I'm up 50k in 20 months

padington

Thrugelmir wrote: »

Take the profit while it's there.

Out of interest, what else do you suggest ?

chewmylegoff

padington wrote: »

Paid 282.5k. Spent 11k (walk on glass skylight, new boiler, window shutters and transformed garden).

Now valued at 350k

That's 56.5k to be precise. Take out buying fee's that's 47.5k up.

Also 'if' Foxtons are anything to be believed thats 97.5k profit in less that two years.

Oh yeah I would have to take out sellers fee's from that but still, not bad.

It's a bull market for sure.

Why not ask the Foxton's chap if he would like to buy it.

padington

chewmylegoff wrote: »

Why not ask the Foxton's chap if he would like to buy it.

When I was trying to buy, Foxtons were trying to sell a place I thought was overpriced by at least 35%. After a pretty long levelling to him why the asking price was just b*ll sh*t and he sighed and said 'well, you can't blame us for trying it on, that's our job'.

I can't understand how such a business model seems to continue to work given that their relationship with buyers will just get increasingly worse.

It makes me wonder how much those new fresh faced buyers are paying for that 'free' beer from the foxtons fridge ...

calicocat

I don't think mine will climb much as modern and in the northeast. It doesn't have to though as it can be a home for good....would be handy if it did though to downsize and give me some cash when I retire.

We'll see.


Oh and good for you, a good investment then.

HAMISH_MCTAVISH

padington wrote: »

Thanks to the property bulls on this forum I'm up 50k in 20 months.

This really was down to the rational of Hamish on here

Another success story.:)

Glad to be of help....:beer:

padington

HAMISH_MCTAVISH wrote: »

Another success story.:)

Glad to be of help....:beer:

The pleasure, as they say, is all mine. :T

Prothet_of_Doom

padington wrote: »

It's a handy investment vehicle, I get to live inside it and not pay a land lord rent ... :money:

.

Indeed
My parents have seen a £100K investment rise to £400K in 13 years
My Sister has seen an £85K investment rise to £200K in 8 years
I have seen a £46K investment rise to £180K in 15 years
My sil has seen a £26K investment rise to £180K in 26 year
My FIL has seen a £5K investment rise to £450K in 41 years.

When I say investment, I actually think the investment was the deposit, so call that 20%....Just treat the interest and capital repayments like it was rent, and Effectively if you can scrape together a deposit then the house is Free...You need to pay to live somewhere.

The government should tax the capital increase perhaps ? :rotfl:

chewmylegoff

padington wrote: »

When I was trying to buy, Foxtons were trying to sell a place I thought was overpriced by at least 35%. After a pretty long levelling to him why the asking price was just b*ll sh*t and he sighed and said 'well, you can't blame us for trying it on, that's our job'.

I can't understand how such a business model seems to continue to work given that their relationship with buyers will just get increasingly worse.

It makes me wonder how much those new fresh faced buyers are paying for that 'free' beer from the foxtons fridge ...

I suppose it works because the buyer can't usually choose which agent to buy their property through so if you want a property on their books then you have to deal with them.

That said they happily don't have an office in the area where I am looking to buy. They do cover all the areas I have ever rented in but I have never dealt with them as there's always been enough choice on the rental market to avoid them.

I do have a look at my local foxton's office's activity in the rental market from time to time. I have seen them advertise properties at a 100% premium to the market (sometimes so blatant that they will advertise an identical flat in the same block as another property that is on the market but at twice the price). God knows how long it takes them to get tenants in. I expect they may target the corporate lettings market.

padington

Wow - a property worse than mine on a slightly worse street from the same bunch of period houses ( four streets all with little 2 bed cottages ) has just been advertised by a local agent for £390k this morning.

That makes the foxtons quote look more believable, everything about my place is much nicer than this new property.

Things are on fire this neck of the London woods.

Expect to see Harringay making some serious gains in the stats this year.

Carl31

I was thinking about selling my car the other day, its old and a bit worn out, I thought about putting it up for sale for £3k
Some man came along, said hes a car expert and thinks its worth £15k
Im up £13k in 2 days, thanks to the man

Happy days, beers, gin etc..