118's postcode. Wouldn't be complaining as much about house prices if could buy something like that in my area at that price (although the 2009 price more like it). http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=46895546&sale=1545916&country=england Not much on the market in that area, but his house is highest asking price. http://www.rightmove.co.uk/property-for-sale/Shipdham.html Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 If you stripped out the bling, it's a good functional house for those with a big family. ... If I have to strip out all the bling then I might as well rebuild a wreck or build one from scratch. No point paying for the bling if it's not your thing IMHO. Quote Link to comment Share on other sites More sharing options...
BalancedBear Posted October 8, 2015 Share Posted October 8, 2015 Homelessness is a much wider term. A lot of homeless people are housed, but they're housed in temporary accommodation (temporary in the sense of their right to occupy it, not in the likely duration of the building, obviously). I didn't mean to belittle the plight of those who are rough sleeping - it is an absolute disgrace that anyone at all ends up rough sleeping in the UK in this day and age - but it does seem to me that if there were a genuine shortage of physical housing then it would be a much larger problem than it currently is. I suspect that part of the reason for the disconnect between your own experience and the official statistics may be that the number of people who appear to be rough sleeping during the day and who actually are rough sleeping at night differ, though of course the statistics themselves are in any case only a rough guide as it's very hard to collect precise data on this issue. Well there are no doubt many people renting rooms in houses and even living in sheds like in Slough and other similar places, which they would not do if homes were cheaper and more plentiful. As homes get more expensive, more subdivision of exiting homes takes place. Quote Link to comment Share on other sites More sharing options...
BalancedBear Posted October 8, 2015 Share Posted October 8, 2015 If a rental property is sold into owner occupation then: one less rental property + one less family renting = no change in the overall ratio of rental properties to renters This is basic maths that a primary school child could do. Only if they have a very simplistic mind too. Your assumption is based on everyone choosing to rent actually renting. How many people are there who want to rent, let alone buy, but are looking for somewhere and are living at home or in shared houses etc. Removing one rental property does not mean that rental demand will be reduced by an equal amount. Quote Link to comment Share on other sites More sharing options...
Venger Posted October 8, 2015 Share Posted October 8, 2015 (edited) If I have to strip out all the bling then I might as well rebuild a wreck or build one from scratch. No point paying for the bling if it's not your thing IMHO. Hehe; yes, but I wasn't suggesting paying today's prices. For the BTLers in the £700,000 - £1m+ homes, caught hard in the higher-tax and CGT trap, Serpico in the late 70s comes to mind. Before he too danced too hard at the top of the layer cake, airplanes, bling and toy,s and lost his house and businesses. And a neurosurgeon bought it dirt cheap in early 90s (before selling it in toppy market in 2005). HMRC needs to remember what it did in the past. No CGT let-offs for those who have indulged in BTL speculation. In 1976 I was offered a house by the boss of the business next door an E.A it was in Burton on the Wirral very expensive and exclusive area, five bed bungalow four car garage 3 are garden, paddock, and large 7 acre field, it had a massive sandstone wall frontage with double gates at each end, he showed me brochure £59K it had been empty and overgrown for a few years I knew the place and laughed it him, he persisted and offered the keys and told me to have a look inside and around the back. I took the wife for a look, massive gravel drive and frontage was knee deep in grass and the garfens were overgrown and inpenatrable, the inside of the house was huge the lounge was 46ft, the kitchen was old and dated with a rayburn and the huge bsathroom was antique with black tyling and what like a ships boiler room showet it had two sets of french windows one from the lounge and one from the master bedroom/dressing room leading onto a massive raised patio with steps to the gardens, the view across the river dee to north Wales was stunning, all the windows and french windows were old steel framed. The wife loved it but it wanted a lot spent, I went back and told the guy no way at £59K, he opened a folder and slid a letter out just as far as the heading HM Customs & Excise VAT Recovery was all I could see, bid me at it? okay £15K it want;s a fortune spending and a years work, he told me to piss off I was not going to nick it, it had been subject of a Court charging order and a four Court battle with the Wirrakls biggest Audi/VW dealer who had gone bus. I eventually went £30 and got it, the wife spent a year and £35k (thirty years ago) Totally gutted new kitchen etc new tramacked drive sandstone wall rebuilt with two sets of 9ft Oack gates new tarmac deive to the paddock four stable block and tackroom and a new full size all weather riding menage. We had a housewarming garden party three knights of the realm and members of government members , Japanese company bosses from Handa Yamaha and Suzuki and government Minister of Transport who is now a peer. Nice? live in Australian groom, top class hunters in the stables, gardener, Bentley T11 and the wifes Mercedes 450se in the garage, lovely jubbly. I had just a 9K mortgage on the place, it sold a year last may for £985K. I was also sponsoring a 10 time Isle of man T.T winner and and world champion motor cycle racer plus a couple of good blokes on a sidecar outfit. £985K great stuff the trouble is it was NOT SOLD BY ME!!!, Not the end of the story but my eyes are aching, going for a walk along the stunning Atlantic coat of Ireland with the dog then I will come back and tell you how it all goes pear shaped, not only for us but ten of thousands of others many close friends one for £50 MILLION. Edited October 8, 2015 by Venger Quote Link to comment Share on other sites More sharing options...
