In budget..at last.

Dan:_4

lostinrates wrote: »

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

That means it was last sold before the year 2000.

lostinrates

Dan: wrote: »

That means it was last sold before the year 2000.

Aha! So they paid one bean and a hot cross bun for it?


ETA: I feel naughty for being rude earlier, or guilty for being pulled up about being rude! I'm joking, honestly, I do know that beans were expensive back in the old days

Dan:_4

lostinrates wrote: »

Aha! So they paid one bean and a hot cross bun for it?

lol...more then likely, yes

Dan:_4

lostinrates wrote: »

ETA: I feel naughty for being rude earlier, or guilty for being pulled up about being rude! I'm joking, honestly, I do know that beans were expensive back in the old days

Don't be silly. We all know you by now!:beer:

LydiaJ

lostinrates wrote: »

But at the back of my mind the little warning light, fired here, of savings errosion is burning away.......

I know just what you mean - the affordable but uninspiring vs the expensive dream. Houses look like that to me too, and I'm not even a serious buyer yet.

I just want to say, don't worry too much about savings erosion ATM. If your savings were for living off, then the threat of inflation of food/fuel prices would be a worry. However, if your savings are for a house deposit, then they won't be eroded until there's HPI again. Of course, nobody knows exactly what's around the corner, but I suspect you've got a little breathing room before that becomes a problem for you.

I Hope it works out for you somehow, anyway.

Lydia

PS I'll try to do some thanking to make up a tiny bit for NDG's departure!

ad9898_3

lostinrates wrote: »

Aha! So they paid one bean and a hot cross bun for it?


ETA: I feel naughty for being rude earlier, or guilty for being pulled up about being rude! I'm joking, honestly, I do know that beans were expensive back in the old days

Thats it then LIR, they have at least 70% equity in the place, so offer 65% off the asking price, then walk.:D

lostinrates

ad9898 wrote: »

Thats it then LIR, they have at least 70% equity in the place, so offer 65% off the asking price, then walk.:D

LOL, wanna make the offer for me?

I'm generally fairly ok with being audatious..but I don't think the comparables would bode well....I can't be the only person excited about this.

DH and I have been reading replies and discussing them and DH is going to talk to the agent tomorrow and probably arrange a viewing for me to go first and have a look around.
Money SAVING experts...that is who we are menat to be. If ad is advocating an offer,albeit a tight one, we are really failing.

You'll all be bulls by tomorrow morning :rotfl:

MrFonzerelli

lostinrates 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!

It sounds like a lovely home, given the lack of a safety net, it may be (IMO) a little too risky in the current economic climate.

Could you (both) buy a place that you can both move into (in decent location) and then sometime into the future get an/the ideal home, maybe selling or letting the previous one?

Of course, you could continue to wait and see, depends how long you don't mind living with the parents (I'm sure they're lovely!).

Whatever decision you make, Good Luck!

lostinrates

MrFonzerelli wrote: »

It sounds like a lovely home, given the lack of a safety net, it may be (IMO) a little too risky in the current economic climate. I agree. Drat the climate. Oh to be ten years older ...I think.

Could you (both) buy a place that you can both move into (in decent location) and then sometime into the future get an/the ideal home, maybe selling or letting the previous one?

Well...the climate has impact here too, really. We could buy something OK. I wouldn't be able to return to my profession from it (rural based career:o)and we'd be making some lifestyle chices, which it may come to, but which we wouldn't really opt for in anything other than short term. And we don't know how long or short term this crisis is goin to be, do we? And if we sink everything into something we are going to move on from then I think there is a good chance we'd lose a little, even if prices maintained there are costs inevitably in buying and selling, and of course the real risk of depreciation. I wouldn't advise a chum to move anywhere they'd out grow within ten years myself, in this climate.

Of course, you could continue to wait and see, depends how long you don't mind living with the parents (I'm sure they're lovely!).

They're my family, what can I say? We want a home, we desperately want our own home, but we also don't want to lose everything. I doubt we'll be imprudent, - I like prudence- but it might be worth seeing what the vendors paid for it and what the story is now.

Whatever decision you make, Good Luck!

Many thanks. Personal threads are always tricky, especially in this subforum, and its hard when you feel someone might be risking a lot and you want to push them out of the path of danger

oldMcDonald

lostinrates wrote: »

. Not my proudest moment. I miss NDG for many things, but in her absense my decreasing thanks to post number ratio makes all those posts look less worthwhile now:o

Ok, I thanked all your posts on this thread, hopefully it will help your thanks / post ratio

I understand exactly what is going through your mind. After putting a lot on hold in order to get some decent savings behind us I am so peed at all the government is doing at the moment - buying a house and being able to step back from all of this seems so tempting, I am feeling very uncomfortable about inflation, QE....I'm sure you know the thoughts I have!

I'm going to admit to something now....we very, very nearly bought a house (well, bungalow) last week. 500 mile round trip to view it - that's how serious we were! We spent all last weekend talking the property up and then talking it down again! It took us three days to realise that, for us, it was a panic reaction and that this property was not 100% for us.

What I am trying to say is (I have had a couple of glasses of wine and know I am probably rambling here!), that for us, we were seriously looking at a property that did not tick all our 'boxes' as we were worried about inflation, QE etc., not because it was a reasonable compromise.

I'm not going to say if I think that it would be right or wrong for you to buy the property you have looked at, only you are able to truely know that, but I do think you should be very careful that you are not just falling into the same 'panic' that we did.