Does being a home owner change you mentally?

wannabe_credit_free

shortchanged wrote: »

Being a homeowner does lead to random bouts of groin thrusting and shouting at the hapless yoof.

Had a visual of that and nearly choked on my tea....:rotfl::rotfl:

wotsthat

LydiaJ wrote: »

Percy isn't saying "poor me" though. He's saying that if his hypothetical children inherit half a house each, he still doesn't find that enough of a reason to make him want house prices to rise. He wants the generation coming after him not to have too hard a time getting homes for themselves. I don't find that selfish or entitled.

He's making a hypothetical link that in the scheme of things is irrelevant.

In the real world people aren't waiting for their parents to die before they can buy a house (unless they're failures). Upon Percy's demise the chances are his two hypothetical children will be owner occupiers with their mortgages being a distant memory. The link between the size of the inheritance and what his children had to pay for houses will become increasing tenuous because over time the price of house matters less and the cost of housing matters more.

May as well spend his time hand wringing about how his average interest rate is lower than what his children may have to pay.

It smells like middle class angst to me because we're lucky enough not to have better things to worry about. I don't - my kids will be just fine and I expect them to have a better standard of living than me irrespective of the agony of not everything getting cheaper.

Out,_Vile_Jelly

I've become more anxious and stressed. My annual leave is now spent waiting around for deliveries and tradesmen instead of doing interesting things so I don't get time to properly relax.

I now have to know and care what a "soffit" is, whereas I was in blissful ignorance of this word in a rented flat. I've discovered I hate DIY and furniture shops.

My house has gone up in value; so has the kind of property I'd like to buy in future (back in the nice part of town where I could afford to rent but not buy). I worry about who exactly is going to be able to buy my house off me. I worry about the kind of country Britain is becoming if it gets ever-obsessed with over-priced property.

wotsthat

Out,_Vile_Jelly wrote: »

I've become more anxious and stressed. My annual leave is now spent waiting around for deliveries and tradesmen instead of doing interesting things so I don't get time to properly relax.

I now have to know and care what a "soffit" is, whereas I was in blissful ignorance of this word in a rented flat. I've discovered I hate DIY and furniture shops.

My house has gone up in value; so has the kind of property I'd like to buy in future (back in the nice part of town where I could afford to rent but not buy). I worry about who exactly is going to be able to buy my house off me. I worry about the kind of country Britain is becoming if it gets ever-obsessed with over-priced property.

You need a holiday. Have you thought about mewing?

LydiaJ

wotsthat wrote: »

He's making a hypothetical link that in the scheme of things is irrelevant.

In the real world people aren't waiting for their parents to die before they can buy a house (unless they're failures). Upon Percy's demise the chances are his two hypothetical children will be owner occupiers with their mortgages being a distant memory. The link between the size of the inheritance and what his children had to pay for houses will become increasing tenuous because over time the price of house matters less and the cost of housing matters more.

May as well spend his time hand wringing about how his average interest rate is lower than what his children may have to pay.

It smells like middle class angst to me because we're lucky enough not to have better things to worry about. I don't - my kids will be just fine and I expect them to have a better standard of living than me irrespective of the agony of not everything getting cheaper.

But I don't read him as having been hand wringing at all. He said that he can't see that rising house prices are any advantage to him. He felt that people were saying that if houses went up in value this would be an advantage to his heirs, and he thinks it wouldn't particularly be so. This is just a refusal to buy into the "HPI is good" idea, and I can't see how that's middle class angst.

mayonnaise

LydiaJ wrote: »

He said that he can't see that rising house prices are any advantage to him.

He'll change his tune when his 5 year fix is up and needs to re-mortgage. If HPI continues and he can get a low LTV deal, I'm sure he won't mind the extra cash in his pocket.

ruggedtoast

The hardest thing for me when becoming a home owner was severing all links with my renter friends. Even now I still sometimes get a hopeful invite to a renters' dinner party but I just can't bear the thought now. All those mismatched chipped plates and Lidl chardonnay out of mugs, or just straight swigged from the passed around bottle.

Now I just spend most evenings dancing around the kitchen table punching the air and groin thrusting while my partner F5s Zoopla.

wotsthat

LydiaJ wrote: »

But I don't read him as having been hand wringing at all. He said that he can't see that rising house prices are any advantage to him. He felt that people were saying that if houses went up in value this would be an advantage to his heirs, and he thinks it wouldn't particularly be so. This is just a refusal to buy into the "HPI is good" idea, and I can't see how that's middle class angst.

Percy bought a couple of years ago, doesn't have children and his hypothetical heirs won't inherit until about 2070 and he's worried about the relative effect of HPI on the value of his estate vs the increased house prices his children may have to pay.

No that's not middle class angst at all.

the_flying_pig

wotsthat wrote: »

He's making a hypothetical link that in the scheme of things is irrelevant.

In the real world people aren't waiting for their parents to die before they can buy a house (unless they're failures). Upon Percy's demise the chances are his two hypothetical children will be owner occupiers with their mortgages being a distant memory. The link between the size of the inheritance and what his children had to pay for houses will become increasing tenuous because over time the price of house matters less and the cost of housing matters more.

May as well spend his time hand wringing about how his average interest rate is lower than what his children may have to pay.

It smells like middle class angst to me because we're lucky enough not to have better things to worry about. I don't - my kids will be just fine and I expect them to have a better standard of living than me irrespective of the agony of not everything getting cheaper.

:T

well done, we got there quicker than usual.

standard procedure is as follows but it quite often takes a fair few pages to get there:

(a) one of the usual estate-agent-suspects claims that HPI is good for most/all home owners;
(b) someone very carefully explains that the only unambigous beneficiaries are: (i) BTL-ers; (ii) owner-occupiers who've both reached the top of their personal housing ladder & who have no more than one offspring.
(c) one or more of the EAs start to change tack & rather than arguing that HPI is good for people settle for changin tack completely, & just muttering sometihng along the lines of 'well, the market has spoken - deal with it' or 'selfish of you to go on about tihs given all the world's other problems' etc.

anotheruser

I think yes.

A friend of mine said her house cost her about £80,000 when she bought it in the mid 80's. Now it's worth over double that.

Can anyone tell me one thing that happens like this?

House prices go up and down. I think homeowners are a little greedy and expect their house to be constantly increasingly in value, which is completely naive.

Like Thrugelmir above, I don't care what my house is worth as I make it my home rather than a temporary house that I can sell it to make a quick buck.