Land Registry - January up 1.1% mom

DaddyBear

RenovationMan wrote: »

Just two questions...

1. How much of a deposit did you put down when you bought your house?
2. How long did it take you to save for that deposit?

1. £50k

2. 3 years

Percy1983

RenovationMan wrote: »

So much for all the 'priced out' and 'the lost generation' rhetoric. 8 months to save a deposit and a house is bought. Simples.

That is down to much hard work on our part in getting salaries above the local average by quite a margin and the much mocked both of us still living with parents.

Mix that with us not minding living in a 'scum pit' and you can say we have had it easy.

But because our hard work and good decisions mean we could buy easily that means all young people can now afford houses?

RenovationMan

DaddyBear wrote: »

1. £50k

2. 3 years

So after saving up for 3 years you'd be happy to lose £50k and then some so that someone else buying after you can afford a better house?

RenovationMan

Percy1983 wrote: »

That is down to much hard work on our part in getting salaries above the local average by quite a margin and the much mocked both of us still living with parents.

Mix that with us not minding living in a 'scum pit' and you can say we have had it easy.

But because our hard work and good decisions mean we could buy easily that means all young people can now afford houses?

Why have you bought a 'scum pit' when you could have saved up longer than 8 months and bought a non-scum pit?

Percy1983

RenovationMan wrote: »

So after saving up for 3 years you'd be happy to lose £50k and then some so that someone else buying after you can afford a better house?

I know you didn't ask me that question, but either way I wouldn't mind losing my deposit as my monthly payments would still be less than renting and I couls till call it home.

Long term I am on my death bed and my 2 children (hopefully) are going to inherit the house and its only worth £60k, that great as to sell, split and buy they would need £30k each to buy a similar house. Where if my house was worth £180k, yeah great they get £60k more each, but to buy a similar house they would need an additional £90k, so which is the best situation.

Percy1983

RenovationMan wrote: »

Why have you bought a 'scum pit' when you could have saved up longer than 8 months and bought a non-scum pit?

Because we call that 'scum pit' home.

By definition we don't see it as a scum pit but many on here do and wouldn't want to come and live here.

RenovationMan

Percy1983 wrote: »

I know you didn't ask me that question, but either way I wouldn't mind losing my deposit

I'm not surprised as it only represents 8 months of your life and £9k. I've 'lost' that in a day on my pension investments and was also quite sanguine about the whole thing. Had I lost £50k, I think I'd be beside myself with grief.

RenovationMan

Percy1983 wrote: »

Because we call that 'scum pit' home.

By definition we don't see it as a scum pit but many on here do and wouldn't want to come and live here.

What's it like?

DaddyBear

RenovationMan wrote: »

So after saving up for 3 years you'd be happy to lose £50k and then some so that someone else buying after you can afford a better house?

It doesn't bother me, especially as we'll be moving up the ladder in 4 years time so the house we'll be buying will have lost significantly more than our house. Prices would have to drop over 25% to scupper that move, and if I thought there was any chance of that happening I wouldn't have bought.

shortchanged_2

Percy1983 wrote: »

I know you didn't ask me that question, but either way I wouldn't mind losing my deposit as my monthly payments would still be less than renting and I couls till call it home.

Long term I am on my death bed and my 2 children (hopefully) are going to inherit the house and its only worth £60k, that great as to sell, split and buy they would need £30k each to buy a similar house. Where if my house was worth £180k, yeah great they get £60k more each, but to buy a similar house they would need an additional £90k, so which is the best situation.

You've got it all wrong Percy.

Didn't you realise it's good to have a massive mortgage. This benefits everyone, apparantly.