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  • FIRST POST
    • LKRDN_Morgan
    • By LKRDN_Morgan 30th Aug 17, 9:01 PM
    • 272Posts
    • 815Thanks
    LKRDN_Morgan
    Is this buyers remorse?
    • #1
    • 30th Aug 17, 9:01 PM
    Is this buyers remorse? 30th Aug 17 at 9:01 PM
    Completed today on our first ever home. When I got the call from the solicitor to say everything's done I was excited but now a few hours later I feel like a wreck!
    I don't know what's wrong with me! I loved this house when we viewed it. I loved it when I went back to measure after exchange but now I'm sat back in my rented thinking wtf have we done.

    Is this really normal?? Does it pass? I'm never emotional but right now I'm feeling like I could burst into tears at any moment
Page 10
    • vacheron
    • By vacheron 27th Sep 17, 12:59 PM
    • 710 Posts
    • 605 Thanks
    vacheron
    Depends how one defines 'hardly anything' I suppose.

    We were selling in 2008. Our house lost 3 sets of buyers and eventually sold for about 16% less than the first agreed sale price.
    Originally posted by Davesnave
    Way up here (North East) the houses we were looking at fell perhaps 5-10%.

    I suppose this is the way I look at it:

    If I moved my 7 years of home ownership back in time to the worst case scenario of buying in 2001, (7 years before the crash), and selling right at the bottom in 2008, my house would have lost 10% in value (this is assuming assume house price inflation between 2001 and 2008 was 0%, however in reality it more than doubled!) .

    By not renting during these 7 years I would have been able to save the equivalent of 21.7% of the value of the house by not renting an equivalent property. This means that even selling in the in the largest crash (correction) for decades I would still have been 10% better off buying!
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
    • _CC_
    • By _CC_ 27th Sep 17, 1:01 PM
    • 259 Posts
    • 232 Thanks
    _CC_
    but for people like Crashy, who kept waiting for the cataclysm which never came, it was then too late to act.
    Originally posted by Davesnave
    Crashy is never going to 'act'. He'll forever be a jealous troll who spends his time trying to worry potential or existing buyers, probably because he doesn't really have the means to buy somewhere himself or put together a plan to see him/herself financially secure. If crashy was comfortable with their own choices, why would he/she spend so much time spouting the same HPC rubbish to strangers on the internet for over a decade?
    • Crashy Time
    • By Crashy Time 27th Sep 17, 8:54 PM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    It is amazing, when front line politicians are basically getting up to the podium to reel off a HPC wish list that people still try to pretend that the crash has been and gone. It is a bubble, a big one, and it is now causing big political and social problems and has to pop, or be popped.
    • qwert yuiop
    • By qwert yuiop 27th Sep 17, 9:50 PM
    • 2,024 Posts
    • 1,178 Thanks
    qwert yuiop
    For anyone without kids, you get basically the same feeling the first few moments the baby is put into your arms.

    Stress worry, excitement, fear..its all in there.
    Originally posted by Boredatwrork
    I'm told it eases when your baby gets their first job.
    • Crashy Time
    • By Crashy Time 28th Sep 17, 8:57 PM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    Depends how one defines 'hardly anything' I suppose.

    We were selling in 2008. Our house lost 3 sets of buyers and eventually sold for about 16% less than the first agreed sale price.

    I'd say 16% was a decent reduction, especially as the area was far from shabby. By 2012/13 prices there had recovered, but for people like Crashy, who kept waiting for the cataclysm which never came, it was then too late to act.

    We bought again in 2009, not because we knew cleverly that things were at the bottom, but because we'd found somewhere that suited. Also, for average guys like us, it was actually quite scary having virtually all our assets as pixels on a computer screen, rather than a building & land.
    Originally posted by Davesnave

    The day that the pixels don`t translate to cash in hand is the day that your house won`t be worth very much, and you won`t be very safe inside it, so that isn`t a very good reason to tie your assets up in a very illiquid asset which is in a depreciating market IMO.
    • DaftyDuck
    • By DaftyDuck 28th Sep 17, 9:25 PM
    • 3,749 Posts
    • 7,568 Thanks
    DaftyDuck
    It is amazing, when front line politicians are basically getting up to the podium to reel off a HPC wish list that people still try to pretend that the crash has been and gone. It is a bubble, a big one, and it is now causing big political and social problems and has to pop, or be popped.
    Originally posted by Crashy Time
    Poop... Total poop!
    • DaftyDuck
    • By DaftyDuck 28th Sep 17, 9:27 PM
    • 3,749 Posts
    • 7,568 Thanks
    DaftyDuck
    The day that the pixels don`t translate to cash in hand is the day that your house won`t be worth very much, and you won`t be very safe inside it, so that isn`t a very good reason to tie your assets up in a very illiquid asset which is in a depreciating market IMO.
    Originally posted by Crashy Time
    You might not be very safe... but you'll be even less safe in some rented shack - from which you will be turfed out, for them to realise their assets!

