2nd home somewhere on the South coast

beingjdc

northernsal wrote: »

If the majority are saying that people shouldn't have a second home what are people like my parents expected to do.

Well, £180k in the bank would give them a good £630 a month net of tax. Knock off the utility and tax bills a second home would bring, and that's £750. Enough for a week in a very nice hotel every month on the south coast, or two long weekends - without putting the money at risk in the way that gambling it on the housing bubble would.

btloptingout

Plenty of great alternatives posted so far:

1) Buy an affordable static mobile home on the coast.
2) Buy a caravan/motorhome and explore the whole of the south in search of future ideal re-location spots.
3) Invest the savings and draw interest allowing long w'end hotel breaks along the coast - again to seek out that ideal retirement spot.
4) Just re-locate! You say locals who can't afford to buy should re-locate....so why can't your parents relocate?

Alternatively they could buy a 2nd home and double up on their lossess they are surely going to incur through the coming correction in the housing market.....but that's a different argument altogether.

PayDay

Becks045 wrote: »

You can still get a nice property for their budget close to the sea and there is still growth in the market for it to increase in value.
SNIP
Another area worth considering would be the East Kent Coast (Margate/Ramsgate and Braodstairs) where there is a lot of regeneration and are pretty towns and have nice beaches.

Wasn't it you who recently posted about your btl property in Margate that you couldn't find a buyer for?

SquatNow

Have posted my "Those now in their 50-80s didn't actually pay very much tax. In fact they paid far FAR less than they should have done the services they received. This was acheived in 4 ways:" speach in the pensions sections.

I fully expect to be flamed, but hopefully it will start a reasoned debate.

Actually I was right the first time, I'll get the fireproof suit now.

http://forums.moneysavingexpert.com/showthread.html?p=7039029#post7039029

Strapped

Pobby, perhaps we are neighbours!

OP, your parents wouldn't get anything around here for that sort of money, but I could do them B&B in the spare room

ruggedtoast

5 years ago a working family on the south coast taking home 30k a year could buy a 3 bed house to live in and make a life. Now thanks to people like the OPs parents they cant even dream. And his parents cant afford a nice second home for 180 grand. My heart bleeds for them.

As someone who grew up in a seaside town and saw it turn into a wasteland of semi occupied retirement bungalows and 4 bedroom houses, occupied by two people once a year, I say they can take their 180k and firmly stick it. And Im being politer than I feel about the situation.

seven-day-weekend

If the OP's parents have saved up £180,000 why on earth should they not spend it on whatever they wish??

I don't know the South Coast well, but Seaford (next to Newhaven) is quite nice.

SquatNow

Methinks you've not read the entire thread.

IveSeenTheLight

dolce_vita wrote: »

but 15 years ago binmen could afford to buy their own home.

But could they 30, 50 or 100 years ago? Probably not.
It seems many people now believe in a right to buy your home rather than having to work damn hard to earn it.
Maybe this is Margaret Thatchers fault when she started the Right to Buy scheme.

If your going to quote history, try looking at the overall history and not just a point in time when it is favourable for your argument

seven-day-weekend

Fifty years ago most people rented.