MyChoice HomeBuy Funding Fully Allocated For 2008

ad44downey

This time next year you'll probably get it for £135K. good luck

Chris2685

Well it was £117,000 on the 17/05/2004

But I think that was bought from the council, so bound to be cheap...

I'll keep my eye on it, but I've heard some bad stuff about that street since we were going to buy it anyway.

lostinrates

Chris2685 wrote: »

Boy am I glad we didn't!

You know, me too. When I was new here I was seriously looking at one bed shacks with small amounts of land in long range commuterville where I think DH and I, in retrospect, we wouldn't really fit well. The last place we considered was the three bed repo with 30 acres, place before more land, with a view to building ourselves- that one has been closest to mark so far. But the 30 acre repo (out of commute distance, though, but on a budget we can keep renting in London) and the one bed shack were not so far in price: something I would not have predicted. Its not just property prices its looking way the way we want to live, what we really want to do, how we feel the future will play out and how we will be best placed to be part of that..or not.

geoffky

Just goes to show WHAT we are saving by not buying .some very large sums of money.are being saved by holding back CHRIS you would be pig sick now..

Chris2685

Indeed, if they were to accept a 20k reduction on asking price like they did for us last year, then that would put the property at below 170k. A 40k saving on what we would have paid, and a 60k saving on the asking price at the time, and an 80k saving on the asking price a couple of months before that time.

I don't think I'll ever earn 80k tax free in such a short space of time Not to mention all the costs I would have incurred actually proceeding with the purchase would probably have made it more like 90k savings!

Oh, and the interest (albeit minimal with rates dropping so much!) that I have earnt from the savings I would have used as a deposit! At 3% the interest earnings alone is an extra £750

dopester

Chris2685 wrote: »

I don't think I'll ever earn 80k tax free in such a short space of time Not to mention all the costs I would have incurred actually proceeding with the purchase would probably have made it more like 90k savings!

Oh, and the interest (albeit minimal with rates dropping so much!) that I have earnt from the savings I would have used as a deposit! At 3% the interest earnings alone is an extra £750

Well well well.

The forum had many discussions with you on this - I remember urging you to rent and explaining it isn't dead money - when it seemed for quite some time you were on the cusp of buying through the magic scheme.

All these schemes are just to eat the flesh of the younger people and try to support the value of homes for existing owners, in my opinion.

I'm glad you, not long engaged/married, seem to be happy with the choice you made to delay.

Chris2685

Yup, it took some convincing, but I finally saw that rent is not dead money when you factor in several other things

dopester

Chris2685 wrote: »

Well it was £117,000 on the 17/05/2004

But I think that was bought from the council, so bound to be cheap...

I'll keep my eye on it, but I've heard some bad stuff about that street since we were going to buy it anyway.

Lets hope you discover even further value with prices correcting in the coming months / year +.

BTW. That house was once associated with this business.

Sovereign Chauffeurs
Archive website Sovereign Chauffeurs (2006)

mewbie_2

Chris2685 wrote: »

It's now down to 189,950 (asking).

We were going to pay 210k (asking was 230 at the time, and started at 250!)

Boy am I glad we didn't!

This is one of the most interesting anecdotals on here for a while. How todays 'bargains' can become tomorrow's rip offs. A warning to anyone who sees a few early drops as a chance to rush in.

poppy10_2

Chris2685 wrote: »

Boy am I glad we didn't!

Huh? Why wouldn't you want to spend a quarter of a million pounds on this? :rolleyes: