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bulby_g
Advanced Member
United Kingdom
7,205 posts
Joined: Apr, 2004
430 hardcore releases
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 Posted - 2007/08/09 : 14:39:25
Anyone else having a hard time getting on it? I've been looking for a while now and it's a struggle and a half!
Hoping I've finally found something now, a two bedroom house, where I want (and need) to live that I can purchase on one of them shared ownership dealios. There is other people wanting them though :( Just hope I get picked out the hat or I'll be up the dirt track again. If I do get it I'll be getting a 50% share, paying that off and the doing the rest in 25% shares till I (finally) own the damn thing. It's an absolute joke that a 2 bedroom house is gonna cost me £240'000 though, IMO.
Even on this shared ownership thing I'm gonna be paying out about £600 - £700 a month and that's without council tax, bills etc! How are we supposed to cope?
Anyone else finding it a joke?
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kathryn
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United Kingdom
6,520 posts
Joined: Apr, 2005
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Posted - 2007/08/09 : 14:42:55
whatever you do dont decide to rent.
God this place were in now is a bloody headache £425 a month and needs all sorts doing to it.
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bulby_g
Advanced Member
United Kingdom
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Posted - 2007/08/09 : 14:45:55
No I decided I wouldn't even look at renting, I see it as a waste of money that could be going into a property of my own.
If I get one of these houses it would be brand spanking new so would need minimal upkeep. That's one good thing I guess!
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kathryn
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United Kingdom
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Posted - 2007/08/09 : 14:52:39
Good luck and hope you have some joy on the property market
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bulby_g
Advanced Member
United Kingdom
7,205 posts
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Posted - 2007/08/09 : 14:59:47
quote:
Originally posted by kathryn:
Good luck and hope you have some joy on the property market
Cheers, I think I'll need it ;)
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Jax
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United Kingdom
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Joined: Apr, 2005
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Posted - 2007/08/09 : 15:29:17
There is going to be a drop in house prices in the not so distant future so id hang fire for a while mate, no point buying now while prices are @ their peak. Id prefer to go for something that needs work tbh, as long as you have a room sorted for sleeping and eating you can plod with the rest at your own pace and safe yourself a few pretty ££'s
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Simon
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Belgium
5,001 posts
Joined: Dec, 2001
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Posted - 2007/08/09 : 15:55:39
Yeah renting is like flushing money down the bog really. Although some people rent all their lives.
It's that expensive because you live near me, and yes it is a nightmare. Will probably end up having to move away from the area if I'm honest, totally priced out.
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bulby_g
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United Kingdom
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Posted - 2007/08/09 : 16:01:01
quote:
Originally posted by Jax:
There is going to be a drop in house prices in the not so distant future so id hang fire for a while mate, no point buying now while prices are @ their peak. Id prefer to go for something that needs work tbh, as long as you have a room sorted for sleeping and eating you can plod with the rest at your own pace and safe yourself a few pretty ££'s
But I wouldn't have the spare cash to plod with the rest at my own time ;) It would be pointless 'cus I'd prob' need loans to deal with the upkeep. I think if you take a look at prices in my area this is about £60'000 less that you would normally pay for an old 2 bedroom house anyway! I live in a rural part of Oxfordshire. Think it's because it's *ahem* "affordable housing".
Unfortunately circumstances mean I can't wait till prices go down :( This is probably the only chance I'll get to buy a shared ownership house where I live anyway though, so....
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bulby_g
Advanced Member
United Kingdom
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Posted - 2007/08/09 : 16:04:50
quote:
Originally posted by Simon:
Yeah renting is like flushing money down the bog really. Although some people rent all their lives.
It's that expensive because you live near me, and yes it is a nightmare. Will probably end up having to move away from the area if I'm honest, totally priced out.
Tell me about it! I was thinking the same till I found this. I've got a good job round here though so moving away isn't really an option :s. I'd be even worse off if I moved and lost this job.
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Dexxdemon
New Member
United Kingdom
76 posts
Joined: Jul, 2007
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Posted - 2007/08/09 : 17:20:08
1st off bulby i really do feel for ya, i had the exact same problem 2 1/2 years ago, i was priced out of the area i grew up in, i ended up buying a big 2 bed flat for £40k that needed a bag load of refurb, sounds like 'deal of the century' but im now 25miles away from my hometown(sth glasgow) n my mates and 40 miles away from my work,im between £70 and £100 on petrol A WEEK!!! i strongly believe house prices will at the very least rise by 5% every year(if you're lucky) and this will continue until supply meets demand(which lets be honest will never happen), BUY BUY BUY, even take a look at auctions if u can and u may surprise yourself, if u have a mortgage arranged you are in the unique position of NOT having to sell. As for renting: sounds conveniant, i myself rented for 18 months but believe me u will regret paying someone elses mortgage for them and having F*** all to show at the end of it, i do
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