Life science - Buy or rent

RobHT

Slithery said:

RobHT said:
If I ever laugh, it's because when I see people instisting that they can afford something in London, instead they are always at 1h distance with the car, or 45 minutes by train, minimum.

So you're saying that no-one lives within an hour of Central London then? I don't believe you.

They do, under heavy debt.
Or they do, sharing with many people, which is not my standard, and I probably understand why you guys say that my standards are too high.

If you want more details, I just need a 2 beds detached house, with a garage and small garden, if I ever find it in the London zone range, it's at least 350k new and low quality or 270k with 20-30y old, which needs a proper reconstruction which costs at least 20k, excluding pipes issues and other expensive things like the roof.

If you don't take 100k, you will struggle with such mortgage, if you ever lose your high pay job, even more, high pay jobs are always short term, or at least not forever!
Most of the people that take the adventure of buying an house with such prices and salaries, usually end up sharing one spare room to some stranger, not really a nice experience, why did they buy the house when it was better to stay dynamic and be able to downsize if necessary...
Plus, don't forget the other wide audience that lose the house and we all pay their debts  

In any case, I have a lot, but still not able to afford safely an house with the requirements I listed, this clarifies the bad situation of the house market here.
Precisely speaking, I can afford such mortgages, but I would be a fool believing that it's the right thing to do.

p00hsticks

canaldumidi said:

What's happened to the old 'discussion' board that seems to have vanished since the forum re-vamp?

It was closed not far into the start of the pandemic as 'they' said it was taking up too much resource to administer.

grumiofoundation

RobHT said:

Slithery said:

RobHT said:
If I ever laugh, it's because when I see people instisting that they can afford something in London, instead they are always at 1h distance with the car, or 45 minutes by train, minimum.

So you're saying that no-one lives within an hour of Central London then? I don't believe you.

They do, under heavy debt.
Or they do, sharing with many people, which is not my standard, and I probably understand why you guys say that my standards are too high.

If you want more details, I just need a 2 beds detached house, with a garage and small garden, if I ever find it in the London zone range, it's at least 350k new and low quality or 270k with 20-30y old, which needs a proper reconstruction which costs at least 20k, excluding pipes issues and other expensive things like the roof.

If you don't take 100k, you will struggle with such mortgage, if you ever lose your high pay job, even more, high pay jobs are always short term, or at least not forever! 
Most of the people that take the adventure of buying an house with such prices and salaries, usually end up sharing one spare room to some stranger, not really a nice experience, why did they buy the house when it was better to stay dynamic and be able to downsize if necessary...
Plus, don't forget the other wide audience that lose the house and we all pay their debts  

In any case, I have a lot, but still not able to afford safely an house with the requirements I listed, this clarifies the bad situation of the house market here.
Precisely speaking, I can afford such mortgages, but I would be a fool believing that it's the right thing to do.

"High pay jobs are always short term" - are they? What does this mean.

Do you have any data that indicates that most people who have a household income of 100k have a lodger?

What is the wide audience that lose the house? And how do I pay the debts of said wide audience?

So to clarify you can afford a house that you want- but. you believe this is too high risk for you (which is your own personal decision of course*). 

*Based on the numbers and 'statistics' you seem to be quoting I would question whether you have actually reached a logical decision. 

jeaniemsm

RobHT said:

Slithery said:

RobHT said:
If I ever laugh, it's because when I see people instisting that they can afford something in London, instead they are always at 1h distance with the car, or 45 minutes by train, minimum.

So you're saying that no-one lives within an hour of Central London then? I don't believe you.

They do, under heavy debt.
Or they do, sharing with many people, which is not my standard, and I probably understand why you guys say that my standards are too high.

If you want more details, I just need a 2 beds detached house, with a garage and small garden, if I ever find it in the London zone range, it's at least 350k new and low quality or 270k with 20-30y old, which needs a proper reconstruction which costs at least 20k, excluding pipes issues and other expensive things like the roof.

If you don't take 100k, you will struggle with such mortgage, if you ever lose your high pay job, even more, high pay jobs are always short term, or at least not forever!
Most of the people that take the adventure of buying an house with such prices and salaries, usually end up sharing one spare room to some stranger, not really a nice experience, why did they buy the house when it was better to stay dynamic and be able to downsize if necessary...
Plus, don't forget the other wide audience that lose the house and we all pay their debts  

In any case, I have a lot, but still not able to afford safely an house with the requirements I listed, this clarifies the bad situation of the house market here.
Precisely speaking, I can afford such mortgages, but I would be a fool believing that it's the right thing to do.