billybong Posted October 8, 2015 Share Posted October 8, 2015 Btl Investors: 'let Us Off Capital Gains Tax And We'll Sell To First-Time Buyers' They must think they're bankers or something. Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 8, 2015 Share Posted October 8, 2015 If I have to strip out all the bling then I might as well rebuild a wreck or build one from scratch. No point paying for the bling if it's not your thing IMHO. If you removed the bling the house would fall down. I've only be to Norfolk once, when I was very young. The only thing I remember is it was muddy and had large rodents roaming around. Seeing a squashed Coypu on the road was the one and only highlight of the trip. If I remember correctly, the government had a program to eradicate Coypu from the fens in the 80s. Looks like they've started on another type of large, fen swelling rodent ... Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 Hehe; yes, but I wasn't suggesting paying today's prices. For the BTLers in the £700,000 - £1m+ homes, caught hard in the higher-tax and CGT trap, Serpico in the late 70s comes to mind. Before he too danced too hard at the top of the layer cake, airplanes, bling and toy,s and lost his house and businesses. And a neurosurgeon bought it dirt cheap in early 90s (before selling it in toppy market in 2005). HMRC needs to remember what it did in the past. No CGT let-offs for those who have indulged in BTL speculation. I have no interest in the big house, the flash cars or being around people who value you by what you have not by who you are. I'm looking for simplicity and no consumerism which will free time for what really matters. I'm still working on location for the home: - Southern Italy is out after plenty of in country research - In Southern Spain it will cost circa EUR300-350k before offers - In Malta it will cost EUR350-400k. I won't get the land but that's the price you pay for living on a small island. - In the UK it will cost circa £400k (EUR550k) to build, buying would be more than I am prepared to pay. The cost of land is part of the problem and finding it is also problematic. The builder is the easy bit. The big disparity in costs is just one reason why the Med looks good right about now. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted October 8, 2015 Share Posted October 8, 2015 Well there are no doubt many people renting rooms in houses and even living in sheds like in Slough and other similar places, which they would not do if homes were cheaper and more plentiful. As homes get more expensive, more subdivision of exiting homes takes place. Only if they have a very simplistic mind too. Your assumption is based on everyone choosing to rent actually renting. How many people are there who want to rent, let alone buy, but are looking for somewhere and are living at home or in shared houses etc. Removing one rental property does not mean that rental demand will be reduced by an equal amount. It would take a very simplistic mind indeed to fall for that given most housing in the UK is currently under occupied. Compare and contrast the number of bedrooms per household with the number of people per household: Homeownership and renting in England and Wales - detailed characteristics Again, very basic maths. Quote Link to comment Share on other sites More sharing options...
pipllman Posted October 8, 2015 Share Posted October 8, 2015 I have no interest in the big house, the flash cars or being around people who value you by what you have not by who you are. I'm looking for simplicity and no consumerism which will free time for what really matters. I'm still working on location for the home: - Southern Italy is out after plenty of in country research - In Southern Spain it will cost circa EUR300-350k before offers - In Malta it will cost EUR350-400k. I won't get the land but that's the price you pay for living on a small island. - In the UK it will cost circa £400k (EUR550k) to build, buying would be more than I am prepared to pay. The cost of land is part of the problem and finding it is also problematic. The builder is the easy bit. The big disparity in costs is just one reason why the Med looks good right about now. A lot could change between now and the time you are ready to move couldn't it? Not just here, but in Italy, Spain and other countries too. Have you looked further afield too - like Panama, Uruguay, Canada, New Zealand, Australia? Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 A lot could change between now and the time you are ready to move couldn't it? Not just here, but in Italy, Spain and other countries too. Have you looked further afield too - like Panama, Uruguay, Canada, New Zealand, Australia? I have about 18 months or so to go as long as Mr Market behaves himself. At that point I'd be 44. If Mr Market doesn't then I won't be to worried and will just continue with the strategy until I make the finish line. After all I'm not yet an old man Hopefully not to much will change for an Average Joe by then but if it does then I'm sure I'll adapt. Just like I did when I couldn't afford an over priced London home in 2007. I've looked at Aus but to be honest I like the culture and history of a few European countries better. Not looking for a tax haven either so those Central American countries hold little attraction. Quote Link to comment Share on other sites More sharing options...
