2nd home somewhere on the South coast

Woby_Tide

SquatNow wrote: »

I enjoy my life. I drive a convertible sports car.

Off on a tangent...
How does the insurance work with no 'permanent' address out of curiousity? Or can the squat address be used validly(I guess the same could be said of people living in hotels)?

IveSeenTheLight

btloptingout wrote: »

"Hello Mrs Jones, do you mind moving out of my property for the weekend, hubby and me fancy coming down for a long weekend"

So suddenly it's not a "2nd home for holidaying" but an investment? I'm sorry but when does it ever make sense to invest into an asset market at the peak when it's falling? How many initatives have been "for the long haul/my pension init" and ended up changing in 5 years.

Trying to buy something that satisfies all the following: good retirement home, holiday home, BTL investment is unlikely to satisfy any of them well.

No doubt all those FTB'ers who can't afford to buy, but who rent (albeit not when the LL wants a w'end away) will be overjoyed at the following: http://news.bbc.co.uk/1/hi/business/7128308.stm

Another post which has absolutely no relevance at all.
Show me where the OP said their parent would demand access on a whim to the property.

You assume too much my friend.

You keep quoting 5 years and that a loss they would have over this period, but again the facts are the OP stated they planned to retire in 15 years to the property.
Knowhere in history was property prices lowever than they were 15 years previously, even during the big crash in the early 90's.

Try to stick to facts about the threads, it makes for a much better discussion

IveSeenTheLight

GavP wrote: »

Who is asking for anything to be handed on a plate? All people are complaining about is seeing their local communities pushed out by second home owners. But I suppose in this day age that getting rich and enjoying the proceeds is more important than community, right?

Anyway, I think the whole thing's misguided. I'm guessing that most of their £180,000 is not savings but in fact equity in their current home (so not the result of their hard work, but simply a windfall due to rising property prices) which they plan to relesae through a re-mortgage. However, even the more optimistic people in the property sector are expecting property prices to stagnate, and rental yields in the south are pretty poor, so it's unlikely that they'll make much more than they would leaving the cash in a savings account, and if property prices drop then they could see their savings eroded away as their equity declines. If they don't have other provision for their retirment then it's actually a very risky option to take in the current economic climate.

You guess wrong.
The OP has already stated their parents own the property outright (http://forums.moneysavingexpert.com/showpost.html?p=6969545&postcount=20) so like many you are making incorrect assumptions on how hard they work and how they managed to save so much

Regarding expecting everything on a plate, I've read so many posts about how hard it is for FTBer's to get on the property ladder. You guys have to face facts that this is the norm. People in the last 15 years have had it easy, but this is not the norm.

Speak to some of the previous generations (parents or grandparents) and I'm sure they'll explain to you how hard it was to get a mortgage and to own a property.
I believe the current situation is moving back to a time when you have to work damn hard and build up a substantial deposit in order to be able to afford a property.
It's just unfortunate you didn't manage to get on to the ladder at a time when it was easier to get a property.

At the end of the day, if you really want to buy a property, it can be done, many people have done it, many people have benefitted from it.
You just have to get out their and make it happen for you.

btloptingout

IveSeenTheLight wrote:

You assume too much my friend.

You say the OP probably only has the 180,000 due to equity release, but they have stated that their property is mortgage free and they have the money saved up, so where is the MEW you state in your post.

Try to stick to facts about the threads, it makes for a much better discussion

Pardon ....you sir are a prime idiot.
Please do tell me where the MEW is that I mention in my post!

SquatNow

Woby_Tide wrote: »

Off on a tangent...
How does the insurance work with no 'permanent' address out of curiousity? Or can the squat address be used validly(I guess the same could be said of people living in hotels)?

Who said a Squat can't be a permanent address.

If you pick the right house.... i.e. a truelly vacant property, you'll be there for years, possibly indefinately.

IveSeenTheLight

btloptingout wrote: »

Pardon ....you sir are a prime idiot.
Please do tell me where the MEW is that I mention in my post!

Your right, I apologise.
I had mixed up your post with anothers.
I will amend the MEW part

No need to reduce to derogatory remarks though

devons_great

Hi, have a look at the following site that gives details of South Devon Estate agents I think you will find it very useful!

http://www.southdevondirectory.co.uk/south-devon-estate-agents-c45.html

good luck

devons_great

Hi

Try visiting the following web site it lists most of the estate agents in south devon including all their contact details.

just copy and paste onto the top bar

Good luck
http://www.southdevondirectory.co.uk/south-devon-estate-agents-c45.html

Jonbvn

SquidNow has shattered my illusions.

I pictured him as some sort of eco-warrior type with dread-locks, and probably having not seen the inside of a bathroom for some months.

Pez2

IveSeenTheLight wrote: »

You guess wrong.
The OP has already stated their parents own the property outright (http://forums.moneysavingexpert.com/showpost.html?p=6969545&postcount=20) so like many you are making incorrect assumptions on how hard they work and how they managed to save so much

Regarding expecting everything on a plate, I've read so many posts about how hard it is for FTBer's to get on the property ladder. You guys have to face facts that this is the norm. People in the last 15 years have had it easy, but this is not the norm.

Speak to some of the previous generations (parents or grandparents) and I'm sure they'll explain to you how hard it was to get a mortgage and to own a property.
I believe the current situation is moving back to a time when you have to work damn hard and build up a substantial deposit in order to be able to afford a property.
It's just unfortunate you didn't manage to get on to the ladder at a time when it was easier to get a property.

At the end of the day, if you really want to buy a property, it can be done, many people have done it, many people have benefitted from it.
You just have to get out their and make it happen for you.

All that we know is that they've paid off the mortagage on their current property. That doesn't mean that they also have £180,000 saved up. I bet you that some (probably most) of the £180,000 is going to come from from MEWing.

As to the rest of your rant, it's nonsense. My parents' combined salary in the mid-80s was probably less than mine is now in real terms, and they could afford a 3-bed new build on the outskirts of Edinburgh. Such a property would cost something like 7 or 8 times my salary now.

Not that I'm particularly bothered, my circumstances mean that renting suits me and I'm not looking to buy a home for now. It might come as a shock but I don't write out of self-interest or a desire to get something for nothing handed to me on a plate. I don't even live in an area where second home ownership is common (funnily enough, no-one wants a holiday home in sunny Birmingham), so the whole issue is academic to me.

I only respond because I dislike the attitude of "I'm alright, Jack, so sod everyone else" which seems to be getting worse and worse in this country.