    Meanwhile, you'll end up with fewer assets to vanish, having wasted all that money on rentals.
    • Davesnave
    • By Davesnave 29th Sep 17, 6:58 AM
    • 23,306 Posts
    • 88,887 Thanks
    Davesnave
    The day that the pixels don`t translate to cash in hand is the day that your house won`t be worth very much, and you won`t be very safe inside it, so that isn`t a very good reason to tie your assets up in a very illiquid asset which is in a depreciating market IMO.
    Originally posted by Crashy Time
    Those of us who had our pixels in Icesave (remember them?) and Kaupthing (who?) know all about how 'liquid' they are when things go paridae-up!

    Maybe you were too young, or probably, too poor.

    I will be very safe in my house, thank you. It's paid for, allows a fair amount of self-sufficiency, if required, and is of a type they don't make any more. I bought it with one eye on future-proofing.

    But thanks for your concern.
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • qwert yuiop
    • By qwert yuiop 29th Sep 17, 7:47 PM
    • 2,024 Posts
    • 1,178 Thanks
    qwert yuiop
    Now there's an icy blast from the past - who remembers all those headlines about assets frozen in Iceland?

    Evening Standard tonight is adding to the unease, with a front page article about falling prices and potential rate rises.

    Crashy - what part of England (I presume) are you living in? Could this be your chance? Powder dry?
    Last edited by qwert yuiop; 29-09-2017 at 7:49 PM.
    • Crashy Time
    • By Crashy Time 1st Oct 17, 11:09 AM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    You might not be very safe... but you'll be even less safe in some rented shack - from which you will be turfed out, for them to realise their assets!

    Meanwhile, you'll end up with fewer assets to vanish, having wasted all that money on rentals.
    Originally posted by DaftyDuck

    Who would buy it from them in a true meltdown scenario though? It would make more sense to keep the tenant there if possible so that they could scrape a few crumbs of rent to make up for all the other money they will have lost in the scenario where pixels on a screen don`t translate into hard cash.
    • Crashy Time
    • By Crashy Time 1st Oct 17, 11:13 AM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    Those of us who had our pixels in Icesave (remember them?) and Kaupthing (who?) know all about how 'liquid' they are when things go paridae-up!

    Maybe you were too young, or probably, too poor.

    I will be very safe in my house, thank you. It's paid for, allows a fair amount of self-sufficiency, if required, and is of a type they don't make any more. I bought it with one eye on future-proofing.

    But thanks for your concern.
    Originally posted by Davesnave

    That sentence alone means that you should never ever be giving financial advice to anyone, ever. You eventually got your money back though didn`t you, or most of it? I don`t think recent borrowers into this property bubble will be so lucky
    • Davesnave
    • By Davesnave 1st Oct 17, 11:23 AM
    • 23,306 Posts
    • 88,887 Thanks
    Davesnave
    That sentence alone means that you should never ever be giving financial advice to anyone, ever. You eventually got your money back though didn`t you, or most of it? I don`t think recent borrowers into this property bubble will be so lucky
    Originally posted by Crashy Time
    I didn't say I had all of my money in those banks. I spread it around, as I was advised to do by this site, among others.

    I lost nothing. I got out of Kaupthing in time. Icesave took longer.

    Because I may have once made an error, I am, apparently, damned for all time from exercising judgement. Well then, that's me and the vast bulk of human society who can't live up to your high standards.

    What drivel!
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • Crashy Time
    • By Crashy Time 1st Oct 17, 11:39 AM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    I didn't say I had all of my money in those banks. I spread it around, as I was advised to do by this site, among others.

    I lost nothing. I got out of Kaupthing in time. Icesave took longer.

    Because I may have once made an error, I am, apparently, damned for all time from exercising judgement. Well then, that's me and the vast bulk of human society who can't live up to your high standards.

    What drivel!
    Originally posted by Davesnave

    Ok fair enough, but the example of two dodgy banks going under isn`t really relevant to whether or not putting money into a property bubble is more sensible than accepting that the chances of not getting your money back from NS&I, Vanguard, UK/German/US bonds etc. is pretty much zero. As you say diversifying it around is prudent, but all on property (as I understood the OP to mean) is all concentrated risk.
    • _CC_
    • By _CC_ 1st Oct 17, 3:29 PM
    • 259 Posts
    • 232 Thanks
    _CC_
    It is amazing, when front line politicians are basically getting up to the podium to reel off a HPC wish list
    Originally posted by Crashy Time
    http://www.bbc.co.uk/news/business-41459446

    I didn't know HTB was in the 'HPC wish list'. Learn something new every day
    • Crashy Time
    • By Crashy Time 1st Oct 17, 7:15 PM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    http://www.bbc.co.uk/news/business-41459446

    I didn't know HTB was in the 'HPC wish list'. Learn something new every day
    Originally posted by _CC_

    The more they try to prop it up, the more the chance of JC as PM increases IMO (He is probably going to win it anyway) then it will be a proper crash, bond markets, run on the pound, the whole nine yards.
    • Crashy Time
    • By Crashy Time 2nd Oct 17, 10:55 AM
    • 5,006 Posts
    • 2,157 Thanks
    Crashy Time
    Poop... Total poop!
    Originally posted by DaftyDuck

    Are you able to explain, or is this just an automatic response to something you don`t like?
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