I don't think people are saying you have high standards, it's more unrealistic standards.
London is an expensive city, yet you're looking for a detached house around the £350k mark in central London??? This does not exist.

What % of these home owners take in lodgers that you speak of? Personally I don't know any of my home owner family/ friends that do.
I own my own house in London (35 min tube to central London) with my fiancé, in our early 30s, we don't share the spare room with a stranger.
 
Our mortgage payment each month is about 22% of our combined take home pay and we could cover the full mortgage/ bills/ food individually should one of us lose our job, plus we save about 35% of our take home pay each month so have a good buffer in our account should the worse happen, don't know why people like us make you laugh so much.

Not sure how the general public is liable for my debt should I be unable to pay?

I agree with others that your post is more of a rant rather than asking for advise?

If you're on a low salary you can't expect to afford a big nice house in central London, as harsh as that sounds, it's reality.
I wish my house was bigger, detached, with bigger garden, garage and located in Shoreditch but heyho my salary does not stretch that far so I work with what I have.

Buying and owning your own home is not for everyone and is not something every should look to "achieve".
There is nothing wrong with renting, to each their own

RelievedSheff

RobHT said:

Slithery said:

RobHT said:
If I ever laugh, it's because when I see people instisting that they can afford something in London, instead they are always at 1h distance with the car, or 45 minutes by train, minimum.

So you're saying that no-one lives within an hour of Central London then? I don't believe you.

They do, under heavy debt.
Or they do, sharing with many people, which is not my standard, and I probably understand why you guys say that my standards are too high.

If you want more details, I just need a 2 beds detached house, with a garage and small garden, if I ever find it in the London zone range, it's at least 350k new and low quality or 270k with 20-30y old, which needs a proper reconstruction which costs at least 20k, excluding pipes issues and other expensive things like the roof.

If you don't take 100k, you will struggle with such mortgage, if you ever lose your high pay job, even more, high pay jobs are always short term, or at least not forever!
Most of the people that take the adventure of buying an house with such prices and salaries, usually end up sharing one spare room to some stranger, not really a nice experience, why did they buy the house when it was better to stay dynamic and be able to downsize if necessary...
Plus, don't forget the other wide audience that lose the house and we all pay their debts  

In any case, I have a lot, but still not able to afford safely an house with the requirements I listed, this clarifies the bad situation of the house market here.
Precisely speaking, I can afford such mortgages, but I would be a fool believing that it's the right thing to do.

No you want a 2 bed detached home not need.

There is a big difference between the two.

You not being able to buy a property you want in the location you want doesn't clarify anything about the property market. It clarifies that you don't earn enough to buy what you want where you want. Complaining about it won't change that. In the almost 12 months since you started this thread the only thing that has changed is that house prices have risen and become even more out of reach for you. 

RobHT

RelievedSheff said:

RobHT said:

Slithery said:

RobHT said:
If I ever laugh, it's because when I see people instisting that they can afford something in London, instead they are always at 1h distance with the car, or 45 minutes by train, minimum.

So you're saying that no-one lives within an hour of Central London then? I don't believe you.

They do, under heavy debt.
Or they do, sharing with many people, which is not my standard, and I probably understand why you guys say that my standards are too high.

If you want more details, I just need a 2 beds detached house, with a garage and small garden, if I ever find it in the London zone range, it's at least 350k new and low quality or 270k with 20-30y old, which needs a proper reconstruction which costs at least 20k, excluding pipes issues and other expensive things like the roof.

If you don't take 100k, you will struggle with such mortgage, if you ever lose your high pay job, even more, high pay jobs are always short term, or at least not forever!
Most of the people that take the adventure of buying an house with such prices and salaries, usually end up sharing one spare room to some stranger, not really a nice experience, why did they buy the house when it was better to stay dynamic and be able to downsize if necessary...
Plus, don't forget the other wide audience that lose the house and we all pay their debts  

In any case, I have a lot, but still not able to afford safely an house with the requirements I listed, this clarifies the bad situation of the house market here.
Precisely speaking, I can afford such mortgages, but I would be a fool believing that it's the right thing to do.

