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What would you do...?

YoungBlueEyes
YoungBlueEyes Posts: 4,041 Forumite
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in House buying, renting & selling
Hi all, looking for some views from the experts and experienced persons on here please.

Imagine you a single person that has to move house in the next few months. You are unafflicted with job/partner/children. You have a cash pot of approx £130k. You fancy a complete change and are thinking of moving to a whole new area. Possibly a Derbyshire or Leicestershire market town type place.

How much do you spend on a house? As prices are cheapish now, do you spend the majority of your money on, say, a period semi, while they're within reach, and just keep a little in reserve? Or get a cheaper character mid-terrace and keep a bunch of money at your disposal cos you never know what's around the corner (new boiler or burst pipe or your jalopy finally gives up etc)? What kind of figure is a sensible reserve, and what kind of things have you all experienced going wrong out of the blue?

Thanks for any replies :)
The second man to go over Niagara Falls in a barrel, Bobby Leach, survived the fall but later died as a result of slipping on a piece of orange peel.

Comments

  • 00ec25
    00ec25 Posts: 9,123 Forumite
    Combo Breaker First Post
    surely rather depends on whether you are a young single person likely to get a decent job in these out of the way places or someone who is trading quality of life improvements for a modest to low wage with limited prospect of building a pot for the future so what they have now is what they will always have.

    and yes I do know someone who at 28 moved from London to the Peak District, loves every minute of his home life near Matlock, but "had" to take a job in Manchester for economic reasons, and now spends just as long commuting as he did when down here in the smoke.
  • YoungBlueEyes
    YoungBlueEyes Posts: 4,041 Forumite
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    I'm looking at access/uni courses so I'll be able to get a decent job in a few years. Any job will do while I get myself going :)
    Having to commute long distances cos that's where the job is not appealing, modest and no commute is more me.
    The second man to go over Niagara Falls in a barrel, Bobby Leach, survived the fall but later died as a result of slipping on a piece of orange peel.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    YoungBlueEyes wrote: »
    I'm looking at access/uni courses so I'll be able to get a decent job in a few years. Any job will do while I get myself going :)
    Having to commute long distances cos that's where the job is not appealing, modest and no commute is more me.

    Wherever it is it needs to be close to one of the top 30 or so universities. They are the ones that offer degrees that lead to better jobs than you can get without a degree.
    https://www.thecompleteuniversityguide.co.uk/league-tables/rankings

    If you go to most of the others all you will get is a debt and not a good job because they don't offer degrees that employers want. Not all university degrees lead to a better job than you can get without a degree. Most of them don't make any difference.
  • YoungBlueEyes
    YoungBlueEyes Posts: 4,041 Forumite
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    Great site, thanks for the link Cakeguts.
    The second man to go over Niagara Falls in a barrel, Bobby Leach, survived the fall but later died as a result of slipping on a piece of orange peel.
  • YoungBlueEyes
    YoungBlueEyes Posts: 4,041 Forumite
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    http://www.telegraph.co.uk/finance/jobs/11771384/The-best-paid-jobs-you-can-get-without-a-degree-Tube-driver-perhaps.html

    2 minutes interesting reading :)
    The second man to go over Niagara Falls in a barrel, Bobby Leach, survived the fall but later died as a result of slipping on a piece of orange peel.
  • Marvel1
    Marvel1 Posts: 7,171 Forumite
    Name Dropper First Post First Anniversary
    edited 12 January 2018 at 2:56AM
    YoungBlueEyes wrote: »
    Imagine you a single person.

    Get a cheaper character mid-terrace and keep a bunch of money at your disposal cos you never know what's around the corner (new boiler or burst pipe or your jalopy finally gives up etc)? What kind of figure is a sensible reserve, and what kind of things have you all experienced going wrong out of the blue?



    No need to imagine I am.

    This, it's just bricks and mortar, means nothing to me, had the kitchen completey done as it was outdated and I'm like yeah ok it's still just a kitchen what a waste a money! Saving for New York now.

    I had a leaking flat roof, needed a new roof.

    Car written off, so had to get a new one, the payout didn't cover what I wanted.
  • YoungBlueEyes
    YoungBlueEyes Posts: 4,041 Forumite
    First Anniversary Homepage Hero Photogenic First Post
    I’m avoiding flat roofs, and end terraces.
    I’m of a similar mindset - not at all materialistic, not a lover of ‘stuff’, a house is a house is a house. It’s more of a ‘most finanicially sensible’ question.
    Good luck with New York :)
    The second man to go over Niagara Falls in a barrel, Bobby Leach, survived the fall but later died as a result of slipping on a piece of orange peel.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
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    I would rent in the new area first. Firstly to see if I liked it and secondly to find out what type of property I would like to live in. I did that when I moved to a new area and rented the type of property I thought I would like to buy, turned out I was glad only to be stuck in it for 12 months.
  • silvercar
    silvercar Posts: 46,955 Ambassador
    Academoney Grad Name Dropper Photogenic First Anniversary
    Possibly a Derbyshire or Leicestershire market town type place.

    How much do you spend on a house? As prices are cheapish now, .....

    Buying in an area you don't know, where prices are cheapish! Sounds a recipe for disaster. Prices are cheap for a reason. Rent first.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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