How much have you lost on your property ?

baileysbattlebus

baby_boomer wrote: »

It'll actually only be a profit if you then decide to rent for the rest of your life.

It'll also be a profit, if like us, your mortgage doesn't have long to run and are planning to relocate. We have a large house in the South East and are planning to take early retirement either to Yorkshire (OH's home) or the North East (my home). We will be able to pay cash for a smaller property and have some money left. No rent. Well that's the theory anyway.

baby_boomer

Fair point.

Although you will only be able to take stock of your profit when you have purchased your retirement pad- not when you sell your current home.

Poppy9

Benefits_Blagger wrote: »

I think a lot people are misuderstanding my thread, I'm not asking how much you have made on your property since you have bought it, but how much you have lost recently.

for years i have heard people saying they have made £xx thousands in the last year on their property, i want to hear about how many £x or £xx thousands you have lost since the market has started going tits up!:j

As I bought my current house in 1995 compared to renting I'm quids in even if my house is worth slightly less than it was 12 months ago. My mortgage costs me just £200 per month and finished in under 2 years time. I couldn't rent a house for that. Whatever I sell for, if prices are high or low, makes no difference as the cost of the next house will have risen/fallen correspondingly.

nelly_2

I bought mine last week for 170
so its probably dropped 3 grand And I dont care

Houses NEED to drop in price we dont need to live in a country where everything is super expensive and everyone is skint


It would be so much better for everyone if we have money left over to enjoy themselves and not be stressed out all the time.

If you go to america you will see what having a great standard of life realy is

barrymoney

there may've been a drop this month but it will have to drop another 18-20% to get back to late '05 prices down in berkshire.

toejumper

bought my house for 35k years ago, so quids in even with a price drop

nelly_2

toejumper wrote: »

bought my house for 35k years ago, so quids in even with a price drop

quids in in what way exactly?

Poppy9

nelly wrote: »

quids in in what way exactly?

he maybe in the position to downsize.

I live in a large 4 bed semi, currently worth about £300k in a very nice area. At the moment 90% of it is equity. I could move to a 4 bed detached new build less than a mile away for about £240k or I could downsize to a 3 bed house for about £200k.

tonydee

cells wrote: »

advised a friend to sell back in feb 2007.

looked around and 190-200k was possible


now he wants to sell, 170k would be a strech.
mostly to do with no one being able to get a mortgage for a flat on the 10th floor :beer:
a year ago that wasnt a problem


so he has lost. 10-15%

And if he does sell, the property he will be buying will have dropped by a similar amount no doubt.

toejumper

nelly wrote: »

quids in in what way exactly?

i have no intension of moving and a very low mortgage, why sell, i have a very large garden and live in a green belt area, new houses dont have gardens like the older houses, the house next door sold for 5 times what i paid for mine, i now which mortgage repayment i would rather have