The price of house

hethmar

I think sam, its just a come on price - as Ive pointed out, that property was nearly double that price in 2005 and I should think it would probably end up nearer £40k after people start competing on it.

Have you thought about asking your council about shared ownership?

Sam-Barr

hethmar wrote: »

I think sam, its just a come on price - as Ive pointed out, that property was nearly double that price in 2005 and I should think it would probably end up nearer £40k after people start competing on it.

Have you thought about asking your council about shared ownership?

What is shared ownership if you don't mind me asking?

dopester

hethmar wrote: »

I think sam, its just a come on price - as Ive pointed out, that property was nearly double that price in 2005 and I should think it would probably end up nearer £40k after people start competing on it.

A 3 bed in the same crescent, first found by PB on 5th March, is listed for offers in excess of £37,500. Not sold yet.

http://www.rightmove.co.uk/property-for-sale/property-28824032.html

Another 3 bed with an asking price a touch under £40K (Fixed price).
http://www.globrix.com/property-details/22829129-dalriada_crescent-motherwell-lanarkshire-ml1-3_bed-flat

I think they are hideously expensive for what they are against the background of changes playing out in the economy proper.

dopester

Expanding the search out a 1/4 mile, brings this in the same crescent... 3 bed at offers in excess of £24,000.

http://www.rightmove.co.uk/property-for-sale/property-24965311.html

I'm pretty sure ISTL could buy one of these places with some nifty juggling on his credit cards... or just one credit card in 18 months. For the investment glory.

PasturesNew

Wouldn't it be brilliant if all places were those prices ... but you could only ever buy/own/live in one at a time... keep the vultures at bay.

joolley

Doesn't look like typical ex-council stock for that area IMHO. Will ask OH who works for a nearby council. The fact is that there are areas in South Lanarkshire/Fife/Dundee and even parts of Glasgow/Clydebank/Greenock etc that £20-30K can buy you a flat. Not terribly unusual.

Sam-Barr

What are the disadvantages of renting a council house, for basically.. forever?
I do not intend on having kids so my one bedroom house @ £200/month will do me fine.
All my repairs and stuff are done for me too.

Mortgages to me are just so you can own a home to pass onto your kids.
I do not see the appeal in a mortgage in my situation?
Can anyone advise on the reasons why people have mortgages and want to own their homes?

jonewer

Sam, not all of us can get away with only paying £200 rent a month.

Most people cant get a council house at all, let alone one they would be happy to spend the rest of their lives in, so if you're fortunate enough to have a council house that you're happy with then bully for you, buy the taxpayer a pint every now and again.