Are you a FTB'er in the last 2-3 years?

vishpatel

I'm curious...

If you don't mind saying, please post about what you bought, how much it cost & how much you earn.

I just want to see what young people can afford these days.

Thanks!

safesound

Me: late 20's, Hubby: Early 30's
Bought September 2005.
Semi detatched cottage, in rural area about 20 mins drive from Cardiff
Paid 94K Morgaged for 27K

We were lucky though, hubby was left money by his mother. We decided it was better to get a fixer-upper that we could afford rather than a pristine example that would have swamped us with debt.

sharon

abi113

Hi

We were 2 yrs ago

Me - 16
Colin - 20
Bought sept 2003
62K mortgage ,earning mid 20K ,sold for 110 at the minute

BenL

Just over 2 years ago

Me -22
Ame - 20

Bought Aug 03

House £83000
Mortgage £78850 95%

I think we earnt just under £30K between us.

On market now for £112500

The mortgage was 4.19% at Nationwide and was £420 ish for 2 years fixed rate.

Ben

thetope

bought 3 years ago, house 70k, 63k mortgage value. salary 13k (at the time) with parent as guarantor but no actual help with mortgage payments. i had a lodger to make ends meet. current salary 19k, house value currently 120k so i'm mighty pleased.

nmiah786

Two years ago.

Dec 2003

Paid £149k, 90% mortgate = £134k

Age was 25 and salary £35k at the time.

Is it just me or did most of who have posted so far would report a increase in their property value in the two years since the bought their propery!!!

I'm hoping to sell in January for £160k minimum!!!! I ONLY HOPE!!!!

Robert_Sterling_3

A little interlude for a nostalgic look back.

My Dad:-

Bought two joined together semi-detached houses in 1928
One had a sitting tenant.
The tenant paid £0.55 per week rent
The two houses were bought at auction.
My father got a mortgage for £300 from the infamous Grays Building Society.
I think the two houses cost £700.
My Dad was 28 and my mother was 29.
In 1939 when the war started the rent for the house was fixed at £0.55 per week until the tenant died in about 1950.
Meanwhile throughout the war the Council Rate on the rented house was about £0.27 a week and the tax on the rent was about £0.27 per week as it was called "unearned income" and taxed at 50%. Leaving 1p a week.
The mortgage was a 13 year mortgage and was paid off by 1941.
The rented house was sold in about 1950 for £1150.
My father's house was sold in 1989 for about £67,000
It is now worth about £167,000.

Fast forward a generation.
It is 1964
I bought a spacious 4 Bed Edwardian Semi in London
Price £5500.
Mortgage £3,600 Monthly payment £28.63
Sold in 1980 for £37000
Bought a bigger house £55000
Mortgage £25,000 Interest Rate 16%
Now worth £550,000.

nmiah786

Excellent interlude Robert :rotfl: Enjoyable it was!!!

Just goes to show that in the long run (at leats 10 years) prices will increase, there might be fluctuations in between though!!!!

rrwfotr

nmiah786 wrote:

Excellent interlude Robert :rotfl: Enjoyable it was!!!

Just goes to show that in the long run (at leats 10 years) prices will increase, there might be fluctuations in between though!!!!

Just goes to say property will always go up, and owning brick and mortar is better then paper money in shares etc.

eldbs

Bought June 2003

Salary at the time was 20k

House price was 74950

100% mortgage

recent valuation - 125000

outstanding mortgage (thanks to interest free cards) - 60k

kinesin_2

rrwfotr wrote:

Just goes to say property will always go up

That's called inflation

When adjusted for inflation there are big periods where house prices where static. Investments in shares/elsewhere would have earned above inflation returns during these periods.

I know it's off topic for this thread, but:

http://www.elliottwave.com/features/default.aspx?cat=emw&aid=2052&time=am

Here’s a fun fact. In the 25 years from 1973 to 1998, the UK’s inflation-adjusted house prices showed no change. And in the 6-year period between 1998 and 2004, those prices more than doubled.