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Co-buying Madness Reaches New Zealand

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Co-BuyWithMe.co.nz was the brainchild of Theo Michaels. Having struggled to get on the property ladder himself for a number of years, Theo eventually co-bought his first flat in London with two other co-buyers and later co-bought a property Overseas with six other co-buyers (only two of whom he knew!) Theo became increasingly aware that many others were struggling to find co-buyers.

http://www.scoop.co.nz/stories/BU0609/S00145.htm

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Co-BuyWithMe.co.nz was the brainchild of Theo Michaels. Having struggled to get on the property ladder himself for a number of years, Theo eventually co-bought his first flat in London with two other co-buyers and later co-bought a property Overseas with six other co-buyers (only two of whom he knew!) Theo became increasingly aware that many others were struggling to find co-buyers.

http://www.scoop.co.nz/stories/BU0609/S00145.htm

UK one:

http://co-buywithme.co.uk/

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Co-BuyWithMe.co.nz was the brainchild of Theo Michaels. Having struggled to get on the property ladder himself for a number of years, Theo eventually co-bought his first flat in London with two other co-buyers and later co-bought a property Overseas with six other co-buyers (only two of whom he knew!) Theo became increasingly aware that many others were struggling to find co-buyers.

http://www.scoop.co.nz/stories/BU0609/S00145.htm

What a great idea :lol: , i'm going to get a syndicate of 20 people together most of whom i don't know and collectively we will go out and buy a standard 3 bed bay fronted semi .

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Also if you place a sink and a microwave in each room, you can convert the Kitchen into another two rooms. If there is more than one Toilet/bathroom you can do the same with that. Then there is the lounge, which might be big enough for further two rooms. If you are really lucky you will have a dining room, so two more rooms.

In total you have 3 + 2 +1 +2 +2 = 10 Bedrooms.

So you could share a 3 bed semi with 9 other people. Of course if the 3 rooms are doubles, partners could share allowing 13 people in the house. Hmm now if there is the garage, lets say 2 double bedrooms, so 4 more people.

So from a 3 bed semi, with garage, you can share with 17 other people :)

Excellent!!!!!

Edited by Adrian Allen

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Also if you place a sink and a microwave in each room, you can convert the Kitchen into another two rooms. If there is more than one Toilet/bathroom you can do the same with that. Then there is the lounge, which might be big enough for further two rooms. If you are really lucky you will have a dining room, so two more rooms.

In total you have 3 + 2 +1 +2 +2 = 10 Bedrooms.

So you could share a 3 bed semi with 9 other people. Of course if the 3 rooms are doubles, partners could share allowing 13 people in the house. Hmm now if there is the garage, lets say 2 double bedrooms, so 4 more people.

So from a 3 bed semi, with garage, you can share with 17 other people :)

Excellent!!!!!

You forgot about the shed at the back. :rolleyes:

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Also if you place a sink and a microwave in each room, you can convert the Kitchen into another two rooms. If there is more than one Toilet/bathroom you can do the same with that. Then there is the lounge, which might be big enough for further two rooms. If you are really lucky you will have a dining room, so two more rooms.

In total you have 3 + 2 +1 +2 +2 = 10 Bedrooms.

So you could share a 3 bed semi with 9 other people. Of course if the 3 rooms are doubles, partners could share allowing 13 people in the house. Hmm now if there is the garage, lets say 2 double bedrooms, so 4 more people.

So from a 3 bed semi, with garage, you can share with 17 other people :)

Excellent!!!!!

Yeah then theres the loft , i could board the floor of it and maybe get 20-25 sleeping next to each other also i reckon i could get one person to live in the cupboard under the stairs as well :D

Seriously it's a great idea , kinda like a timeshare property :rolleyes: , i bet Theo thinks he's cracked it ffs .

Edited by grey shark

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Shared ownership, Co-buying; All looks a little Japanese to me !

Does anybody remember or used the Capsules or "Ka-Pu-Se-Lu".

Just thing how many illegal immigrants you could get in a 2 bed flat if you capsule celled the lot.

Capsule link

Dog kennel link

Wiki link

If it's "Turning Japanese" then get worried and "I really think so".

The Vapors, Turning Japanese

Edit: I've thought of an advantage; Kirsty couldn't fit in one !

