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Debate House Prices
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How much will house prices rise?
Comments
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I predict houses will rise by this time next year.
I'd say average property price will be £170,000 by November 2011 and mortgages will be more available than now.
So what was the average house price back in nov 2010? and what is it currently? and are there more mortgages now than then?0 -
You seem to be in the know Sibley, i mean Mr.Ree, so on that basis can you provide figures for the above?
You cant say that, what with Mr Ree being sooooo clever and rich, wot wiv 'im not being a renter and all that. He owns loads of property and lives in a £1m+ place with an aston and a 'yatch' on the drive.
(although secretly between you and me i think his yacht might be a dinghy, wot wiv the Thai floods 'n all that - just dont tell him I said so or he will chuck his toys about again)0 -
In a years time I predict that House prices will be much the same as they are now. And if the mortgage interest for the home you want is the same as the rent renters are no worse off.:beer:
However a 30 year olds renter will now be 31. So completion of a 25 year mortgage will be aged 56 instead of 55.:(
That another years free housing down the drain.:mad:
It's virtually always best to buy, and to buy as young as you can and with the shortest term mortgage you can afford.0 -
Well im looking to buy in a year. Then buy again between 4 and 5 years.
So hope for steadyish then a massive rise in 8 years
Work in progress...Update coming July 2012.
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It's virtually always best to buy, and to buy as young as you can and with the shortest term mortgage you can afford.
True ......
The best thing I ever did was to buy young, leaving Mummies apron strings at 20 helped .........
The next best thing was to move every 2 years .... up .... up ..... up ....
The final master stroke was to take out a Flexible Mortgage (now called an Offset) .... this enabled me to put every single penny into my Mortgage Account (and use it as a savings account) - resulting in paying off the debt within 7 years (saving 18 years of interest payments).Bringing Happiness where there is Gloom!0 -
True ......
The best thing I ever did was to buy young, leaving Mummies apron strings at 20 helped .........
The next best thing was to move every 2 years .... up .... up ..... up ....
The final master stroke was to take out a Flexible Mortgage (now called an Offset) .... this enabled me to put every single penny into my Mortgage Account (and use it as a savings account) - resulting in paying off the debt within 7 years (saving 18 years of interest payments).
Do you live in a tower block ?
Master stroke:)0 -
True ......
The best thing I ever did was to buy young, leaving Mummies apron strings at 20 helped .........
The next best thing was to move every 2 years .... up .... up ..... up ....
The final master stroke was to take out a Flexible Mortgage (now called an Offset) .... this enabled me to put every single penny into my Mortgage Account (and use it as a savings account) - resulting in paying off the debt within 7 years (saving 18 years of interest payments).
Almost identical to me, apart from I bought at 22. I liked the offset mortgage and how your savings made the term shorter. Was blind luck that it was in fact a tracker, which meant nothing to me at the time tbh! It was this or that Virgin one account. This was easier as I bank with Barclays.
Possibly 2 of the best moves I have ever made
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Almost identical to me, apart from I bought at 22. I liked the offset mortgage and how your savings made the term shorter. Was blind luck that it was in fact a tracker, which meant nothing to me at the time tbh! It was this or that Virgin one account. This was easier as I bank with Barclays.
Possibly 2 of the best moves I have ever made
I must admit that although I stress it is best to buy as young as possible it was not financially viable for me until I was 28.
Offset mortgages are great as they combat mortgage iterest rates exactly. But__ you don't get the best interest rates on these products. Sometimes you'd be better off having a normal mortgage and seperate savings (you need to be disciplined). Or simply make overpayments every so often.
I will be 40 with no mortgage. Assuming I live to average age of 77 I now have 37 years of mortgage/rent free living. I can save/invest or spend the former mortgage payment money as I see fit.:T
Had it been financially viable for me to do the same from the age of 20 I would be looking at 45 years of rent free.:rotfl:
Lets look at that financially. The place I'm in would cost around £850 per month.
850 x 45 x 12 = 459000. a tidy sum:beer:0
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