First Time Buyers - Enough is Enough!

Woby_Tide

so 4 of you in a household of 6 and and you pay 50% of bills....*does calculation*........I bet this isn't you writing on this website at all, it's your dad trying to drum up a house price crash so he can see the back of you

I bet you've fitted a coin operated lock on their toilet and are charging them 20p to use the loo aren't you?

deemy2004

dougk wrote:

If I were your parents I would be charging you rent Deemy as well as the 50% of the bills - at least half the going rate!
They are not very good MSE's!

Shhhhh !!!

deemy2004

Spendless wrote:

So what put you off Deemy? Did you think you couldn't afford the mortgage payments? Or did you think then that the price would come down from that or did you think you'd prefer to save more of a deposit?

Just interested to know.

I could afford to buy it, but I thought house prices would come down .....

I thought, I THOUGHT !!! I could get it or something similar for £100k ! ...

I had a photo of it, but can't find it at the moment, a four bed detached with a good front drive !

Offcourse, I acknowledge that I could be wrong again, but somehow this time the odds seem stacked in my favour.

deemy2004

Woby_Tide wrote:

so 4 of you in a household of 6 and and you pay 50% of bills....*does calculation*........I bet this isn't you writing on this website at all, it's your dad trying to drum up a house price crash so he can see the back of you

I bet you've fitted a coin operated lock on their toilet and are charging them 20p to use the loo aren't you?

I confess to being tight fisted.

My new years resolution was to spend more.. But it is very tough to part with blood from a stone...

rchddap1

You can't be wrong all the time Deemy. The law of averages afterall, but then there is good old 'sods law' too.

Spendless

deemy2004 wrote:

I could afford to buy it, but I thought house prices would come down .....

I thought, I THOUGHT !!! I could get it or something similar for £100k ! ...

I'm intrigued as to why you thought this Deemy? In 2001 I couldn't get what I paid for my house in 1994 (we tried!), but this was bottom end of market and people were by-passing them in favour of bigger/better places.

We had it in mind (from 99 when we married) to buy a bigger place at the end of 2002 which was when we had a share-save come in and a loan end. We were always aware that the sort of house we were looking for would have gone up a few thousand (but not more than £5-6K) but never that it would come down. As it happened the right house in the right place came up 18 months early but we decided to go for it, found people to rent mine and lived to be thankful as the boom took off here in the summer of 2002.

So what happened after you didn't buy this house? Did the boom start then? Didn't you think I'll buy now just in case they continue to rise?

deemy2004

I did twice put in offers on subsquent houses and had accepted, got to the signing contracts stage and pulled out !

Did it in early 2003 and mid 2003.

Offcourse the houses appreciated significanly since, especially the first one in 2003 which is probably some 40% higher in price now !

Though I don't regret about pulling out on the second one, but do the first one !

What can I say..... ? I made mistakes....
Apparently some really daft ones !

Still I can console myself with the rising cashpot which if house prices do fall the expected 12% will grow significantly relative to house prices in three years or so time..... unless they jump another 40% ! :eek:

Spendless

deemy2004 wrote:

I did twice put in offers on subsquent houses and had accepted, got to the signing contracts stage and pulled out !

Did it in early 2003 and mid 2003.



Though I don't regret about pulling out on the second one, but do the first one !

So why pull out?

To be honest you remind me of a mates husband who pulled out of buying on several occassions the last time when the vendor asked for an extra £1,000 the day they were due to sign. Personally I'd have paid . I'd not have been happy but I'd have paid. He wouldn't and they continued to live in their 2 bed council house which became too small when friend had a baby girl when her son was 14!

2 bed house 2 kids different sex 14 year gap!.


They thought they'd save a bigger deposit but of course the boom happened. They've ended up buying the 2 bed place from council and are building an exptension. Of course all this has cost them a lot more than the extra £1,000 on the 3 bed semi they were going to buy!

It honestly didn't occur to me to think whether I'd get a place for more or less the following year. I bought cos I wanted somewhere to live!

Hope Mrs Deemy's forgiven you though ;- )

frugal_dougal_3

deemy2004 wrote:

Yeh they started with terraces for the first couple. Then bought the current house in 1974, which I think was also a big property slump !

Not according to the Daily Mail last Saturday. It stated that 1970-1974 was the biggest boom in property prices in history at 13% per year. It slowed after that but did not slump.

frugal_dougal_3

johannamse wrote:

Not paying any rent is worthy of a massive sponging badge! You are very, very, very lucky, most of us are not in such a position.

What goes around comes around. Deemy's kids will end up doing this too!