Edited by SithClone7

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This idea is going to run into problems when FTB house prices reach a point at which the number of people buying can't practically live in the property...

:lol:

Edited by dnd

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Yeah then theres the loft , i could board the floor of it and maybe get 20-25 sleeping next to each other also i reckon i could get one person to live in the cupboard under the stairs as well :D

Seriously it's a great idea , kinda like a timeshare property :rolleyes: , i bet Theo thinks he's cracked it ffs .

I spoke with young Theo a few months back, he appeared somewhat gobsmacked that I though co-buying was a shite idea, he really didn't 'get it' that I didn't 'get it'

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Im surprized some of the developers don't offer shared buy when they can't sell the new houses.

They could offer 50-50 ownership, pay your deposit and 3 month rent. You will have paid more than the house cost to build and still owe them for the other half, which you pay rent for.

Oh, I think this is a bad idea, just surprized that they aren't doing it :D

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Shared buying from Developers is here....

In Highworth (near Swindon) they have an Advert (can't remember the developer think it is Wimpey) and they have a huuuuge advert "Buy this with a friend for just £300 a month!) .....er not the house probably some pokey one bed flat,so you better be good friends!!!!!

I will at some point have to go in and complain to the office about the advertising at this developer's site....

Absolute madness!!!!

SH

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We currently live in the property but because the house has already accumulated a significant increase in value in under two years we are now in the position where we can take out capital on our co-bought property to purchase separate properties. We plan to continue renting out the current house as a medium-term investment.

Piggy bank housing.

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let's see

4 people buy a house for £200k as they can't afford one themselves

prices go up 25% so each person has £12.5k profit

assume they buy their own place that used to cost £100k but is now £125k - they are £12.5k worse off

ok - i made those numbers up, but u get the idea

at what point does buying with someone else actually make getting your own place feasible?

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let's see

4 people buy a house for £200k as they can't afford one themselves

prices go up 25% so each person has £12.5k profit

assume they buy their own place that used to cost £100k but is now £125k - they are £12.5k worse off

ok - i made those numbers up, but u get the idea

at what point does buying with someone else actually make getting your own place feasible?

After a few years they would also have paid off some of the 50k

They may then choose to buy with a partner for example

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After a few years they would also have paid off some of the 50k

They may then choose to buy with a partner for example

but that's no different from buying yorself

i want to know how buying a house with lots of other people helps you own your own house further down the line

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but that's no different from buying yorself

i want to know how buying a house with lots of other people helps you own your own house further down the line

Initially you need to get on the 'housing ladder' and this provides an opportunity using a lower initial deposit to raise a larger deposit

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Initially you need to get on the 'housing ladder' and this provides an opportunity using a lower initial deposit to raise a larger deposit

You must be an EA or a mortgage broker.

As pointed out above, this provides no benefit at all in terms of the 'housing ladder', because if your shared house increases enough to provide you some 'free money', then the price of any house you might want to buy goes up _EVEN MORE_.

And, finally, as I've mentioned before, I don't know anyone who's 'gone up' this mythical 'housing ladder' that people keep talking about. All my friends and relatives just bought the house or flat they planned to spend the rest of their lives in, and most still own it: the exceptions got married or had to move because of their job.

Wow, buying the house you want for a price you can afford: why does that seem like such an impossible dream today, when it's been the norm for decades?

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You must be an EA or a mortgage broker.

As pointed out above, this provides no benefit at all in terms of the 'housing ladder', because if your shared house increases enough to provide you some 'free money', then the price of any house you might want to buy goes up _EVEN MORE_.

And, finally, as I've mentioned before, I don't know anyone who's 'gone up' this mythical 'housing ladder' that people keep talking about. All my friends and relatives just bought the house or flat they planned to spend the rest of their lives in, and most still own it: the exceptions got married or had to move because of their job.

Wow, buying the house you want for a price you can afford: why does that seem like such an impossible dream today, when it's been the norm for decades?

It certainly can provide a benefit as opposed to renting where 100% goes down the pan compared to interest if you are buying

It certainly can provide a benefit as opposed to renting where 100% goes down the pan compared to interest if you are buying

Also you are assuning constant consistent price rises whereas in reality once you have a stake in property you then can bide your time for the right opportunity

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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% +
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      • Even
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      • up 5%



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