Xela Posted June 13, 2019 Share Posted June 13, 2019 11 hours ago, Stevo985 said: My tenants move out on 23rd June. They had started being awkward and stopping viewings etc and moaning about me trying to sell the house even though I'd been way WAY more helpful and patient than I needed to. I gave them their 2 months notice and they immediately gave me their 1 month notice. So they're going and I should have a much better chance of selling the place with it empty. Will be able to take better photographs and have viewings whenever we need to. Downside is I'm facing at least a couple of months without rent to cover the mortgage. Which will be the strain. I'll have to dive into my savings to cover it and then top it up with what I make from the sale. Still quite scary though. You going to buy in Sutton after you sell your property? Or continue to rent? I'm still umming and ahhing about moving.... its very convenient for work where I live (by Four Oaks train station) but I'm feeling the urge to go more rural. Link to comment Share on other sites More sharing options...
Stevo985 Posted June 13, 2019 VT Supporter Share Posted June 13, 2019 52 minutes ago, Xela said: You going to buy in Sutton after you sell your property? Or continue to rent? I'm still umming and ahhing about moving.... its very convenient for work where I live (by Four Oaks train station) but I'm feeling the urge to go more rural. Rent for the moment whilst looking for a house. Probably going to look at Lichfield. Bit cheaper up there. Link to comment Share on other sites More sharing options...
Xela Posted June 13, 2019 Share Posted June 13, 2019 5 minutes ago, Stevo985 said: Rent for the moment whilst looking for a house. Probably going to look at Lichfield. Bit cheaper up there. I like Lichfield. Nice city. Some good boozers there. Shenstone is lovely but vastly overpriced 1 Link to comment Share on other sites More sharing options...
Xela Posted June 23, 2019 Share Posted June 23, 2019 Been thinking about a lot of things... including retirement in the last week or so. Bear with me on this... If you have no dependants and no-one to leave anything to, is there any point in owning a property until the day you die? Lets say if at the age of 55, you have a reasonable pension, quite a lot in savings/investments and a mortgage free property worth £250k-£300k then is there any value in keeping all that money tied up in bricks and mortar? Surely just sell, rent wherever you want and invest the cash into income generating funds? Link to comment Share on other sites More sharing options...
Rugeley Villa Posted June 24, 2019 Share Posted June 24, 2019 10 hours ago, Xela said: Been thinking about a lot of things... including retirement in the last week or so. Bear with me on this... If you have no dependants and no-one to leave anything to, is there any point in owning a property until the day you die? Lets say if at the age of 55, you have a reasonable pension, quite a lot in savings/investments and a mortgage free property worth £250k-£300k then is there any value in keeping all that money tied up in bricks and mortar? Surely just sell, rent wherever you want and invest the cash into income generating funds? I’m not in that position and never will be, but I was only thinking about this the other day. The only reason I’d own a house is to leave it to my kids. What’s the point in having X amount of thousands tied up in a house for no one to benefit from. If I didn’t have kids I’d stay on the council . At least then the rent is cheap and if anything happened where I couldn’t work then my rent gets paid for me. Link to comment Share on other sites More sharing options...
Rugeley Villa Posted June 24, 2019 Share Posted June 24, 2019 Lichfield is well overpriced imo. That’s coming from someone who lives 7 mile up the road in Rugeley though. For people from Sutton, Lichfield is probably well priced. Link to comment Share on other sites More sharing options...
Stevo985 Posted June 24, 2019 VT Supporter Share Posted June 24, 2019 10 hours ago, Xela said: Been thinking about a lot of things... including retirement in the last week or so. Bear with me on this... If you have no dependants and no-one to leave anything to, is there any point in owning a property until the day you die? Lets say if at the age of 55, you have a reasonable pension, quite a lot in savings/investments and a mortgage free property worth £250k-£300k then is there any value in keeping all that money tied up in bricks and mortar? Surely just sell, rent wherever you want and invest the cash into income generating funds? Would it be worth keeping the property, renting wherever you want to live and letting out the property you own? Given house prices are generally going up it's a decent investment and the rent you receive, assuming it's mortgage free, would be a nice bit of pocket money. Not sure you'd find an easy investment that would generate more than that? (Open question, I genuinely don't know) 1 Link to comment Share on other sites More sharing options...
kurtsimonw Posted June 24, 2019 Share Posted June 24, 2019 (edited) I never thought buying without a chain would be such a drag. I'm buying a shared ownership new build in Lichfield, just down the road from where I live. The house I live in isn't being sold, the house I'm moving in to has nobody living in it. Yet it just keeps dragging on and on, I've been given 3 estimated dates now, the first being April the 8th! As someone who will be living on my own for the first time, is there anything I should be aware of when I move in, that I might not have thought of? Edited June 24, 2019 by kurtsimonw Link to comment Share on other sites More sharing options...
