puppylover
Active Member
38 ?!?!?!?!?!
is it better to buy or rent a house?
- Thread starter stephen
- Start date
russellventilla
Member
puppylover
Active Member
how lovely for you - I should be ready to sell up everything by then so will give you a nod if you need furniture etc for your new pad .......
Morbyd
Moderator
I rented during my younger days and bought when i moved in with my missus.
I bought my first house in 2001 for £34k (spotless two bedroom townhouse and garage in the city centre with a big yard)!!
I feel sorry for those in their mid to late 20s and beyond who are struggling to get a foot on the ladder now when it was so easy less than a decade ago.
However i do think it's always better to buy if you can - if you intend to stay put for the next 3-5 years.
I bought my first house in 2001 for £34k (spotless two bedroom townhouse and garage in the city centre with a big yard)!!
I feel sorry for those in their mid to late 20s and beyond who are struggling to get a foot on the ladder now when it was so easy less than a decade ago.
However i do think it's always better to buy if you can - if you intend to stay put for the next 3-5 years.
weloveliam@space
Active Member
Morbyd
Moderator
I can't believe you could buy a house for that price in 2001! £34k? So cheap!MARKB said:
The house I grew up in, way out in the suburbs, cost twice that much in 1979! Even 10 years ago, £34k wouldn't have gotten you a shack in most of the US... Except maybe out in farm country and poorer areas of the South and West. Or in Detroit.
I think my problem is the 3 places I'd like to own property (central Moscow, west London, southeast Ibiza) have 3 of the most inflated property markets anywhere. Any time I look at the prospect, I realize I'll have to plow much of my savings into the down payment, which means no more cash on hand for a rainy day
I can't believe you could buy a house for that price in 2001! £34k? So cheap!
The house I grew up in, way out in the suburbs, cost twice that much in 1979! Even 10 years ago, £34k wouldn't have gotten you a shack in most of the US... Except maybe out in farm country and poorer areas of the South and West. Or in Detroit.
I think my problem is the 3 places I'd like to own property (central Moscow, west London, southeast Ibiza) have 3 of the most inflated property markets anywhere. Any time I look at the prospect, I realize I'll have to plow much of my savings into the down payment, which means no more cash on hand for a rainy day
I think I know why you mention Detroit...
the BBC broadcast an outstanding doc "requiem for detroit" about the rise/fall of Detroit at the weekend - the scenes of devastation on that are just
stongly recommended viewing although it does unfortunately skip the musical legacy
at the risk of changing the subject
http://www.bbc.co.uk/iplayer/episode/b009372j/Motor_Citys_Burning_Detroit_from_Motown_to_the_Stooges/?order=aztitle%253Aalphabetical&filter=category%253A100006&scope=iplayercategories&start=1&version_pid=b009370c
you can watch this if you're lucky enough to live in rented or bought accommodation in the uk
http://www.bbc.co.uk/iplayer/episode/b009372j/Motor_Citys_Burning_Detroit_from_Motown_to_the_Stooges/?order=aztitle%253Aalphabetical&filter=category%253A100006&scope=iplayercategories&start=1&version_pid=b009370c
you can watch this if you're lucky enough to live in rented or bought accommodation in the uk
agentundercover
Active Member
When we bought for 120k a few years ago, we had a major blow up with the vendor over us proposing a 1k reduction to cover some damp work. They won in the end as we wanted the gaff.
Found out via houseprices.co.uk that they bought it in 2001 for 40k!
Fu Ckers!!!
Morbyd
Moderator
They're trying to push through a plan to raze about a third of the city and turn it into parks.I think I know why you mention Detroit...
the BBC broadcast an outstanding doc "requiem for detroit" about the rise/fall of Detroit at the weekend - the scenes of devastation on that are just
stongly recommended viewing although it does unfortunately skip the musical legacy
I wasn't aware of that BBC doc. A couple of years ago, a friend turned me on to a website called Realtor.com where you could look at US property. The number of houses in Detroit on sale for pocket change was staggering. Only you had to cover the cost of unpaid property taxes... and usually most of the neighboring homes were derelict...
Where I live, they are starting in April where you have to have MINIMUM 20% to get a mortgage...and even though I live in a boring city, it's not cheap!
The reason for the 20% if that too many people were buying places they couldn't afford and only putting done 5-10%. Or getting out loans to use for their downpayments.
I'll probably never be able to afford to buy now!!
The reason for the 20% if that too many people were buying places they couldn't afford and only putting done 5-10%. Or getting out loans to use for their downpayments.
I'll probably never be able to afford to buy now!!
I think I know why you mention Detroit...
the BBC broadcast an outstanding doc "requiem for detroit" about the rise/fall of Detroit at the weekend - the scenes of devastation on that are just
stongly recommended viewing although it does unfortunately skip the musical legacy
doing a Buckley here
http://www.spotlight-forums.com/showthread.php?t=53610&highlight=detroit
I watched it as well. Loved how they started growing their own crops, even though they are incredible poor they are much richer by having 1 acre of land than most ordinary folks in the UK
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doing a Buckley here
http://www.spotlight-forums.com/showthread.php?t=53610&highlight=detroit
I watched it as well. Loved how they started growing their own crops, even though they are incredible poor they are much richer by having 1 acre of land than most ordinary folks in the UK
i remembered that thread too.
i wonder how much those $100 homes, or the land, is worth now.
I can't believe you could buy a house for that price in 2001! £34k? So cheap!
The house I grew up in, way out in the suburbs, cost twice that much in 1979! Even 10 years ago, £34k wouldn't have gotten you a shack in most of the US... Except maybe out in farm country and poorer areas of the South and West. Or in Detroit.
I think my problem is the 3 places I'd like to own property (central Moscow, west London, southeast Ibiza) have 3 of the most inflated property markets anywhere. Any time I look at the prospect, I realize I'll have to plow much of my savings into the down payment, which means no more cash on hand for a rainy day
It was really cheap, but it was the fifth I viewed and they were all the same sort of price range. i sold it 3 years later for £90k!
The banks were literally chucking mortagages at me at the time, the only reason i didn't go for something much bigger was that i was about to leave my job and set up on my own.
Ahh, the halycon days when everything was possible, no-one had heard of the credit crunch, and tommorrow was only ever gonna be better!!!