Can You Save £57 A Day, 7 days A Week???

boyse7en

Really2 wrote: »

From work, a small green telephone exchange.

From home, a bridal path.

I like the idea of a bridal path – confetti-strewn and with friends and family standing either side. If I had one of those next to my house, it would definitely be worth £10k more.

mitchaa

nearlynew wrote: »

Anyone who actually believes all this "my house is going up £57 a day" is a good thing is an idiot.

It's a f*cking tragedy.

Incidentally, there are many people who actually picture their bank manager daily putting the cash into their special little jar on a shelf in the bank.
And they are praying for the day when they can go in and get some of it.

If i search back through your old posts, will i find any along the lines of...

I have saved £3kpm this month?

It was good enough when houses were going down but it's now a fuc*ing tragedy as they are going up?

Pot, kettle, you know the rest;)

HAMISH_MCTAVISH

IveSeenTheLight wrote: »

To be fair Hamish, he should be looking at the narrow picture for his local area.

There's really no point in looking at a UK average when dealing with personal specific research.

Totally agree, but he claimed to be looking at the wider picture. Which is false, he's looking at the narrow picture.

We know what the wider picture is doing, house prices up by 8.5% and £12,500 since february on average, but if it makes them feel better I'll add a disclaimer.*



















*Results may vary. Local prices can and do fluctuate from national averages. Offer not available in Beartown, Devonsville, and demanufacture-on-sea.

HAMISH_MCTAVISH

mitchaa wrote: »

1.The £52k savings are completely irrelevant.
2. The £33k ''saving'' is purely mythical and assumes that you were going to buy at the precise point where the market peaked. (I very much doubt it) By that i mean you had mortgage agreed, sale completed and at the last minute you had a brainwave and you pulled out. The ''I was wanting to buy a house at that precise point'' is quite frankly a lot of BS as the majorities who dont own their homes are always wanting to buy so the timing and the belief that you ''saved'' from peak is a lot of rubbish. Why didn't you want to buy in the July or the August or the Sept or even the October? What was special about the month November:rolleyes:

Codswallop:D

3. You have to take into account your rental payments in the last 2yrs and offset these against this mythical £33k even if it just does mean the repayment part.

4. You were going to buy that average house were you? Not over average or under average? Just average?

To Save £52k in 2yrs is very good going, you are either...

Living at home with parents (Embarrassing really if you're over about 21, stand on own 2 feet springs to mind, not having your own space, like i said, nothing to feel 'proud' about:rolleyes:)

Living frugally, very frugally (Lifespans are relatively short, what is the point? 2yrs of ''misery'')

Or your household income is very high, which if it is the case you wouldn't be worrying about a mythical £33k

Excellent post.

skap7309

HAMISH_MCTAVISH wrote: »

No, what you're doing is looking at the narrower picture......

You are trying to disprove a national average price rise measured in close to real time through indices such as Nationwide, by focusing in on a small local area using an index that lags by 3 months plus such as LR.

Which just isn't going to work.

We know what the national average price is doing. Up 12.5K since february. Obviously, some areas will have smaller rises, such as your own with just 4K or so. But for every area like that, there will be another one with rises of 20K or so.

An anecdotal tale of someones local area is nice and all, but it doesn't change the national average house price facts.

WHAT??

Of course it matters what i have done! LR is considered the most accurate and bulls are repeatedly stating its your local area innit. So what i HAVE done is completely proved this thread is meaningless and you clearly do not like it.

The fact is Hamish, i have saved, over the course of the crash, over £85 GRAND towards the cost of the average UK house. Even if i had lived the very high life and !!!!ed my savings up the wall i would still be £33,000 better off.

Scenario 2 puts the minuscule rise of just over £4k meaning i am worse off (hardly worth mentioning) but as mentioned i am very comfortable with the fact this will be a thing of the past by Jan 2010.

Enjoy it Hamish while it lasts, i will repeat this thread with up to date figures come what January.

Really2

boyse7en wrote: »

I like the idea of a bridal path – confetti-strewn and with friends and family standing either side. If I had one of those next to my house, it would definitely be worth £10k more.

