How has this house gone up so much?

lookstraightahead

Mark_Glasses said:

@herzlos am I really doing better than most? most people I know who are my age are living in houses.

@relieved_sheff the question is why. I saw the prices rocket whilst I was saving a deposit.

@lookstraightahead no, I wouldn't want to live in the countryside and when he told me he'd moved there I thought rather you than me. If my only chance of becoming a millionaire was to spend a few years living in the countryside though I'd do it.

@ramouth I don't really get that video.

Op, I don't just mean live in the countryside, I mean would you change everything about your life for theirs. You can't pick and choose which parts of your life you want or would like to swap because we are all at different junctures for different reasons.

Someone having a bigger house or more money is really not a reason to be envious. Feeling lucky and thankful that you have a roof over your head is a much better way to look at things. 

Somewhere you made reference to a cleaner with no qualifications ... you're making massive assumptions and stereotyping people's lives. I know someone who stacks shelves to support a business he's running so that he can make calculated financial risks. He has a PhD

Herzlos

Mark_Glasses said:

@Herzlos no idea about those I don't know but I'm talking about a wide spread of people such as a cleaner with no qualifications who most likely makes a low wage but bought a house in 2007

2 points here. You don't know about anyone else's circumstances, and does it matter that much? If your happiness is derived from how you are doing relative to others, you will never be happy.

I do get that the property market has gone through the roof lately and people are badly penalized for buying later. I'm about your age and to have gotten my house for a good price I'd have had to buy as a toddler.  It's going to be even worse for young folk who'll find it virtually impossible without help. 

Also, 2007 was a bad year to buy houses - that's when the market crashed. I did and was in about 20% negative equity within the first year. I had a house and looked successful to people that looked but I was trapped and completely broke.

If you were able to travel back to 1997 and buy, you'd have got an incredible deal compared to now. My parents paid about £45k for a house now worth north of £250k. I'll never be able to afford that house. Do I care? Not really, I like the house I've got now. Is it nicer than my peers houses? Nope. Is it more expensive than my peers houses? Nope. Does it house my family comfortably? Absolutely. 

Mark_Glasses

@RelievedSheff if a flat is £275k and a house is £500k that's £50k profit minus costs. If the flat stays at £275k and house goes up to £600k then that's a £50k loss. There's a house across the road that's just been converted into 2 flats. I mention my boss because if he can't afford a £500k house then I won't be able to. I come from Leeds originally and while cheaper than London it's not exactly cheap.

@EssexHebridean no I don't think you're a failure, I know not everyone's life revolves around money like mine does

@Elliott.T123 that 33% would include people who will own a house by the time their my age and people who don't want to own a house

@MeteredOut to make sure the next decision I make is the right one

@lookstraightahead no I wouldn't change everything about my life for theirs. I went to school with the cleaner and he left at 16 with no intention of furthering his education. He might be running a business on the side but I doubt it. He seems happy to just plod through life.

@Herzlos I remember friends getting into negative equity in 2008 and at the time thought I was the sensible one by not buying. Then I found I had to spend years saving a 25% deposit to buy somewhere whilst paying rent at the same time. Then they got out of negative equity, got their mortgages down and move upwards whilst I was only just getting started. I too am bitter about not being born early enough to have bought a property in 1997. The person who I speak of in this friend has shown it is possible for people of our age to make a success of it and that's what I'm trying to do.

MeteredOut

Mark_Glasses said:

@MeteredOut to make sure the next decision I make is the right one

The most recent decision you made was to post to this thread. Has that made any difference to your predicament?

You can't undo the decision you made in your past life, you can only move forward. Until you stop worrying about what others have done, how others have done, what ifs, you'll never be able to move on with your life.

Have you considered therapy? Seriously, i think that's what you're looking for, but I'm not convinced random folk on the internet is the best place to find that.

Herzlos

Mark_Glasses said:

The person who I speak of in this friend has shown it is possible for people of our age to make a success of it and that's what I'm trying to do.

The only way to make a success of it is to get lucky, property values are sort of like gambling in that you can't predict what'll happen and what will make the money. The only thing you can be pretty certain of is that the value will go up *something* over time.

Your acquaintance didn't do anything special to make that kind of growth, and there's nothing you can do to replicate it beyond buying something that someone will want to pay much more for later, and if there was a way to figure that out we'd all be rich.

Or you can redefine "success". I'll just be happy to be mortgage/rent free by the time I retire. If I get the option to downsize and take some money to cruise out my retirement then even better. My neighbours success doesn't even factor into it.

Mark_Glasses

@MeteredOut that wasn't a major decision though. I've made some really bad major decisions and in some ways I'm still suffering the consequences. Even my choice of accommodation in my 2nd year of university but that's a whole other story.

@Herzlos I'm facing the prospect of not being mortgage free by the time I retire because I'll be 65 in less than 25 years time. What I really want is enough money to quite my job because I hate it so much, I dread the thought of having to work that much longer. 

sheramber

What do you want to achieve from this thread?

MeteredOut

sheramber said:

What do you want to achieve from this thread?

I asked that recently. The response was "to make sure the next decision I make is the right one".

I'm not entirely convinced this isn't a wind-up now.

Mark_Glasses

@sheramber what MeteredOut just said

@MeteredOut believe me this is not a wind up. I've just messaged you the property in question. 

sheramber

Nobody here can advise  you what may or may or may not apply in the future to a decision when  you don't know what that will entail'

Will it be buying another house/

Will it be taking another job- which would not be relevant here?

Come back when you need to make that  decision about moving, buying another property etc, and seek advice then.

But only you can decide your future, not strangers on a forum.