Really confused about what I want :(

MFWannabe

Crashy_Time said:

Salemicus said:

MFWannabe said:

RelievedSheff said:

I'm starting to think you and Dan could be the same person!!

Must be surely? 

No, I doubt it. Crashy is essentially a troll, Dan seems like a genuine but troubled person.

In all seriousness, threads like this are why I hate Crashy. If he wants to waste his time spouting unfalsifiable nonsense about house prices, I don't really care. But when he comes into threads like this, and gives truly terrible advice to a clearly anxious person, he's doing real damage. And that's why his refusal to make specific predictions about his "house price crash" grate so much. He's very happy to imply to Dan that he'd be overpaying by 50% on that house. But if challenged, Crashy won't predict that house prices in that (or any!) area will fall by any particular amount in any particular timeframe.

It's utterly bogus and irresponsible, and I wish he could be banned.

IMO the house is worth about 80k, that isn`t a prediction it is my opinion. There is a narrative in the financial media at the moment that good news on a vaccine is going to (and is) pushing up bond rates and will feed into higher mortgage rates, so IMO a vaccine means pressure on house prices and no vaccine means pressure (big pressure) on house prices. You have to remember also that the economy was in trouble before Covid. What is irresponsible IMO is egging someone on to buy a frankly pretty basic property at inflated prices that they obviously are nowhere near 100% committed to buying. OP follow your own intuition and maybe tune into some more in depth financial news from time to time rather than follow advice on the internet from people who already have large mortgages or may even be multiple property landlords and are obviously worried about the general economic outlook for their VI.

No one is egging on the OP to buy anything; he asked for advice which was given 
we have all said many times it is his choice; like it’s everyones choice of how and where they live; including yourself. 
As for the comment about large mortgages etc. Nope not me and my property has risen by 30k in the 5 years I’ve owned it, I’m really glad I bought when I did tbh. 👍

Crashy_Time

RelievedSheff said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

MFWannabe said:

danlightbulb said:

theoretica said:
You need to make decisions on things as they are now and with and eye to how they might be in future, not looking to the past.

Yeah I get that but it has significantly moved the goal posts hasn't it. For whatever reason (and there were several), I didn't buy before and now the costs have risen substantially since then. Its not marginal changes, and its significantly altering both my ability to buy and my desire not to get fleeced.

So you’d rather get fleeced by paying rent and someone else’s mortgage 
👏👏👏👏

Rent is a cost, mortgage is a debt, if your landlord`s house drops in value it is unlikely to affect you very much, if your own mortgaged house drops in value (due to buying on the cusp of the biggest recession in decades at bubble prices perhaps?) you are stuck with a debt held against the place you live in, with maybe negative equity and a very illiquid asset that is hard to sell.
Taking out a 160k mortgage debt on a house that should cost 80k isn`t going to make you happy..........playing your piano might make you happy, having enough savings/investments to cover your costs for a few years might make you happy, being happy within yourself might make you happy, but a mortgage at bubble prices with rising mortgage costs? Nah. Hopefully down-valuations and rising mortgage costs are here to stay because that is going to reduce the size of the capital hard working money savers need to borrow going forward.

Mortgage is a debt that decreases and eventually becomes zero.

Rent is a rising cost that you will pay forever.

Mortgage rates are very low at the moment. When mortgage rates were in double figure people still bought and sold houses and house prices still rose. What makes you think anything will be different if rates rise again?

Rent isn`t a rising cost for many people, in fact it is a falling cost, especially so in recessions.

Rent isn't a rising cost?

On what planet are you living?

https://www.telegraph.co.uk/property/renting/londons-rental-market-freefall-putting-tenants-driving-seat/

The OP doesn't live in London and neither do the vast majority of people in the UK yourself and I included!

London equity money has been spread around the UK to inflate smaller property bubbles, there was a poster recently trying to claim that Bristol property wouldn`t be affected by "job losses" because the Tesco and local Hospital would still be open! Statements like that completely fail to comprehend how the UK property bubble was created. On renting, the OP`s rent is already 100 p.m cheaper than his mortgage, and I think the pressure on AirBnB for example will cause even more rental supply and lower rents.
https://inews.co.uk/news/business/airbnb-tax-deal-hosts-hmrc-tax-glare-company-probe-696150

lincroft1710

500th reply!!

Crashy_Time

MFWannabe said:

Crashy_Time said:

Salemicus said:

MFWannabe said:

RelievedSheff said:

I'm starting to think you and Dan could be the same person!!

Must be surely? 

No, I doubt it. Crashy is essentially a troll, Dan seems like a genuine but troubled person.

