How much is an FTB property where you live?

chucky

Emy1501 wrote: »

But you don't really need to buy as a single person unless you see property as an investment or you know you are never going to meet anyone etc. People do not buy 1 bed flats with any real plan to stay in them for any length of time. They buy them to make money so I'm not sure they are really FTB properties in the real sense

why not? i know lots of people who have bought 1-bed flats.

if buying is cheaper than rent and you want to own your own home and not be moved by the landlord every year. why shouldn't a single person buy for non-investment reasons?

Emy1501 wrote: »

I wonder what percentage of FTB's buy 1 bed flats.

in London i'd say most FTB's would buy 1 bed flats.

moggylover

abaxas wrote: »

Nice looking is irrelevent. Having your car still there in the morning, is.

Actually, as a whole we do not get a great deal of trouble with that sort of thing throughout the County:D. It is all very rural and a lot less crime and disorder in general.

Not much work though (and much of what there is is seasonal) and definitely poorly paid area.

Emy1501

chucky wrote: »

why not? i know lots of people who have bought 1-bed flats.

if buying is cheaper than rent and you want to own your own home and not be moved by the landlord every year. why shouldn't a single person buy for non-investment reasons?


in London i'd say most FTB's would buy 1 bed flats.

Really? Are there any stats on that? I'm in Greater London/Surrey borders so do not know about central London. I don't know anyone who has bought a 1 bed flat in the last 5 years over than BTL investors. All the FTB's I know have bought 2 bed flats and above.

Tobe honest though I do not know anyone who could afford to buy on their own. I also do not know many areas around where I live where a mortgage is cheaper than renting.

before_hollywood

i can find places closer to the city than me for circa £30k

have you heard of moston and crumpsall in manchester? yeah, theres a reason

PasturesNew

HAMISH_MCTAVISH wrote: »

Probably worth pointing out that includes part timers.

The full time median wage for Cornwall is £21,000. And a full time job would normally be a pre-requisite for a mortgage.

Which would put those 70K to 80K 1 and 2 bed flats just within range of a single person at reasonable lending multiples, and comfortably within range of a couple.

Median wage for a full-time female is £16,734 in the TR7 area

Sammz

Emy1501 wrote: »

But would you call yourself ie single the average sort of FTB? Like you say if you met someone you could rent it out and sell. I suspect at the back of your mind would have been HPI. I owned a 1 bed flat before I met someone but the reality was it was an investment property which when i sold was only bought by an investor even though it was not purpose built etc.

The point I'm making is the average FTB is not single.

Might not be average but I think it's a lot more than you think. I would say quite a high percentage of people I know bought 1 bedroom places when single. Maybe we're not the norm though.

The only thing I was investing in with this property was security! I had been renting for years and lived with 2 boyfriends far too quickly. It was so much hassle that I made a rash decision to buy. Yeah, the price has risen but so has the houses that I'd love to live in.

wageslave

PasturesNew wrote: »

Median wage for a full-time female is £16,734 in the TR7 area

And I thought I was poorly paid:eek:

DaddyBear

Bath
1- bed flat 100k
2- bed flat 150k
3- bed terrace 200k

none of which I would put my dog in.

As for the village we rent in. The 2-bed Starter next door is on for 400k.
Ludicrous, but We rent a 3-bed for £900 a month. Who says renting is a mugs game?

Kirri

Emy1501 wrote: »

Really? Are there any stats on that? I'm in Greater London/Surrey borders so do not know about central London. I don't know anyone who has bought a 1 bed flat in the last 5 years over than BTL investors. All the FTB's I know have bought 2 bed flats and above.

Tobe honest though I do not know anyone who could afford to buy on their own. I also do not know many areas around where I live where a mortgage is cheaper than renting.

Is your social circle all well paid professionals though? Even a couple on 'average/normal' wage in these types of areas would struggle to raise funds to buy more than a 1 bed flat round here..

I must be reasonably close to you location wise and interest only mortgages were definitely cheaper than renting a few years ago when I looked.

DaddyBear

Cleaver wrote: »

Hamish isn't a troll. He has strong opinions and posts lots and lots of articles. I suspect you call him a troll because you don't agree with a lot of what he says and this is the easiest way for you to engage with him.

I agree. Clearly boomerangs is mixing up his trolls and his t0sserz.