How Much Did Your House Earn In 2015 ?

Mistermeaner

It's lovely here.

My house was and still is cheap.

michaels

worried_jim wrote: »

I am looking forward to doing just that. Will sell my south coast two bed flat and move back north were I shall buy a three bed cottage with garden, a summer home in turkey and a Porsche 911. can't wait!

A boat may be more useful than that porsche when you live up north...

lisyloo

but I can't see any positive reasons that I wouldn't need a home

Not sure how old you are or how big your home is, but it's certinaly possible that one day some of us may want a smaller home - or be willing to move to a cheaper area and hence can release equity.
Of course it depends on health, but when you get in your 80's/90's it can get difficult to maintain both the property and the garden and some people may wish to move nearer to offspring.

I make seperate pension/retirement provision, but it is there also should it be required. Of course it depends on how big your home is to start with.

unbeareableLightness

Zoopla estimates that my rather modest 1 bed flat in southeast London has risen by £60k! :eek:

In the ratings it says this with 'high confidence level'. How can this possibly be true? I'll guess more realistically at half this price or maybe a quarter.

michaels

lisyloo wrote: »

Not sure how old you are or how big your home is, but it's certainly possible that one day some of us may want a smaller home - or be willing to move to a cheaper area and hence can release equity.
Of course it depends on health, but when you get in your 80's/90's it can get difficult to maintain both the property and the garden and some people may wish to move nearer to offspring.

I make seperate pension/retirement provision, but it is there also should it be required. Of course it depends on how big your home is to start with.

Hmm - how elderly do I come across? - sadly we are looking at a >15 year time frame before any of those things come into play which is only worth planning for in a very broad way and the level of house price inflation during 2015 is unlikely to be a huge determinant in what I choose to do then.

lisyloo

Hmm - how elderly do I come across?

Yes it's in the future when we would need to downsize although you may choose to around retirement if you don't have the restrictions of being near work or perhaps when the kids leave home or perhaps you may just want a simpler, less encumbered life (I have to admit there are upsides to our London flat with no garden, outbuildings or vehicles to maintain).

I am not saying it should be planned in (in fact I don't think it should be planned into retirement planning), but I am saying that the equity can be an asset if your house is bigger than your needs (once the kids leave home) or in a more expensive area (such as SE or London) than where you need/want to live.

I like my home, but it's certainly expensive to run a large house, so I can see there might be circumstances where we choose to downsize. For example smaller home in return for 5 years extra retriment or higher retirement income. I can certainly imagine that being an acceptable compromise for many especially when the kids are gone. With house prices rising even more so - for example get rid of 2 spare bedrooms doing nothing for £300K - sounds pretty good to me.

worried_jim

Wednesday2000 wrote: »

Wow, how much do you think you will get for your flat?

£215k today, need about £50k for Turkey, £140K for house in Derbyshire (near Belper by the river) and left over gets the Porsche.

The flat has increased £23k in the last 12 months and I expect another 25% over the next ten years when I plan to sell/move/buy.

Mistermeaner

Good Lord don't buy in Turkey. Or near a river. And why waste money on a !!!!! car.

Are you sure you've thought this through

worried_jim

Mistermeaner wrote: »

Good Lord don't buy in Turkey. Or near a river. And why waste money on a !!!!! car.

Are you sure you've thought this through

Each to their own.....

GoldenShadow

Mine has gained 4.3% since September when we bought it according to Zoopla. Means nothing unless we try and sell and achieve it though. And we won't be going anywhere for a while.