What is wrong with wanting cheaper homes

Graham_Devon

RenovationMan wrote: »

Happy to have people not agree with me, I just despair when they pull out the fantasy 3 houses for £100k in Manchester nonsense.

It's hardly fantasy.

House 1, 30k
http://www.rightmove.co.uk/property-for-sale/property-21636102.html

House 2, 30k
http://www.rightmove.co.uk/property-for-sale/property-36531344.html

House 3, 35k
http://www.rightmove.co.uk/property-for-sale/property-32712160.html

All for 100k with 5k change.

Jimmy_31

wotsthat wrote: »

They are just example figures and still work round your way just with smaller numbers.

If you are going to be unemployed it might not be sensible to have a load of savings either.

I know about the savings bit as im cis self employed in the construction industry and have been getting screwed by the benefit system for the past few years.

ukcarper

Graham_Devon wrote: »

It's hardly fantasy.

House 1, 30k
http://www.rightmove.co.uk/property-for-sale/property-21636102.html

House 2, 30k
http://www.rightmove.co.uk/property-for-sale/property-36531344.html

House 3, 35k
http://www.rightmove.co.uk/property-for-sale/property-32712160.html

All for 100k with 5k change.

So is property to expensive then as somebody on minimum wage could buy with a 10% deposit and 2.25x salary mortgage.

RenovationMan

Graham_Devon wrote: »

It's hardly fantasy.

House 1, 30k
http://www.rightmove.co.uk/property-for-sale/property-21636102.html

House 2, 30k
http://www.rightmove.co.uk/property-for-sale/property-36531344.html

House 3, 35k
http://www.rightmove.co.uk/property-for-sale/property-32712160.html

All for 100k with 5k change.

Well none of those is manchester, two are nearer Preston than Manchester. I suggest you look at a map next time Graham.

Jimmy_31

RenovationMan wrote: »

Well none of those is manchester, one is nearer Preston than Manchester.

There are plenty of houses like those all over the north west, go to the 40/50k price range and that will get you a 3 bed semi in a lot of places............and a lot more soon.

nembot

I did Renno, it's a tricky one as both sides have their own agenda including me

I bought cheap, and want to buy another place on the cheap - not happening though

To be fair, I'd be happy with one decent place, so guess I'll have to wait (or win the lottery).

Jimmy_31

Graham_Devon wrote: »

It's hardly fantasy.

House 1, 30k
http://www.rightmove.co.uk/property-for-sale/property-21636102.html

House 2, 30k
http://www.rightmove.co.uk/property-for-sale/property-36531344.html

House 3, 35k
http://www.rightmove.co.uk/property-for-sale/property-32712160.html

All for 100k with 5k change.

I would advise anybody who is thinking of buying these houses to not bother going to the auction.

When they dont sell you will get another 5k off them no problem, plus you will save on the petrol:money:

Graham_Devon

RenovationMan wrote: »

Well none of those is manchester, two are nearer Preston than Manchester. I suggest you look at a map next time Graham.

Within 15 miles of manchester city centre according to rightmove.

However, if thats not good enough, heres another 3....makes no difference to me.

House 1, £29k
http://www.rightmove.co.uk/property-for-sale/property-36671435.html

House 2, 35k
http://www.rightmove.co.uk/property-for-sale/property-21098022.html

House 3, 25k
http://www.rightmove.co.uk/property-for-sale/property-36504377.html

Total: 89k

RenovationMan

Jimmy_31 wrote: »

There are plenty of houses like those all over the north west, go to the 40/50k price range and that will get you a 3 bed semi in a lot of places............and a lot more soon.

But you're not looking around the Northwest, you said you were looking to buy on the outskirts of Manchester. I guess if 'outskirts' covers Darwen and other northern Lancashire mill towns then good luck with your morning commute! :rotfl:

wotsthat

Graham_Devon wrote: »

Out of interest....why not?

Doesn't conform to the rule?

Because the same rules of supply and demand are in place. A transfer of people from owner occupation to rental doesn't change the number of housing units or the number of people that need housing.

Lower rents and prices in Germany, if correct, is probably more likely because housing availability is closer to meeting the demand rather than because tenants are more secure. Just because rents are lower and security is higher doesn't show a causation.