View Poll Results: Where are you on the property ladder?
I bought my houses to live in, in XX years they'll be mine, don't care what theyr'e worth
42
64.62%
I sold my house/houses in mid 2007 at the peak, i'm waiting to dive back in at the bottom end
5
7.69%
I bought my houses in 06/07 & now they're worth less, want/need to sell & am gonna lose tons!
1
1.54%
I've been ducking and diving non-stop and am still turning a fast £
4
6.15%
None of the above - i just post nonsense to try to wind up SNET
13
20.00%
Voters: 65. You may not vote on this poll
Survey to see where we all are in the property market...
29 June 2009, 06:34 PM
#2
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Well i bought my house from my mother and father at the end of 2007.
I had it valued at around £170,000, and i got it off them for around £95,000
And they only gave around £27,000 for it in 1988
I had it valued at around £170,000, and i got it off them for around £95,000
And they only gave around £27,000 for it in 1988
29 June 2009, 06:46 PM
#3
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Not my department, I just wash the cars.
She, my darling wife pays the mortgage, I dont know how much it is, how much we paid for the house or how long weve got left on it.
She, my darling wife pays the mortgage, I dont know how much it is, how much we paid for the house or how long weve got left on it.
29 June 2009, 07:06 PM
#4
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I purchased 17 houses in 1965 there were all valued at £3500 each I sold them in 2007 at the top end of the market and made a million pounds profit....oh no that wasn't me.
We moved in 2006 and we are in this house for the foreseeable future, we are happy with the village we live in so unless we get repossessed it should be ok lol.
If I had it valued now i imagine we would be down about 15k on the purchase value, but as we are not selling it doesnt really matter, I'll worry when we actually come to sell whenever that is :-)
We moved in 2006 and we are in this house for the foreseeable future, we are happy with the village we live in so unless we get repossessed it should be ok lol.
If I had it valued now i imagine we would be down about 15k on the purchase value, but as we are not selling it doesnt really matter, I'll worry when we actually come to sell whenever that is :-)
29 June 2009, 07:11 PM
#5
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I bought my first place for £127500 at the end of 2006, had it valued a fortnight ago at £125000, happy with that considering the financial turmoil at the mo. Just fixed the mortgage for 4 years so no interest rate worries till 2013
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29 June 2009, 09:39 PM
#11
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Sold in 2006, bought for £67,000, re-wired, new gas c.h. + kitchen and bathroom, full carpets, and sold for £114,000.
Lovely jubbly.
dunx
Obviously a number 2...... pun intended.
Lovely jubbly.
dunx
Obviously a number 2...... pun intended.
29 June 2009, 09:44 PM
#12
Security,4 Holidays a year,no money worries and 3 cars all bought and paid for sounds the better option..
Oh and retirement at 50 in 10 years aint that bad either..
All IMHO of course.
Last edited by fatscoobfella1; 29 June 2009 at 09:46 PM.
30 June 2009, 07:57 AM
#17
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I bought the house I live in now end of 2008 for a very nice price.
Have two other flats, one with a small mortgage and the other with none at all. Actively looking to buy another at the moment.
Have two other flats, one with a small mortgage and the other with none at all. Actively looking to buy another at the moment.
30 June 2009, 09:09 AM
#18
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What? Really?
Paying back over double what I borrowed after 25 years. Always having debt every month? This is sensible?
I took out a reasonable mortgage amount. Didn't borrow my limit, thus enabling me to save `X` amount every month. With Overtime, Bonuses etc, I was able to save a lum sum. So I payed off My mortgage.
Thus.
Saving myself double what I borrowed.
I have no debts at all
Apart from utility bills, pension etc, my wage is mine to spend as I wish.
I can save up and buy/upgrade my property in `X` amount of years for little mortgage or no mortgage at all.
If I lose my job, I won't lose my property.
I must be Mr. Mad, from Madville.
30 June 2009, 09:26 AM
#19
Scooby Regular
Took a punt by knocking £30k off asking price of my house in Oct 2008 (cost £270k), have spent around £25k doing it up (though to be fair, part of that was insurance money due to a burst pipe in January), now worth (according to 2 estate agents) circa £350k. My brother on the other hand who lives 15 miles up the road in South London bought for £480k in 2007, now worth £400k!!!
