Has it worked out for you

pbouk · 12 March 2011 at 9:07PM

SUFFER_THE_LITTLE_GHOULS wrote: »

You're living in fantasy world if you really believe you enough money to buy outright, let alone have a girlfriend. You're in a stinking lowly dank bedsit or still suckling in your mothers house. Get a life.

your comments are getting more and more pathetic, it just shows what state your life is in right now. i live in a nice house(rented) in a nice area. i work and so does my gf.

Cleaver · 12 March 2011 at 9:09PM

SUFFER_THE_LITTLE_GHOULS wrote: »

You're living in fantasy world if...

I'm not sure you're the best person to be accusing others of living in a 'fantasy world'.

pbouk · 12 March 2011 at 9:11PM

Cleaver wrote: »

No, you've been able to buy a house because you saved loads and loads of money. House prices are about the same now as they were five years ago. Okay, let's look in more detail.

Five years ago the house you wanted was £100,000. You say that you have managed to buy outright, so presumably you've been able to save £20,000 a year for the past five years. House prices are roughly the same now as they were five years ago, give or take +/-10% depending on where you are in the country.

So you had two choices. You could not buy five years ago and save £20,000 a year, thus being able to buy now. Which is what you've done.

Or, you could have bought five years ago and paid £20,000 towards your mortgage each year over the past five years. Let's say you took a 100% mortgage on £100,000 in 2005 and paid £20,000 off the capital each year. You would have paid off around £85,000 of that mortgage and would now owe just £15,000. But presumably you've had to live somewhere in the meantime, and thus paid rent. Or you've lived at home and saving £15,000 has been worth it not to own your own home for half a decade.

I'm not knocking what you've done, it's great that you've bought a house outright. I'm just saying that you've not saved hundreds of thousands by doing it

God I'm bored tonight. Is Generali or Dopester around for a good old debate about inflationary monetary cycles in 19th century Hungary? Or how to stockpile rice?

i could have bought 5 yrs ago but i knew prices were gonna fall so i decided just to wait and do it my way.

The_White_Horse · 12 March 2011 at 9:13PM

so you were basically saving roughly 4k a month? b8llocks.

Cleaver · 12 March 2011 at 9:17PM

pbouk wrote: »

i could have bought 5 yrs ago but i knew prices were gonna fall so i decided just to wait and do it my way.

That's cool. And as I say, good for you. Sounds like you're in a cracking position.

I was just making the point that if you'd bought five years ago you'd be in roughly the same financial position that you're in today, i.e. you'd pretty much own your own house outright.

Cleaver · 12 March 2011 at 9:25PM

pbouk wrote: »

sounds like envy on your part to me. i have saved it up by living FRUGALLY,not frittering my money on excessive living. i will admit tho that i dont have any children which would have made it difficult to save quickly.

I also find it slightly strange that someone with your level of punctuation, spelling and grammar is in a good enough job that they can save hundreds of thousands of pounds in such a short time-frame. But maybe that's a bit judgemental of me.

pbouk · 12 March 2011 at 9:29PM

Cleaver wrote: »

I also find it slightly strange that someone with your level of punctuation, spelling and grammar is in a good enough job that they can save hundreds of thousands of pounds in such a short time-frame. But maybe that's a bit judgemental of me.

its just speeeeed tyyypppiiing , miss takes happennn.... geht a grrip

Cleaver · 12 March 2011 at 9:35PM

pbouk wrote: »

its just speeeeed tyyypppiiing , miss takes happennn.... geht a grrip

Just to satisfy my curiousity, what do you do for a living that has allowed you to save so much whilst still renting?

Pobby · 12 March 2011 at 11:23PM

Sure is a lot of savings. You would need a fantastic job to do that. As Cleaver said, what do you do for a living that means you can save whilst renting. I am in a pretty average city where a one room flat is £400 a month. Also it is a place where wages are low.