How has this house gone up so much?

Mark_Glasses

@herzlos I've already been on benefits when I was unemployed and it was only something like £70 a week and would have only lasted 6 months. My bank balance was going down during that period and I was really trying to tighten my spending.

We have friends who go skiing every year and we are always invited to go with them and always decline but say we will go one year when we can afford it. They vary where they go but it's often the Alps. It certainly sounds more appealing than a weekend in a Travelodge in Southend. I'm more into cars than my wife so the Porsche is more something I'd want but she does miss having a car. I sold the car when we first moved to London because we don't need one and is was a tactic for surviving financially in London.

With £1,000,000 I would feel like I've made it and would probably relax a little. I would also quit my job and try and find something more bearable, even the rubbish part time job I did when I was 16 was more enjoyable. 

I know the lottery is just luck and nothing else. However we come from the place and went to the same school and have had the same opportunities and he's managed to become a millionaire and like you say I'm not going to be a millionaire on paper. I find that hard to take.

@RelievedSheff why don't the tenants buy it? Anyone should be able to afford it at that price. Why is it being sold when they're not going to make much money from the sale? There must be something not right about it.

@Elliott.T123  OK you probably won't be reading this then. I think we have moved on in the last 3 months, I have read every reply on here with interest. I do keep myself busy with things, I just make sure most of what I do is things that don't cost any money. My wife does question why I eat the same sandwich for lunch every day when I can afford a more expensive option on occasion. There's 2 things going on here, I have money now but it could easily go tomorrow. 

I understand the need to live your life today because nobody knows how much of it they've got left. I just feel I need some financial stability in order to do that.

The last time I saw this person down the pub I bought him a drink because I wanted to give him the impression I'm richer than I am.

strawb_shortcake

Jealousy and envy are two completely wasted emotions, there will always be people wealthier, healthier and any other positive ideals you wish to add. Similarly, there will also be people looking up to you wishing for a taste of what you have. 

You can have more, you just choose not too in order to build your savings. When it comes to your deathbed I think you are going to be looking back on how much energy you wasted.

Perhaps time for you to watch A Christmas Carol...

Herzlos

Mark_Glasses said:
We have friends who go skiing every year and we are always invited to go with them and always decline but say we will go one year when we can afford it. They vary where they go but it's often the Alps. It certainly sounds more appealing than a weekend in a Travelodge in Southend. I'm more into cars than my wife so the Porsche is more something I'd want but she does miss having a car. I sold the car when we first moved to London because we don't need one and is was a tactic for surviving financially in London.

You're trying to say with a straight face that you turned down skiing trips because you "can't afford them" when you clearly can, in order to save up money so that one day you can go on skiing trips?

Are you also saying that your wife wants a car, and you don't because you're trying to save money so that you can buy an impractical car because you're into cars?

You really need to speak to a therapist, before your wife decides she's had enough.

Go skiing, buy your wife a sensible car (you can buy one outright for what your putting into savings every month), and let her live a little bit even if you want to continue to be miserable.

Mark_Glasses said:

I know the lottery is just luck and nothing else. However we come from the place and went to the same school and have had the same opportunities and he's managed to become a millionaire and like you say I'm not going to be a millionaire on paper. I find that hard to take.

You can't really do anything about the millionaire part. You don't even know if he is - he may have been in huge debt and had to give away a lot of the proceeds.

You can only decide whether to live your life or whether to let it eat you up.

Mark_Glasses said:

I understand the need to live your life today because nobody knows how much of it they've got left. I just feel I need some financial stability in order to do that.

You're in the top 2% of earners, you've got years worth of salary in savings, you can't get any more financially stable.

Mark_Glasses said:
The last time I saw this person down the pub I bought him a drink because I wanted to give him the impression I'm richer than I am.

Mark, you're not "can but a pint in a pub" rich. You're "put more money into savings that most people earn" rich. You're "could buy a brand new Porsche 911 and still have money left rich". If you think you're not rich then you're delusional.

I can assure you he didn't try and assess your financial state based on your ability to buy a pint, even at London prices.

sheramber

I have money now but it could easily go tomorrow. 

Even millionaires lose money.   That £1,000,000  could easily go tomorrow as well.

Elliott.T123

Mark_Glasses said:

We have friends who go skiing every year and we are always invited to go with them and always decline but say we will go one year when we can afford it. They vary where they go but it's often the Alps. It certainly sounds more appealing than a weekend in a Travelodge in Southend. I'm more into cars than my wife so the Porsche is more something I'd want but she does miss having a car. I sold the car when we first moved to London because we don't need one and is was a tactic for surviving financially in London.


@RelievedSheff why don't the tenants buy it? Anyone should be able to afford it at that price. Why is it being sold when they're not going to make much money from the sale? There must be something not right about it.


I understand the need to live your life today because nobody knows how much of it they've got left. I just feel I need some financial stability in order to do that.

Ok I cant resist replying, you've got me!

Mark... YOU CAN AFFORD TO GO SKIING! Honestly, at what point are you going to decide enough is enough?
You have somewhere in the rough region of £100k in the bank and you are saving an extra £20k every year. As Herzlos said, you are putting more into savings every year than a lot of people earn before tax. 

This is where you seem to be slightly blinded by the area you live and the company you keep. Not anyone should be able to afford it at all. There are thousands of people who have huge debt to their name, not enough money to save a penny each month and have absolutely no hope of buying a property in the near future. 