In all seriousness, threads like this are why I hate Crashy. If he wants to waste his time spouting unfalsifiable nonsense about house prices, I don't really care. But when he comes into threads like this, and gives truly terrible advice to a clearly anxious person, he's doing real damage. And that's why his refusal to make specific predictions about his "house price crash" grate so much. He's very happy to imply to Dan that he'd be overpaying by 50% on that house. But if challenged, Crashy won't predict that house prices in that (or any!) area will fall by any particular amount in any particular timeframe.

It's utterly bogus and irresponsible, and I wish he could be banned.

IMO the house is worth about 80k, that isn`t a prediction it is my opinion. There is a narrative in the financial media at the moment that good news on a vaccine is going to (and is) pushing up bond rates and will feed into higher mortgage rates, so IMO a vaccine means pressure on house prices and no vaccine means pressure (big pressure) on house prices. You have to remember also that the economy was in trouble before Covid. What is irresponsible IMO is egging someone on to buy a frankly pretty basic property at inflated prices that they obviously are nowhere near 100% committed to buying. OP follow your own intuition and maybe tune into some more in depth financial news from time to time rather than follow advice on the internet from people who already have large mortgages or may even be multiple property landlords and are obviously worried about the general economic outlook for their VI.

No one is egging on the OP to buy anything; he asked for advice which was given 
we have all said many times it is his choice; like it’s everyones choice of how and where they live; including yourself. 
As for the comment about large mortgages etc. Nope not me and my property has risen by 30k in the 5 years I’ve owned it, I’m really glad I bought when I did tbh. 👍

I find that unlikely in the event of actually trying to sell it now, the headline stats are skewed up by the small number of very expensive properties that sell and reduced transactions meaning that relying on paper gains isn`t really very sensible, and even if you had it valued a buyer or their bank might disagree.

MFWannabe

Crashy_Time said:

MFWannabe said:

Crashy_Time said:

Salemicus said:

MFWannabe said:

RelievedSheff said:

I'm starting to think you and Dan could be the same person!!

Must be surely? 

No, I doubt it. Crashy is essentially a troll, Dan seems like a genuine but troubled person.

In all seriousness, threads like this are why I hate Crashy. If he wants to waste his time spouting unfalsifiable nonsense about house prices, I don't really care. But when he comes into threads like this, and gives truly terrible advice to a clearly anxious person, he's doing real damage. And that's why his refusal to make specific predictions about his "house price crash" grate so much. He's very happy to imply to Dan that he'd be overpaying by 50% on that house. But if challenged, Crashy won't predict that house prices in that (or any!) area will fall by any particular amount in any particular timeframe.

It's utterly bogus and irresponsible, and I wish he could be banned.

IMO the house is worth about 80k, that isn`t a prediction it is my opinion. There is a narrative in the financial media at the moment that good news on a vaccine is going to (and is) pushing up bond rates and will feed into higher mortgage rates, so IMO a vaccine means pressure on house prices and no vaccine means pressure (big pressure) on house prices. You have to remember also that the economy was in trouble before Covid. What is irresponsible IMO is egging someone on to buy a frankly pretty basic property at inflated prices that they obviously are nowhere near 100% committed to buying. OP follow your own intuition and maybe tune into some more in depth financial news from time to time rather than follow advice on the internet from people who already have large mortgages or may even be multiple property landlords and are obviously worried about the general economic outlook for their VI.

No one is egging on the OP to buy anything; he asked for advice which was given 
we have all said many times it is his choice; like it’s everyones choice of how and where they live; including yourself. 
As for the comment about large mortgages etc. Nope not me and my property has risen by 30k in the 5 years I’ve owned it, I’m really glad I bought when I did tbh. 👍

I find that unlikely in the event of actually trying to sell it now, the headline stats are skewed up by the small number of very expensive properties that sell and reduced transactions meaning that relying on paper gains isn`t really very sensible, and even if you had it valued a buyer or their bank might disagree.

Well you’re wrong. That was the new valuation by the mortgage company when I fixed on a new much cheaper 5 year deal 👌 
And what similar properties in this immediate area have sold for 👍

MFWannabe

My comments are based on facts unlike yours 🤷‍♀️

Crashy_Time

MFWannabe said:

Crashy_Time said:

MFWannabe said:

Crashy_Time said:

Salemicus said:

MFWannabe said:

RelievedSheff said:

I'm starting to think you and Dan could be the same person!!

Must be surely? 

No, I doubt it. Crashy is essentially a troll, Dan seems like a genuine but troubled person.

