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beanielou
Posts: 90,576 Ambassador
My first house cost £19,000 24 years ago.
It is now on the market @ offers over £105,000.
Scary.
So that must be a first time buyers price around here now.
How much would you pay for a mortgage that size??:eek:
It is now on the market @ offers over £105,000.
Scary.
So that must be a first time buyers price around here now.
How much would you pay for a mortgage that size??:eek:
I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.
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Comments
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My first house cost £19,000 24 years ago.
It is now on the market @ offers over £105,000.
Scary.
So that must be a first time buyers price around here now.
How much would you pay for a mortgage that size??:eek:
Somewhere above 700 per month, assuming 6.5% rates over 25 years.
But is it not usual for the 'offers over' system in Scotland to result in 20% or higher above valuation?
So let's say it goes for 125K, or £850 per month.
Being so used to the frenzy of recent years, an increase from 19K to 105K over 24 years seems rather low :rotfl:Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
my grandfathers house sold for £40,000 in 1999, £120,000 in 2005 and a few months ago for £175,000!! its a 3 bed semi in a village with no amenities (sp?) at all. But i guess if people are willing to pay it, it will keep increasing in value. i just wish I could have bought it when my grandafther died. but i was only 16!
I am now 25 and no chance of getting a mortgage. house prices have trebled in under 10 years whereas the avarage wage here has not gone up much at all!
I even struggle to rent as rents have doubled in just 5 years!0 -
Its scary.
I dont think my son will ever be able to afford to buy.
The house Im in now has increased in value four fold in the last 20 years.
Couldent afford to buy it now thats for sure.
Rents here havent gone up that much at all in 10 years or so.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Its scary.
I dont think my son will ever be able to afford to buy.
The house Im in now has increased in value four fold in the last 20 years.
Couldent afford to buy it now thats for sure.
Rents here havent gone up that much at all in 10 years or so.
Sooner or later some there will be enough votes in dropping house prices to make it worth some party doing something serious about it."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Our first house was purchased for £37k in 89 and sold in early 2007 for £115.500. Our 2nd house I dont think has gone up at all yet, theres a house a few doors up that's valued the price we paid for ours in Feb 2007 and similar house
I could never afford to start again on a 100% mortgage on even the smallest of houses that go for around £110k
Incidentally my old house that sold in 2007 for 111.500 is probably worth about 118k now as they are the houses that are selling 2 up 2 down.0 -
The house I now own was bought brand new from the builders in 1975 for £15000. It's now worth over £200,000."You were only supposed to blow the bl**dy doors off!!"0
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