How much have you lost on your property ?

baileysbattlebus

In our immediate area, I have absolutely no idea, there is nothing for sale in our street or the street behind or the one in front. In the last 10 years in our street there have been 4 house sales and 3 of them were the same house (1 retired, 2 divorcing) it sold for the last time in August of last year for 279k, it's a 3 bed semi.
We have been in our house 14 years or so and apart from our new family no one has been here less than 5 years, out of the 19 houses, 7 houses have been occupied by the same people for between 5 and 14 years, 11 for over 14 years and 1 less than a year. I imagine there are lots of streets like ours up and down the country.
If what everyone is saying on MSE is true, the values may have fallen, but from what to what? The house has never been valued from the day we had our survey done in 1993
Do you mean
1. have you sold for less than the valuation
2. have you sold for less than you paid for it

Neither, we aren't likely to sell for a few years yet - children keep boomeranging - think you've got rid of them all and one comes back.

115K

Benefits_Blagger wrote: »

How do you know? It ain't been sold yet!

I thought your question was how much have I lost on my property? I haven't lost or gained anything as I am not selling my house anyway. I just told you what the local estate agents valued two identical properties a year apart.;)

kay41_2

We bought our house 11 years ago in a very slow market (had been on the market for a year and was a real do-er upper!) and it is now 'worth' 3-4 times what we paid for it - but I believe it is only worth what someone will pay for it! And it ain't sold until the money's in the bank!

Having said that, we have no immediate intention to sell, and actually can't afford the next size house up which will be at least £150-200K more (I mean a 4 bed house with a good sized garden and maybe 3 receptions - or two large receptions)

When we bought this house, the guy we bought it from had done nothing to it in 4 years (it was minging!) and had paid 30K more for it than we did - so over 4 years lost that much. He bought a flat in central London which will by now have rocketed. Our previous property was a flat in a good part of London which we bought for 10K less than the girl we bought it from paid 2.5 years before. She moved into rented accommodation. We lived in it for 4.5 years and sold it for 10K more than we paid for it. Now it is worth approx 7 times what we paid for it 16 years ago - do I wish we'd held onto it? Of course. Was it an option? No - we needed the equity to put a deposit down on the next place.

So far, we have made good moves, we have an affordable mortgage, and it will hopefully be paid off before my DD goes to uni. I'm not smug about it remotely. I feel very sorry for young people now who are unable to afford a mortgage, but my OH and I struggled to buy our first place, it was nearly 50% of our salaries at first and we had second hand, borrowed or cheap furniture for years. We didn't go out much and lived quite frugally and I'm not sure that nowadays young people are prepared to make the same sacrifices. At one point I could not afford new shoes for work and had holes in all my shoes, but we were still able to pay the mortgage.

The_Dangerman

In answer to the original post, I've not lost a penny. In fact healthy wage rises year on year mean I feel better off, despite rising costs of fuel etc. If property really is "crashing" :rolleyes: , then now is the time to put in silly offers and get the home you have always wanted.

1sue23

To be honest I do not care never look at house prices ,my house is a home somewhere warm and cozy I did not buy it to make money ,I have a second property again only purchased for my daughter to live in as she was facing being made homeless with my granddaughter because the rental properties she was in kept on getting sold by greedy landlords to make money, had four homes in 3 years so again just a nice home for my daughter and granddaughter to live in .Me I would love to just live on my narrow boat and that is my long term plan when hubby retires in a few years would do it now if I had my way.

pickles110564

PasturesNew wrote: »

Where's that then?
What sort of jobs?
What is well paid?

Seeing an advert for a job means 1 happy person and 299 with "No thanks" letters. Which you don't see until you're one of the 299. Especially if you are the 1 and mix with other 1s.

Port industry, largest Port in England, posted the wages previously, if you are suitable you will be employed

jamescredmond

neas wrote: »

LOL!

best post ever

agreed!! I had a good laugh at this and sums up the frustration felt about some of the less-informed posts. heh heh!!

Zammo

Since the peak in August 2007 I reckon its down from 190K to about 170K.

Dylanwing

If you dont care then why bother post?

Just pointing out the ridiculous mentality gripping Britain where people seem to care more about £££'s than having a home.
And I don't care if you care that I don't care......:beer:

*Louise*

Not lost anything - prices still the same round here as they were 6 months ago when I bought my house

If prices fall, I don't care - I plan to live here for the next 10 years at least.:D