pipllman Posted October 8, 2015 Share Posted October 8, 2015 Panama is the only one I mentioned that could be regarded as a tax haven. Uruguay, along with Costa Rica, offers a potentially very high standard of living for not a lot of poke. I know a couple of Americans and Brits that have gone to both in the last 6 years or so and there is no prospect of them ever wanting to come back - none Appreciate what you are saying about the European culture & history though Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 8, 2015 Share Posted October 8, 2015 I have no interest in the big house, the flash cars or being around people who value you by what you have not by who you are. I'm looking for simplicity and no consumerism which will free time for what really matters. I'm still working on location for the home: - Southern Italy is out after plenty of in country research - In Southern Spain it will cost circa EUR300-350k before offers - In Malta it will cost EUR350-400k. I won't get the land but that's the price you pay for living on a small island. - In the UK it will cost circa £400k (EUR550k) to build, buying would be more than I am prepared to pay. The cost of land is part of the problem and finding it is also problematic. The builder is the easy bit. The big disparity in costs is just one reason why the Med looks good right about now. Wise avoiding Southern Italy - frankly Rome and below should be given a wide berth. The figures for Spain + Malta look wrong. Th nicer bits of Spain -Catalonia - has delas which can be made. If you wany to build then the cost should be pretty cheap. But building makes little sense when you can buy a place before the cost of the land materials and labour. Malta - and prices you see are a big con. If you are avoiding Southern italy, then avoid Malta - its a lot more corrupt. Its African corrupt rather then Mediterranean corrupt. Frankly, I would never put money in Malta. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 8, 2015 Share Posted October 8, 2015 (edited) I have about 18 months or so to go as long as Mr Market behaves himself. At that point I'd be 44. If Mr Market doesn't then I won't be to worried and will just continue with the strategy until I make the finish line. After all I'm not yet an old man Hopefully not to much will change for an Average Joe by then but if it does then I'm sure I'll adapt. Just like I did when I couldn't afford an over priced London home in 2007. I've looked at Aus but to be honest I like the culture and history of a few European countries better. Not looking for a tax haven either so those Central American countries hold little attraction. Rep of Ireland or Northern Ireland? I'd have thought the southern end of Ireland especially might have a pretty acceptable climate, not sure about ferries/flights to Britain tho also Northern Spain - handy for Santander for ferries to blighty and arguably the most beautiful (and unknown) part of Spain. Big city for big city stuff in Bilbao too. Edited October 8, 2015 by Si1 Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 Wise avoiding Southern Italy - frankly Rome and below should be given a wide berth. The figures for Spain + Malta look wrong. Th nicer bits of Spain -Catalonia - has delas which can be made. If you wany to build then the cost should be pretty cheap. But building makes little sense when you can buy a place before the cost of the land materials and labour. Malta - and prices you see are a big con. If you are avoiding Southern italy, then avoid Malta - its a lot more corrupt. Its African corrupt rather then Mediterranean corrupt. Frankly, I would never put money in Malta. Spain wise looking further south - inland Valencia is one region. Have no intention of building there. Will rent first for at least 6 months to ensure it's us. Appreciate a deal to be done which is why I said 'before offers'. Haven't done any in country research of Catalonia other than Barcelona itself. What makes you say it's one of the 'nicer bits'? Appreciate Malta is a bit more avante-garde. Have spent plenty of time in country during all seasons and for some reason just really like the place once out of places like Sliema/St Julians. What makes you say prices are a big con? Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 Rep of Ireland or Northern Ireland? I'd have thought the southern end of Ireland especially might have a pretty acceptable climate, not sure about ferries/flights to Britain tho also Northern Spain - handy for Santander for ferries to blighty and arguably the most beautiful (and unknown) part of Spain. Big city for big city stuff in Bilbao too. Haven't spent any time in N Ireland but if we're relocating we're looking for warmer climes thus the Med countries at this point. Republic of have only holidayed in and while it's a lovely country it's not for us. Also find the prospect of becoming fluent in a new language via immersion quite appealing. After all we'll be retired so will have plenty of time for learning new things. When you say Northern Spain are you meaning somewhere like Asturias? If yes, again a region I haven't explored. What makes you say it's beautiful? The challenge really is that when you don't have to find a job Europe really opens up. So much history, culture and beauty. The problem then becomes how do you find home without being a nomad for the next 10 years. Quote Link to comment Share on other sites More sharing options...
