House Prices (1 Viewer)

[mcclunyboy]

simply ridiculous...

the value of most houses in the UK south of Manchester are ridiculous, you would have thought we would have learned from the recession but nope, and it is just going to get worse now we are emerging from it...

Plus this aids the devaluation of the currency..

I am not a home owner, but not because I don't want to be, but because I need to earn a lot to save enough + pay rent before I can buy.

 

[GaryPanic]

While I agree with some of this

if you could geta plot of land - you could build a house for a fraction of the cost (if you did a lot of it yourself.)

Land in Kent (where i am from) is at a premium - purely down to supply and demand- To buy a plot down here costs in excess of 75K and thats postage stamp size -(that is with planning permission)

Land is cheaper in France - and you could build very easliy over there and at a reasonable price -but then they have spare land.....


If you had the money Spain is the palce to buy..

 

[Rich]

Well it's all relative I suppose but my first cottage cost me £1,500, at the very peak just recently it would have been worth £100,000. Ah, the benefit of hindsight!

 

[namliam]

Land is cheaper in France - and you could build very easliy over there and at a reasonable price -but then they have spare land.....


If you had the money Spain is the palce to buy..

The price of land/house on Antarctica is even better, just to bad about the weather AND the commute.

house / land prices are not the root of the current problems, the problems stem from the morgages that were WAY to high to be able to pay for those high prices.

The price of a house is suply and demand, who wants to live in the middle of france without electricity, running water and no phone line? That is not even allowing for the commute on a daily basis to and from your work and/or friends and family...

Just look at the prices of something as basic as SALT, what were they 2 months ago vs what are they now? Supply and demand....

 

[mcclunyboy]

but that house hasn't changed.

I currently earn what they say is an average salary for a graduate. but considering I have no savings, a student loan and need to pay rent. it severly limits my ability to buy a house. I need to save for a 10-20% deposit which is above 10k reasonably. I then need to get a mortgage, easier for me since I live with my fiancee but currently she doesn't have a job and is studying still....

PLUS I am getting married and that uses up all my savings...But that depends on my (our) priorities...The cost of the marraige is the same as a deposit for a house.

Its not easy.

2 of my friends are buying houses (same age as me, 24) and both of them have done so with money from either inheritance or a parents pension. . .

 

[ColinEssex]

Our first house cost £13,000 in 1976 in Sussex. At the time, the possibility of getting a mortgage was remote as they were limited at that time and there was a waiting list.

Fortunately as we had been working in Oz for triple our UK salaries, we had been able to save around 50% of the price which enabled us to get a mortgage.

Our current house in Essex cost £50,000 in 1991 and is now worth £200,000.

I think kids who want to fleece their parents of their savings or pension or whatever need to learn that if you want something you need to work for it. Spending (or wasting) time and money on a useless degree is just irresponsible and typical of todays lazy youths.

Get out there, use your savvy and get a job! There's plenty about if you look, it's just that kids today want it all on a plate and expect Mummy and Daddy to bail them out. Buggered if I would, nobody bailed me out.

(That's assuming there is a Mummy and Daddy - it seems most parents these days are single parents)

Col

 

[mcclunyboy]

Unfortunately for me, my family isn't good with money. i will likely inherit debts so i have to work hard.

I have a low salary but thanks to a new law it is being increased by about 40% so I will gain a nice lump sum from backpay. I could use this on a deposit for a house but instead I will use it to get married.

I was recently told you ideally need a deposit of 15-20% of a house. The flat I currently rent is very nice, in the very North-West of England and is probably valued around £125,000 at most. This is a cheap area of the UK and I would need to save about £17,500 for the deposit (lol same as my budget for the wedding). Again this is ridiculous, after direct debits etc each month i will be lucky to have £300 to spend on food, petrol, etc for 2 people.

It will be only be lottery winners who can buy houses.

EDIT - I will be honest, I did "waste time and money" earning a degree...now I have a job I realise it didn't teach my much.

 

[Alc]

Original post

I currently earn what they say is an average salary for a graduate.

Somewhat typical response

Get out there, use your savvy and get a job! There's plenty about if you look

 

[mcclunyboy]

haven;t mentioned we all need cars as well and they aint cheap...

 

[Alc]

haven;t mentioned we all need cars as well and they aint cheap...

That really does depend on where you live.

The cost of buying somewhere like Greater London is, obviously, much higher than in a lot of other areas, but when I lived there I sold my car. Public transport was so plentiful, there was no need for one.

