In budget..at last.

lostinrates

SamIAm wrote: »

I'll be following this thread with interest adding my 2 cents whether you want it or not

It might be worth 2 cents, and not an undesirable opinion, but I'll only be offering 1.32 cents. If thats acceptable, good

Dan:_4

Good luck in whatever you decide LIR.

MrFonzerelli

lostinrates wrote: »

Well, DH and I are back from property viewings again today. We did see, at last, a property that on paper fills our needs, is not in a comprimised location....and is in budget. Although adaptations would have to me made we could make the purchase with a > 60% deposit and a > than 2 times mulitple. But typically, there were some reasons why its not ideal.

Its worth pointing out that six months ago I would have jumped faster than a flatracer out of stalls at this chance.

The current 'dream' house we have a 13% deposit for, at a so big I don't dare type it mulitple BUT would also lend itself to a business oppertunity for me AND DH and I could actually live together.

I would be tempted to go for the more expensive one. This of course, depends on the finer detail of the wage multiple, job stability, ATR and standard of living each would bring. Then again the cheaper one in a nice area that sounds fine too.

If you do run into problems work wise (never possible to know) then would the govt interest payments based upon on 200k max cover the mortgage? If so worst case you'd be getting paid by the govt to live in a nice home of your choosing (presuming scheme continues to run).

In the long run I find it very difficult to see where house prices are going, we don't know how far QE is going to go in devaluing paper. Even forecasting from historic trends is difficult; whilst the population is increasing, there's not that many quality new homes or new places to put them.

As we know in the long run prices will always go up, however, it's incredibly difficult to call the bottom.

PasturesNew

Well, my answer is: I don't know.

lostinrates

Thank you Dan.

If I weren't aware I'd probably be unduly exciting the vendors I'd go and view, hoping to find a deal breaker. There is a business that likely would have felt an impact from current economic situation registered to the address, and I found they were seeling other large items...so part of me wonders if there is an element of need to the sale....but I can't find the previous purchase price for it, which would help with deciding how 'brave' an offer I could make if they are in need of sale and trying to avoid putting it to a forced sale position...I'd rather a low but 'profit' offer than reposession myself, although its purely speculation that there could be an element of need to sell.

Maybe I should check land registery?

SamIAm_3-2

lostinrates wrote: »

If I weren't aware I'd probably be unduly exciting the vendors I'd go and view, hoping to find a deal breaker.

Why unduly? Saying that sounds as if you have already made your decision. I'm sure the vendor would be happy to have your viewing even if there was only 1% chance of you buying the place.

If I were you I would definitely go and see it. It can't do any harm (provided you haven't already made your decision yet, that is).

Dan:_4

http://www.nethouseprices.com/index.php?con=Search-Sold-House-Prices

Type the postcode in here and it should tell you how much it last sold for.

lostinrates

MrFonzerelli wrote: »

I would be tempted to go for the more expensive one. This of course, depends on the finer detail of the wage multiple, job stability, ATR and standard of living each would bring. Then again the cheaper one in a nice area that sounds fine too.

Wage mulitple, high to wetting pants point, job stabilty.. solicitor, corporate law...no redundancies at firm yet, or predicted...but hey..who the hell knows. My feeling is if DH loses job then an ark is the only safe house, but thats a possible too. Of course, should my business take off that would reduce the pressure. After the property all I need is hard work and clientele, very little extra outlay, bar insurances. Standard of living...well, I think the house would improve it: we current ly live with my parents and DH's lodges in London four nights a week. Its doable, but sharing digs would make eating value baked beans worthwhile...for a few years anyway

If you do run into problems work wise (never possible to know) then would the govt interest payments based upon on 200k max cover the mortgage? If so worst case you'd be getting paid by the govt to live in a nice home of your choosing (presuming scheme continues to run).
No.:o

In the long run I find it very difficult to see where house prices are going, we don't know how far QE is going to go in devaluing paper. Even forecasting from historic trends is difficult; whilst the population is increasing, there's not that many quality new homes or new places to put them.
You might find it difficult, I find it impossible!
As we know in the long run prices will always go up, however, it's incredibly difficult to call the bottom.

I agree. And getting at the absolute bottom is a false issue I think. I would generally say affordabilty and future proofing is. This is future proof, we wouldn't out grow it...if we could afford it!

VfM4meplse

Just be glad you have found the ideal property. I am beginning to think it doesn't exist.

lostinrates

Dan: wrote: »

http://www.nethouseprices.com/index.php?con=Search-Sold-House-Prices

Type the postcode in here and it should tell you how much it last sold for.

No, I can't find it there. I've been looking, I can find others in the same road, but not it.:mad: