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Comments
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Just about to move in to mine and my partners first home. 2 bed terrace but love the house.
Decided to pay extra for one we would be happy to live in for a long time rather than settle for less just to get on the ladder. Therefore plan on staying for a very long time.
No plan at the moment for children so I imagine we will only move once we have considerable equity which allows us to upgrade to a bigger non-terraced home.0 -
OH and I brought our first house in April 2007. Whooops! It was a 2 bed terraced and was the nicest 'starter home' we could sensibly afford in the area we live in.
We were there for 9 years in total. We'd outgrown it after about 6 and a 1/2 years- but although we talked about moving on we didn't make any serious effort to actually do anything about it (like getting estate agents in to value it etc) until last December.
We're now living 7 miles down the road in a lovely 2 bed detached property with a bigger garden and a proper drive.
After the horrendous, horrendous nearly disastrous time we had with solicitors and estate agents during over our move I don't think we'll ever want to do it again!!!!! I intend to stay where we are for a long as we possibly can!0 -
9 years in January. Desperate to move and now with a joint 100k income but unable to move.
Bought flat with 10% deposit (joint income was about 40k then) - really beautiful place and were FTB - both parents rent so were not to know the problems of trying to sell a property above a commercial property in the future (first to buy in family).
Just fell in love with the place. anyway, fast forward 8 years and want to move to a house and from a pure market forces case the flat is sellable with 25 offers. But the problem is that banks will not provide a mortgage above it (but they did for us)
We were given a mortgage for the property with minimal deposit but the same bank now refuses to lend to new buyers to replace us. One of our buyers asked why they had been refused. The bank said it was due to what the surveyor said. The surveyor said it was because of the banks rules!
The same bank have allowed us to re mortgage on the property (if it is so risky, why?!). But the rules have changed
We have had cash buyers but they have changed mind as they have found elsewhere, had poor solicitors who looked at something on the lease and had a prob with it then advised to pull out (had they actually done the work our solicitor had the paperwork).
Still on market and are taking a drop but it is so depressing because it means we may not have a good deposit for a normal 3 bed in our area.
People we know who lived in a small bog standard flat who bought for less than us have now moved on with a good deposit and due to the rule changes ours is significantly cheaper now than the others in the area.
Fingers crossed we can finally get rid. The whole process of the last 14 months has not been good for either our health, so next time we buy it will be carefully chosen!!0 -
That sounds stressful Old Hat, fingers crossed!
We bought our first property - a one bed flat in Brighton - in 2008 (terrible timing, and I was made redundant six months later) and planned to stay for 2-3 years, but ended up there for over 6 years. Loved it, just could have done with an extra room! Our second property is a 3/4 bedroom terrace and we don't know how long we'll stay. We don't love it, but feel like we need to stay a while to make the horrendous stamp duty worthwhile
LBM Sep 2008 debt: £27,927.04start weight: 140.2, week 2: 1380 -
Ah yes the stamp duty, ours was £10,0000
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We bought this house, new, 44 years next month and are not likely to move anywhere, now....except the dreaded care home.
It's a 3 bed semi and we had meant to upgrade to a nice detached, at some stage, but life doesn't always turn out as you would hope.
About 12 near neighbours, that we know about, have been here for as long or even longer.0 -
Bossypants wrote: »Three years in my first house. I would have stayed but I needed to leave the area for work and personal reasons. I bought a flat, which I've been in my current flat a year and hate, so I have thrown in the towel and am moving again in November, to what I hope will be my forever home.
Why do you hate your current flat?0 -
lcfcstephen wrote: »I have just bought a 2 bed house and like others am planning to move in probably around five years. But depends on factors like children and money. We will definitely move at some point if all goes to plan. And will probably wait at least five years to build up enough equity - especially with getting a help to buy loan to help borrow enough to be able to borrow (despite a sizeable deposit). I would hope that the next house is a 10-15-20 year house if not a forever house, but not sure that will be possibly. Though five years is a long time!
I bet those 5 years will fly by. I remember moving into my second rented flat 5 years ago because we had a terrible winter and I was snowed in for weeks. It seems like yesterday!0 -
chelseablue wrote: »In my house its me, partner and 2 year old son
Me and partner both jostle for the bathroom in the morning to get ready for work now, so when our son is a teenager/adult it'll be 3 people fighting for one bathroom :eek:
Yes, you need at least another toilet, if not an ensuite if you have a family. I am amazed by the number of houses which have 3 large bedrooms but only one bathroom which also contains the only toilet.0 -
9 years in January. Desperate to move and now with a joint 100k income but unable to move.
Bought flat with 10% deposit (joint income was about 40k then) - really beautiful place and were FTB - both parents rent so were not to know the problems of trying to sell a property above a commercial property in the future (first to buy in family).
Just fell in love with the place. anyway, fast forward 8 years and want to move to a house and from a pure market forces case the flat is sellable with 25 offers. But the problem is that banks will not provide a mortgage above it (but they did for us)
We were given a mortgage for the property with minimal deposit but the same bank now refuses to lend to new buyers to replace us. One of our buyers asked why they had been refused. The bank said it was due to what the surveyor said. The surveyor said it was because of the banks rules!
The same bank have allowed us to re mortgage on the property (if it is so risky, why?!). But the rules have changed
We have had cash buyers but they have changed mind as they have found elsewhere, had poor solicitors who looked at something on the lease and had a prob with it then advised to pull out (had they actually done the work our solicitor had the paperwork).
Still on market and are taking a drop but it is so depressing because it means we may not have a good deposit for a normal 3 bed in our area.
People we know who lived in a small bog standard flat who bought for less than us have now moved on with a good deposit and due to the rule changes ours is significantly cheaper now than the others in the area.
Fingers crossed we can finally get rid. The whole process of the last 14 months has not been good for either our health, so next time we buy it will be carefully chosen!!
I remember finding out a few months back that you can't get a mortgage on a property above commercial property. Did you know you also can't mortgage any property with more than one kitchen? Not sure why but I remember reading that. I think it's something to do with two kitchen properties being classed as commercial.
Thanks for taking the time to share your story.0
This discussion has been closed.
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