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Last week. That is all. 

Done it twice - found it a bit high wire to be honest and later in life with a family 

First time 2007 - 2009 worked out fine plenty of decent available houses to rent and rent paid by interest on money in bank bought a house £150k cheaper than previous owner 

Second time 2017 - 2018 low rates so out of pocket on rent but just a dent in profit on house above 

Also supply of houses to rent rubbish compared to before 

Served its purpose 

Good luck 

 

 

Edited by GregBowman
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Done it twice - found it a bit high wire to be honest and later in life with a family 

First time 2007 - 2009 worked out fine plenty of decent available houses to rent and rent paid by interest on money in bank bought a house £150k cheaper than previous owner 

Second time 2017 - 2018 low rates so out of pocket on rent but just a dent in profit on house above 

Also supply of houses to rent rubbish compared to before 

Served its purpose 

Good luck 

 

 

It's ok, I can panic out and buy my long term family home anytime I please. Not doing it to make some huge moonshot or expecting huge falls. Just wanting a bit of a "buyers market" so I can optimise this last move.

Near me there are a load of people still holding onto small family homes as long term capital appreciation plays who want "good" tenants. So it is easy to rent something half decent. Rental yields are c.3%. 

 

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2 hours ago, LetsBuild said:

I handed in my notice and moved back to my parents last month. I was renting a nice city centre flat but working from home meant what used to work pre covid was no longer appropriate. Looking to buy in the spring.

This is interesting as it just shows those who were renting to be close to work in say an expensive area are finding themselves working from home, which in turn means they don't need to rent the center flat, so they stop renting (makes sense)

then with a load of savings from not renting, and now a bit of a kick to buy, suddenly on mass you have a wall of buyers.

does sadly mean it might be a terrible time to buy being just one of many buyers. 

Just another factor adding to the sellers market, coupled with those who are sick of the same four walls and being stuck with small kids for 6 months, creates a bit of a perfect storm for a bubble

also could mean a bit of the brakes slamming on early next year, just depends how the economy does, DIY probably will do well, while other sectors are crushed.  

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It's ok, I can panic out and buy my long term family home anytime I please. Not doing it to make some huge moonshot or expecting huge falls. Just wanting a bit of a "buyers market" so I can optimise this last move.

Near me there are a load of people still holding onto small family homes as long term capital appreciation plays who want "good" tenants. So it is easy to rent something half decent. Rental yields are c.3%. 

 

Nice position to be in

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Done it twice - found it a bit high wire to be honest and later in life with a family 

First time 2007 - 2009 worked out fine plenty of decent available houses to rent and rent paid by interest on money in bank bought a house £150k cheaper than previous owner 

 

 

 

Almost ditto, sold August 2007, bought back in March 2009.  First kid born 2006.  Bought house for 230k that was selling in 2006 for 350k.

If have not bought back in again within 18 months - 2years tops, you got the timing wrong.

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Almost ditto, sold August 2007, bought back in March 2009.  First kid born 2006.  Bought house for 230k that was selling in 2006 for 350k.

If have not bought back in again within 18 months - 2years tops, you got the timing wrong.

Deffo totally agree

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Almost ditto, sold August 2007, bought back in March 2009.  First kid born 2006.  Bought house for 230k that was selling in 2006 for 350k.

If have not bought back in again within 18 months - 2years tops, you got the timing wrong.

Even if the market is still falling?

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Maybe I understand what you mean but as with everything in life timing is everything

Quite. i did three on the bounce, bought 1st house 1996, sold in 2007, bought 2nd in 2009, sold in 2016, before Brexit vote, bought 3rd house in 2016, after Brexit vote.  We shouldn't be living in a £600k house, but we do.

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Quite. i did three on the bounce, bought 1st house 1996, sold in 2007, bought 2nd in 2009, sold in 2016, before Brexit vote, bought 3rd house in 2016, after Brexit vote.  We shouldn't be living in a £600k house, but we do.

Id be happy with a 100K house that I own

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Last week. That is all. 

Yeah my parents did that in 2003 - based on a sale last year a few houses up, they have lost out on about £400k of appreciation and counting, so about £23,500 a year. Oh, and they are having to pay rent out of their pensions every month, and have to put up with the usual landlord inspections and rent reviews in their 70's. No thanks. 

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Yeah my parents did that in 2003 - based on a sale last year a few houses up, they have lost out on about £400k of appreciation and counting, so about £23,500 a year. Oh, and they are having to pay rent out of their pensions every month, and have to put up with the usual landlord inspections and rent reviews in their 70's. No thanks. 

*Not permanently.

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I think that only happened once, from 1989 to 1996. I might be corrected.

again we are the same page bought a flat in 88 sold for same price in 96 - even for the era highly unusual. I think your right re the timing thing - when the market up it turns quick. Getting back in this time was a bit touch and go (2018) without compromising area or type of house.

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Quite. i did three on the bounce, bought 1st house 1996, sold in 2007, bought 2nd in 2009, sold in 2016, before Brexit vote, bought 3rd house in 2016, after Brexit vote.  We shouldn't be living in a £600k house, but we do.

400k mortgage though 😂

i may copy you, but then 600k would only buy me a chithole 

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again we are the same page bought a flat in 88 sold for same price in 96 - even for the era highly unusual. I think your right re the timing thing - when the market up it turns quick. Getting back in this time was a bit touch and go (2018) without compromising area or type of house.

Was the MIRAS ending cliffedge, about Sept 1988 wasn't it, crash started 1st October 88. I was only 19 at the time and living at home so buying a house/ flat was far far from my mind, My Black Mk 1 Fiesta XR2 was far more important. A891 NKX. 

Had a mates sister working in a building society back in 1988, she always said how mental work was until after the deadline then nothing to do for months.

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Quite. i did three on the bounce, bought 1st house 1996, sold in 2007, bought 2nd in 2009, sold in 2016, before Brexit vote, bought 3rd house in 2016, after Brexit vote.  We shouldn't be living in a £600k house, but we do.

How have you ridden the naughties bubble, top ticked and bottom ticked GFC, reloaded pre and post Brexit AND only got 350k equity? 

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  • 433 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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