The 3 bed property for 120K thread.

Loughton_Monkey

HAMISH_MCTAVISH wrote: »

Ah, yes, sorry about that my simian friend.

But the question was what you can buy for 120,000 pounds.

Not 120,000 peanuts.;)

Understood. But you still wont be able to buy a house in Loughton for less than 450 metric tons of peanuts. I'd stay up in Scotland if I were you.

Loughton_Monkey

PasturesNew wrote: »

Looking for a 3-bed house is one thing .... you don't fare much better if you're looking for a 1-bed house. Obviously plenty of pokey flats are everywhere... but flat living is, imho, peasant living.....

Agreed. The peasants round this way have to pay £300K for a 1-bed flat.

http://www.higginshomes.co.uk/en-GB/developments/ArtisanApartments/introduction-current.aspx#!prettyPhoto

This was one single house before the builders got their hands on it. Probably bought it for £500K or so. A simple demolition and re-building job means they can trouser about £2.3 million from the 7 flats they managed to squeeze in.

Don't know what makes them 'Artisan'. Certainly not garage or shed space in which to start a business.

PasturesNew

Loughton_Monkey wrote: »

Agreed. The peasants round this way have to pay £300K for a 1-bed flat.

http://www.higginshomes.co.uk/en-GB/developments/ArtisanApartments/introduction-current.aspx#!prettyPhoto

This was one single house before the builders got their hands on it. Probably bought it for £500K or so. A simple demolition and re-building job means they can trouser about £2.3 million from the 7 flats they managed to squeeze in.

Don't know what makes them 'Artisan'. Certainly not garage or shed space in which to start a business.

£300k for a 1-bed flat .... and no lifestyle. Rip off.

Yes, as people have pointed out, you CAN find flats with A, B, C features - but they cost more and you're still a serf to the service charges etc.

If I ever got a flat it'd have to have its own entrance, own garden, garage, extra parking space.

I want to be able to roll up to my house, pull into my drive, block my garage entrance, wave at my friend who is arriving and also pulling onto my driveway ... open my doors, get my shopping out, wedge my back door open while I lug it in..... all without panicking that I am in somebody else's space, somebody else might be home soon, I'm leaving a communal doorway insecure.... etc etc ...

Me and my friend should then be able to wander in/out of the garden easily .... and potter in/around the shed/garage getting things organised (like bikes, kayaks, hobbies/crafts materials) .... before pulling out the hose, or getting buckets of water and washing the cars in the driveway without having to move them or worry what other people might want to do in the next 3 minutes.

Houses ..... are for people with interests and lives. Cheap flats are pokey cupboards you can sleep in.

DpchMd

Graham_Devon wrote: »

Well it is really.

The average wage across all workers is 18-22k for 30 miles out of York. 21k for York itself. 26k full time.

So were talking 5-6x income houses here.

And if you are living 30 miles out, you can count on paying £200-250 in fuel per month to get to work in the first place.

Nice muddling of the figures there Graham. What's your agenda?

- £120k house with a 20% deposit = £96k mortgage.

- 2 full time workers earning £26k = £52k household income.

= 1.8x income mortgage

I think we can both agree that this will meet most lenders' affordability requirements.

Let's assume a 5% mortgage rate, this means the mortgage will cost them £560 per month, easily manageable on their combined net income of £3,300pcm, even incuding your travel costs.

In fact, they even have enough money to start a family and live off one salary.

So, what's your agenda?

Loughton_Monkey

DpchMd wrote: »

Nice muddling of the figures there Graham. What's your agenda?

- £120k house with a 20% deposit = £96k mortgage.

- 2 full time workers earning £26k = £52k household income.

= 1.8x income mortgage

..............

So, what's your agenda?

Not sure you'll get a rational reply to this.

Graham has his own dictionary.

House: A construction of bricks & mortar that nobody can afford.

Mortgage: A loan at rip-off interest rates that absolutely no-one can afford these days.

Deposit: An amount of savings such that it is impossible to save, which locks everyone out of ever getting a mortgage.

Agenda: Another way of describing whether you have two X chromosomes or an X and a Y chromosome.

Percy1983

PasturesNew wrote: »

Looking for a 3-bed house is one thing .... you don't fare much better if you're looking for a 1-bed house. Obviously plenty of pokey flats are everywhere... but flat living is, imho, peasant living. There's no quality of life in a flat. Where'd you put your bike, your kayak.... where can you put the collections of hobbies items... for me, I want a hobbies space that includes a sink, lighting, space to store buckets of stuff, saws/hammers/torches... drying areas for small items I am exploring/building.

Houses and outside space give people the space to do things, to enjoy things - to start micro-businesses. I think the high price of houses has affected a Briton's ability to be an entrepreneur.

Many of the entrepreneurs on Dragons' Den started from their garage.... thousands do. No garage, no outside space, etc etc means less entrepreneurs dabbling and experimenting with ideas.

This is true, luckily I have enough space to run my business due to a decent size house, its wouldn't be possible at busy times in a flat.

Mr._Pricklepants

Percy1983 wrote: »

This is true, luckily I have enough space to run my business due to a decent size house, its wouldn't be possible at busy times in a flat.

What business is that, Percy?

Percy1983

The one I started on the 13/01/2012.

chewmylegoff

Mr._Pricklepants wrote: »

What business is that, Percy?

percy's business is a BTL Landlord exterminator service known as "Landlordbusters". with 3 of his friends, he provides an on demand service, capturing BTL Landlords in a sophisicated nuclear powered containment device. it doesn't make much money, but there is a lot of job satisfaction.

experts are divided on whether it is likely that a legal action bought by hamish will result in percy's BTL landlord containment facility being turned off and all the BTL landlords released en masse causing an unprecedented house price boom round your way. reports that a giant marshmallow is involved are unconfirmed.

ILW

chewmylegoff wrote: »

Aren't you moving the goal posts a bit. First it was just £120k for a 3 bedder in various locations, but now you are implying that these are places that are good for a family with young kids or "half decent" areas. I haven't followed all of the links in this thread, but I've yet to see one I'd even consider buying to live in alone, let alone bring up a family.

My particular favourite is the 3 bedder with a "garden" in London posted by ILW, in an area that no one sane would choose to live in even if they were giving the house away for free.

I lived in Abbey Wood for a few years. It's OK unless you are a total Hooray Henry wimp I suppose.

Do you consider the type of people that do buy and live in such areas as sub human?