Your House Price and Moving?

Ed_Zep

Have been in my current house, a 3-bed semi for nearly 5 years. Been very happy here. Noticed a house up the road going for 40K less that I paid for mine!

Anyone worried about their house price, even if you're not thinking of moving?

My nightmare is that the area I'm in drops more relative to others!

blakester

Same house as ours up for sale along the road from us, 3 bed terrace down £25k from last year. Personally I am not worried as have no intention to sell for a long time, and hopefully house prices will not fall far enough for me tobe in NE.

BenL

Where are you Ed_Zep?

Is it a large redundancy area or next door to a car factory?

llh189

Gosh if you worried about everything that could possibly happen to you, you would go a bit mad.

You are obviously not planning to sell your property at the moment so I wouldn't worry.

We all like to check out property prices but remember it is your home and not just an investment.

cocktail

Ed_Zep wrote: »

Have been in my current house, a 3-bed semi for nearly 5 years. Been very happy here. Noticed a house up the road going for 40K less that I paid for mine!

Anyone worried about their house price, even if you're not thinking of moving?

My nightmare is that the area I'm in drops more relative to others!

why are you worried. are you in the process of selling or are you intending to sell in the near future? are about to remortgage?
if not, then the price drops should not matter and should not worry you. if its the family home and you intend to stay there for several years then price drops should not worry you. remember its a home.

scousethife

Exactly 20 years ago people were obsessed with what their house was worth

then we had a resession

now we have done the same again

If the moron population put some effort into being happy rather than money they might find their short lives far richer.

MRSTITTLEMOUSE

I could'nt care less what my house is worth.I'm not planning on selling but if I were other houses would of lost value too so I'd still find something in my price range.Swings and roundabouts as they say.
My house is my home not a cashpoint machine.Even if I was in serious negative equity what difference would it make if I don't intend on moving and plan to stay here.
There are much more important things to worry about in life than how much your house is worth.

whathavewedone

Well it is a worry in that you can't move with negative equity (until prices bottom at any rate) and you also can't remortgage which means that you are very exposed to interest rate hikes and therefore repossession.

If you have to be repossessed better it be in a rising market because at least if you don't owe anything you can start over. Whereas if you owe 50-100k AND lose your home you are pretty much sunk.

I don't see my home as a cashpoint I see it as a home and my mortgage as something to be paid. Owing more money than my house is worth does frighten me. It's why I put a 25% deposit down.

saveallmymoney

The cheaper mine gets, the cheaper my next house gets, its all good news for me.

cocktail

saveallmymoney wrote: »

The cheaper mine gets, the cheaper my next house gets, its all good news for me.

did u mean your neighbours house :rolleyes: , or the next house u have your eyes on ?

saveallmymoney

Well both, but my neighbours house doesn't really interest me!