Own up. Do you regret it

eurows

Is there anybody here who wishes they had not bought last year in the peak or now thinks they are in negative equity.

Or have you got an IO mortgage and wish you hadn't.

Or have you bought last year and now look at your repayments at the cost of holidays and a life and wish you hadn't.

Truthful answers only please

Happy_saver_4

Why - are you looking for somebody to keep you company

Jake54

Happy_saver wrote:

Why - are you looking for somebody to keep you company

:rotfl: @
'I'm in tears'

asandwhen

I purchased my property in august last year - right at the very peak - BUT it was the best decision of my life - I am happy happy happy - but the main reason is because the council gave me a 50% discount


p.s
My property has not gone up or down since then - I live in hertfordshire.

Plasticman

Happy_saver wrote:

Why - are you looking for somebody to keep you company

Cheeky!!! :rotfl:

trace-j

Yeah we bought in July last year, our mortgage is murder as is variable rate. But the property is now worth more so no risk of negative equity, the seller accepted a lower offer as we were renting. It's stupid to lie about how money you earned to get a genuine self cert mortgage :eek:. We'll ride it out til next year and shop around for a better deal.

meanmachine_2

Trace, I applaud your honesty.

I have a mate who bought in May of last year. I know she's in serious debt, only has an I/O mortgage and thinks that, simply by having the property for a year that it's already gone up by 50K. It hasn't.

It's a mute subject and one we now steer well clear of.

Jake54

'meanmachine'
Your friend!
Did you think that before she purchased the property last may,it was too high?

Dee123_2

I also bought in July last year. There is nothing I really regret but there are a few things that I would have done differently if I had known better at the time (didnt find this site till after!).

My neighbour asked me yesterday if I was planning on moving up the ladder soon. I just looked blankly at him. It is hard enough to have pay bills and have holidays and a social life than I ever expected, but most of my friends spend all their cash on their kids - I dont have that obligation.

I really couldnt call ANYTHING regret. My mortgage payments are less than it would cost to rent the same place. I could rent it out easily if I got into financial difficulties (even with it being in need of updating) which means it would pay for itself almost.

There seem to be so many bitter wanna-owns on this forum who are just itching for the slightest drop in property values or people to complain about how buying is the wrong thing to do. What are they going to do early next year when we see IMO an extremely healthy boom to the lower end of the market?

Spendless

I bought at the peak of the last boom-and was in negative equity within 12 months of ownership. No I never regretted buying. Sure it did create me problems especially when I met hubby and had son and house was too small for 3 of us, but it worked out in end and I eventually sold for a profit.

I was late 20s when I bought, and had had enough of living with my parents. It would have cost me more to have rented-so no no regrets.

FaTB

Dee123 wrote:

What are they going to do early next year when we see IMO an extremely healthy boom to the lower end of the market?

It must be nice in your little world !!

Can you tell me what you base this assumption on ?

The mainstream media is is turning more bearish everyday, unemployment is going up, as is inflation, as will interest rates next year, there is record personal debt, the high street and manufacturing is going into recession, and house prices have been dropping for approximately 1 year now.

Where is the money gonna come from to fuel this new boom ??