I get your point, though. In most areas outside cities, you can't rely on buses, trains, etc.

 

[mcclunyboy]

one of my friends lived and worked in Central London for a few years. They earned only a bit above minimum wage but paid £800 a month rent for a TINY flat, one room which served as kitchen/lounge/bedroom....I currently pay £475 a month for a 2 bed spacious flat, even has a dishwasher(i mean an appliance not my fiancee) - I am lucky in that respect

Some things are being done to help 1st time buyers. I see companies like barrat Homes are buying your house from you in part-exchange deals (you will probably get a low offer though). the government is trying to buy and build low cost housing but of course that has its own problems.

 

[Alc]

I worked near Victoria Station, in London, and lived in Purley. The commute, door to door, was a little over 30 minutes (which was shorter than for some colleagues who lived in London and had to cross it during rush hour). My mortgage on a large, one bedroom maisonette was around 800 p/mth, but I got lucky and the place increased in value by 50% in 18 months.

I wouldn't want to be at the bottom of the property ladder at the moment, so you have my sympathies.

 

[mcclunyboy]

I am not too worried. I have no real desire to imediately jump onto it.

Now would be a good time to buy before the market increases again after the recession..ah well cant really help it

 

[Rich]

haven;t mentioned we all need cars as well and they aint cheap...

Why ?

 

[mcclunyboy]

i need one for work...i dont have a nice car and its not economical but i got it cheap (need to transfer insurance to my name as well)

my fiancee needs one for her work and she has one anyway..

I live in a small city but even only 2-3 miles from the centre the buses are every hour, its not regular enough for my needs.


But in general it is easier to have a car. Unless you live inside a city.

 

[namliam]

This is a cheap area of the UK and I would need to save about £17,500 for the deposit (lol same as my budget for the wedding). Again this is ridiculous, after direct debits etc each month i will be lucky to have £300 to spend on food, petrol, etc for 2 people.

Offcourse I only have dutch experience, but my wedding was a "monday morning" wedding... I.e. near 0 cost

Whats the £ to Euro conversion now? 1:1 about? Boy thats a wedding.
Dont think you have much to complain about my friend.

Alternative, live with 10 friends in you current appartment of move back to your parents house. Will save a damn load on rent which you can then save to buy yourself a house.

But no, you need your privacy, so you rent a house with your GF/Wife... and your Fed in more ways than one.

has a dishwasher

Still dont have one, 5 minute job to do the dishes each day.
Use less water and dont have to pay a couple of hundred for the appliance not to speak of the water wasting and "washing liquid" gobbling the thing does.

Doing your own dishes is not only good for the environment its good for the wallet too

I see companies like barrat Homes are buying your house from you in part-exchange deals

Borrowing money costs money, is what all banks and what not must add to their advertizements. Barrat homes though I dont know them are *probably* making some money here

ah well cant really help it

And what are you doing in the weekends/evenings?
Do you have a second/third job like our parents used to have JUST TO PAY THE BILLS?
Nevermind thinking about complaining about not being able to buy a house or a WII or what ever IPod colour is in fashion.

its not regular enough for my needs.

Needs... I had the pleasure of growing up in Amsterdam where PT is frequent and pretty good. But if there is one bus per hour make your needs meet PT instead of trying to reverse it.

You NEED to eat, sleep, breath, drink and a few 'bodily functions' other than that, luxury.

 

[mcclunyboy]

lol...I know I am not in a terrible position

But my point is for them it is even worse.

I have lived in shared accomodation with my fiancee for 4 years. FOllowed by 2 years living at home to save money for a car and renting...

Ironically I complain about these house prices then look at Haiti....

 

[Rich]

i need one for work...i dont have a nice car and its not economical but i got it cheap (need to transfer insurance to my name as well)

my fiancee needs one for her work and she has one anyway..

I live in a small city but even only 2-3 miles from the centre the buses are every hour, its not regular enough for my needs.


But in general it is easier to have a car. Unless you live inside a city.

What's wrong with your legs?

 

[mcclunyboy]

ha, I have a bike if I work in my main site....the other one is a 70mile round trip...lucky for me I get 60p a mile too - one of my better work perks

 

[Rich]

Still dont have one, 5 minute job to do the dishes each day.
Use less water and dont have to pay a couple of hundred for the appliance not to speak of the water wasting and "washing liquid" gobbling the thing does.

Actually my dishwasher use less than water than washing them in the sink and of course I don't have to wash and dry drying towels