Sprite Posted November 16, 2020 Share Posted November 16, 2020 Good luck and it is an achievement to buy without a mortgage. As previously stated on this thread, I would say never to underestimate the cost of moving in and buying stuff as this can escalate. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted November 16, 2020 Share Posted November 16, 2020 Lol. Ignore. Its a transaction right up until you exchange. If you went into a shop and the item you wanted was maybe, perhaps out the back.. it is perfectly within your rights to try down the road to see if its available elsewhere. You would be mad not to. Agree. If they haven’t categorically accepted your offer and removed the property from the market...then the game is still afoot. Once’s it’s all accepted that’s slightly different but only slightly. I have never walked away from an agreed sale but only because I have been robbing someone blind in the first place 😆😆 And good luck with it all. We all agree prices are balmy but we will never all agree about what happens next or what we should do about it 😉 Quote Link to comment Share on other sites More sharing options...
Pop321 Posted November 16, 2020 Share Posted November 16, 2020 Lol. Ignore. Its a transaction right up until you exchange. If you went into a shop and the item you wanted was maybe, perhaps out the back.. it is perfectly within your rights to try down the road to see if its available elsewhere. You would be mad not to. Agree. If they haven’t categorically accepted your offer and removed the property from the market...then the game is still afoot. Once’s it’s all accepted that’s slightly different but only slightly. I have never walked away from an agreed sale but only because I have been robbing someone blind in the first place 😆😆 And good luck with it all. We all agree prices are balmy but we will never all agree about what happens next or what we should do about it 😉 Quote Link to comment Share on other sites More sharing options...
Pop321 Posted November 16, 2020 Share Posted November 16, 2020 I recommend the Golden Butterfly portfolio. DYOR. https://portfoliocharts.com/portfolio/golden-butterfly/ Thanks. I swore when I left work I would spend 2 days a month doing my finances ie saving myself about £5k a year on gas, insurance, media, phone, savings rates, investment charges....and I haven’t done it. Like everyone else I ended up working in the day (currently doing our hallway)...lucky I am busy but I need to research more than I do. 👍🏻👍🏻 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 16, 2020 Share Posted November 16, 2020 Does anyone else see the madness of buying a house right now ? Quote Link to comment Share on other sites More sharing options...
househunter123 Posted November 16, 2020 Share Posted November 16, 2020 Does anyone else see the madness of buying a house right now ? But if it ticks all the boxes and the bloke doesn't need a mortgage, that's huge. No debt and home for life. Poster didn't say which region though. I wish I was in his position!! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 16, 2020 Share Posted November 16, 2020 (edited) But if it ticks all the boxes and the bloke doesn't need a mortgage, that's huge. No debt and home for life. Poster didn't say which region though. I wish I was in his position!! No interest on the money, why is it no one ever remembers this ? House prices in many areas could halve, why would you spank your hard earned cash on a pwopatee knowing that. Given what's going on in the wider economy/world you would at least wait till this time next year. Edited November 16, 2020 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
captainb Posted November 16, 2020 Share Posted November 16, 2020 No interest on the money, why is it no one ever remembers this ? House prices in many areas could halve, why would you spank your hard earned cash on a pwopatee knowing that. Given what's going on in the wider economy/world you would at least wait till this time next year. Oh no! Not the 0.65%! how would he cope? Maybe he will take solace in not paying rent.. i wonder what will be more. Quote Link to comment Share on other sites More sharing options...
househunter123 Posted November 16, 2020 Share Posted November 16, 2020 Oh no! Not the 0.65%! how would he cope? Maybe he will take solace in not paying rent.. i wonder what will be more. Gotta agree there. Once you got your own home , nothing else really matters. Any other savings and investments are a bonus. Just out of interest. How did the OP save up that much? Investment? Quote Link to comment Share on other sites More sharing options...
24gray24 Posted November 16, 2020 Share Posted November 16, 2020 Just out of interest. How did the OP save up that much? Investment? It's a funny old world when no one can believe you saved up that much by...working. I suppose "my family ran a cash business and kept 2 sets of books" would not be acceptable either. Quote Link to comment Share on other sites More sharing options...