AvfcRigo82 Posted June 24, 2019 Share Posted June 24, 2019 41 minutes ago, kurtsimonw said: I never thought buying without a chain would be such a drag. I'm buying a shared ownership new build in Lichfield, just down the road from where I live. The house I live in isn't being sold, the house I'm moving in to has nobody living in it. Yet it just keeps dragging on and on, I've been given 3 estimated dates now, the first being April the 8th! As someone who will be living on my own for the first time, is there anything I should be aware of when I move in, that I might not have thought of? Check out your neighbours first.. Something I always do now from a past experience. 2 Link to comment Share on other sites More sharing options...
Rugeley Villa Posted June 24, 2019 Share Posted June 24, 2019 1 hour ago, kurtsimonw said: I never thought buying without a chain would be such a drag. I'm buying a shared ownership new build in Lichfield, just down the road from where I live. The house I live in isn't being sold, the house I'm moving in to has nobody living in it. Yet it just keeps dragging on and on, I've been given 3 estimated dates now, the first being April the 8th! As someone who will be living on my own for the first time, is there anything I should be aware of when I move in, that I might not have thought of? Is it on that new Miller Homes site? Link to comment Share on other sites More sharing options...
kurtsimonw Posted June 24, 2019 Share Posted June 24, 2019 10 minutes ago, Rugeley Villa said: Is it on that new Miller Homes site? Yeah, the one on Streethay. Link to comment Share on other sites More sharing options...
Rugeley Villa Posted June 24, 2019 Share Posted June 24, 2019 1 minute ago, kurtsimonw said: Yeah, the one on Streethay. Huge housing development that is. Our firm has got the contract for it. I’ve done quite a lot of work on there. Link to comment Share on other sites More sharing options...
imavillan Posted June 24, 2019 Share Posted June 24, 2019 12 hours ago, Xela said: Been thinking about a lot of things... including retirement in the last week or so. Bear with me on this... If you have no dependants and no-one to leave anything to, is there any point in owning a property until the day you die? Lets say if at the age of 55, you have a reasonable pension, quite a lot in savings/investments and a mortgage free property worth £250k-£300k then is there any value in keeping all that money tied up in bricks and mortar? Surely just sell, rent wherever you want and invest the cash into income generating funds? I'm in this position. At the age of 55 i would say keep the house. It will be more valuable to you in the long run. If you keep the house you will have the option of taking equity out through equity release at a later stage. Means you get to stay where you want/like to live. Alternatively you could sell up at a later stage and then rent. Renting has it's positives but a lot of that comes from how good/reliable the landlord is. You could be chopping and changes properties on a regular basis. 1 Link to comment Share on other sites More sharing options...
AVFCDAN Posted June 24, 2019 Share Posted June 24, 2019 2 hours ago, kurtsimonw said: I never thought buying without a chain would be such a drag. I'm buying a shared ownership new build in Lichfield, just down the road from where I live. The house I live in isn't being sold, the house I'm moving in to has nobody living in it. Yet it just keeps dragging on and on, I've been given 3 estimated dates now, the first being April the 8th! As someone who will be living on my own for the first time, is there anything I should be aware of when I move in, that I might not have thought of? Same position as me, shared ownership in Marston Green and yes it couldn't possibly have dragged on any longer than it has! Agents useless, mortgage broker (L + C) useless and solicitors most definitely useless! Have to chase for anything, even the smallest things, chase repeatedly I might add. Nobody ever gives you an update to let you know what they are doing. Almost unbelievable really. I should have my keys in a couple of weeks and my original move in date was early April as well, I wish you all the best. 1 Link to comment Share on other sites More sharing options...
Mic09 Posted June 24, 2019 Share Posted June 24, 2019 1 hour ago, kurtsimonw said: Yeah, the one on Streethay. I'll see you soon neighbour 1 Link to comment Share on other sites More sharing options...
