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Living Below Your Means

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I am just rambling on a Friday night. My thoughts at the moment are these. Once house prices have come down to reasonable levels it might be tempting to throw all your savings into a big house assuming you can easily afford it. But I am increasingly thinking that it would be better to buy according to your needs. For example, the bigger house you have, the more council tax you will pay, the more it will cost to heat, and so on. Even mortgage arrangement fees are becoming ridiculous. Buying a small property outright for cash must be the way forward which means prices need to be rock bottom.

Is there any point apart from the fact that a bigger house may rise more in value in the next boom? As a single guy it occurs to me how 2 people living together earning £15k each are going to be better off than one person earning £30k (for example) because 2 people will pay less tax (each person has their own tax allowance), share their heating bills and standing charges etc. So for a single person, cutting spending and council tax seems to be doubly important. Even if you can afford more, why throw money down the drain? It wouldn't be so bad if you could get a house with a garden that's not overlooked by your neighbours but this is tough nowadays unless you want something that's old and freezing cold in the winter.

I really quite like the idea of those flat pack houses for £15k although I can see land prices rising to meet the void. Does anyone else consider houses to be worth very little these days?

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  • 396 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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