GregBowman Posted November 16, 2020 Share Posted November 16, 2020 Thanks. I swore when I left work I would spend 2 days a month doing my finances ie saving myself about £5k a year on gas, insurance, media, phone, savings rates, investment charges....and I haven’t done it. Like everyone else I ended up working in the day (currently doing our hallway)...lucky I am busy but I need to research more than I do. 👍🏻👍🏻 I think it helps if you have run a business you would be more obsessed with your ‘run rate’ because you learn quickly it’s easier to cut a cost rather than get the next deal one is somewhat in your control one less so I have always tried to focus on my big rocks old video but message still great Quote Link to comment Share on other sites More sharing options...
user not found Posted November 16, 2020 Share Posted November 16, 2020 It depends how long you can sustain it (10 miles/time involved?) and what the pay off may be. We had a ridiculous schedule for a 9 month period as we had to drop off our bairns at two different nurseries. They had overbooked places, and we were told this at the last minute I.e. just before my return to work, having been previously offered a place! When we look back, we do so in disbelief and have no idea how we accrual managed it with jobs 'n' all, but we did. It entailed lots of juggling, v early starts and journeys during rush hour with a buggy for my husband, while I ferried the younger one by car. Stress all around! Thankfully, the children joined each other eventually. Ps I would probably do the journey rather than change schools but it depends on your circumstances. If the children are happy, I would be less inclined to do so but they do tend to settle more quickly than you may expect. Not always the case I know. We changed our children's primary school and I was very worried about doing this but they made the transition extremely well. I missed the old school 's network more than them! D'you know, I'm just tired. Tired of waiting for the crash, tired of renting sh*t houses from sh*t landlords. Tired of not being able to get a cat, and a pond. Tired of not being able to plant out the olive tree i bought when my 9yr old daughter was born. Tired of saying to my kids "when we have our own place". Tired of having stuff in storage. Tired of being evicted on a whim. And I really don't want to move again into a rental, and say "hopefully this time will be the last time". If I was younger, and hadn't lived in 9 rentals, i might rent again and put up with a 10 mile round trip to school twice a day. But I've had enough. I'm 43, I just want to sit in MY chair in MY garden, and think nobody can kick me out *** *** unless the economy tanks, and we lose our jobs, and go bankrupt ha ha Quote Link to comment Share on other sites More sharing options...
satsuma Posted November 16, 2020 Share Posted November 16, 2020 D'you know, I'm just tired. Tired of waiting for the crash, tired of renting sh*t houses from sh*t landlords. Tired of not being able to get a cat, and a pond. Tired of not being able to plant out the olive tree i bought when my 9yr old daughter was born. Tired of saying to my kids "when we have our own place". Tired of having stuff in storage. Tired of being evicted on a whim. And I really don't want to move again into a rental, and say "hopefully this time will be the last time". If I was younger, and hadn't lived in 9 rentals, i might rent again and put up with a 10 mile round trip to school twice a day. But I've had enough. I'm 43, I just want to sit in MY chair in MY garden, and think nobody can kick me out *** *** unless the economy tanks, and we lose our jobs, and go bankrupt ha ha We are the same age and I have been an owner since I was 26, I think if I was in your shoes I would buy on the basis that you can’t be a nomad any longer. In the end you probably won’t do very many or any of the things you plan to but at least you have the option. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted November 16, 2020 Share Posted November 16, 2020 D'you know, I'm just tired. Tired of waiting for the crash, tired of renting sh*t houses from sh*t landlords. Tired of not being able to get a cat, and a pond. Tired of not being able to plant out the olive tree i bought when my 9yr old daughter was born. Tired of saying to my kids "when we have our own place". Tired of having stuff in storage. Tired of being evicted on a whim. And I really don't want to move again into a rental, and say "hopefully this time will be the last time". If I was younger, and hadn't lived in 9 rentals, i might rent again and put up with a 10 mile round trip to school twice a day. But I've had enough. I'm 43, I just want to sit in MY chair in MY garden, and think nobody can kick me out *** *** unless the economy tanks, and we lose our jobs, and go bankrupt ha ha I don't think you will regret anything, beyond possibly not doing it earlier. I'm now mortgage free but I rented in the past, and nothing beats having your own gaff. Good luck, I am sure everything will work out for you. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted November 16, 2020 Share Posted November 16, 2020 We are the same age and I have been an owner since I was 26, I think if I was in your shoes I would buy on the basis that you can’t be a nomad any longer. In the end you probably won’t do very many or any of the things you plan to but at least you have the option. I think he'll mostly get peace of mind, which is the most important. Quote Link to comment Share on other sites More sharing options...
satsuma Posted November 16, 2020 Share Posted November 16, 2020 I don't think you will regret anything, beyond possibly not doing it earlier. I'm now mortgage free but I rented in the past, and nothing beats having your own gaff. Good luck, I am sure everything will work out for you. I agree with that, I cleared the mortgage last year, great feeling Quote Link to comment Share on other sites More sharing options...
longgone Posted November 16, 2020 Share Posted November 16, 2020 Every week that passes my mortgage is getting smaller. Quote Link to comment Share on other sites More sharing options...
