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Debate House Prices
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Location, Location, Location 15/10/09
silvercar
Posts: 49,955 Ambassador
In summary,
Lottery winners can't decide how much money to spend and what to spend it on. End up spending £700k on a contemporary detached house and have given it the "wow factor" over the last 2 years.
Young couple spend £425k for their first house. Having looked for a development project ended up buying something already done up and enjoying it.
So the big question, if you win £1.8m on the lottery, how much would you spend on a house?
Lottery winners can't decide how much money to spend and what to spend it on. End up spending £700k on a contemporary detached house and have given it the "wow factor" over the last 2 years.
Young couple spend £425k for their first house. Having looked for a development project ended up buying something already done up and enjoying it.
So the big question, if you win £1.8m on the lottery, how much would you spend on a house?
I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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Maybe it would depend on where you live, as the houses in some parts of the country are relatively cheaper than others.0
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I'd probably spend the £700k on a house, but would give the Porsche and the beauty salon a miss.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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All of it, and a mortgage. But it would be my income too.
And I'd be very, very happy, hardworking and provide local employment.
(BTW started to watch then thought it was possibly tedious enough to cause my retinas to self destruct...so didn't)0 -
I started to watch it but realised i had seen most of it a few years ago.
Its difficult to answer. My dream house 4 yrs ago cost 1.5 million its now @ 4.5 now thats some investment.
Interest on 1.8 million is about 90k per year and the mortgage on 1 million is 60k per year.
I'd go for a mortgage on a million and still have 30k left over thatll top my wages up. LOL0 -
I'd spend £1.2m-£1.5m on the house, after all you live in it for 45-50 weeks of the year.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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I'd spend £500k but I'd build it. So it would be perfect and we'd have lots of free equity
And maybe a flat in London too. So that's most of it gone.
Mmm. Maybe I won't have a swimming pool. But I'll keep the pool guy on, just in case
Everything that is supposed to be in heaven is already here on earth.
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Round my area there are perfectly acceptable houses for £250K.
I don't buy lottery tickets though.Happy chappy0 -
tomstickland wrote: »Round my area there are perfectly acceptable houses for £250K.
I don't buy lottery tickets though.
Thats the thing. If I'd won the lottery, I'd rather spend the money on living in a house that was better than "perfectly acceptable" than have 30 handbags, 100 pairs of shoes, a porsche and a 4x4....
....second thoughts, I want the house and the porsche.....and some jewellery.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
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I'd want to spend about £200k of it, I'd probably stretch to £400k on a fabulous house in a stunning location.
So the big question, if you win £1.8m on the lottery, how much would you spend on a house?
The rest would be to live off for the rest of my days, knowing all the bills were paid and I could afford to put bread/beans on the table.0
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