AteMoose Posted November 20, 2006 Share Posted November 20, 2006 (edited) Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Im excited but slightly nervious, hopefully i have managed to negotiate enough of my own crash and talked the price down enough. Ive locked my morgage into a 5 year fixed and im renting out other rooms to friends. The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... I have paid 191k, it was originally on the market for 230k An identical house on the street sold in 2004 for 235k. The previous owner bought it brand new for 155k for it in 2001. An identical property on the street sold in 2002 for £195k am i the last fool? I think i should be ok, however i do think the price will continue to slide down to about 170k.... Edited November 20, 2006 by moosetea Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted November 20, 2006 Share Posted November 20, 2006 Best of luck - the bottom line is if you can afford it and it works for you then go for it. Quote Link to comment Share on other sites More sharing options...
Mags Posted November 20, 2006 Share Posted November 20, 2006 Good luck with it! Where on earth do you live to get that much house for so little? Quote Link to comment Share on other sites More sharing options...
JustYield Posted November 20, 2006 Share Posted November 20, 2006 Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Good for you. Now pay the sucker down ASAP! Renting out spare rooms is smart, hopefully you won't have to do that for too long. Quote Link to comment Share on other sites More sharing options...
Charles_Darke Posted November 20, 2006 Share Posted November 20, 2006 Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Im excited but slightly nervious, hopefully i have managed to negotiate enough of my own crash and talked the price down enough. Ive locked my morgage into a 5 year fixed and im renting out other rooms to friends. The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... I have paid 191k, it was originally on the market for 230k An identical house on the street sold in 2004 for 235k. The previous owner bought it brand new for 155k for it in 2001. An identical property on the street sold in 2002 for £195k am i the last fool? I think i should be ok, however i do think the price will continue to slide down to about 170k.... Good luck moosetea. I'm sure you'll love it! Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted November 20, 2006 Share Posted November 20, 2006 From the figures you quote it sounds like you've negotiated a prety decent deal (at least you didn't blindly pay the asking price as many buyers seem to do). I hope you'll be very happy in your new home. Quote Link to comment Share on other sites More sharing options...
grey shark Posted November 20, 2006 Share Posted November 20, 2006 Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Im excited but slightly nervious, hopefully i have managed to negotiate enough of my own crash and talked the price down enough. Ive locked my morgage into a 5 year fixed and im renting out other rooms to friends. The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... I have paid 191k, it was originally on the market for 230k An identical house on the street sold in 2004 for 235k. The previous owner bought it brand new for 155k for it in 2001. An identical property on the street sold in 2002 for £195k am i the last fool? I think i should be ok, however i do think the price will continue to slide down to about 170k.... Looks like you negotiated your own mini HPC , well done , as said above get those banks off your back asap , if/when prices come down you look like youv'e got a built in cushion anyway , good luck Quote Link to comment Share on other sites More sharing options...
Charles_Darke Posted November 20, 2006 Share Posted November 20, 2006 The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... Four toilets? Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted November 20, 2006 Share Posted November 20, 2006 It sounds like you've got a decent deal, congratulations and enjoy your new home . Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted November 20, 2006 Share Posted November 20, 2006 Good luck Moose.Like you I negotiated discounts on a few properties this Summer but backed out.I think it was a good time to get in,since there were better bargains to be had than for at least three years(Midlands only). As it is my girlfriend bought a place cash in the end so I didn't have to forsake my Bear feelings.Were it not for that,I too would have jumped in.I don't think members from the South realise the Midlands Market is stuck and a few sellers are cutting and running(and the Moose was ready to profit) Quote Link to comment Share on other sites More sharing options...
PropertyGuru Posted November 20, 2006 Share Posted November 20, 2006 well done moose! Quote Link to comment Share on other sites More sharing options...
munimula Posted November 20, 2006 Share Posted November 20, 2006 Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Im excited but slightly nervious, hopefully i have managed to negotiate enough of my own crash and talked the price down enough. Ive locked my morgage into a 5 year fixed and im renting out other rooms to friends. The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... I have paid 191k, it was originally on the market for 230k An identical house on the street sold in 2004 for 235k. The previous owner bought it brand new for 155k for it in 2001. An identical property on the street sold in 2002 for £195k am i the last fool? I think i should be ok, however i do think the price will continue to slide down to about 170k.... Good work! My parents have just had an offer accepted. £210K on a place that was £239K in Devon. BTLer offloading. I don't understand how prices are still rising? Quote Link to comment Share on other sites More sharing options...
