Browneyedgirl
Active Member
We are trying to buy our first house and it is madness, all we can get for our budget is ex council properties and they are selling for 100k+ is the situation as bad in the rest of Great Britain/Europe??
House prices in the rest of Great Britain
- Thread starter Browneyedgirl
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Buckley
Well-Known Member
Beckiboo said:I want to buy a house in about a year's time, but for what I want (just a half decent little flat in Wanstead area!) you're looking at around the region of £200,000
It's almost impossible for young people nowadays to buy property :x
I just sold a two bedroom (one bedroom is only slightly bigger than a box room though) flat in zone 4/5, 10-15 mins walk to neareast tube, to a mate for £150K and even that was probably £10k+ cheaper than I should have sold it.
Can't see how anyone would manage to buy in their early twenties now. I guess I'd sort a mortgage one way or another, get the biggest place I could and rent rooms to mates.
Browneyedgirl
Active Member
Beckiboo said:I want to buy a house in about a year's time, but for what I want (just a half decent little flat in Wanstead area!) you're looking at around the region of £200,000
It's almost impossible for young people nowadays to buy property :x
OMG that is crazy money for a flat, for about £150,000 we are able to get a decent sized house which i still think is awful.
Our house is worth £200k+, it's a 3 bed victorian terrace in SE London/Kent, zone 4
If I bought the equivalent in the area of Manchester that Im from it would cost approx 2 thirds of that, if i drove 20 mins south to Didsbury (Cold Feet country) a very over-rated & over-priced part of town it would cost about the same as down here....madness.
If I bought the equivalent in the area of Manchester that Im from it would cost approx 2 thirds of that, if i drove 20 mins south to Didsbury (Cold Feet country) a very over-rated & over-priced part of town it would cost about the same as down here....madness.
Buckley
Well-Known Member
x-amount said:
Afraid not X. The friend in question was very lucky with his timing. He decided he wanted it at exactly the same time as I was moving two lads who work for me out of there but hadn't sorted his mortgage. I owed his Dad a big favour (a story for another time - life would have been been very different but for it), so let him have it at what he could afford on conditon he rented from the day the lads moved out to the day of completion.
mambobirdette
Active Member
That was very decent of you Buckley 8)
mambobirdette
Active Member
We can probably get a decent house in B'ham for around 170k or a decent apartment for around the same price.
The apartment that were in at the moment is worth about 200k, however we're renting it, i dread to think of how much we've spent already in rent
The apartment that were in at the moment is worth about 200k, however we're renting it, i dread to think of how much we've spent already in rent
puppylover
Active Member
to be honest ex-council house will be an incredibly sturdy building, probably more so than the lego houses on new estates that are shooting up everywhere these days.....
I paid 35k for a shell of a 2 bed cottage a few years ago but bought it because of the big garden area - got it valued last year at 135k - its ridiculous - I dont think its worth that at all but ......
I agree with you and really feel sorry for anyone these days trying to get their foot on the property ladder, however, are they not some schemes that local authorities are now offering to help young people get a start? I am sure its on some Channel 4 website like location location or something whereby they pay a deposit for you or they own say 40% of your home until such a time you can afford to take on the extra financial burden yourself?
But I could be talking ****e and only dreamt this.....
I paid 35k for a shell of a 2 bed cottage a few years ago but bought it because of the big garden area - got it valued last year at 135k - its ridiculous - I dont think its worth that at all but ......
I agree with you and really feel sorry for anyone these days trying to get their foot on the property ladder, however, are they not some schemes that local authorities are now offering to help young people get a start? I am sure its on some Channel 4 website like location location or something whereby they pay a deposit for you or they own say 40% of your home until such a time you can afford to take on the extra financial burden yourself?
But I could be talking ****e and only dreamt this.....
puppylover said:to be honest ex-council house will be an incredibly sturdy building, probably more so than the lego houses on new estates that are shooting up everywhere these days.....
I paid 35k for a shell of a 2 bed cottage a few years ago but bought it because of the big garden area - got it valued last year at 135k - its ridiculous - I dont think its worth that at all but ......
I agree with you and really feel sorry for anyone these days trying to get their foot on the property ladder, however, are they not some schemes that local authorities are now offering to help young people get a start? I am sure its on some Channel 4 website like location location or something whereby they pay a deposit for you or they own say 40% of your home until such a time you can afford to take on the extra financial burden yourself?
But I could be talking ****e and only dreamt this.....
that's right, the government is planning on buying parts of peoples homes. It's not so you can buy a more expensive house than you might have initially, but so that you can get your foot on the housing ladder. Can't remember the ins and outs of it, if I recall correctly it was announced around election time or something, sure it's full of caveats...
puppylover
Active Member
naddyz said:
Phew - thought it was another of my "puppyworld" dreams.
I only bought a couple of years ago and it's been a serious struggle but from a purely selfish point of view i'm loving the way that house prices are rising in my area right now - i'd never have been able to make the next part of my plan happen if i hadn't been brave enough to take the chance!
You have to take chances to get anywhere these days, some will pay off, some will be monumental ****-ups but sitting still don't get you anywhere.
You have to take chances to get anywhere these days, some will pay off, some will be monumental ****-ups but sitting still don't get you anywhere.
naddyz said:
It's called 'Affordable Housing' - not sure of all the ins and outs but most new developments have a collection of smaller/cheaper houses. This is a good thing as the main development will drag these along with the increase in value.
Council properties can be a good buy, but i would suggest avoiding as i think there will always be a limit to the profit you can make. I think the best times have been and gone for council properties.
There are quite a few scheme's in city centres now involving 1 bedroom or 'studio' apartments (oops, sorry flats!) for the first time buyer. Main downside to these though are lack of parking (and where available - a parking space can cost almost as much as flat) and the lure of constant nightlife draining your pocket.
So yes, it is quite hard to get on the ladder but i would still recommend doing so without hesitation.
Glad i bought my first house when i was 18.
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The difference of houses prices is incredible depending on the region, a nice 2 bedroom flat in the south cost like a parking place in Barcelona We are in a point that a waiter that lives in a village in the south has a much better life level (¿?) than senior engineer in Barcelona, Bilbao or Madrid
It's impossible to buy a decent place in Barcelona for less than 360.000€. We are in a serious danger of a state property crisis that will lead all the country to a big general crisis
We are in a point that a waiter that lives in a village in the south has a much better life level (¿?) than senior engineer in Barcelona, Bilbao or Madrid It's impossible to buy a decent place in Barcelona for less than 360.000€. We are in a serious danger of a state property crisis that will lead all the country to a big general crisis
Drew said:
trouble is, for someone like me, to get a reasonable mortgage I'm going to need 15% deposit - which for a 1 bed is going to work out at 22.5 grand if it's 150k. Completely crazy!!!! That's going to take me years to save up
Only way to get on the ladder whilst you're young is to have parents that can help you or buy with friends, or just have someone die on you. Which is pretty unfair.
Or you can get a 100% mortgage but the rates are pretty bad on those.
