For those who think we had it easy...

tomstickland

I bought my flat for £85K last year. At that time there were several flats for around £90-100K in the area. I had a look on rightmove last week and the cheapest flat available is £115K. That's 4x a £30K salary.

Maybe the point is that there are many properties out there that can be bought cheaply and renovated.

In this case a foreign investor has cpatalised, if a FTB bought it then they would be living in a property with current 70,000 equitable value

Nowadays every viable renovation project has 100s of people looking at it.

Sorry I'm off message now. No there's no pricing problem, it's just that FTB's all expect a 6 bed mansion for their first house.

lieutenant_dan

Sorry I'm off message now. No there's no pricing problem, it's just that FTB's all expect a 6 bed mansion for their first house.[/quote]

Many just want the bare minimum (one bed flat or even studio) which is well out of reach of even an average wage wherever you live in the country, never mind a minimum wage earner.

And this thing about undesirable areas is misleading anyway, certainly in London/the South East. So called rough areas of London are a lot more expensive than living on the outskirts, due to accessibility.

Running_Horse

lieutenant_dan wrote: »

Wow. For someone who consistently claims to have perspective, be reaping the rewards of earlier sacrifices made in times which were a lot more conducive to homebuying etc, etc, you sure come across as being an angry and resentful man. And with a settled family life now, in the process of upgrading, where does all this hostility come from? Surely if that really is the case, you'd be better served staying out of debates like this and enjoying your life?

But I've had a think about it, and reckon that the likes of yourself and others in the thread resent others they perceive (wrongfully in many cases) as having a good time in their youth (which should be the natural order anyway) instead of tying themselves down with mortgages - if they were able to get one in the first place - because maybe they look back and resent not having freedom in their own prime time of their lives, as they now approach middle age? That's where all this nonsensical irrelevant stuff about wasting money on ipods comes from as well probably. Just a thought.

All I was saying is I've heard of "buy low, sell high" but "buy high, buy high", no, that's a new one on me.

And I started off on a low salary (probably a crime in your view) and as I've explained time and again, only now has my salary reached a level where I am within touching distance of affordablity, but have to have a large deposit (10 or maybe 15%) to do it. But I'm working on it. And I enjoyed my youth, not at the expense of a mortgage because I was consistently outside the affordability scale, but I enjoyed it nonetheless, did you?

And re your previous comments about stretching to 4+ times your mortgage, many will feel the squeeze of this for years when circumstances change in the market/interest rates, and with the clampdown in mortgage lending, I'll think you'll find now that the 5 or 6 times your salary mortgage lending days are over, and therefore I think you'll find that you could NOT have afforded your 2 bed place in the current climate.

Keep ignoring me Dan, I can take it. I'm so jealous of you.

carolt

Now, now. Think it's time for a :grouphug: and all say sorry and make up....

Housing can be a very stressful issue - but not that stressful - time to :beer: and do a bit of that naughty 'enjoying yourself' thing we've all been berated for doing too much of on here.... Understand the housing meet is on soon, though I shan't be able to attend sadly..... might be a good occasion?

mr.broderick

carolt wrote: »

Now, now. Think it's time for a :grouphug: and all say sorry and make up....

Housing can be a very stressful issue - but not that stressful - time to :beer: and do a bit of that naughty 'enjoying yourself' thing we've all been berated for doing too much of on here.... Understand the housing meet is on soon, though I shan't be able to attend sadly..... might be a good occasion?

Yeah can't wait, gonna try and get in the clique.

carolt

Excellent! Have a lovely time!

mr.broderick

carolt wrote: »

Excellent! Have a lovely time!

I wanted you to come..
You seem like my type

carolt

Think my husband might be a teeny bit peeved... Thanks anyway.

mr.broderick

carolt wrote: »

Think my husband might be a teeny bit peeved... Thanks anyway.

Lol..Bring him along :rotfl:

carolt

Sorry, otherwise engaged. Have a lovely time, anyway!