Moving to a cheap area to save cash

Iwanttobeatree

iB1 wrote: »

Looks like it's a repo and someone has placed an offer of 25k on it. No pictures of the inside so it may be a shell.

Also is there a rear garden? If so, it's very small.

LandyAndy wrote: »

Put the link in for you;).

That one caught my eye as well.

You'd have to go there to find the reason.

that place is awesome to me anyway, even if its a shell, god knows what i'd have to pay for that here, i couldn't get that here.

Jesswithwings wrote: »

I'm another Devonian, and I am never leaving here. We've recently been round the country visiting family, and it reinfoced to us how much we love living here. I'm sure there are beautiful parts of the country which we haven't seen , but I will put up with my stonking great mortgage in return for living so close to the sea, and the moors and the city (but not so close that we get city hassle)

yeah its a beautiful place and maybe ive not been enoying it so much recently due to worry about stuff like this. for me personally i would swap to start off my property empire though, guess im just slightly evil deep down hehe

having the mrs though, got to take her into consideration

Errata

Nothing wrong with this and it's only the price of a new car

http://www.rightmove.co.uk/property-for-sale/property-20770440.html
Except..........the area is :eek: the neighbours may well be :eek: :eek: and you'd have to park your 50 yds away in the main street and hope it's still there in the morning.

Iwanttobeatree

MummyMummy wrote: »

i don't have hands on if you like experience of property, just what i have read from others but it seems auctions can be good places to pick up a bargain... would something like that not be possible for you? maybe you could snap up a bargain in a decent area?

it's hard when you want to save but at the same time you also need to live haha good luck with whatever you decide! x

i'd love to snap up a place at auction, i got told it was a cash only thing and 20k doesn't get me anything here.

might do some flyer dropping to some run down places around here, thanks for the luck

Iwanttobeatree

Errata wrote: »

Nothing wrong with this and it's only the price of a new car
Except..........the area is :eek: the neighbours may well be :eek: :eek: and you'd have to park your 50 yds away in the main street and hope it's still there in the morning.

yup another one, sick thats actually not bad either but yeah neighbours will probably be hell and car might aswell forget about it remaining in any condition/remaining at all

carefullycautious

Believe me

'jealousy is the green eyed monster'

If you move into a depressed economically deprived area, purchased outright, and then proceeded to do up your home and put a new car outside you are inviting trouble.

Actually one of a number of people I know purchased their council house on a deprived estate. They has never wished to move on as they enjoy the benefit of being mortgage free and having substantial savings. However, they make it quite clear that they are unable to make any outwardly show of having any money as they would become a target for burglary. So the outside of their home remains to this day unchanged with the same front door etc. Also they have to keep themselves to themselves for fear of being found out. This is the reality of what you propose in todays society.

Be careful.

But on a brighter note I hear that durham and Newcastle upon tyne are some of the friendliest places to live/work

Badger_Lady

SailorSam wrote: »

Going back a few years you use to read stories about some the really Welsh parts of Wales were they didn't like the English in their community and new comers had the homes set on fire.
Don't know if that still happens.

In rural North West it does, yeah... even South Walians like me have suffered abuse trying to move there. If English is your first language, you're best off sticking to the M4 or the English border

Suarez

Iwanttobeatree wrote: »

@Pursey

i cant post links but

rightmove co uk / property-for-sale/property-32252110.html

^ i cant believe that house btw, 25k whats the deal with that ? the street looks alright to me, not too bad is it? i acutally like that house.

The word Liverpool knocks 100k off the price...

bonzor

The trouble with the snobbism that is rampant throughout this thread is that very few of you actually live in cheap areas but are quick to label those who do. There are some very cheap places in Northumberland where you wont have your car stolen or your house burgled by drug crazed addicts. The reason they are cheap is because industry died out or moved away and they have poor transport links. The same is true of other areas where transport is poor and job opportunities are few. That doesn't mean crime is rampant. You can check that out yourself on the sites that list reported crime. The valleys are cheap, areas of Lincolnshire are cheap as are lots of areas where industry upped and left. Don't take a h'porth of notice of the doomsayers.

carefullycautious

bonzor wrote: »

The trouble with the snobbism that is rampant throughout this thread is that very few of you actually live in cheap areas but are quick to label those who do. There are some very cheap places in Northumberland where you wont have your car stolen or your house burgled by drug crazed addicts. The reason they are cheap is because industry died out or moved away and they have poor transport links. The same is true of other areas where transport is poor and job opportunities are few. That doesn't mean crime is rampant. You can check that out yourself on the sites that list reported crime. The valleys are cheap, areas of Lincolnshire are cheap as are lots of areas where industry upped and left. Don't take a h'porth of notice of the doomsayers.

If this was aimed at my post im not from the north but the midlands. Problems can occur no matter where you are from so I wasnt being place specific and apologise if this is what it came accross as.

phoebe1989seb

I certainly wouldn't advise moving to a cheaper area just to be mortgage-free unless it was to an area you had investigated thoroughly first. Four years ago we sold our house in Hampshire on which we had a mortgage and bought a renovation project house in Essex for just under £300,000 and became mortgage-free with enough cash left over to do the work.

We were very excited to be able to do this and had plans to make it our forever home as it was full of character and when restored to its former glory would be a wonderful home. However, we knew nothing about the area and to cut a long story short, it turned out to be a total dump.

We ploughed on with the work, but absolutely hated living there as well as missing our friends and family. Having spent around £35-40k on renovations we could take living there no longer and recently sold, making a stonking loss.

We have now relocated to Wiltshire, to another renovation project and fortunately (thanks to still having money in the bank) have been able to remain mortgage-free, despite the fact that property is so much more expensive here. I would never, ever advise anyone to do what we did though......and that was with a much larger budget than you are talking about!

In your position I would rather do as other have suggested and either bite the bullet and get lodgers in to help pay down the mortgage in a place you know and love or else rent whilst saving for a larger deposit......good luck!