House Price Psychics - where are they now?

featherstick

Bufger wrote: »

Im in exactly the same position as you and i dont regret it at all.

In Christmas 2008 me and my partner decided we like living together, we had recently got engaged and wanted to set our lives up. We'd also both just got new good and steady jobs with career prospects so rather than going out 3 nights a week like all the other graduates i knew we decided to save for a deposit.

Our aim was to buy before the stamp duty came back as we were looking within the 125 - 175k bracket. We bought at the end of November 09 for 142k (saved that 1.4k of duty!).

Ive been checking the value of my house and others like it in the area and its gone up by an estimated 3k from the asking price (which we payed 7k under anyway). I dont see any sign of doom and gloom in my scenario as our mortgage is very easily manageable. If my partner was to fall pregnant and be off work i can still afford the whole mortgage + bills as i outright own everything else i have.

We're planning on staying here for a large number of years. Its way bigger than the 2 of us need but it would be perfect if we had 2 children, we wouldnt have any need to move unless we had more than that as there is even an excellent primary and secondary school within 1 mile.

I'm 25 by the way. My mates take the pi$$ that im an old man and yes, some of their cars are lovely and the fancy apartments they rent are swanky but im happy knowing ive set myself up for life and ive given a stable home to any future children i may have. (by the way im not an old fart, i still go out often enough! :rotfl:)

Nov 2009? That was 3 months ago. I'm not sure anyone can reliably say how much a house has changed in value over such a short period.

Bufger

featherstick wrote: »

Nov 2009? That was 3 months ago. I'm not sure anyone can reliably say how much a house has changed in value over such a short period.

Not saying its reliable, ive just been studying asking and sold prices of similar houses in the area. I know who built it in 1935 (thanks to my nan) and i know which other streets in the same postcode were built by the same builder using the same layout, ive seen several of these up for sale/sold recently and there is most definately a rising trend in prices with the average being 5k above the original asking price for the property i purchased. I went down to an estimate of 3k to make it more accurate as i cant believe its up by 5 already.

So its either all of these houses have some drastic modifications my property doesnt have or the original asking price on my property was undervalued anyway.