Jump to content
House Price Crash Forum
Sign in to follow this  
robster

Buying In Salisbury?

Recommended Posts

We've been renting here for about 3 years and live in a hosue we couldn't possibly afford to buy. We have recently had another baby (have a 3 year old too) and my husband is keen to buy even though we have both previously agreed that the present price levels are unsustainable.

We've now put in an offer for a hosue around the corner. It's for 220k for abog standard little house and the whole thing makes me feel sick.

Sorry, if this is not the place to post, but I feel like an isolated sole in a world where everyone just wants to talk equity and house prices. I don't give a shit about the fact that we rent. We are lucky enough to live in a lovely house. Our quality of life will drop and I'm sorried we'll lose all our savings.

aarrrgggggg......what to do......??? :unsure::unsure:

Share this post


Link to post
Share on other sites

Depends on how much debt you are taking. Buying a house with lots of over valued housing equity - good.

Buying a house with lots of debt - bad!

Salisbury suffers extreme cycles - prices go very high when they go up - Lots of London/SE buyers.

Then they fall through the fall as there are not the wages to keep them up.

You face 5 hours communting to London to get a job to pay Salisbury prices.

Soton, Bstoke just don;t offer the jobs they used to - Hey,all Bstoke's business premises are being

turned into Penthouse!

Here's an exercise. Image you lose one or both jobs. Get the Journal and look at what jobs you could

get.

Share this post


Link to post
Share on other sites

Hi

Thanks for this. It is a tough one because we didn't have a house to sell and therefore have lots of equity from another property to transfer. In brief, we bought a house about 8 years ago and when we moved after 18 months we sold and made about 25k. At that point, we never thought prices would keep rising and as my husband was an IT contractor and making good money, we just lived a good life in London and the Australia.

When we came back to England with very little money, prices had gone beserk. So we have saved a 25k deposit up over the last 3 years despite having had two kids in that time!

This is why I'm desperate not to see my money disappear! I still feel prices are ridiculous and although, in the short term, they may increae, a long term trend has to be downwards??? People treat me like I'm mad for saying this though and are incredulous that I should even consider renting.

As for jobs, I'm not working to full capacity because of the kids at the moment and any work I get as a freelancer comes from London anyway. My husband doesn't work in Salisbury either so I suppose we wouldn't be reliant on the town's economy for jobs.

Ho hum.

Share this post


Link to post
Share on other sites

Don't go the 'commute to London' way.

I've a friend who's doing this from SP1. Five hours a day commute.

It's killing him.

Honest truth, when you remove the train fares and cost of time commuting, he's not really earning that much.

Your shout.

I'd sit tight.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.