Rodders Posted June 24, 2019 Share Posted June 24, 2019 having accepted an offer on our place two weeks ago, we found a place we want at the weekend, and putting an offer on today. Fingers crossed etc. Solicitors on the selling side of things got off to an inauspicious start, when they called to chase up paperwork I'd already sent at the beginning of last week. They'd already received a letter I'd sent the following day, so it's either the postal service or their in house postal system. Could easily just be one of those unfortunate things, but I'm a tiny bit wary about using them for purchasing as well. 1 Link to comment Share on other sites More sharing options...
kurtsimonw Posted June 24, 2019 Share Posted June 24, 2019 28 minutes ago, AVFCDAN said: Same position as me, shared ownership in Marston Green and yes it couldn't possibly have dragged on any longer than it has! Agents useless, mortgage broker (L + C) useless and solicitors most definitely useless! Have to chase for anything, even the smallest things, chase repeatedly I might add. Nobody ever gives you an update to let you know what they are doing. Almost unbelievable really. I should have my keys in a couple of weeks and my original move in date was early April as well, I wish you all the best. My mortgage advisor and the contact at Orbit have been good to be fair, it's the solicitors on both ends that just don't seem to be very good at all. On the plus side, it's been another couple of months wages I've been able to save so I'll be in a better financial position than I would've been if it moved quickly, so can't complain too much I suppose. Link to comment Share on other sites More sharing options...
Rodders Posted June 26, 2019 Share Posted June 26, 2019 sticking bids in, I hate negotiating. With the market being a bit stagnant locally and the property we're after having already been up for nearly 3 months, we obviously went in under. The property is at the end of our budget so we don't want to pay more than we need to obviously, I mean I suppose that's true of everyone but you get what I mean, every grand, and half grand counts. We've gone in 13k under initially, hoping to keep a counter offer to about 6 or 7 grand under, they've come back and said they're only willing to go under the asking price by 3k. Looking at the general market the house isn't over-valued, indeed there's better value here than where we started and hoped to move to initially so we don't want to flounce off, etc, but does waiting extra days actually make a difference. We're considering going back in with an offer that's 2k less than his counter offer, but dunno if it's better to wait a few days and all that to crap before going back in. Stupidly on the day of the viewing I let slip our rough upper stretch budget before she told us what the house was worth, and then the asking price was surprisingly less than what I thought ( compared to other areas I thought it was going to be another 20 or 30k more and thus definitely out of reach ). The seller had also previously bought the house off of his own company for a much lower market fee - £180k, I assume for some weird tax reason ) Or the other way round his company bought it off him, it sounded a bit weird to me. He'd been renting it out before sticking it on the market. I don't want to overpay, nor really walkaway, and I suppose a matter of 2k sounds a bit daft, but you know, that 2k covers an estate agents fee + change etc. Link to comment Share on other sites More sharing options...
Stevo985 Posted June 27, 2019 VT Supporter Share Posted June 27, 2019 15 hours ago, Rodders said: sticking bids in, I hate negotiating. With the market being a bit stagnant locally and the property we're after having already been up for nearly 3 months, we obviously went in under. The property is at the end of our budget so we don't want to pay more than we need to obviously, I mean I suppose that's true of everyone but you get what I mean, every grand, and half grand counts. We've gone in 13k under initially, hoping to keep a counter offer to about 6 or 7 grand under, they've come back and said they're only willing to go under the asking price by 3k. Looking at the general market the house isn't over-valued, indeed there's better value here than where we started and hoped to move to initially so we don't want to flounce off, etc, but does waiting extra days actually make a difference. We're considering going back in with an offer that's 2k less than his counter offer, but dunno if it's better to wait a few days and all that to crap before going back in. Stupidly on the day of the viewing I let slip our rough upper stretch budget before she told us what the house was worth, and then the asking price was surprisingly less than what I thought ( compared to other areas I thought it was going to be another 20 or 30k more and thus definitely out of reach ). The seller had also previously bought the house off of his own company for a much lower market fee - £180k, I assume for some weird tax reason ) Or the other way round his company bought it off him, it sounded a bit weird to me. He'd been renting it out before sticking it on the market. I don't want to overpay, nor really walkaway, and I suppose a matter of 2k sounds a bit daft, but you know, that 2k covers an estate agents fee + change etc. I think waiting certainly helps. If you immediately go back with a higher offer then they know you're playing a game and have more to offer. If you wait it looks far more genuine that you're trying to readjust your budget or you genuinely can't afford it. If they want to sell and will accept less it will get their bums a bit squeaky. When I bought my house I went under the offer. When they rejected it I went back with a small increase the day after. They rejected it again and I just said to the estate agent "Ok, that's genuinely the top of my budget so I can't offer any more" (which was a lie) They rang me back later that day and accepted the offer. If I hadn't waited I'd have ended up paying more. You might not want to walk away, but if they think you WILL walk away then unless they have loads of offers, it gives you the advantage. 1 Link to comment Share on other sites More sharing options...
Popular Post Rodders Posted June 27, 2019 Popular Post Share Posted June 27, 2019 Ha, we stuck to our guns, and he accepted. Awesome Now for all the admin! 10 Link to comment Share on other sites More sharing options...
Recommended Posts