Concrete over the greenbelt. Generation Rent is at breaking point

cells

Generali wrote: »

I don't dispute your numbers but the problem is where do you fit having kids into that scenario.

You leave Uni aged 22-23. Spend perhaps a couple of years saving a deposit so are now 24-25.

You then still require two incomes five years later (aged 29-30) to buy the three bed house.

When does a woman get to fit in having kids and how can they afford childcare? At age 30 a woman's fertility starts to decline quite quickly. Lest we forget a man is a sperm factory whereas a woman is an egg warehouse. Once the eggs have degraded or been expelled there ain't no more coming along.

Economics trumps politics but biology trumps economics.

Society expectations and ignorance seems to trump biology

One of the most stupid things of our time for my generation is the stupid belief that your life should be near perfect before you get married or have kids rather than the old norm which was to get married (often young) amd try to build a good life together

Its resulting in a lot of women (and men) who will ultimately never have children. I think the ratio in my peer groups could well be as high as 50% or even higher! but it will take ten years to find out.

lisyloo

Not everyone wants to live in a flat. They normally have high service charges (for people able to do their own diy), there is generally no private garden, little parking and not always storage for mobility scooters.
My mum has a bungalow with all of those facilities and no service charge.

cells

ukcarper wrote: »

If there is no need why do you think that they sell very quickly at prices approaching that of a house on the same plot size.

Your problem is you are imposing what you want on to what other people might want especially people like me who live in a house to large for their needs and can afford to stay put.

Often bungalows sell at a premium as the area/street etc is 'gentrified'

Think of your town the bad areas probably sell for a 20% discount and the good areas for a 30% premium. Same sized homes and plots. In most towns I suspect the bungalow parts are seen as the 'better' parts

People pay the premium or expect the discount due to the neighbours there not the land or building.


I've looked into this previously and imo its correct. Eg in some streets which are predominantly bungalows there are some detached two floor homes and they are more expensive than the bungalows

ukcarper

lisyloo wrote: »

Not everyone wants to live in a flat. They normally have high service charges (for people able to do their own diy), there is generally no private garden, little parking and not always storage for mobility scooters.
My mum has a bungalow with all of those facilities and no service charge.

True although service charges are high that is something I could put up with if they weren't to bad. But lack of parking and secure outside storage are things I can't and as I can afford to stay where I am that's what I will do.

ukcarper

cells wrote: »

Often bungalows sell at a premium as the area/street etc is 'gentrified'

Think of your town the bad areas probably sell for a 20% discount and the good areas for a 30% premium. Same sized homes and plots. In most towns I suspect the bungalow parts are seen as the 'better' parts

People pay the premium or expect the discount due to the neighbours there not the land or building.


I've looked into this previously and imo its correct. Eg in some streets which are predominantly bungalows there are some detached two floor homes and they are more expensive than the bungalows

No in my area you can't buy a 2 bed detached bungalow for the price of a 4 bed detached house in sillier areas. The semis are close enough to my 4 bed that it makes downsizing unattractive.

cells

ukcarper wrote: »

No in my area you can't buy a 2 bed detached bungalow for the price of a 4 bed detachehouse in sillier areas. The semis are close enough to my 4 bed that it makes downsizing unattractive.

I suppose you could ask a few people who have bought such bungalows instead of 4 bed properties similar to your own as to why they have gone with the more expensive 2 bed bungalow rather than the cheaper 4 bed homes.

in my experience its often the case that those streets are just valued higher due to who already lives their. Its like how the good parts of town are valued higher than the bad parts. However there isn't one good part of town and one bad part. There could be a spectrum of say 20 parts with the worst to the best

often the bungalows streets are seen as the better parts. This is probably no coincidence as the older folk who live there are likely to be quiet and respectful and tend to tend to their gardens and properties also you dont get many BTLs there due to less attractive yeidls.

As I've siad before you will often find that on a particular street a bigger home is worth more than a smaller home. Comparing one street to another quarter of a mile away isn't the same thing


personally if I were 65+ now and couldn't tend to a larger house I would consider a flat close to town rather than a bungalow. the 50% social housing of the block would probably put me off somewhat. Flats do have service charges ~1k a year but homes need upkeep too.

cells

ukcarper wrote: »

True although service chheathe hiis something I could put up with if they weren't to bad. But lack of parking and secure outside storage are things I can't and as I can afford to stay where I am that's what I will do.

In my experience few older people downsize until health forces it (or often a death of one of the two parties). Costs seldom dictate it

Personally I like the idea of a one/two bed flat (with lifts) within a 10 min walk to shops/supermarket in my latter years but that would be age 70+ depending on how health holds out. I wouldn't want to be driving at that age

lessonlearned

The problem with flats - v - bungalows is that few flats have good balconies for private outdoor space. - not everyone wants to have to sit in communal areas.

I used to work for property developers building new build homes. If I had £1 for every request for a new build bungalow I would be very rich........

Bungalows will always be the most popular option for retirees - with a garden, private parking or garage, maybe a shed or conservator, none of which you would get with a flat.

I am currently looking to downsize and have been viewing bungalows. I agree with UK Carpers assessment of prices, the ratio does seem to be about right - a decent sized two bed bungalow is roughly the equivalent price of a four bed house.

ukcarper

cells wrote: »

I suppose you could ask a few people who have bought such bungalows instead of 4 bed properties similar to your own as to why they have gone with the more expensive 2 bed bungalow rather than the cheaper 4 bed homes.

in my experience its often the case that those streets are just valued higher due to who already lives their. Its like how the good parts of town are valued higher than the bad parts. However there isn't one good part of town and one bad part. There could be a spectrum of say 20 parts with the worst to the best

often the bungalows streets are seen as the better parts. This is probably no coincidence as the older folk who live there are likely to be quiet and respectful and tend to tend to their gardens and properties also you dont get many BTLs there due to less attractive yeidls.

As I've siad before you will often find that on a particular street a bigger home is worth more than a smaller home. Comparing one street to another quarter of a mile away isn't the same thing


personally if I were 65+ now and couldn't tend to a larger house I would consider a flat close to town rather than a bungalow. the 50% social housing of the block would probably put me off somewhat. Flats do have service charges ~1k a year but homes need upkeep too.

That's it your making the same mistake many people your age make I may be 65+ but I'm still active enough to do most of the maintenance on my house and indulge in the hobbies I have always.

cells

lessonlearned wrote: »

The problem with flats - v - bungalows is that few flats have good balconies for private outdoor space. - not everyone wants to have to sit in communal areas.

I used to work for property developers building new build homes. If I had £1 for every request for a new build bungalow I would be very rich........

Bungalows will always be the most popular option for retirees - with a garden, private parking or garage, maybe a shed or conservator, none of which you would get with a flat.

I am currently looking to downsize and have been viewing bungalows. I agree with UK Carpers assessment of prices, the ratio does seem to be about right - a decent sized two bed bungalow is roughly the equivalent price of a four bed house.

Maybe its pensioners in 4 bed homes who want/need to sell and buy a bungalow who are setting the price by bidding the maximum they have which is the money from their 4 bed house sales