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I Bought A Place - And I Am Glad I Did

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

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Congrats - I'm sure you've made the right personal decision.

I bought in 2002, at the peak of the local market - it's fallen back slightly since then. I did it because I could and because I needed to get on with my life plan - small kids etc.

However, don't knock this site - it allows you to make such decisions with a far clearer view of the market than the TV and papers would. At least you were aware of all the risks when you made your decision, and you have also had the opportunity to take precautions against the worst outcomes.

Contrast that with the blind optimism of many purchasers and I think you'll find that reading this site was very worthwhile.

However, I speak as an addict who would like to get on with my life and stop reading property websites at some point....

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

Good luck to you mate!

As I said in a previous post - its just a question of how much you WANT to have your own place.

I saw an OK place yesterday but I'm still wondering if its worth the almost-quarter-of-a-million price tag. Like isnt there something else I'd rather do with that vast sum of cash?

Up to you. If you want it, get it. But learn from this site that house prices wont "double in the next five years" as some would have you believe........ indeed, they could half......

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

Renting has enabled me to 'get on with my life' in a way I couldn't when I owned a property, so I don't think this 'putting your life on hold' thing applies to all of us.

But I wish you well... ;)

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

Unless you've bought the loft space as well, just because it's attached to your flat, you don't own it.

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...but you also got to get on with your life too.
...because I needed to get on with my life plan...

What on earth led you believe that you needed to buy to "get on with life"? I'm renting and don't feel in the least constrained by it. In fact I feel I'm in a better position to "get on with life" than I would owning a pile of expensive bricks.

Edited by clv101

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Guest Winners and Losers

What on earth led you believe that you needed to buy to "get on with life"? I'm renting and don't feel in the least constrained by it. In fact I feel I'm in a better position to "get on with life" than I would owning a pile of expensive bricks.

Good point. Since when has it been necessary to own a house to be seen to be 'getting on with life'. Is there not more to life?

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon

Well done, your obviously very happy with the decision.

so I think that listening to people on this website has been a very negative distraction

And obviously feel the need to pop back to the website and gloat

I feel genuinely relieved that I am finally buying

Hadn't noticed.................

I know you got to make sure you win the gamble -

You said it, you have chose to gamble in the type of property most likely to record the biggest percentage loses in any correction. Due in part to a massive over supply in the market. Due in part flats/apartments have been purchased by speculaters. By definition speculaters move on when their funds come under pressure as they are usually leaveraged. And due in part the financialy stretched opting to enter the market at it's lowest point, are the first to fold in a correction. One bedders are bought out of desperation, and will be leap frogged at market bottoms if/when a correction ensues.

but you also got to get on with your life too.

:blink:

Sad or what, you really beleive you need to be indebted to get on with your life.

Bye :rolleyes:

Edited by Catch22

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

and

When will this crash happen? Never. While no-one can predict the future, the views expressed on this site are starting to resemble a bunch of wingers who missed the boat.

I would have thought by now you would have thought about starting a housing cooperative with people in local areas chipping in - then you could generate some money from this site and host it properly.

Ted

and

Look like we were all wrong. I am going to buy a house now I have had enough of the paralysis by analysis brigade and as I watch the snow fall next year it will be in my own home - nice and warm and mine - (Cue appropriate music)

Hmmmmm!!! Sniff, sniff! :huh:

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

There are gambles and there are calculated gambles. In the long run you have reduced the risk significantly by buying a property that can be refurbed to improve on its market value.

An extra bonus to consider is SANF - Sleep At Night Factor, in your own little piece of home. No landlord control, no more consideration of the temp. property life.

Well done.

Finally got out of being lostinrent.

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Guest Winners and Losers

There are gambles and there are calculated gambles. In the long run you have reduced the risk significantly by buying a property that can be refurbed to improve on its market value.

An extra bonus to consider is SANF - Sleep At Night Factor, in your own little piece of home. No landlord control, no more consideration of the temp. property life.

Well done.

Finally got out of being lostinrent.

I'm not sleeping well at night at the moment. :(

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I'm not sleeping well at night at the moment. :(

Me neither - nasty cold & cough. :(

But no plans are on hold as a result of renting.

There are three things to aim for in life: good work, good living, good sex.

I currently have 2 of those, and one of them is my flat.

:unsure:

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Who wouldn't be glad they bought a place ? i take it you got it for a good price.

Good luck and hope it all works out well.

If you can afford it then theres no problem or the need to justify anything is there...?

But if you can't afford it or are close to the barrier, then getting on with your life by taking ownership of a massive debt is probably not a very good idea.

Good luck and lets hope your not one the 90% of gamblers that loose.

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Guest Winners and Losers

Me neither - nasty cold & cough. :(

But no plans are on hold as a result of renting.

There are three things to aim for in life: good work, good living, good sex.

I currently have 2 of those, and one of them is my flat.

:unsure:

I have 2 of those, and one of them is my job. :unsure:

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

:lol::lol: Renting isnt getting on with your life! :rolleyes::rolleyes:

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Me neither - nasty cold & cough. :(

But no plans are on hold as a result of renting.

There are three things to aim for in life: good work, good living, good sex.

I currently have 2 of those, and one of them is my flat.

:unsure:

Sorry I have to disagree, if your a bloke good sex can be substituted with a plentiful supply of more mundane sex :D

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

Hope you are happy there

Congratulations

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I have just bought a flat - with potential to put an extra room in the loft. I dont plan to move anytime soon so I think that listening to people on this website has been a very negative distraction - I feel genuinely relieved that I am finally buying.

I know you got to make sure you win the gamble - but you also got to get on with your life too.

:blink:

Good luck. I sold my place in June 2004 and am now renting. All my profits went 50/50 into cash and equities. So far my equities have made 30% gain although there is a risk and my other 50% has earned 3.6% net after tax risk free. My rent is less than my IR only mortgage so I'm very pleased. My house cost £180k in 1996 when I was earning £60k. Now I earn £85k so by that measure I figure the underlying value of the property is about £250k to £260k. I sold for £350k. The market in Kent has done nothing since, but my accountancy training tells me that one day the price will start to fall and won't stop until it reaches or even drops below the £250k real value. At that ponit I will buy back. until then I am happy to rent, debt free, maintenance free and worry free. I realise that whilst renting isn't owning, having a mortgage isn't really owning either. The only difference with a mortgage is that the bank owns the property rather than a private landlord and the bank doesn't pay the repairs and renewals unlike my friendly and (grateful) landlord.

Happy Days !!

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I'm not sleeping well at night at the moment. :(

Well if you must post on hpc at 3 am its not surprising :rolleyes:

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Guest Winners and Losers

Well if you must post on hpc at 3 am its not surprising :rolleyes:

Pot, kettle :rolleyes:

Something nasty has been keeping me up :rolleyes:

A nasty cold and cough. ;)

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What on earth led you believe that you needed to buy to "get on with life"? I'm renting and don't feel in the least constrained by it. In fact I feel I'm in a better position to "get on with life" than I would owning a pile of expensive bricks.

How about:

Getting one of life's major hurdles behind you so you can concentrate on the future rather than the here & now of renting.

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How about:

Getting one of life's major hurdles behind you so you can concentrate on the future rather than the here & now of renting.

It is in your interest to see people renting instead of buying is it not?

Do you see BTL as an investment or as a business with all the associated "skills" required?

Sorry for the interregation, not with the CIA honest.

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  • 301 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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