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Dr Doom

Location, Location, Location Repeats

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Two friends buying together. Can't afford to buy themselves. Hope to 'make' enough of the shared property in the next 5 years to buy their own............

Could someone please explain how that works? Here I am thinking if prices go up that much it will be even harder in 5 years for them to buy their own place. I must be mad...................

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Saw an episode when I was off sick last week. They made a big effort during the closing credits to point out that this show was 6 years old and values aren't neccessarily valid now.

Maybe they are trying to cover their backs.

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Kirsty: "it's an up and coming area and you're of course pleased with the property, but is there anything you'd like to change or remove?"

"if possible, I'd like to remove the bars from the windows"

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Notice they are explaining V E R Y carefully the pitfalls of IO mortgages, the risks of 100% mortgages, potential tax liabilities of BTL.

I don't remember them falling over themselves to explain all this stuff when they were busy hyping the market 2 years back.

Scumbags.

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Notice they are explaining V E R Y carefully the pitfalls of IO mortgages, the risks of 100% mortgages, potential tax liabilities of BTL.

I don't remember them falling over themselves to explain all this stuff when they were busy hyping the market 2 years back.

Scumbags.

"We're investing in Bulgaria, in Sofia. It's like, the capital of Bulgaria." And there was me thinking it was the capital.

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One day they will be running Location, Location, Location on UK TV Gold as a sort of nostalgia special.

People who are mature adults now will sit there as pensioners in 2025 watching it saying "Hey, do you remember Doris when we used to own a house worth £500k - by eck them were the days!"

People who are children now will sit there as young adults in 2025 watching it with open mouths marvelling at how stupid young professional couples were in 2007 to be fighting to pay £250k for a two up two down in a rough area of London.

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I couldn't believe it. The gist were house prices were going to keep going up astronomically.

They advised one London woman who had been priced out to buy a rental property in a place outside of London about to go up. Rent it out, rent in London and in ten years time, take the equity out of it, and use it to buy a house where you want to live.

Then the two guys buying together. No mention about how crazy that is.

House prices are crazy, but they're going to get crazier. Jump on quick. Start accruing equity!

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i liked the bint from down south who bought a place in Lincoln for £79k and who, when they revisited, expected it to be worth £98k (because that's what she wanted) - instead she was told it was worth £85k - just goes to show you can't believe those national averages

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Could someone please explain how that works? Here I am thinking if prices go up that much it will be even harder in 5 years for them to buy their own place.

It will. And their gains, of course, will be slashed in half ;)

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I remember watching A Place in the Sun a while ago where the buyers were told, "prices have doubled in the last 3 years, so this is a really good place to buy". Well maybe...I am sure that this may make many buyers feel warm inside, but to me it hardly evidence that prices will continue to do the same.

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Two friends buying together. Can't afford to buy themselves. Hope to 'make' enough of the shared property in the next 5 years to buy their own............

Could someone please explain how that works? Here I am thinking if prices go up that much it will be even harder in 5 years for them to buy their own place. I must be mad...................

Two people buy a house, price of the house goes up, sell in 5 years, large profit, buy another house with the profit....em: some thing wrong with the idea! The other houses have also increased in value :rolleyes:

Are not the parties behind this idea of shared ownership really brilliant! Poor so ds.. If they are intelligent enough to know that they are walking in to a trap, would they have gone for it? Probably looking at lifelong shared ownership.

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Saw an episode when I was off sick last week. They made a big effort during the closing credits to point out that this show was 6 years old and values aren't neccessarily valid now.

Maybe they are trying to cover their backs.

What has happened to your Avatar....was it the one with the guy with 'tw*t' written on his face?

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The women who sold for 6k profit - 40% tax. So I do not see how her LLL experience helped ther get on the London ladder.

I was thinking that... take into account buying expenses and work done on house and it looks like financial genius akin to getting a bar job for one night a week.

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Guest Bart of Darkness
What has happened to your Avatar....was it the one with the guy with 'tw*t' written on his face?

I think that question answers itself. However, from the forum rules.......

No posting of vulgar or obscene material, or other inappropriate or illegal material.

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Two people buy a house, price of the house goes up, sell in 5 years, large profit, buy another house with the profit....em: some thing wrong with the idea! The other houses have also increased in value :rolleyes:

And there's the trick! The market is FAR from perfect so you can pick up some houses cheaper than market value. Other you can add value to. Some sellers are stressed etc etc etc. You have to know your local area market really well then it isn't impossible. How else can one move up the housing ladder?

Stamp duty has taken the edge off the game though.

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what is it with "new series" of property programs being recycled old ones. Why not just call it a repeat? Its weird. I guess it cons people into watching a program they would have skipped pass cos lets face it these re-runs are rubbish to watch. I'm looking forward to a full on new series of property ladder, perhaps filmed 2007-2008 in areas that are nolonger experiencing the old "bail out" rising market. Should be a more interesting test of what is good development and what isnt. In past series everyone has made a shed load of cash no matter how good they are. No wonder some of the people who predicted a crash in 2003 are a little bitter!

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The women who sold for 6k profit - 40% tax. So I do not see how her LLL experience helped ther get on the London ladder.

Err £6k profit = zilch tax.

Captial gains tax allowance, dear boy.

Still, b***er all gain for the effort and risk involved, though.

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The women who sold for 6k profit - 40% tax. So I do not see how her LLL experience helped ther get on the London ladder.

According to landregistry.

Average london price February 2004 = 264,852

Average london price February 2006 = 286,490 (+8%)

So if she could've got a mortgage somehow in london she could've

made 3 times as much doing nothing.

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:lol::rolleyes: just thought you liked to know I bought a property 18 months ago for 60K , spent 25k and sold and exchanged today for 168K , boy was I lucky

And there's the trick! The market is FAR from perfect so you can pick up some houses cheaper than market value. Other you can add value to. Some sellers are stressed etc etc etc. You have to know your local area market really well then it isn't impossible. How else can one move up the housing ladder?

Stamp duty has taken the edge off the game though.

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Err £6k profit = zilch tax.

Captial gains tax allowance, dear boy.

Still, b***er all gain for the effort and risk involved, though.

Agree ref capital gains tax but 6k in 18 months?

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Embarrassed to admit it, but I watch this quite regularly.

In the current series the lovely Kirsty has referred repeatedly to the market hardening and to huge capital gains being a thing of the past. She's also suggested people will be trading up less in future due to this and has advised people to look how they can improve existing properties to add value in increasingly difficult market conditions.

Not sure any of the potential purchasers took a bit of notice.

So, its not all Bull from Kirsty after all.

Edited by Value

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:lol::rolleyes: just thought you liked to know I bought a property 18 months ago for 60K , spent 25k and sold and exchanged today for 168K , boy was I lucky

Good for you!

Of course you could have taken another route to success - resentment, envy and doom-mongering ill-wishery and if that didn't make houses cheap enough for you to buy and profit on yourself you could always opt for redistribution - to you, naturally.

New Labour - New Socialism.

http://www.order-order.com/2007/08/prezzas...nd-pension.html

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