'Financial crisis'

kinger101

CobaltBlue wrote: »

Good advice about choosing a house that will allow you to take in a lodger.

I have noticed a trend over recent years for people to knock down perfectly good structural load bearing walls, to "open up" their downstairs into lounge - diners...

I blame these TV programs where over borrowing young couples, say how important it is for their friends to come around and watch them cook etc....

Anyway - I would advise to keep your dining room separate, so giving you the option of another downstairs bedroom if needed...

Just my opinion....

If you want people to watch you cook, you actually need a kitchen diner. But you've made a rather sweeping generalization.

moneyistooshorttomention

CobaltBlue wrote: »

Good advice about choosing a house that will allow you to take in a lodger.

I have noticed a trend over recent years for people to knock down perfectly good structural load bearing walls, to "open up" their downstairs into lounge - diners...

I blame these TV programs where over borrowing young couples, say how important it is for their friends to come around and watch them cook etc....

Anyway - I would advise to keep your dining room separate, so giving you the option of another downstairs bedroom if needed...

Just my opinion....

That was exactly what I did in the event. I had planned on just one lodger and for a couple of years or so. In the event - my salary started "going wrong" and I had to take in lodgers for rather longer than planned on at the outset. Also, I chose anyway to re-erect the wall between the 2 reception rooms and, with that, was able to take in a 2nd lodger for a while as well when "things were worst".

sebadee

worried_jim wrote: »

Sorry, I subscribe-

<snip>
Growth will be strongest in the southwest at 39.7 per cent, followed by the West Midlands and the southeast at 34.9 per cent and 32.5 per cent respectively, the analysts said.
<snip>

Interesting that they see the biggest growth in the southwest? Is this due to the electrification of the great western line, and Londoners seeing it as a good reason to move out to the south west and commute in by train? Or locals seeing more jobs growth (or both even).

Davesnave

sebadee wrote: »

Interesting that they see the biggest growth in the southwest? Is this due to the electrification of the great western line, and Londoners seeing it as a good reason to move out to the south west and commute in by train? Or locals seeing more jobs growth (or both even).

It's a great place to live, but much of it won't be viable London commuting territory. My guess is even greater pressure from retiring baby boomers and jobs growth in the larger cities.

(Won't affect where I am too much though!)

booksurr

Ruby_Hepburn wrote: »

I have little knowledge about the stock market, but can anyone tell me if any off this 'financial crisis' news the papers are telling us would effect the housing market, or employment situations? I have an offer of interest (mortgage and survey pending) on a property, and though we plan for it to be our 'forever home' and not move again, I am slightly worried we are heading towards a 2008 downturn. I am a first time buyer, and also worried how it would effect jobs as we couldn't afford the house should either myself or my partner lose our jobs.

The offer we had accepted was a good price, but I don't want to find ourselves in negative equity as we only have a 5% deposit

you seem very confused

if you really are a FTB yet this will be your "forever" home then it is utterly irrelevant whether you over or under pay at this point in time because you won't be selling up for the foreseeable future and by the time you do you cannot but fail to have acquired equity as you will have repaid lots of mortgage

i think you should stop playing pointless guessing games and decide once and for all if you want this house or not to live in, not as an "investment"

MJ12

If house prices drop in the future, the value of your house might be lower, but other houses will be cheaper too. You will still be able to move.
I would be more worried if house prices rise. It would be harder to up-size then if you decide you need a bigger house.

DandelionPatrol

G_M wrote: »

Buy a cardboard box as a fall back just in case....

I have one already. It's so good that I have thrown out the crystal ball.