No you want a 2 bed detached home not need.

There is a big difference between the two.

You not being able to buy a property you want in the location you want doesn't clarify anything about the property market. It clarifies that you don't earn enough to buy what you want where you want. Complaining about it won't change that. In the almost 12 months since you started this thread the only thing that has changed is that house prices have risen and become even more out of reach for you. 

Hi, I'm replying to this old thread.

What about now?
Did you see the mortgage interests?  
All I mentioned in this forum applied to the UK economy, I didn't make a single mistake since 4y, at least not with my own cash flow.

I'm glad I didn't follow anyone, I was almost certain that no one got a clue of what I was talking about.
Obviously, no one got the point of the low quality build in UK as well.

Though it was interesting to see that more and more people on Youtube are complaining about the same, interesting phenomen, I didn't predict that, but I can probably explain it with the fact the many new development sites have been made ready in bulk after the pandemy, so the issues are coming up like mashrooms , that's the real pandemy in this horrible island.

Also, the funny part about London purchases is incredible, it was explained here: https://www.youtube.com/watch?v=qTJ_uxrR-Cw
At the end, there is a FUNDAMENTAL explanation, don't skip it.
"People moved here because they thought to make more money, so they could pay these expensive accommodations", well, it turned out to be the exact opposite, a huge loss in life quality and fun of any kind, trapped at home is the lifestyle in London.
The rest of the country is not any better though thanks to the mortgage interest rates and the huge maintenance bills...

Anyway, all things I mentioned but I've been crucified in this forum, probably you all work for banks and REIT developers .
Today I'm free from an unbearable life cost thanks to ME ONLY!

propertyrental

Out of interest, did you get the chips in the end?

RobHT

propertyrental said:

Out of interest, did you get the chips in the end?

I've got a better financial situation compared to the 90% of people in mortgage out there.
Chips? I eat healthy, no chips.

I also found this nice guy explaining a tons of the things I mentioned in this forum: https://www.youtube.com/watch?v=rJO68xEfrgU 

I think that the pandemy woke up a bunch of people in this rotted island, good stuff.
That is something I didn't predict, one point less on me .

MobileSaver

RobHT said:

RelievedSheff said:

RobHT said:

Slithery said:

RobHT said:
If I ever laugh, it's because when I see people instisting that they can afford something in London, instead they are always at 1h distance with the car, or 45 minutes by train, minimum.

So you're saying that no-one lives within an hour of Central London then? I don't believe you.

They do, under heavy debt.
Or they do, sharing with many people, which is not my standard, and I probably understand why you guys say that my standards are too high.

If you want more details, I just need a 2 beds detached house, with a garage and small garden, if I ever find it in the London zone range, it's at least 350k new and low quality or 270k with 20-30y old, which needs a proper reconstruction which costs at least 20k, excluding pipes issues and other expensive things like the roof.

If you don't take 100k, you will struggle with such mortgage, if you ever lose your high pay job, even more, high pay jobs are always short term, or at least not forever!
Most of the people that take the adventure of buying an house with such prices and salaries, usually end up sharing one spare room to some stranger, not really a nice experience, why did they buy the house when it was better to stay dynamic and be able to downsize if necessary...
Plus, don't forget the other wide audience that lose the house and we all pay their debts  

In any case, I have a lot, but still not able to afford safely an house with the requirements I listed, this clarifies the bad situation of the house market here.
Precisely speaking, I can afford such mortgages, but I would be a fool believing that it's the right thing to do.

No you want a 2 bed detached home not need.

There is a big difference between the two.

You not being able to buy a property you want in the location you want doesn't clarify anything about the property market. It clarifies that you don't earn enough to buy what you want where you want. Complaining about it won't change that. In the almost 12 months since you started this thread the only thing that has changed is that house prices have risen and become even more out of reach for you. 

Though it was interesting to see that more and more people on Youtube are complaining about the same,

RobHT said:

propertyrental said:

Out of interest, did you get the chips in the end?

I also found this nice guy explaining a tons of the things I mentioned in this forum: https://www.youtube.com

Basing one of the biggest financial decisions of your life on what some random Youtuber said... what could possibly go wrong?

Murphybear

arthurdick said:

Bloody hell, 50K for steak, do you get the chips thrown in with that?

It must be gold plated Wagyu