Life science - Buy or rent

RobHT

MobileSaver said:

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?

I mentioned these things much before these Youtubers in this forum, in case it wasn't clear.
Precisely, much before I joined this forum too...

The reason why I mentioned them is due to the hilarious development of the understanding in UK, I never though they could make it, who knows what's gonna happen afterwords...
In any case, they are at the edge of it, there is so much to mention, a couple of videos are not enough.

Schwarzwald

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. 

… 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.
….

Anyway, all things I mentioned but I've been crucified in this forum …..
Today I'm free from an unbearable life cost thanks to ME ONLY!

What a genius you seem to be, or at least make yourself believe it, just not sure why you seeking other people’s views on this forum if YOU KNOW EVERYTHING ANYWAY???

RobHT

I was just proving a point, considering that I was jugded as too much stupid on REIT.
Beyond that, I don't really care, in fact I did the exact opposite of what everyone told me, not only in this forum, but in any "super wealth" course".
Discussions are good though, but it doesn't mean that asking a question or making a debate make me follow the wrong path.

MobileSaver

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

RobHT

MobileSaver said:

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

Are you blind, or the mortgage interests didn't increase like crazy?
Did the building quality increase?
Did the salaries increase?
Did the inflation decreased?

What kind of life style are these people living now instead of being free to make a different choice with a rent option?

Plus, among me (the idiot in this forum) and some Youtubers, is it not enough to prove a point? I don't think that all the people that watched those videos are now thinking in the way you think, I mean all the humans have a minimum of IQ.
What else do you need? The bank statements of the broken families?

Note also one thing, only in UK the mortgage monthly payments are higher than rent by a lot, usually, in other countries the rent is considerably higher!
Does it ring the bell?

The life is also now, not after 30y with some appreciation on your REIT investment which is less than the inflation ratio and a stock market investment comparison.
Before than, you've been eating bread and beer only, apparently a typical British meal in hard times, centuries ago...

Just so you know, I'm happy with what I have, I don't think for a second to buy something in UK (as a principle to be precise), I'm certain more than ever before.

YoungBlueEyes

Wow. At least Crashy was always polite…. 

MobileSaver

RobHT said:

MobileSaver said:

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

Plus, among me (the idiot in this forum) and some Youtubers, is it not enough to prove a point?

I am still non the wiser what point you think you have proved?!?!

Can you clarify your point in a single sentence rather than a selection of random disjointed questions?

RobHT said:

What kind of life style are these people living now instead of being free to make a different choice with a rent option?

If you are referring to the people who bought a house two years ago then they are probably living the dream and loving living in their new home.

Most will have fixed their mortgage for at least 5 years at record low rates so will be laughing all the way to the bank.

They will also be sleeping soundly knowing that they can do pretty much whatever they want in their lovely new home and stay there for as long as they want without having to ask their landlord for permission to do either...

RobHT said:

Just so you know, I'm happy with what I have,

You seem to be very angry and stressed for someone who is happy with what they have.

Schwarzwald

MobileSaver said:

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

Are you blind, or the mortgage interests didn't increase like crazy?
Did the building quality increase?
Did the salaries increase?
Did the inflation decreased?

1- no didnt increase like crazy, rather returned to historical norms
2- I bought a 160 years old house so building quality pretty much didnt change in the 2 years since I bought
3- yes, double digit on already (privilidged) relatively high income (plus tax rate decreased)
4- inflation inflation, yes increased, but if your cost base is much lower than your take home and your take home increase at double the rate of inflation, your net absolute savings rate still goes up

you know, it's pretty much a question of how smart you can work and make moves as an individual, even in a difficult market, but you seem to have figured it all out, so am sure you know what to do 

RobHT said:

MobileSaver said:

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

What kind of life style are these people living now instead of being free to make a different choice with a rent option?

My lifestyle, as I bought well within my budget, is pretty good I cant lie, no stress reg mortgage payments and no worries that a landlord wants me out of their house as they want to sell up ... so glad I bought in 2021, feels damn nice to own in London

Schwarzwald

MobileSaver said:

RobHT said:

What kind of life style are these people living now instead of being free to make a different choice with a rent option?

If you are referring to the people who bought a house two years ago then they are probably living the dream and loving living in their new home.

Most will have fixed their mortgage for at least 5 years at record low rates so will be laughing all the way to the bank.

They will also be sleeping soundly knowing that they can do pretty much whatever they want in their lovely new home and stay there for as long as they want without having to ask their landlord for permission to do either...

^^ this !                     

RobHT

Schwarzwald said:

MobileSaver said:

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

Are you blind, or the mortgage interests didn't increase like crazy?
Did the building quality increase?
Did the salaries increase?
Did the inflation decreased?

1- no didnt increase like crazy, rather returned to historical norms
2- I bought a 160 years old house so building quality pretty much didnt change in the 2 years since I bought
3- yes, double digit on already (privilidged) relatively high income (plus tax rate decreased)
4- inflation inflation, yes increased, but if your cost base is much lower than your take home and your take home increase at double the rate of inflation, your net absolute savings rate still goes up

you know, it's pretty much a question of how smart you can work and make moves as an individual, even in a difficult market, but you seem to have figured it all out, so am sure you know what to do 

RobHT said:

MobileSaver said:

RobHT said:

I was just proving a point,

What was the point you were proving?

That two years have passed and you still can't afford the house you want in the area you want, that it's all someone else's fault and two random Youtubers agree with you? Is that the point as I am genuinely confused?

What kind of life style are these people living now instead of being free to make a different choice with a rent option?

My lifestyle, as I bought well within my budget, is pretty good I cant lie, no stress reg mortgage payments and no worries that a landlord wants me out of their house as they want to sell up ... so glad I bought in 2021, feels damn nice to own in London

The mortgage rates are not at historical norms, unless you put down 80% of the value...

Building quality was better, but not that much to be so much happy about it...
What about a possible earthquake? Just saying.

My salary increases constantly (I'm lucky!), but never as the lifecost, so I have a bit less cash in hand at the end of every month.
From next winter, it will be worst.

Yeah, I feel I made all the right choices, I just didn't solve the problem and I thought to post it here.

If you don't have a stressful mortgage, it's only because you've put down a lot of money, which I would never do, it will probably mean that I've put all my eggs in one basket...
If I'm not wrong, you can't even make an equity release on that sum, bad, very bad, and in any case you need to have a mortgage as such, just a few support equity release.
The other scenario is that you have your shoulders covered, lucky you...

I'm glad you enjoy London, I wouldn't, too many criminals and high life cost that doesn't match with the average street guru, so it's a very risky financial bet.
The video above explains what I mean.