How much have you lost on your property ?

pickledpink

How can you lose something you've never had?:cool:

Until you SELL and liquidise your money you won't know exactly how much money you've made. And make you do!! It's only a minority who borrowed 100% or 125% to buy an overpriced property that may find themselves in debt, or out of pocket.

The average homebuyer whose had a mortgage for, say, 10 years, and decided to sell this year may find that they'd have got an extra 10/20/30K for it last year - but then the new property they'll be buying will be lower priced too! So it makes no odds!

Depending on the property you're selling, where it is, and how long you've lived there you could make a profit of anything between £20K and £2M!!!!!:beer:

What people tend NOT to do with all that money is throw it away on renting a property!:rotfl: They buy the next home of their dreams..............:p

arthur_dent_2

I have just bought my house at the top of the bubble. I can honestly say that I could get the same price for it tommorrow as I paid several months ago. So I haven't lost or gained anything.

As for the attitude of ner ner ner ner ner, house prices are going to fall, it really isn't very becoming.

Benefits_Blagger

getting reposessed ? selling up your portfolio ? losing money on your rentals ?

come join this thread so we can all share in your misery :-)

michaels

Completed on selling my BTL on Thursday for 60% profit over 28 months - does that help?

Edit - forgot to say interest on 85% purchase price fixed rate mortgage was 40% of gross rental with no voids during the period

chappers

arthur_dent wrote: »

As for the attitude of ner ner ner ner ner, house prices are going to fall, it really isn't very becoming.

Nor does it matter, as long asyou can afford your mortgage and are going to stay put for awhile.

trudiha

chappers wrote: »

Nor does it matter, as long asyou can afford your mortgage and are going to stay put for awhile.

It does matter.

I've just bought a house that originally had an asking price of £215,950. If I'd payed that price, less a 10% deposit, I'd have been shelling out £1231.09 on mortgage payments every month.

The house had been reduced to £209,950 before I viewed it, if I'd paid that price, with a 10% deposit, I'd have been paying a mortgage of £1197.17.

My offer of £193,000 has finally been accepted, with a 10% deposit taken off, that will leave mortgage payments of £1100.25.

In the course of the first year I'll save £1570.08 on mortgage payments in addition to the £220, I'll save in Stamp Duty.

I could have afforded to pay a mortgage for £215k but now I'll be able to afford to live in the same house and, maybe, take a Nelly type holiday as well.

Of course I could have waited until November and saved another 10% on the price but my personal circumstances don't allow for that.

trudiha

And in answer to BB's question, my house has lost £21,950 since it last changed hands at the end of January 2008.

chappers

Well how far do you want to go as you said you could have waited until November, December the end of time?, as I said if it's affordable to you and it's going to be your home, if we all thought there was something better round the corner we would all be sitting here waiting for the perfect day when everything was at it's cheapest and then buy and what good what that do.

guppy

Down £15.99 since last Tuesday - HPC is here! :eek:

chappers

guppy wrote: »

Down £15.99 since last Tuesday - HPC is here! :eek:

I'll have it bargain!!!