Freki Posted November 16, 2020 Share Posted November 16, 2020 It's a funny old world when no one can believe you saved up that much by...working. I suppose "my family ran a cash business and kept 2 sets of books" would not be acceptable either. Well, he said he is cash buyer because he does not go to a bank. This is different from saying it is his own cash. He needs to borrow 30k outside his family. So his family has already been asked to chip in. It is cultural and religious, different to the English mindset. Personally we could buy cash between current savings and asking both our parents (and no one else). Am I ever going to ask? not a chance. Quote Link to comment Share on other sites More sharing options...
househunter123 Posted November 16, 2020 Share Posted November 16, 2020 Well, he said he is cash buyer because he does not go to a bank. This is different from saying it is his own cash. He needs to borrow 30k outside his family. So his family has already been asked to chip in. It is cultural and religious, different to the English mindset. Personally we could buy cash between current savings and asking both our parents (and no one else). Am I ever going to ask? not a chance. How comes? My parents and siblings have offers to chip in and buy a place outright but something just sits uneasy with me about it. Similar reasons? Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted November 16, 2020 Share Posted November 16, 2020 No interest on the money, why is it no one ever remembers this ? House prices in many areas could halve, why would you spank your hard earned cash on a pwopatee knowing that. Given what's going on in the wider economy/world you would at least wait till this time next year. Fantasy Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted November 16, 2020 Share Posted November 16, 2020 I think it helps if you have run a business you would be more obsessed with your ‘run rate’ because you learn quickly it’s easier to cut a cost rather than get the next deal one is somewhat in your control one less so I have always tried to focus on my big rocks old video but message still great Cost is all any business has full control of. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted November 16, 2020 Share Posted November 16, 2020 D'you know, I'm just tired. Tired of waiting for the crash, tired of renting sh*t houses from sh*t landlords. Tired of not being able to get a cat, and a pond. Tired of not being able to plant out the olive tree i bought when my 9yr old daughter was born. Tired of saying to my kids "when we have our own place". Tired of having stuff in storage. Tired of being evicted on a whim. And I really don't want to move again into a rental, and say "hopefully this time will be the last time". If I was younger, and hadn't lived in 9 rentals, i might rent again and put up with a 10 mile round trip to school twice a day. But I've had enough. I'm 43, I just want to sit in MY chair in MY garden, and think nobody can kick me out *** *** unless the economy tanks, and we lose our jobs, and go bankrupt ha ha That's one heck of a gestation period! Quote Link to comment Share on other sites More sharing options...
user not found Posted November 16, 2020 Share Posted November 16, 2020 That's one heck of a gestation period! 😂😂😂 Quote Link to comment Share on other sites More sharing options...
Pmax2020 Posted November 16, 2020 Share Posted November 16, 2020 Does anyone else see the madness of buying a house right now ? It depends what you’re looking for. If you’re looking at an entry level flat or modest semi that is literally one of 300 in an estate then I would agree you should just wait! There is no incentive to buy now because you have the ability to monitor prices on virtually a weekly basis. If on the other hand you’re looking for something that is dare I say it a bit more sought after or at the higher end of the market then you might not have the luxury of waiting. We are going to view a property that has the potential to be the best in a neighbouring village. It’s a 1930s, detached, 5 bed. It’s really spacious and on a huge plot with mature gardens and epic monkey puzzle trees! (Yup, I mentioned the trees). It’s inconceivable that the buyer will lose money on this place. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted November 16, 2020 Share Posted November 16, 2020 D'you know, I'm just tired. Tired of waiting for the crash, tired of renting sh*t houses from sh*t landlords. Tired of not being able to get a cat, and a pond. Tired of not being able to plant out the olive tree i bought when my 9yr old daughter was born. Tired of saying to my kids "when we have our own place". Tired of having stuff in storage. Tired of being evicted on a whim. And I really don't want to move again into a rental, and say "hopefully this time will be the last time". If I was younger, and hadn't lived in 9 rentals, i might rent again and put up with a 10 mile round trip to school twice a day. But I've had enough. I'm 43, I just want to sit in MY chair in MY garden, and think nobody can kick me out *** *** unless the economy tanks, and we lose our jobs, and go bankrupt ha ha I understand your position as I've been in a similar place before i.e. one of pure frustration but my desire for less debt maintained my resolve to wait a little longer having waited this long. Only in more recent times have we actually been in a position to buy a house without over-stretching ourselves. Your situation is quite different to ours (we have a reasonably secure roof over our head, which has been fundamental to our decision-making) and we live close to my family. You have so many additional factors influencing your position. Secondary school provision is also extremely important and for us being close to our children's schools was a godsend. The majority of their friends homes were/are in walking distance, which creates a real community spirit/bond with other families and makes balancing out of school activities and holidays far more manageable. If you're reasonably content to buy regardless of any house price falls that may follow, it is an easy decision along with the other reasons you cite. I can't recall the region you are looking at but it's probable that hpi will take longer to reach you compared to where I am - London. One can't put a price on security for your family so with this life-changing decision, only you can decide. If you've yet to exchange contracts, good luck with whatever you chose to do as whatever decision you make, it would have been the correct one at the time. Quote Link to comment Share on other sites More sharing options...
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