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Debate House Prices


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Property Price Drop

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Comments

  • kier333
    kier333 Posts: 318 Forumite
    Can i just state that the cost in terms of council tax/food is no more expensive than any surrounding county, its costs me more currenly in herts.
  • kier333
    kier333 Posts: 318 Forumite
    davilown wrote: »
    Fair dues but would love to see the price on the market in five years. A pint says it will be less than you've paid for it (plus all the interest you've paid as well).

    And in 10yrs?
  • davilown
    davilown Posts: 2,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    kier333 wrote: »
    And in 10yrs?
    You may get the £155k back but not the £60k - £70k interest payments:D
    30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
  • davilown
    davilown Posts: 2,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    kier333 wrote: »
    Can i just state that the cost in terms of council tax/food is no more expensive than any surrounding county, its costs me more currenly in herts.
    So why will you qualify for a London Weighting allowance?
    30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
  • kier333
    kier333 Posts: 318 Forumite
    davilown wrote: »
    You may get the £155k back but not the £60k - £70k interest payments:D

    this is true so no different to renting then.

    Hey why is everyone so up tight on here?
    Worse case senario is it goes back to the building society and i lose 18k, a huge loss however people suffer worse everyday, ie new car purchases, property in Bulgaria etc etc
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    davilown wrote: »
    You may get the £155k back but not the £60k - £70k interest payments:D

    where can you get a property or even a mortgage that gives you the £60k or £70k? :p
  • you will be earning no interest on this investment. better off in a 6% bond
  • davilown
    davilown Posts: 2,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I'm not being uptight, I just wouldn't be buying for the aforementioned reasons. Obviously its up to you but it just seems like from your posts that you had already bought the flat and were having second thoughts about proceeding. Don't like seeing people lose money when it can be avoided (except the people who thought buying at 6x income was sensible and in so doing, ruining the country)
    30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
  • kier333
    kier333 Posts: 318 Forumite
    davilown wrote: »
    So why will you qualify for a London Weighting allowance?

    I guess it is more expensive than say up North however i currently live in Herts so not a million miles from London, hence cost being the same

    And because property is more expensive ie a 1 bed flat in herts/beds would be 120k max
  • davilown
    davilown Posts: 2,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    chucky wrote: »
    where can you get a property or even a mortgage that gives you the £60k or £70k? :p
    True but waiting those few extra months can take the price down even more. 12-15 months time London prices should be near the bottom ( not at it) and with it another £30k - £45k price reduction
    30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
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