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

Viz_2

Me - 29
Partner - 24

Bought October 05 for £185000
Mortgage £165000

Salary - Me - £46k
- Partner £26k

She now housewife only.

We have a 2 year fixed rate with Halifax at 4.29 % ( 90% mortgage ), 25 years.

Gray0103

Bought flat 10/10/2002
Aged 28
Earnings £20K

Price paid £72K Mortgage £66 (Nationwide 5 yr fixed rate 4.95%)

Sold 01/10/05 £105K

Now have a house with my wife at £130K, £60K Mortgage (as above just transferred it) due to both our previous properties making money.

kjl26

Bought flat in London, July this year - I am 24, OH 26.
Combined salaries = c. 48K
Price paid = 210K
Mortgage = 150K fixed for 27 months @4.59%

Harpoon_2

Bought: June 2003 (moved in the weekend of my birthday!)

Price : £71k
Deposit: I forget how much exactly but enough to get the mortgage under 95% LTV
Earnings: £30k

meadowcat

DD (single) bought first house 3 years ago. Four bed 1980's semi in Belfast for £89,950. Now worth at least £135,000.

Anna_J_2

Me - 22
O/H - 33

Bought April 2005
Combined salaries £28k
Price Paid £108k
Mortgage £95k

meanmachine_2

The big problem some of you hoping to make a fast buck now have is that, thanks to nethouseprices, I can see exactly how much you paid.

In the area I'm looking at, house price inflation has officially been zero or negative during the last 18 months.

Anyone trying it on, thinking their property is worth X amount, because "property always goes up" won't be getting a penny from me...or any other clued up FTBer.

Just something to bear in mind.

But then, those internet sites help you guys with your second purchase just as much, so we all win.

And the poster who claims that shares have underperformed property needs a new calculator.

Anecdotally, I've been looking at property these last few weeks and, except for one flat, every single one was a BTLer selling up.

That tells me something ain't right with the market. Oh, and I've concluded that the agents were being so nice to me because they were so desperate for my money.

I'm back to being bearish on property. with fixed rates rising and mortgage approvals falling, there's only one way for it to go in the next 2-5 years.

Bestthingsinlifearefree

Reading all the posts the moral of the story seems to be more or less everyone who purchased in the last few years have done very well finanacially out of owning property.

To be honest you could buy in 2000 or 2005 or 2010 and prices the next year could suddenly go down or up.That positive / negative risk will always be there when ever you buy.

The key seems to be as long as you can afford your mortgage long term renters always lose and long term home owners always win.

Personally I think 2006 / 2007 are going to be another good few years for the housing market with steady growth of 1-4%.

Gray0103

Bestthingsinlifearefree wrote:

Reading all the posts the moral of the story seems to be more or less everyone who purchased in the last few years have done very well finanacially out of owning property.

Have they ?
IMHO If you don't sell you don't make money on property, its ok me saying bought a house for £100 K it is now worth £130K, but unless you sell or release the equity that £30K is meaningless.

skintchick

It's also meaningless when you want to move up the ladder. EAs say the best time to move up is when prices have dropped, for the following reason:

When house prices go up by say 10%, a £200,000 house becomes £220,000, but a £400,000 house becomes £440,000. Difference £220,000

By contrast, if prices drop by 10%, the cheaper house is now £180,000 and the expensive one is £360,000. Difference £180,000, which is £40,000 'cheaper'.

Hope that makes sense!