30 June 2009, 09:28 AM
#20
Scooby Regular
nothing wrong with debt, the whole financial system is based on it
since the dawn of capitalism it has helped people become very very wealthy
if you feel the need to pay of debt (often borrowed at ridiculously low interest rates) feel free
I have borrowed money at under 5% on assets that have risen from 60k to well over a million in the last 15 years
I have 3 to 4 holidays a year, 4 cars, a wife who doesn't need to work and stays at home looking after our 5 children, I could sell up now, and buy my current 4 bed detached house with double garage outright and have more than enought to buy any car car on the market
so i,m not doing too bad
or I could have put all my money into paying off my 250k mortgage that I took out 15 years ago -- with taxed income -- to me thats madness
paying off debt is a mixture of puritanism and a fear of failure
since the dawn of capitalism it has helped people become very very wealthy
if you feel the need to pay of debt (often borrowed at ridiculously low interest rates) feel free
I have borrowed money at under 5% on assets that have risen from 60k to well over a million in the last 15 years
I have 3 to 4 holidays a year, 4 cars, a wife who doesn't need to work and stays at home looking after our 5 children, I could sell up now, and buy my current 4 bed detached house with double garage outright and have more than enought to buy any car car on the market
so i,m not doing too bad
or I could have put all my money into paying off my 250k mortgage that I took out 15 years ago -- with taxed income -- to me thats madness
paying off debt is a mixture of puritanism and a fear of failure
Last edited by hodgy0_2; 30 June 2009 at 09:31 AM.
30 June 2009, 09:44 AM
#21
nothing wrong with debt, the whole financial system is based on it
since the dawn of capitalism it has helped people become very very wealthy
if you feel the need to pay of debt (often borrowed at ridiculously low interest rates) feel free
I have borrowed money at under 5% on assets that have risen from 60k to well over a million in the last 15 years
I have 3 to 4 holidays a year, 4 cars, a wife who doesn't need to work and stays at home looking after our 5 children, I could sell up now, and buy my current 4 bed detached house with double garage outright and have more than enought to buy any car car on the market
so i,m not doing too bad
or I could have put all my money into paying off my 250k mortgage that I took out 15 years ago -- with taxed income -- to me thats madness
paying off debt is a mixture of puritanism and a fear of failure
since the dawn of capitalism it has helped people become very very wealthy
if you feel the need to pay of debt (often borrowed at ridiculously low interest rates) feel free
I have borrowed money at under 5% on assets that have risen from 60k to well over a million in the last 15 years
I have 3 to 4 holidays a year, 4 cars, a wife who doesn't need to work and stays at home looking after our 5 children, I could sell up now, and buy my current 4 bed detached house with double garage outright and have more than enought to buy any car car on the market
so i,m not doing too bad
or I could have put all my money into paying off my 250k mortgage that I took out 15 years ago -- with taxed income -- to me thats madness
paying off debt is a mixture of puritanism and a fear of failure
30 June 2009, 09:58 AM
#22
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Bought my house in 2007 for a £101,000 there ate houses on the housing estate on the Market of £97,000-115,000 which are of a similar size. Realisticly I think(and hope) it's worth about £105,000. 
30 June 2009, 10:15 AM
#24
nothing wrong with debt, the whole financial system is based on it
since the dawn of capitalism it has helped people become very very wealthy
if you feel the need to pay of debt (often borrowed at ridiculously low interest rates) feel free
I have borrowed money at under 5% on assets that have risen from 60k to well over a million in the last 15 years
I have 3 to 4 holidays a year, 4 cars, a wife who doesn't need to work and stays at home looking after our 5 children, I could sell up now, and buy my current 4 bed detached house with double garage outright and have more than enought to buy any car car on the market
so i,m not doing too bad
or I could have put all my money into paying off my 250k mortgage that I took out 15 years ago -- with taxed income -- to me thats madness
paying off debt is a mixture of puritanism and a fear of failure
since the dawn of capitalism it has helped people become very very wealthy
if you feel the need to pay of debt (often borrowed at ridiculously low interest rates) feel free
I have borrowed money at under 5% on assets that have risen from 60k to well over a million in the last 15 years
I have 3 to 4 holidays a year, 4 cars, a wife who doesn't need to work and stays at home looking after our 5 children, I could sell up now, and buy my current 4 bed detached house with double garage outright and have more than enought to buy any car car on the market
so i,m not doing too bad
or I could have put all my money into paying off my 250k mortgage that I took out 15 years ago -- with taxed income -- to me thats madness
paying off debt is a mixture of puritanism and a fear of failure
Its worked for you ,congratulations for having the nads to do it .!!!!