The property is probably being sold because the owner has no interest in living there and doesn't want to be a landlord. The cost of being a landlord vs the income/appreciation isn't worth it and they have decided quality of life is more important than money!

Your final line, you need some financial stability.....

With your salary you earn roughly £42k after tax. If you stopped saving £20k a year you could give up work tomorrow and live off your savings for the next 5 years without getting a new job..... How much more secure than that do you want to be? I would guess there are far less than 1% of people in the country who would be in a position to stop work right now and live 5 years without having to make any lifestyle changes (excluding retirees or those on the brink). Even those you are comparing yourself too I suspect would be struggling after 6 months and looking to sell assets!

YoungBlueEyes

I’ve hesitated saying this in case it comes across as poverty p0rn, but maybe read some of the stories on the debt free wannabe board Mark. Look at the state some people are in (very often through no fault of their own), and then realise how unimaginably wealthy you are in comparison, not just to them but to a lot of people. 

https://forums.moneysavingexpert.com/categories/debt-free-wannabe

Maybe that will give you some perspective.  

sheramber

Once you have got your million and quit the job you detest how will you avoid spending that million to live, go on skiing holidays etc?

hazyjo

Can't believe I've just read prob close to 20 pages of this thread - had wondered why it was still going on lol.

Okay, so we've established you actually probably could buy a house comfortably for £500-600k.

Essex has been mentioned. I've probably mentioned Leigh-on-Sea before on this or one of your previous threads. Still reasonably affordable (compared to London). A lot of those in East London who made money in areas like Hackney, Walthamstow, etc moved out to leafier parts of London/Essex like Chingford, Woodford, etc. A lot of those people who bought there are now moving further out to places like Leigh on Sea. That tends to push up prices. They've been fairly static (compared to other years!) along with other parts of the country recently due to Brexit, Covid, etc, but I still think they have a way to go. I bought in 2017 for £400k-odd and mine's gone up around £100k.

It's been voted the Happiest Place To Live In Britain a couple of times (okay, take that with a pinch of salt, it's hardly scientific, but goes to show people are generally happy with it!).

I reckon (and hope!) that prices won't double every 10 or so years like they used to. But there will always be areas that increase more than others.

I'm not saying L-o-S is up-and-coming, it's pretty much up and come! But lots of semi-celebs are still moving in. A couple of Absolute Radio DJs, I have an old DJ in my road too who you often see interviewed on music programmes. A few others, actors, musicians, artists, etc.

The high street is thriving compared to others. Independent shops. Loads of restaurants and some bars, etc. Okay, some new restaurants will only last a year, but others have been there for decades. It's not Southend, no amusements, and no kiss-me-quick hats!

It gets lots of mentions in newspapers, online features, etc.

Costs me £20 a day to get in and out of London (Fenchurch Street) - works out cheaper if you're in 5 days a week with a yearly travelcard. It's a decent commute. I get a comfortable seat, aircon in summer, heating in winter, catch up with social media, friends, watch netflix, etc. 45mins (ish) each way. It flies by. I'd HATE to have to get a tube - was on one the other night when meeting friends and found it utterly unbearable.

Take the missus one sunny winter day - preferably when the tide's in! Head from the station to Old Leigh - maybe have lunch in The Peterboat (that's where the tourists head!), then walk up to The Broadway, then on to Leigh Road. Walk back down to Chalkwell Station. See what you think.

https://www.c2c-online.co.uk/create-your-day-out/leigh-on-sea-broadway-and-old-leigh/

https://essex.muddystilettos.co.uk/best-places-to-live/essex/leigh-on-sea/

https://www.essexlive.news/news/essex-news/leigh-sea-seaside-town-become-3366679

https://www.thetimes.co.uk/article/why-leigh-on-sea-essex-best-place-to-live-uk-987j7drd5 (I can't access that, but have read it before - you may have a subscription)

You could do a lot worse in trying to find a hotspot which is likely to make you money (and make your friends want to visit!).

[No guarantees lol!]

PS FGS book that skiing trip! There's absolutely no reason for you to skip holiday. You might not be able to ski when you're older. I know my knees wouldn't allow me to ski now lol!

RHemmings

I don't have the time to read 20 pages of this thread, but I think I'm getting the gist from some recent posts. 

This thread makes me feel happy that I moved out of London. As with my job choice and salary I would be 'poor' in London in a not very good property while outside London I can afford a good house and I seriously considered buying a Porsche (second hand Tayman - rejected after I read about the size of the back seat, not the price). 

And, this isn't the only thread that makes me feel that way. 

Jealous of Sheffield House prices though. Maybe I have to move out of Leicester to Sheffield to have a higher standard of living again.

MeteredOut

RHemmings said:

I don't have the time to read 20 pages of this thread, but I think I'm getting the gist from some recent posts. 

This thread makes me feel happy that I moved out of London. As with my job choice and salary I would be 'poor' in London in a not very good property while outside London I can afford a good house and I seriously considered buying a Porsche (second hand Tayman - rejected after I read about the size of the back seat, not the price). 

And, this isn't the only thread that makes me feel that way. 

Jealous of Sheffield House prices though. Maybe I have to move out of Leicester to Sheffield to have a higher standard of living again.

But the OP is not "poor in London". The have a very comfortable standard of living, more than the vast majority of this country, but are seemingly finding it difficult to accept that.