CrashDive Posted November 20, 2006 Share Posted November 20, 2006 Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Im excited but slightly nervious, hopefully i have managed to negotiate enough of my own crash and talked the price down enough. Ive locked my morgage into a 5 year fixed and im renting out other rooms to friends. The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... I have paid 191k, it was originally on the market for 230k An identical house on the street sold in 2004 for 235k. The previous owner bought it brand new for 155k for it in 2001. An identical property on the street sold in 2002 for £195k am i the last fool? I think i should be ok, however i do think the price will continue to slide down to about 170k.... Nice, job well done. Seems you have the house you wanted at the price you wanted with the terms you want. Sounds like your time on HPC was not wasted. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted November 20, 2006 Share Posted November 20, 2006 (edited) Moose, good luck. Sounds like you got a reasonable deal. Its people like you who will help bring about more sensible prices. I firmly believe that 2000-2001 prices were about normal. Someone else buying on your street may use nethouseprices.com and see your buy price and negotiate another seller to reduce. Thing that gets my goat with Rightmove, is they would've had this house on at 230K and this would've fed into their "price rises", not the £191K that moose paid! Edited November 20, 2006 by OzzMosiz Quote Link to comment Share on other sites More sharing options...
tensecs Posted November 20, 2006 Share Posted November 20, 2006 in a city centre near the train station Foregate or Shrub Hill? Quote Link to comment Share on other sites More sharing options...
Bungalow Builder Posted November 20, 2006 Share Posted November 20, 2006 Well done. The timing may not be spot on but it sounds as if you have negotiated a great price. Just think, in 25 years (or whenever your mortgage expires) you will be the owner of a 3 bed place for the same price as renting one room. Mind you - you may get fed up with flatmates after a while but you can always replace with partner/kids etc. Quote Link to comment Share on other sites More sharing options...
StuB Posted November 20, 2006 Share Posted November 20, 2006 Foregate or Shrub Hill? Worcester?? Nice one, 15% off the asking price. Friend recently managed to knocked 15k of a 170k house, not bad i thought. Quote Link to comment Share on other sites More sharing options...
StainlessSteelCat Posted November 20, 2006 Share Posted November 20, 2006 Nice one and good luck. 4 toilets though - what's that about? Quote Link to comment Share on other sites More sharing options...
bazzzzzzz Posted November 20, 2006 Share Posted November 20, 2006 I have paid 191k, Great deal-congrats. Quote Link to comment Share on other sites More sharing options...
homeless Posted November 20, 2006 Share Posted November 20, 2006 good to see fellow hpc people getting what they want, weve all gone through this crap together and i for one cant wait till i hear all posters here now own there own house. Quote Link to comment Share on other sites More sharing options...
adren Posted November 20, 2006 Share Posted November 20, 2006 Ive exchanged contracts, zapped 4 years of savings over to my solicitor and im moving in on the 28th of November. Im excited but slightly nervious, hopefully i have managed to negotiate enough of my own crash and talked the price down enough. Ive locked my morgage into a 5 year fixed and im renting out other rooms to friends. The house is lovely, 6 years old, in a city centre near the train station, garage off road parking, 3 bedrooms, lounge, dining, study and 4 toilets... I have paid 191k, it was originally on the market for 230k An identical house on the street sold in 2004 for 235k. The previous owner bought it brand new for 155k for it in 2001. An identical property on the street sold in 2002 for £195k am i the last fool? I think i should be ok, however i do think the price will continue to slide down to about 170k.... Sounds reasonable. I have long been of the view that prices recovered to "about right" in 2000/2001 after the early 90's crash. So it was 155 in 2001; add 6 years of 3% ("for natural inflation") and you get 185. And incidentally, 185K is roughly a 20% reduction on 230K. Now in my opinion prices are generally about 20% too high a the moment. A drop from 230K to 185K sounds logical to me. So it sounds like you have paid a bit over the odds (5%?) but not so much that it's a drama. Of course you are right to be cautious on what happens next. It could well dip to 170 but in the long term it's a hell of a lot more doable to recover from 170 to 195 than 170 to 230. If you go underwater it shouldnt be for long. The main thing is you are happy with the deal. I hope you enjoy your new home. Well done on chipping a bit more off for the rest of us. A Quote Link to comment Share on other sites More sharing options...
Lionel Richtea Posted November 20, 2006 Share Posted November 20, 2006 Good work! My parents have just had an offer accepted. £210K on a place that was £239K in Devon. BTLer offloading. I don't understand how prices are still rising? Because he would have asked 200 for it a year ago..? On yer Moose - have fun (and choose your lodgers wisely!) Quote Link to comment Share on other sites More sharing options...
AteMoose Posted December 1, 2006 Author Share Posted December 1, 2006 thanks for all the support finnally moved in, its taken three days to move things in, lodgers/friends move in over the weekend. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted December 1, 2006 Share Posted December 1, 2006 thanks for all the support finnally moved in, its taken three days to move things in, lodgers/friends move in over the weekend. Hope you keep posting,we have already lost the Bear and Casual Observer in the last fortnight,not the Moose as well I hope. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted December 1, 2006 Author Share Posted December 1, 2006 Hope you keep posting,we have already lost the Bear and Casual Observer in the last fortnight,not the Moose as well I hope. not going anywhere, im still expecting falls although my faith is being tested, some plonker a few doors down is trying to sell an identical house to mine at 245k. Quote Link to comment Share on other sites More sharing options...
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