Nice mortgage calculator

PasturesNew

ad9898 wrote: »

And you need 38k deposit, and your mortgage payments over 25 years would be around a 1k per month, thats quite a lot of money for a 30k wage, and IR's only going one way............ definitely risky.

It's even more when you lose that £30k job and all you can get is £18k to replace it.

PasturesNew

Graham_Devon wrote: »

Yer, so your stating that I should change my life, to earn over the 40% tax bracket for high earners, to buy a "starter home"?

Do you not agree thats a little screwed up?

Where are you in Devon then?

The market in Exeter (say) starts at £75k.
http://www.rightmove.co.uk/property-for-sale/property-25259999.html

Starts means "It's a proper 1-bed flat"

The five cheapest 1-bed flats are: £75k, £80k, £85k, £90k, £90k.

So that's the starter home market.

Houses start at £100k with a 2-bed terrace in St Thomas. The five cheapest houses are: £100k (2-bed house) £110k (2-bed semi), £115k (2-bed terraced), £115k (2-bed eot), £115k (1-bed eot house).

So what is a starter home?

Graham_Devon

Starter home = 1-2 bed house. 2 preferably, don't really see the point in 1 beds, apart from for commuter places. I would never ever consider flats personally. But I don't live there

And those are rancid places!

Mine was 135k at the time in 2005.

Yakubu22

PasturesNew wrote: »

Where are you in Devon then?

The market in Exeter (say) starts at £75k.
http://www.rightmove.co.uk/property-for-sale/property-25259999.html

Starts means "It's a proper 1-bed flat"

The five cheapest 1-bed flats are: £75k, £80k, £85k, £90k, £90k.

So that's the starter home market.

So what is a starter home?

Thats not a starter home, that's student digs.

PasturesNew

Graham_Devon wrote: »

Starter home = 1-2 bed house. I would never ever consider flats personally. But I don't live there

And those are rancid places!

Mine was 135k at the time in 2005.

Well, those are separate issues. We all prefer something bigger/better/located somewhere a bit posher, but those are choices. They are want over need.

The thing is, the cheapest properties are starter homes ... somebody has to choose them and like living there.

Starter homes exist, it's just many people want to have something a bit more t han they can afford and then declare houses cost too much ... Well, all houses cost too much, yes, but whatever the price of houses people will always say that the house they WANT is too expensive.

Not sure if I wrote that coherently... might take two readings to get my meaning.

If it were me, re those Exeter ones, I'd probably look at 2 of t hem ... before opening up Rightmove again and looking through the next 2-3 pages for something better. But, they exist and are for sale at starter home prices

Although they should be 1/3rd off that to be fair.

Yakubu22

My parents bought their first home on below average wages it was a 2 bed semi in a nice area. My partner's parents and most of my friend's parents have similar stories (i.e. 1st home = 2 bed semi NOT 1 bed shoebox).
I feel the same properties are harder to attain in todays market

PasturesNew

Yakubu22 wrote: »

Thats not a starter home, that's student digs.

See, you're all in denial and being picky.

Yakubu22

PasturesNew wrote: »

See, you're all in denial and being picky.

I was only jesting :beer:

Graham_Devon

PasturesNew wrote: »

Well, those are separate issues. We all prefer something bigger/better/located somewhere a bit posher, but those are choices. They are want over need.

The thing is, the cheapest properties are starter homes ... somebody has to choose them and like living there.

Starter homes exist, it's just many people want to have something a bit more t han they can afford and then declare houses cost too much ... Well, all houses cost too much, yes, but whatever the price of houses people will always say that the house they WANT is too expensive.

Not sure if I wrote that coherently... might take two readings to get my meaning.

If it were me, re those Exeter ones, I'd probably look at 2 of t hem ... before opening up Rightmove again and looking through the next 2-3 pages for something better. But, they exist and are for sale at starter home prices

Although they should be 1/3rd off that to be fair.

Honestly, if you knew the area, you wouldn't be looking at 2 of them. There is a reason they start at that price, and it's what's close to them.

Most of those are taken up by students and it's very handy for commuters who work in the city, which is their main use.

Don't believe that they are starter homes to be honest, and I don't personally believe you can call them that. Even the council estate behind them have bigger flats.

I'd call this more of a starter home. I.e. allows 2 people to live together, allows for one child, allows for parking. I.e. all the things you would need to start out. I wouldn't class it as "nice" at all. I don't think that's being picky, but I do believe it's being reasonable. As to the flats thing, it's the service charges which I think would put you off, and those living in there who do not have to pay it, so all falls on you.

http://www.rightmove.co.uk/property-for-sale/property-12243507.html?locationIdentifier=REGION%5E494&sortByPriceDescending=false&minBedrooms=2&displayPropertyType=houses&radius=0.25&oldDisplayPropertyType=houses&pageNumber=3&premiumA=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E494%26sortByPriceDescending%3Dfalse%26minBedrooms%3D2%26displayPropertyType%3Dhouses%26radius%3D0.25%26oldDisplayPropertyType%3Dhouses%26index%3D20

bluey890

Graham_Devon wrote: »

Honestly, if you knew the area, you wouldn't be looking at 2 of them. There is a reason they start at that price, and it's what's close to them.

Most of those are taken up by students and it's very handy for commuters who work in the city, which is their main use.

Don't believe that they are starter homes to be honest, and I don't personally believe you can call them that. Even the council estate behind them have bigger flats.

I'd call this more of a starter home. I.e. allows 2 people to live together, allows for one child, allows for parking. I.e. all the things you would need to start out. I wouldn't class it as "nice" at all. I don't think that's being picky, but I do believe it's being reasonable. As to the flats thing, it's the service charges which I think would put you off, and those living in there who do not have to pay it, so all falls on you.

http://www.rightmove.co.uk/property-for-sale/property-12243507.html?locationIdentifier=REGION%5E494&sortByPriceDescending=false&minBedrooms=2&displayPropertyType=houses&radius=0.25&oldDisplayPropertyType=houses&pageNumber=3&premiumA=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E494%26sortByPriceDescending%3Dfalse%26minBedrooms%3D2%26displayPropertyType%3Dhouses%26radius%3D0.25%26oldDisplayPropertyType%3Dhouses%26index%3D20

They both look like slums to me.

Do people actually live in such shanty areas?

It's not even fit for my servant.