Would I lose out if I get OFF the property ladder for a while

Entertainer

freeride wrote: »

Also, If the housing market doesn't drop by your predictions any time soon, you'll be paying rent for longer. Perhaps the saving won't be a big as you think.

And not paying mortgage interest either.

freeride

Gwhiz wrote: »

It does sound like I'm making it up :rotfl:

Let's just say I am definitely better off right now than if I decided to sell right now. Who know what the future holds!!!

I think

I'd agree, your in a good position now the market has gone pear.

I'm still baffled by how you can earn on a peice of land when you have never owned it though......:rolleyes:

Anyway, are you building the house yourself or getting very expensive architects/engineers and rip off builders to do it for you?

Gwhiz

freeride wrote: »

I'd agree, your in a good position now the market has gone pear.

I'm still baffled by how you can earn on a peice of land when you have never owned it though......:rolleyes:

Anyway, are you building the house yourself or getting very expensive architects/engineers and rip off builders to do it for you?

No the land is today worth less than IF I had purchased it a year ago so I was just talking about the fact that I need £100k less today to purchase it. Anyway.. let's move on

My ex-neighbour and his wife, who are great friends, are property developers (they built my last home before - bought from them before I knew them). So they will do it for me at an agreed £ per sq foot price that I know will be kept to and will be of good quality. Otherwise I'd be panicking!!!!

freeride

Gwhiz wrote: »

No the land is today worth less than IF I had purchased it a year ago so I was just talking about the fact that I need £100k less today to purchase it. Anyway.. let's move on

My ex-neighbour and his wife, who are great friends, are property developers (they built my last home before - bought from them before I knew them). So they will do it for me at an agreed £ per sq foot price that I know will be kept to and will be of good quality. Otherwise I'd be panicking!!!!

Always handy to know property developers. I'm sure your house will be worth more than anyone elses when its finished. Good Luck with it....

Gwhiz

freeride wrote: »

But the land would be worth less then a year ago....... Lets move on.

Always handy to know property developers. I sure your house will be worth more than anyone elses when its finished. Good Luck with it....

I don't own the land yet, I think this is where the confusion lies. Good plots are only just filtering through now as land bankers (developers) get to the point where they need to sell. A pair of plots up for sale last year at around £1M went for about £725K recently (the seller only wanted to sell both together so I could not go for it) so the prices are just starting to get attractive but I'm still looking for the right plot.

Anyway... let's hope it goes smoothly when I do eventually start.

freeride

Gwhiz wrote: »

I don't own the land yet, I think this is where the confusion lies. Good plots are only just filtering through now as land bankers (developers) get to the point where they need to sell. A pair of plots up for sale last year at around £1M went for about £725K recently (the seller only wanted to sell both together so I could not go for it) so the prices are just starting to get attractive but I'm still looking for the right plot.

Anyway... let's hope it goes smoothly when I do eventually start.

If you get the right piece of land and builders you'll be OK. I'm sure.

Where you looking?

Gwhiz

freeride wrote: »

If you get the right piece of land and builders you'll be OK. I'm sure.

Where you looking?

At present around Lilliput/Lower Parkstone area of Poole. However I may end up going a little inland (Wimborne and surrounding area) or West as prices are far more reasonable. However, even Somerset sounds good!

freeride

Gwhiz wrote: »

At present around Lilliput/Lower Parkstone area of Poole. However I may end up going a little inland (Wimborne and surrounding area) or West as prices are far more reasonable. However, even Somerset sounds good!

We bought our first house in Poole. Nice area.

I have a look on Rightmove now and again at the house prices in the area, they dont seem to be dropping that much, then again im only looking at mid to lower end properties only.

pawpurrs

I was down that area recently, brother is a developer in that area, considering that area myself, but prob purbeck.

Gwhiz

pawpurrs wrote: »

I was down that area recently, brother is a developer in that area, considering that area myself, but prob purbeck.

The Purbecks are wonderful! Not sure I'd want to do the ferry every day but I guess if you do it early enough it would make for a fun commute

It would be funny if your brother was my neighbour! You're not from Sheffield are you?