STRs..did you ever doubt?

ShelleyC_2

lynzpower wrote: »

I really love moving. im in the 39th ( i think) home

Amazing how different people are - I've moved loads less times and I loathe it! Maybe I need to be less of a hoarder and then there'd be less to pack and unpack :rolleyes:

bo_drinker

We sold last Sept currently in temporary rent free, slightly off topic but realised we have viewed just 2 houses this year. One we saw on weekend the neighbouring house sold 2 yrs ago for less. I thought they were supposed to be dropping. According to Zoopla it's 15k overpriced. !!!!!!

Davesnave

JonnyBravo wrote: »

Ooooo good stuff. Best of luck Davesnave.
I seem to remember you've been looking for a while, but I've not (and you've not?) been around as much over the last few months so might be wrong??. I hope your new gaff is everything you hoped for, and good luck for the nail biting bit til completion.

Thanks. Yes, we've actually been 'looking' on & off since 2003, but it's a long story.....:rotfl:
There won't be any nail-biting though. We've learned to love and lose, if not cheerfully, then as part of a learning experience. And there's always another one, waiting in the wings!

Secondly, although it's a very good deal, the seller doesn't want complications and needs out, fast. I think that is where STR really counts, especially if you don't need a mortgage etc.

No, I've not been posting so much. I still read quitye a lot here, but it's a case of the more I learn, the wider the gaps in my understanding seem to be!

lynzpower

bo_drinker wrote: »

We sold last Sept currently in temporary rent free, slightly off topic but realised we have viewed just 2 houses this year. One we saw on weekend the neighbouring house sold 2 yrs ago for less. I thought they were supposed to be dropping. According to Zoopla it's 15k overpriced. !!!!!!

Do not- I repeat- do not rely on Zoopla! Its bobbins!

Really2

Glad I never STRed (I was a weekend away from being an STR start of July last year, offer was accepted on our sold house April 08 completed July at £5K under peak.)
I would now be worse off and with falls looking to bottom out at around 30% from peak It looks like my decision to buy was the right one.

Alan_M_2

Really2 wrote: »

Glad I never STRed (I was a weekend away from being an STR start of July last year, offer was accepted on our sold house April 08 completed July at £5K under peak.)
I would now be worse off and with falls looking to bottom out at around 30% from peak It looks like my decision to buy was the right one.

Nope, I've read that and re read it a couple of ties and you've lost me...you seem to be saying by losing 30% you are better off........

space_rider

I did this in June 2006. Loved the house we rented but l/l wanted to sell and I wasn`t going to pay what he wanted. He thought it was worth £179,000 and I offered £160,000. It was eventually sold almost 2 years later for £135,000.

I bought a house in Dec 2006 for £145,000 which was bought by the previous occupier for £189,000. House probably worth around £100,000 Now.

I have 3 children living with me so to continue to rent was not for me as not stable enough. I actually moved 3 times in 2006 and not very good particularly as one of my children was 6. The house I sold was a first time buyers house and I would not have got the mortgage I have now had I not bought it when I did. I`m on a low tracker and I am currently paying £100 less per month to buy than I would be if I was renting this house.

bo_drinker

lynzpower wrote: »

Do not- I repeat- do not rely on Zoopla! Its bobbins!

Okay but as I say the house is more money than a neighbouring place 2 yrs ago. They are supposed to be dropping surely.

Cannon_Fodder

Accidental STRer, here.

Agreed sale Sept 07, but needed to find somewhere to buy (and buyer needed to find their own buyer, too), found a place Nov 08 on same day that our buyer got their buyer - giving spooky, "meant to be" vibes; got halfway through purchase then dropped out due to survey...could see the writing well and truly on the wall by then, so rather than risk losing our buyer by further delay in looking for another purchase, we proceeded on sale alone...and went into rental.

The "nearly-purchased" property is still on market, 18 months later, at barely 7% less than original peak price. Talk about in denial. Seems to believe the Spring-bounce hype, as they took it off the market for a few weeks. Now its reappeared and they've set the asking price 1.5% HIGHER than its previous low!

Have enjoyed waterfront living in a flat, now enjoying countryside living in a cottage. Both have pros and cons, learning first-hand about what we do and don't like, rather than just having the mental picture of the "ideal", through rose tinted specs, has been useful.

Once fixed-rate savings end in the summer, the financial balance shifts back towards buying, but as it will be a cash buy instead of needing a £50k mortgage, expecting perfection in the timing/finances would be greedy.

Pobby

I never did think about STR. If I did I probably got out way to early. I was alarmed at the rises by 2002! We did seriously think at the end of 2005 about selling up and buying a large static caravan by the sea. That would have been quite a good move, certainly when interest rates were paying out a bit as we could have moved back into the market when we felt that prices had bottomed and I don`t mean now.

It`s also a far cry these days when I could save £1,500 pcm from earnings. Thankfully we don`t have a mortgage.