Venger Posted October 8, 2015 Share Posted October 8, 2015 Rep of Ireland or Northern Ireland? I'd have thought the southern end of Ireland especially might have a pretty acceptable climate, not sure about ferries/flights to Britain tho also Northern Spain - handy for Santander for ferries to blighty and arguably the most beautiful (and unknown) part of Spain. Big city for big city stuff in Bilbao too. Extremadura; old Spain; from the country’s finest Roman ruins to beautiful medieval cities and villages [..]If food is your thing, you'll love it here. Looks like cowboy country - big skies. A bit too remote for me... but looks peaceful. Maybe in another life, or to visit. http://www.lonelyplanet.com/spain/extremadura I want to be near hospitals / life etc. Also I would always rent rather than buy in a foreign country (unless it was super value in the future, leaving UK totally behind and into retirement, like in cheap apartment in Spain - which is where more UK older HPIers should be downsizing to again). YouTube: When Carlos Alonso and his sister Camino (partners at Madrid architecture firm Ábaton) were looking for a country home for their extended family, they stumbled upon an abandoned stable in rural Extremadura, Spain and recognized it as a special place. High on a hill and far from city water or an electrical grid, the crumbling cow shed was far from the conventional image of luxury estate, but Carlos and Camino could envision a transformation. This part of the province of Cáceres (near the Portuguese border) has been home to generations of cattle ranchers and the Alonsos recognized the wisdom those who came before them. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted October 8, 2015 Share Posted October 8, 2015 As I have my wealth spread over many smaller things than an over priced illiquid 'asset' I try and always use my £11,100 CGT tax free annual allowance. I also maximise S&S ISA contributions as gains within are also CGT free. Do you have any other methods as I'm more than happy to invest in the productive economy? EISs, VCTs - 30% income tax relief too Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted October 8, 2015 Share Posted October 8, 2015 (edited) Yeah, the recent changes to ISA rules have done a lot to make it even easier to avoid CGT unless you're a lot richer than a mere city banker. For the vendor with a big single gain like £100k on a house, reinvesting in EIS-qualifying investments would kill off the CGT bill. And get you a juicy break on income tax (that's what I take advantage of). And finally, if an investment makes a profit it's CGT-free, but if it makes a loss you can offset that against tax all over again. EIS CGT deferral not elimination Edited October 8, 2015 by Killer Bunny Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 8, 2015 Share Posted October 8, 2015 . When you say Northern Spain are you meaning somewhere like Asturias? If yes, again a region I haven't explored. What makes you say it's beautiful? The challenge really is that when you don't have to find a job Europe really opens up. So much history, culture and beauty. The problem then becomes how do you find home without being a nomad for the next 10 years. I backpacked there once. The locals tell you it's the most beautiful place in the world and they're not far wrong. Rugged upland scenery and 10000 foot mountains immediately on the coast. It's pretty unique, and they get spectacular sunsets over the bay of Biscay, together with wonderful sea food. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 8, 2015 Share Posted October 8, 2015 Extremadura; old Spain; from the countrys finest Roman ruins to beautiful medieval cities and villages [..]If food is your thing, you'll love it here. Looks like cowboy country - big skies. A bit too remote for me... It's on the ave/tgv line to Madrid these days. Not so remote. But f###ing hot. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 Extremadura; old Spain; from the country’s finest Roman ruins to beautiful medieval cities and villages [..]If food is your thing, you'll love it here. Looks like cowboy country - big skies. A bit too remote for me... but looks peaceful. Maybe in another life, or to visit. http://www.lonelyplanet.com/spain/extremadura I want to be near hospitals / life etc. Also I would always rent rather than buy in a foreign country (unless it was super value in the future, leaving UK totally behind and into retirement, like in cheap apartment in Spain - which is where more UK older HPIers should be downsizing to again). Our aim is that our new country doesn't feel like a foreign country but instead becomes home. With a bit of luck should be 30 years or more before I become decrepit. Before then would definitely move from a more regional location into a walkable town. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 8, 2015 Share Posted October 8, 2015 I backpacked there once. The locals tell you it's the most beautiful place in the world and they're not far wrong. Rugged upland scenery and 10000 foot mountains immediately on the coast. It's pretty unique, and they get spectacular sunsets over the bay of Biscay, together with wonderful sea food. Sounds like it requires a scoping visit before FIRE. Can you name some small towns that would be good to be close to as a starting point? Quote Link to comment Share on other sites More sharing options...
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