Rich People in Big Houses

ukcarper

mbga9pgf wrote: »

Thats great, up to the stage that when FTBs complain they are priced out of basic family homes, fetid people say "Work for it like we did(nt)"

In response to the OP, facing a highly inflationary environment, I would prefer a 100K deposit on a 1 Million pound home.

Facing a Deflationary environment (like I suspect we are) then I would prefer to rent and stow as much cash as possible.

You’re obviously another bitter person. Property has been a lot easier to buy in the past but that's just life and what can people who bought then do about it.

rictus123

Well id have one of the 1st 2 right now, im not on the property ladder and think itl be at least 3 years before i am. Thats buying with my gf who has plenty of £ for her share of the deposit plus she will have financal backing from her parents.

All down to me tbh

They are all as rich as each other but the last one would seem the richest.

mbga9pgf

ukcarper wrote: »

You’re obviously another bitter person. Property has been a lot easier to buy in the past but that's just life and what can people who bought then do about it.

Err, they could lower the asking price and not be a bunch of greedy C*nts?

amcluesent

Unfortunately £100K properties are easily purchased by chavs/wee neds and the like, quickly turning the estate into a slum with their bevvying ferals.

For that reason I'd go for 200k mortgage on a 300k property on the basis that the (not so) near neighbours are more likely people of quality.

Cleaver

Mr.Brown wrote: »

Own a 100k property outright?
Have a 100k mortgage on a 200k property?
A 200k mortgage on a 300k property?
Or a 300k mortgage on a 400k property?

Secret option number 5: just be happy, financially confortable and be able to afford repayments but still be able to enjoy life whilst being in a place I really liked.

Having said all that, having more than £250k worth of mortgage (which is what we were offered up to by our mortgage lender recently) would scare me witless. Just a personal thing though.

Cleaver

amcluesent wrote: »

Unfortunately £100K properties are easily purchased by chavs/wee neds and the like, quickly turning the estate into a slum.

If your posts were satirical and ironic Mr Cluesent I would really warm to you. However, I get the sense that you're actually quite a sad man who sees little joy in life. Maybe I'm wrong.

mbga9pgf

Have to agree, why would you want to live with the detrius of society, potentially ruining any future for your children as they either

turn into a chav
have their education ruined by chavs tormenting them for being bright at school?

chucky

Cleaver wrote: »

Secret option number 5: just be happy, financially confortable and be able to afford repayments but still be able to enjoy life whilst being in a place I really liked.

i'd go with your option 5 Cleaver but Schadenfreude describes a lot of people on this forum

jazabelle

amcluesent wrote: »

Unfortunately £100K properties are easily purchased by chavs/wee neds and the like, quickly turning the estate into a slum with their bevvying ferals.

For that reason I'd go for 200k mortgage on a 300k property on the basis that the (not so) near neighbours are more likely people of quality.

I didn't mean to thank you on that post. 'People of quality' - so snobby! Anyone can be an annoying neighbour, from any class or background.

nearlynew

It does depend on age, earnings, job security, attitude to risk etc.

Assuming all the houses in the example are identical and nice, but just in more or less expensive parts of the country, I'd prefer the 100k house mortgage free.

What you have to take into account is that if you own outright, instead of paying a high mortgage, you can build up significant savings.