SmlSave MFW diary - where to start?

Brodiebobs

Gutting isnt it, we paid £90,000 for ours in 2007, spent about £15,000 doing it up and next door is for sale for £75,000 and no interest at all

The only thing that makes me feel better is that all the profit we made on last house we put down as deposit and we discovered MFW so thankfully our mortgage is less than that if worst comes to worst

CathT

SmlSave wrote: »

Noooooooooooooooooo! Our house has just been valued at £105,000-£115,000 and we bought it for £125,000. How gutting!

Oh no that's disappointing, does that change your plans now?

SmlSave

Thanks for your msg Brodie. We too have spent thousands doing our place up and its perfect apart from not having a parking space and having steps up to the house. Like you say though - imagine how worse off we'd be without MSE!

I'm not sure if it changes our plans Cath, its all up to the mortgage advisor tomorrow now. There's no rush but i just keep saying at odd moments - "£110,000!!!"

Oh and Jacob had his first Dr's appointment which went well. He's now 10.5lb and has stork marks not only on his neck but on his eye and forehead too - I thought he'd just scratched himself!

Brodiebobs

Without MSE we'd still be on interest only with a few grand in debt!!

Suppose you have to just count your blessings, we're in the same situation we dont want to sell at such a low price, but there seems to be so many 'cheap' houses for sale, it makes me think we should take the hit for our forever home.

One we looked at before we bought this, we fell in love with but it was offers over £125k and we couldnt afford it at all, i checked on rightmove after it sold (geeeek in know!) and it sold for £132k, its now been on the market for £100,000 for 5 months as a repo, i dearnt go into estate agents as i think if i offered £90,000 they'd bite my hand off, and i cant be trusted not to blurt it out :rotfl:

Radish72

SmlSave wrote: »

Noooooooooooooooooo! Our house has just been valued at £105,000-£115,000 and we bought it for £125,000. How gutting!

Pants, Pants and more Pants

Lois_E

It's all relative. If the house you want to buy has fallen more than yours, then you're still quids in even if yours has dropped. Of course if you want to stay put but remortgage then falling values are a pain because it decreases the LTV, or if you are selling a house for someone who's died or gone into a care home or something, but otherwise most of us should be OK.

pammyj74

SmlSave wrote: »

Noooooooooooooooooo! Our house has just been valued at £105,000-£115,000 and we bought it for £125,000. How gutting!

It is demoralising isnt it. We all have a figure in our heads how much we think our house is worth.

Lois_E wrote: »

It's all relative. If the house you want to buy has fallen more than yours, then you're still quids in even if yours has dropped. Of course if you want to stay put but remortgage then falling values are a pain because it decreases the LTV, or if you are selling a house for someone who's died or gone into a care home or something, but otherwise most of us should be OK.

This is how I think of it, everyone is in the same boat. If your house went up in price then the house you want to buy would do the same.

SmlSave

Just popping in to say everything is going well Jacob had his first jabs yesterday and we're going to do our first bus trip to town today.

Re the house: we've worked out that we can afford £140,000 and that there are some suitable houses out there. We'll make our final decision in Sept after we've redone the bathroom which will either make it much easier to sell or nicer to live in

Hope everyone is well.

Radish72

Have a lovely day in town, hope Jacob enjoys his first bus ride

pammyj74

I was looking at houses again today but the problem with me is my bedroom is huge and I am not moving to smaller! Plus where my sister has moved to I am not that sure on the different areas as to what is good and bad. So you may think you get a bargain until you see it and realise why arrghhh. I will keep looking and maybe one day one will jump out at me hopefully.

Did Jacob enjoy his bus ride? Did you cope ok?