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Comments
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How did that work out for you? you have missed out on years of house price inflation and paid a fortune in rent... Genius move!!!
A fortune? We must have different ideas about what constitutes a "fortune"
House price inflation only benefits people who can sell at the right time and find somewhere cheaper to live, other than that it benefits bankers and politicians only. People who have not sold by now are not going to get "what it`s worth" 0 -
Crashy_Time wrote: »At least I managed to sell one, many recent FTB`ers will never manage that, not at "what it`s worth" anyway :rotfl:
And what is the flat you sold in 1996 worth now? 4 times what you sold it for? 5 times? 6?
Just think... you could be mortgage free by now, rather than renting a grotty bedsit flat paying someone else's mortgage, and wondering why you are still single in your late 50s?0 -
And what is the flat you sold in 1996 worth now? 4 times what you sold it for? 5 times? 6?
Just think... you could be mortgage free by now, rather than renting a grotty bedsit flat paying someone else's mortgage, and wondering why you are still single in your late 50s?
Sounds like you have been trying to sell for a lot longer than 8 weeks.......:rotfl:0 -
Crashy_Time wrote: »Sounds like you have been trying to sell for a lot longer than 8 weeks.......:rotfl:
And the person that bought your flat is laughing all the way to the bank... Can you imagine what their reaction to be to find out you sold as you thought prices were going to crash and 20+yrs later the property is worth 5 times what you sold it for and you now rent a bedsit.... and then you tell them you post advising people to do the exact same thing or not to buy putting them at risk of making the same mistake as you?
Thats like falling down a hole that you can't get out of and shouting up to people to jump because you don't want to be alone... I seriously hope over the years nobody has taken your posts seriously and made a huge financial mistake.0 -
And the person that bought your flat is laughing all the way to the bank... Can you imagine what their reaction to be to find out you sold as you thought prices were going to crash and 20+yrs later the property is worth 5 times what you sold it for and you now rent a bedsit.... and then you tell them you post advising people to do the exact same thing or not to buy putting them at risk of making the same mistake as you?
Thats like falling down a hole that you can't get out of and shouting up to people to jump because you don't want to be alone... I seriously hope over the years nobody has taken your posts seriously and made a huge financial mistake.
Where was this mythical flat of mine bought and sold so that it is now worth multiples of it`s original value?0 -
Obviously no one knows, so they are just making stuff up to fit a narrative?0
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Crashy_Time wrote: »Obviously no one knows, so they are just making stuff up to fit a narrative?
Including yourself, one assumes...0 -
It doesn't matter where your flat was, Crashy.
According to Zoopla any Edinburgh property has gone up 240 to 250% over the last 20 years.
Hence eg this 2-bed place in Waverley
https://www.zoopla.co.uk/property-history/5-waverley-place/edinburgh/eh7-5rz/40699216
that Zoopla reckons is worth £200k today would have cost £57k 20 years ago.
You sold up your flat for 28% of its current value. At an average mortgage rate of say 4% over 20 years, you'd have paid £300 a month to own it by now.
Instead you've paid £400 a month to live in an HMO bedsit and own nothing.
Just think. If you'd bought (or kept) such a flat at £57k back then, you would now own the roof over your head, you'd have spent 20 years living in a 2-bed flat rather than a bedsit in an HMO, and you could have saved the monthly £100 difference (£24,000!) as well. You wouldn't have to worry about not being able to sell it because even if you gave it away for £0 you'd still be ahead of where you actually are.
Has renting enabled you to save up more than £224k, Crashy? I doubt it.
Maybe think about that next time you're giving people advice on the biggest transaction of their lives.0 -
westernpromise wrote: »It doesn't matter where your flat was, Crashy.
According to Zoopla any Edinburgh property has gone up 240 to 250% over the last 20 years.
Hence eg this 2-bed place in Waverley
https://www.zoopla.co.uk/property-history/5-waverley-place/edinburgh/eh7-5rz/40699216
that Zoopla reckons is worth £200k today would have cost £57k 20 years ago.
You sold up your flat for 28% of its current value. At an average mortgage rate of say 4% over 20 years, you'd have paid £300 a month to own it by now.
Instead you've paid £400 a month to live in an HMO bedsit and own nothing.
Just think. If you'd bought (or kept) such a flat at £57k back then, you would now own the roof over your head, you'd have spent 20 years living in a 2-bed flat rather than a bedsit in an HMO, and you could have saved the monthly £100 difference (£24,000!) as well. You wouldn't have to worry about not being able to sell it because even if you gave it away for £0 you'd still be ahead of where you actually are.
Has renting enabled you to save up more than £224k, Crashy? I doubt it.
Maybe think about that next time you're giving people advice on the biggest transaction of their lives.
I didn`t own a flat, and it wasn`t in Edinburgh, so you need to re-crunch your numbers (again) :rotfl:0 -
Crashy_Time wrote: »Where was this mythical flat of mine bought and sold so that it is now worth multiples of it`s original value?
You tell us.0
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