In all seriousness, threads like this are why I hate Crashy. If he wants to waste his time spouting unfalsifiable nonsense about house prices, I don't really care. But when he comes into threads like this, and gives truly terrible advice to a clearly anxious person, he's doing real damage. And that's why his refusal to make specific predictions about his "house price crash" grate so much. He's very happy to imply to Dan that he'd be overpaying by 50% on that house. But if challenged, Crashy won't predict that house prices in that (or any!) area will fall by any particular amount in any particular timeframe.

It's utterly bogus and irresponsible, and I wish he could be banned.

IMO the house is worth about 80k, that isn`t a prediction it is my opinion. There is a narrative in the financial media at the moment that good news on a vaccine is going to (and is) pushing up bond rates and will feed into higher mortgage rates, so IMO a vaccine means pressure on house prices and no vaccine means pressure (big pressure) on house prices. You have to remember also that the economy was in trouble before Covid. What is irresponsible IMO is egging someone on to buy a frankly pretty basic property at inflated prices that they obviously are nowhere near 100% committed to buying. OP follow your own intuition and maybe tune into some more in depth financial news from time to time rather than follow advice on the internet from people who already have large mortgages or may even be multiple property landlords and are obviously worried about the general economic outlook for their VI.

No one is egging on the OP to buy anything; he asked for advice which was given 
we have all said many times it is his choice; like it’s everyones choice of how and where they live; including yourself. 
As for the comment about large mortgages etc. Nope not me and my property has risen by 30k in the 5 years I’ve owned it, I’m really glad I bought when I did tbh. 👍

I find that unlikely in the event of actually trying to sell it now, the headline stats are skewed up by the small number of very expensive properties that sell and reduced transactions meaning that relying on paper gains isn`t really very sensible, and even if you had it valued a buyer or their bank might disagree.

Well you’re wrong. That was the new valuation by the mortgage company when I fixed on a new much cheaper 5 year deal 👌 
And what similar properties in this immediate area have sold for 👍

Do you have a link to the general postcode area (obviously not your street or house!) so that we can follow it with PropertyLog etc.?

Crashy_Time

MFWannabe said:

My comments are based on facts unlike yours 🤷‍♀️

All that really counts is what a buyer will give you when you want to sell, everything else is just noise.

[Deleted User]

I always wanted to buy with someone, the idea of buying alone didn't spark as much interest for me. 
So I was super picky because I was kind of avoiding the inevitable realisation that I'd end up buying alone. 
I don't know if that's subconsciously what you're doing? 
But I love living alone now and having my own space that's 100% my own. 
If I was you I'd compromise on the taxi/train one & the piano one.
But I guess that's a personal preference! 

Crashy_Time

RelievedSheff said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

MFWannabe said:

danlightbulb said:

theoretica said:
You need to make decisions on things as they are now and with and eye to how they might be in future, not looking to the past.

Yeah I get that but it has significantly moved the goal posts hasn't it. For whatever reason (and there were several), I didn't buy before and now the costs have risen substantially since then. Its not marginal changes, and its significantly altering both my ability to buy and my desire not to get fleeced.

So you’d rather get fleeced by paying rent and someone else’s mortgage 
👏👏👏👏

Rent is a cost, mortgage is a debt, if your landlord`s house drops in value it is unlikely to affect you very much, if your own mortgaged house drops in value (due to buying on the cusp of the biggest recession in decades at bubble prices perhaps?) you are stuck with a debt held against the place you live in, with maybe negative equity and a very illiquid asset that is hard to sell.
Taking out a 160k mortgage debt on a house that should cost 80k isn`t going to make you happy..........playing your piano might make you happy, having enough savings/investments to cover your costs for a few years might make you happy, being happy within yourself might make you happy, but a mortgage at bubble prices with rising mortgage costs? Nah. Hopefully down-valuations and rising mortgage costs are here to stay because that is going to reduce the size of the capital hard working money savers need to borrow going forward.

Mortgage is a debt that decreases and eventually becomes zero.

Rent is a rising cost that you will pay forever.

Mortgage rates are very low at the moment. When mortgage rates were in double figure people still bought and sold houses and house prices still rose. What makes you think anything will be different if rates rise again?

Rent isn`t a rising cost for many people, in fact it is a falling cost, especially so in recessions.

Rent isn't a rising cost?

On what planet are you living?

https://www.telegraph.co.uk/property/renting/londons-rental-market-freefall-putting-tenants-driving-seat/

The OP doesn't live in London and neither do the vast majority of people in the UK yourself and I included!

London is showing us the future though...
https://www.property118.com/sadiq-khan-launches-property-licence-checker-for-tenants/