It's bit pot hole strewn (making lots of puddles my boy likes jumping in) but it gives us a good 5 miles of countryside walks when interlinked.

It's nice, getting a mountain bike to make them a bit more fun though.

mitchaa

skap7309 wrote: »

The fact is Hamish, i have saved, over the course of the crash, over £85 GRAND towards the cost of the average UK house. Even if i had lived the very high life and !!!!ed my savings up the wall i would still be £33,000 better off.

I still dont understand why the £52k comes into play?

You would have saved the £52k regardless if you were renting/mortgaging a property surely?

Or is it the parents thing?

skap7309

mitchaa wrote: »

1.The £52k savings are completely irrelevant.

OK, i have saved £33,000 off the average UK house. Still a huge figure.

2. The £33k ''saving'' is purely mythical and assumes that you were going to buy at the precise point where the market peaked. (I very much doubt it) By that i mean you had mortgage agreed, sale completed and at the last minute you had a brainwave and you pulled out. The ''I was wanting to buy a house at that precise point'' is quite frankly a lot of BS as the majorities who dont own their homes are always wanting to buy so the timing and the belief that you ''saved'' from peak is a lot of rubbish. Why didn't you want to buy in the July or the August or the Sept or even the October? What was special about the month November:rolleyes:

Mitchaa has obviously seen straight through me. Rumbled. I had 23rd November 2007 on the exact day i was going to walk into an EA and slap money on the counter to buy a house. It was around that time idecided. Give or take a month or so what does it matter????

Codswallop:D Tool.

3. You have to take into account your rental payments in the last 2yrs and offset these against this mythical £33k even if it just does mean the repayment part. Rent is currently very low, far lower than a 100% mortgage.

4. You were going to buy that average house were you? Not over average or under average? Just average? Actually, near enough. My estimated mortgage application will have around £175k written on it. Not too far off around here. Next question.

To Save £52k in 2yrs is very good going, you are either...

Living at home with parents (Embarrassing really if you're over about 21, stand on own 2 feet springs to mind, not having your own space, like i said, nothing to feel 'proud' about:rolleyes:)

Living frugally, very frugally (Lifespans are relatively short, what is the point? 2yrs of ''misery'') I am Mr Frugal himself. There is a house deposit to save up for.

Or your household income is very high, which if it is the case you wouldn't be worrying about a mythical £33k A full time job and a very successful business take care of this very well indeed.

Mitchaa, you clearly got out of bed the wrong side this morning. Go back and have a few hours kip, it looks like you need it. I hope the above answer your questions well enough.

mitchaa

Demanufacture wrote: »

Bit unfair this mitchaa, saving 52k in 2 years is no mean feat, and in this age of spend, spend, spend, even if you don't have the money, it should be congratulated. What needs to be taken into consideration is if that money he has saved would have been part of his mortgage, he would have had to earn an extra 150k !, as a third would have gone in tax at the point of source and a third would have gone in interest payments to the bank, and a third in actual repayment, so to summarize that 52k has saved him a hell of a lot of money.

And as far as the other issues, if I could save 52k in 2 years (156k in 6years) by living frugally, I would certainly do it and have no mortgage at all, rather than be a slave to house prices, remortgaging and debt for 25 years. 6 years isn't a long time to have no worries about mortgages for the rest of your life, and that's saying nothing of the vast quantities of money that would be saved.

So 52k isn't irrelevant.

I understand that saving £52k is very beneficial due to interest costs levied by the banks, but I dont understand why its included in his calculation as money being saved, because if he had bought in November 2007, he could have overpaid his mortgage by £52k which would have had the same effect

Im not a fan of this living frugally, not even for a year, never mind 2 or 6. We only live once, best enjoy it whilst we can but i suppose we all see life through different eyes.

mitchaa

skap7309 wrote: »

Mitchaa, you clearly got out of bed the wrong side this morning. Go back and have a few hours kip, it looks like you need it. I hope the above answer your questions well enough.

I'll do just that, but you should have bought back in february No?

If you think the market is going to fall again round new year time then you should have bought in Feb and sold in December;)

I'll leave it alone now, Nationwide increase tomorrow by any chance?