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Debate House Prices


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A question for the regulars planning to buy houses

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Comments

  • Phirefly
    Phirefly Posts: 1,605 Forumite
    Cleaver wrote: »
    the world is going mad for paying for damaged jeans.

    I have to DESIGN distressed clothes. Thats madness right there.
    Cleaver wrote: »
    We looked at what a house would cost around our area that we could afford on a monthly basis, worked out what deposit was needed and then saved it. As soon as it was big enough we bought.

    Thats pretty much the long and short of it down on Tha Wharf. I'm working on the assumption that if house prices stagnate for the next 2-3 years it will take us 30 months to save a 20% deposit on what I consider to be the kind of house I don't ever need to leave purchased with a 3x joint income mortgage.

    Welcome to Phirefly's Thirty Month Plan.

    Complete with progress chart and catchprase... which is in actual fact regular admonishings when Mr Phirefly is pouring over shiny new mountain bikes and other such fripperies: "I think you'll find that is not commensurate with the Thirty Month Plan"
  • Cleaver wrote: »
    A question as I'm a bit bored with the threads on here this evening 'cos I was off work today and have read 'em all. A question, not for point scoring, but just because I'm nosey, inquisitive and a bit bored.

    For the regulars on the board who are saving a deposit and waiting for their time to pounce (Graham? Ad? Mgpfgna9? Brit? Mr Matey? Dunno if they are correct, apologies if not) do you have a trigger point as to when to buy? I.e., a certain price in your head? Or a percentage drop? Or when you perceive house prices have bottomed?

    I remember that when we bought our first house we didn't really think about any of the above, which was possibly a bit naive. We looked at what a house would cost around our area that we could afford on a monthly basis, worked out what deposit was needed and then saved it. As soon as it was big enough we bought.

    This was a period from 2002 to 2004, when houses just seemed to go upwards. It never occured to me, for one second, that that house would ever go down in value as that had never really happened in my adolescent or adult life. Then we sold it this year for a 10% loss. Don't regret it at all, but maybe should have done a bit more research and thought. We were no where near as good with money then.

    This isn't a point scoring thread, like Hamish's "what's your plan B girzzlies? I have a house, nyah...". But his thread had some interesting points, around what point would you buy? Can you already afford one but are gambling on another drop? As above, is it a percentage drop? A type of house for a certain price? A certain figure that your deposit reaches?

    Just interested really as Hollyoaks is on the TV and I'm being made to watch it. Even I'm getting to that age where looking at fit 18 year old girls in lingerie starts to feel pervy. Well, a bit pervy.

    Don't know if your only interested in regular posters and the pathetic little personal squabbles on here but I'm a regular reader as I like to keep an eye on the various news postings (just a shame I have to put up with all the bile that comes with them)

    I'm an FTB and I'm not ready to buy yet. It's all great pointing to February as the bottom of the market but the fact of the matter is that I wasn't ready to buy then. I'm saving up for a 25% deposit and at the moment I've got about £17k, I think it'll take about 1-2 years of saving to get to what I need. I've been keeping a keen eye on propertybee of the properties of the type and in the area of which I'd be interested in and as soon as I get my 25% deposit I'll seriously look into buying one. Although I'm saving hard and the sooner I get my 25% the better I won't be in a particular rush to buy one when I get my deposit as the bigger my deposit is the better and I'm quite happy to be patient and to wait for the right property at the right price

    I don't buy the idea of me 'missing the boat' as I think the recent housing peak is something that we won't see for a long time although I don't think there will be many further drops either.

    Basically, I'm waiting for the rite time to buy for me. Not when the average house price reaches a certain figure or anything like that, but when I have enough money saved and the right property comes on the market at the right price and my job security is good I'll make the offer
  • I do wonder how you get from talking about mewbies nuggets, to talking about my nuggets.

    You don't have any Graham :eek:
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • The OH property would be £165k (3 * £55k)
    Hahaha - D'oh! :D
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    I suppose I should try to defend myself. <board>zzzzzzzzz

    I fully admit to being an annoying little brat, and spoiling some threads with nonsense. I do find the same arguments a bit boring, and some of them go straight over my head anyway. Whether that is through lack of knowledge, or a lack of interest I am not sure. Believe it or not, I do try to rein myself in - it may not seem like it sometimes. You should see how much stuff I delete or don't bother with.

    I am not convinced that arguing in intense detail over whether Graham has a cat, or can prove what he said fifteen posts ago, is particularly beneficial to the board, but each to their own.

    I think each of the postings I made on this thread could be taken as anecdotal, if I had bothered to post them under different IDs. They are half jokey, half serious angles on purchasing property. Admittedly I got carried away, but I was having fun.

    Having fun, and making a point. Two points actually. One about the obvious topic, and the other about aliases and anecdotal.

    But if you really want me to go back to attacking Chucky over whether interest rates are going to reach 3.75% in two years time then I will be happy to oblige.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    From a single person's perspective, what's affordable is different to a couple/families, because we are less "supported" when it goes t1ts up. Whereas a couple could sit and agree things would be mega tight on one salary, perhaps the 2nd one could get some part-time work while looking, or maybe the first take on more work or get a 2nd job ... if you're single you really HAVE to only get a replacement job at the same money you were on. MUCH harder to do. It's harder to see the wood for the trees in that situation. AND, you're sat home alone to deal with it if the worst comes to the worst, not sat with somebody else, sharing the frugality of a few months while you work together to do a bit better.
  • Not a personal attack and maybe I just don't get his comedy (maybe it's and age thing) but his comedy posts far outweigh his topical discussion posts.

    I find ones thank count is directly proportional to the amount of cr @p one posts. ;)
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Afriend wrote: »
    I find ones thank count is directly proportional to the amount of cr @p one posts. ;)

    Amen to that.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mewbie wrote: »
    But if you really want me to go back to attacking Chucky over whether interest rates are going to reach 3.75% in two years time then I will be happy to oblige.

    i'm good with that but at least get Graham a good economics book because he doesn't have a clue :beer:
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I drive past some flats on the way to work. That's about as close as I get to a flat in my daily life.

    I pretty much assumed that your employment was just posting on here Graham. Is that not the case?
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