STRs..did you ever doubt?

space_rider

lostinrates wrote: »

When you have moved as often as Lynzpower you simply don't unpack the sign.:p

Not long after I moved in here there was lots of properties up for sale that had been repossessed. I saw a lovely 4 bedroom detached with study and dining room but kids too traumatised to move again! There is another house which is the same and would probably go for just a bit more than mine up for sale now. I have always wanted to live in a detached square house with a chimney on top with 4 windows and a door in the front. Shame about the kids:mad:

mewbie_2

space_rider wrote: »

but kids too traumatised to move again!

If you leave them a forwarding address the clever ones will work it out eventually.

Really2

Alan_M wrote: »

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........

I got 27% off apil 08 price.
Same house off plan as just sold for £15K more than I paid without flooring etc. That house is not compleated for another 2-3 months.

Add to that a mortgage at .49 over BOE for life and paying off £1K a month. I would count that as currently a lot better off.
I have not lost the 30%:)
(perhaps I should of stated my discount but I thought many may have remembered.)

mewbie_2

Really2 wrote: »

I got 27% off apil 08 price.
Same house off plan as just sold for £15K more than I paid without flooring etc. That house is not compleated for another 2-3 months.

Add to that a mortgage at .49 over BOE for life and paying off £1K a month. I would count that as currently a lot better off.
I have not lost the 30%:)
(perhaps I should of stated my discount but I thought many may have remembered.)

I think we remembered, but wonder what % off you would currently get?

PasturesNew

It's difficult to say how much you gain/lose by STRing until the event's over.

You have to have sold, rented, bought again before you can start to do the sums.

What if .... I don 't buy in time....
What if ... I'd been wrong ....
What if ... things change and I can't buy again ....

It's not over until the fat lady sings.

An STR with a pile of cash in the bank isn't that much different from somebody with equity in their house from HPI ... until the music stops you don't know if you'll get a chair.

mewbie_2

PasturesNew wrote: »

until the music stops you don't know if you'll get a chair.

More likely to get a chair though with a nice fat wodge of spondoolics in the bank. Sorry about the vocab, my Mockney lessons start tomorrow.

PasturesNew

mewbie wrote: »

More likely to get a chair though with a nice fat wodge of spondoolics in the bank. Sorry about the vocab, my Mockney lessons start tomorrow.

A young couple, both earning, with good degrees, will have the ability to raise a mortgage much higher than my spondoolics. So anything I fancy could easily be snapped up by a lot of couples. My mortgageability would be low, my ability to maintain paid employment sufficient to pay off any mortgage in my remaining working life isn't great. So what I have is pretty much "my lot", which is something to take into consideration.

I will have to buy the best I can when the time comes, for cash - and that'll be it.

Unless anybody knows of some affluent nice young men that can look after me.

silvercar

My mortgageability would be low, my ability to maintain paid employment sufficient to pay off any mortgage in my remaining working life isn't great.

If you hadn't sold when you did, would you have been able to maintain your mortgage without any extra help like a lodger?

If not then STR has paid off whatever happens in the future.

ShelleyC_2

I love the musical chairs analogy - just hoping when the fat lady stops singing me and my wodge land in a lovely comfortable home :eek:

Lotus-eater

Pobby wrote: »

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.

We bought this house in 2002 and I was worried about the price rises then as well. I just knew we wanted the house and if the prices went down then I wasn't going to be too worried about it. However as we now know they just kept going up and up. I never seriously thought about STR and I would have done it in 2005 which would totally have been the wrong thing to do.