30 June 2009, 10:31 AM
#25
Scooby Regular
What? Really?
Paying back over double what I borrowed after 25 years. Always having debt every month? This is sensible?
I took out a reasonable mortgage amount. Didn't borrow my limit, thus enabling me to save `X` amount every month. With Overtime, Bonuses etc, I was able to save a lum sum. So I payed off My mortgage.
Thus.
Saving myself double what I borrowed.
I have no debts at all
Apart from utility bills, pension etc, my wage is mine to spend as I wish.
I can save up and buy/upgrade my property in `X` amount of years for little mortgage or no mortgage at all.
If I lose my job, I won't lose my property.
I must be Mr. Mad, from Madville.
Paying back over double what I borrowed after 25 years. Always having debt every month? This is sensible?
I took out a reasonable mortgage amount. Didn't borrow my limit, thus enabling me to save `X` amount every month. With Overtime, Bonuses etc, I was able to save a lum sum. So I payed off My mortgage.
Thus.
Saving myself double what I borrowed.
I have no debts at all
Apart from utility bills, pension etc, my wage is mine to spend as I wish.
I can save up and buy/upgrade my property in `X` amount of years for little mortgage or no mortgage at all.
If I lose my job, I won't lose my property.
I must be Mr. Mad, from Madville.
if you ever sell your house, hopefully for a nice fat profit, which is 100% tax free, you mortgage will be paid off anyway,
so why pay it off with taxed income -- the only justification is if you will never sell and are happy with where you live
it a very inefficient way of using money -- that all
thats why the Glazier's didn't buy Man U with any of their own money (they are not stupid plus they prob could not afford it) they did it with debt, raised against the assets of Man U -- Heads they win, tails -- Man U looses (they dont)
Last edited by hodgy0_2; 30 June 2009 at 10:36 AM.
30 June 2009, 11:01 AM
#26
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bought for 43k
worth 150k, mortgate 45k left over 12 years.
im well happy, occaisionally we think of moving but cant be arsed, kids are in the best schools, and we would get something smaller for 190k so, its not worth our while.
think i will wait till kids go, then get a nice bungalow in an affluent area.
(so they cant move back in he he he)
worth 150k, mortgate 45k left over 12 years.
im well happy, occaisionally we think of moving but cant be arsed, kids are in the best schools, and we would get something smaller for 190k so, its not worth our while.
think i will wait till kids go, then get a nice bungalow in an affluent area.
(so they cant move back in he he he)
30 June 2009, 11:32 AM
#29
Scooby Regular
Couple of Questions...
- Realistically you can get maybe 2 or 2.5% interest on cash in the bank yet you'd still say it's preferable to paying off a mortgage with an interest rate of maybe 4 or 5%? Seems strange to me. I think you're case will only work if you've got something better to do with the money, something with a return greater than the borrowed money cost, and since most of us are not international business tycoons it's unlikely.
- Realistically you can get maybe 2 or 2.5% interest on cash in the bank yet you'd still say it's preferable to paying off a mortgage with an interest rate of maybe 4 or 5%? Seems strange to me. I think you're case will only work if you've got something better to do with the money, something with a return greater than the borrowed money cost, and since most of us are not international business tycoons it's unlikely.
- What do you mean 'paying off a mortgage using taxed income'? MIRAS finished years ago, and my savings are deposited using taxed income. Other than the captains of industry on Scoobynet, this is not relevant as most get a paypacket every month with tax deducted at source.
it only works if you believe that house prices outstrip all other forms of investment in the medium and long term, and from my 40 odd years of empirical experience this is true, but hey what the fvck do I know, apart from the fact that with property you are in charge of your investment, you don't pay upfront fees to some sharp suited shyster to "manage" it for you and on your PPR you get 100% tax relief on the capital gain
my parents bought a house in 1972 in West London, which at the time technically they could not afford, i think it cost 8k -- but they worked hard etc etc today ist worth 800k maybe 1.2mil -- that gain of neigh on a million quid is 100% tax free,
Ps if my dad had had is way he would have bought a house in Holland Park, which was on the market then at 15k (now worth 9 million)
