Shame on you!!!!!!

hethmar

Im sorry DID, but you could have just bought and sold houses that didnt need doing up just to get the HPI, couldnt you?

moneysaver

DownintheDumps wrote: »

. For most it's always just been bread and butter money, the equiverlent of working in a pub or on a building site but people lie and don't include all the fees and extras so now you know.

Would you not have been better working in a pub then? Rather than risk all you savings for very little profit. After all you have a family to think of & taking a gamble is not a sensible thing to do.

Or were you just jumping on the property bandwagon & it has not worked for you?


Moneysaver

clobber_2

Like pasturesnew, I refute the suggestion that this wasn't obvious in summer 2007. Like her, I put my house on the market late 2006, and in early 2007 slashed the price because I was so desperate to sell.

The chap who bought gazundered, which I accepted, partly because I thought he was still buying at a generous price.

Once the money was in my bank in April 2007, I breathed a massive sigh of relief, because the writing was on the wall then.

I am very fortunate in that, unlike PN and others, I am not relying on interest to provide me with an income.

You must have gotten the most amazing fixed rate to be unable to afford the SVR. Interest rates are astonishingly low now.

neverdespairgirl

DownintheDumps wrote: »

a bit of value has been added with all your hard work but you have to sell quick to get your money back so your looking for an offer so you are not goint to amke more than a few grand, and with the hours you put in labouring it works out minimum wage.

Then why on earth do you bother?

PasturesNew

clobber wrote: »

...
The chap who bought gazundered, which I accepted, partly because I thought he was still buying at a generous price.

I would have been grateful to have been gazundered by about £12k. I was gobsmacked he never even tried to be honest! To me that was "money gone" right from the off, I was most surprised it stayed in my pocket!

PasturesNew

My income's been slashed to 1/3rd of what it was a year ago.

Just having a tot up, daren't look it's so low now

This interest drop was fatal for me.

I've gone from having more money than ever before, to barely scraping by, certainly under poverty level, in just the last 2-3 months. Certainly didn't expect that.

I clearly planned very very badly. Now need to urgently correct this by getting a thing called a "bloomin' job"! Gap year's over!

shirlgirl2004

I can't understand why someone would want their children to live in a building site for 2 years just for a holiday? As has been suggested a day working elsewhere on minimum wage would have provided that and would have given the children a better homelife.

fatpig_2

DownintheDumps, give it up, and get a proper job.

PasturesNew

I know some people that moved to an area in 1997 and bought a house for just under £70k. They have done NOTHING to it. Nothing. It still has the old wallpaper of the previous owners. It still has the previous owners' carpets. All bad, bad taste. It still has the old fashioned kitchen units, faded and scratched. It still has the hideous pink bathroom suite and other nasty, nasty features.

Nothing they've done. Just lived in it.

Put on the market today it'd probably actually fetch about £230k.

£160k for an old fashioned house with nothing spent on it. How much did the OP make?

wymondham

DownintheDumps wrote: »

You all think you know so much because you watch a bit of Beanie on the telly, well most of what developers make has only ever been HPI, you don't add much value any other way.

If you buy a £200,000 house that's cheap because of fire damage or been trashed its £10,000 in fees straight up, then you add an extension, fix the roof, even minimum with fixtures and fittings and new kitchen and bathroom, £35,000 probably more, then mortgage payments, might borrow a bit extra to start with to cover them, a contingency in case you missed anything which could wipe out all your profit. Then ther's fees again at the end another £10,000. Meanwhile that £200,000 house has gone up 5% a year with HPI (but your next one will be 10% more too), a bit of value has been added with all your hard work but you have to sell quick to get your money back so your looking for an offer so you are not goint to amke more than a few grand, and with the hours you put in labouring it works out minimum wage. Without HPI it's pointless and too much of a gamble, anyone can see that. The ones you see on the telly gambled millions to make thousands and they were only the sucessful ones. For most it's always just been bread and butter money, the equiverlent of working in a pub or on a building site but people lie and don't include all the fees and extras so now you know.

Sorry, but I have to ask... why bother with all this? it's all way too much hassle for the what it's worth........