Slight negative equity - jump ship or sit tight?

geoffky

please remember that six months ago all these people were shouting from the rooftops that there would be no house price crash and look how wrong they have been.some of them have disappeared from here but some of them are still around but now saying that its not going to be that bad..i can guaranteed this it is going to get a hell of a lot worse before it gets better...now is the time to avoid debt like the plague not getting more of it...

PasturesNew

geoffky wrote: »

please remember that six months ago all these people were shouting from the rooftops that there would be no house price crash and look how wrong they have been.some of them have disappeared from here but some of them are still around but now saying that its not going to be that bad..i can guaranteed this it is going to get a hell of a lot worse before it gets better...now is the time to avoid debt like the plague not getting more of it...

They were in here ramping it up with "buy, buy, buy". Now we're dealing with the fallout they're suspiciously quiet, never to return most of them I suspect.

lostinrates

mlz1413 wrote: »

I realise a lot of your stuff may have sentimental value, but if you don't have the stuff on show is it really worth keeping? would the memories be enough?

My Mum has recently emigrated and seeing the stuff she threw away/recycled/donated and then seeing the stuff that was important enough to ship overseas made me realise most 'things' are only important because of the memory. But memories are always with you.

The reason our stuff is in storage is because we don't have a house Some was mine from before I was married to DH and a lot is his. He inherited it from his parent and we had to move it from where it was in London and Italy while we are in this state of non-home ownership or long term rental. If we were guaranteed long term (a year or more) rental somewhere we would get it out of storage and use it! or when we buy a house we'll get it back. At that point we'll go through it.

Some stuf we have agreed to sell its pretty unfashionable brown antique furniture that won't make a great price, but the auction house said as we are paying for the containers anyway and this wouldn't clear a whole container, then we migt as well wait as it certainly can't go down in value and it miht go up. Some of the stuff DH likes but I don't, but he has suggested I customise it :eek: demolishing any worth it has but making it so we both like it. I'm not sure is I can do this vandalism yet.

Lots of it are my clothes (some very valuable one off or gifted pieces that I really won't sell and my neices can inherit is I never have a daughter) and lots and lots and lots of books and cds....we want them SO badly but just cant have them. we live:eek: in a small bedroom with a bed taking up half of it, a huge antique chest of drawers and tall boy the rest. Our window sills are stacked high with books. The cats love mountaineering to bed, but I can't take it for much longer.

geoffky

WHEN we buy again the wife and i have also decided that not a thing is going with us from this house we are going to buy all new stuff and the stuff we have here is going to be given away like her leather suite cost us 2.5k but iam determed not a thing is going with us apart from my sit on lawnmower and car.even the clothes will not be along for the ride as if you look in your wardrobe its stuff that is out of sight out of mind. just remembered my laptops will also be coming but we really do want to start off by not filling a new house with tat and stuff that does not pay keep...

pinkshoes

geoffky wrote: »

WHEN we buy again the wife and i have also decided that not a thing is going with us from this house we are going to buy all new stuff and the stuff we have here is going to be given away like her leather suite cost us 2.5k but iam determed not a thing is going with us apart from my sit on lawnmower and car.even the clothes will not be along for the ride as if you look in your wardrobe its stuff that is out of sight out of mind. just remembered my laptops will also be coming but we really do want to start off by not filling a new house with tat and stuff that does not pay keep...

So you're willing to give up your HOME to avoid a drop in equity, and yet you don't mind ditching your old stuff, and buying "all new stuff" which will depreciate very quickly in value?

Isn't that slightly on the contradictory side? Or am I missing something here?

geoffky

pinkshoes wrote: »

So you're willing to give up your HOME to avoid a drop in equity, and yet you don't mind ditching your old stuff, and buying "all new stuff" which will depreciate very quickly in value?

Isn't that slightly on the contradictory side? Or am I missing something here?

you are missing something!!!!! i am not a str

PasturesNew

pinkshoes wrote: »

So you're willing to give up your HOME to avoid a drop in equity, and yet you don't mind ditching your old stuff, and buying "all new stuff" which will depreciate very quickly in value?

Isn't that slightly on the contradictory side? Or am I missing something here?

Yes you're missing things.
1] My stuff was never new, none of it matched, I'd carted it about for 15-20 years.
2] The cost to put the stuff into storage would have been about £1000 and £1000-2000/year in storage probably. And another £1000 to get it out and have it carted to wherever in the country I was living. So, you're looking at £5000-10000 to furnish a house in old tat that had been in storage for a number of years.

Or, spend a lot less than that on new stuff. Once off. Stuff for life.

I did manage to flog a few pieces off before I left, making about £500 too

ixwood

Crossed wire there me thinks.

Geoff. Why are determined to take nothing with you? Seems bizarre. Sell a 2.5k couch (get £100-200 maybe?) and then buy a new one? What are you achieving?

Useless tat fair enough, but why ditch useful stuff that you'll have to replace?

Not very MSE or green.

PasturesNew

ixwood wrote: »

Geoff. Why are determined to take nothing with you? Seems bizarre. Sell a 2.5k coach (get £100-200 maybe?) and then buy a new one? What are you achieving?

Useless tat fair enough, but why ditch useful stuff that you'll have to replace?

Not very MSE or green.

If I had anything like a £2,500 leather couch it'd be for life.

I had 3 sofas: 2 I got from Ikea in 1990/91 for £300 the pair; 1 donated by my parents' neighbour's guesthouse when they upgraded.

I had one double bed: bought for £180 in 1989. And two singles (£200 the pair, bought in 2003)

I had 2 wardrobes: charity shop £20 each

2 chests of drawers: total of £60 spend in Ikea in 1990

I did have a Habitat coffee table I liked, but it could never be used as it was "for best". Weighed a ton. Cost me £70 in 1990/91. I gave that to a woman whose son had burnt everything he earned as he was distressed after the death of his son.

I'd say my entire furnishing of a huge house cost me under £1000 and was mostly second hand.

I'll never be in the disposable income/income bracket that could spend £2,500 on a couch. It'd scare me spending that much on one item.

When I sold, after 7 years, I still hadn't even got rugs/carpets onto all the bare floorboards. And only 3 rooms had curtains still (one lot the last owners had left, one pair I found for £10/pair and another pair I picked up for £5.

It must be lovely to have money and feel the security that enables you to spend freely on nice things. But I would never dare.

ixwood

I think most that do probably buy on tick. Only £30 per month init!

Nice floorboards shouldn't be ruined with carpets IMHO. Carpets are so last millennium.