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Debate House Prices
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Calculate whether buying financial makes sense for you
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WilfB
Posts: 13 Forumite
I've knocked together a spreadsheet which attempts to calculate whether buying a house makes financial sense. It takes account of: your budget (initial and monthly); mortage, solicitors and other fees (including the cost of remortgaging on a regular basis); insurance and maintenance; rental costs; inflation; extra commuting costs that might result. You specify the timeframe and the spreadsheet tells you how much better/worse off you would be in various house price inflation scenarios. You can find it at: http://www.mediafire.com/?dydemz9nngg If any of you do try it, I'd be grateful for suggestions for improvements. Thanks.
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Comments
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Great effort! Couldn't quite work out what you meant by "initial period" how can you adjust this?
Might also be good for you to be able to enter the figures as they stand for you personally - ie I know how much mortgage I am going for and the exact figures for deposit - rather than it trying to work it out for you.0 -
Good point about the 'initial period'. It's the value you put in cell B39 to show the number of years you want to do the comparison over. Once I've had a few more comments, I'll put up a new, clearer version.I'm less sure about your second comment. How do you know the value of the house and the deposit? I'm working on the principle that the figures to start with are the cash you have available and the cash you'll have per month from then onwards, and that the value of the house you buy will depend on those. It seems to be the right way around for me. I'll wait for a few more comments on that one before doing anything.Thanks, Oranger0
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Ah thanks - that makes sense. I took that to mean mortgage over 25 years. Numbers seem to make much more sense now!
I think you're right about it working out how much money is available automatically!
Many thanks0 -
You're welcome. Keep the suggestions coming.0
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