Genie Posted March 15, 2022 Share Posted March 15, 2022 We owned a leasehold house once, about 80% of people wouldn’t look at it because of the lease. When we did sell it we had to get a quote to buy the lease and then the buyers bought the house and the lease at the same time. I wouldn’t buy a leasehold house again unless really desperate. 2 Link to comment Share on other sites More sharing options...
Demitri_C Posted March 16, 2022 Share Posted March 16, 2022 I too dont like leases. Stay clear if u can Link to comment Share on other sites More sharing options...
Seat68 Posted March 16, 2022 Share Posted March 16, 2022 My current contract (work) is at a later life mortgage company and they won't lend on leasehold houses. Won't touch them. 1 Link to comment Share on other sites More sharing options...
Genie Posted May 4, 2022 Share Posted May 4, 2022 We’ve had our heads turned by a house on our street. Whilst we’re mostly content with our current house another, much bigger place that’s more suitable for us both WFH has just gone on the market at a good price. Ideally it would be way out of reach financially so a non-starter, but crunching the numbers it’s do-able, but would stretch us a bit. Link to comment Share on other sites More sharing options...
Mister_a Posted May 4, 2022 Share Posted May 4, 2022 1 hour ago, Genie said: We’ve had our heads turned by a house on our street. Whilst we’re mostly content with our current house another, much bigger place that’s more suitable for us both WFH has just gone on the market at a good price. Ideally it would be way out of reach financially so a non-starter, but crunching the numbers it’s do-able, but would stretch us a bit. How would your calculations look if interest rates jumped up a few percent? 1 Link to comment Share on other sites More sharing options...
Genie Posted May 4, 2022 Share Posted May 4, 2022 2 minutes ago, Mister_a said: How would your calculations look if interest rates jumped up a few percent? Yeah, that’s the risk. I’m locked in for about 4 more years but beyond that i’d be hoping my wages had gone up to take the sting out of any potential new rates 1 Link to comment Share on other sites More sharing options...
Demitri_C Posted May 4, 2022 Share Posted May 4, 2022 1 hour ago, Genie said: We’ve had our heads turned by a house on our street. Whilst we’re mostly content with our current house another, much bigger place that’s more suitable for us both WFH has just gone on the market at a good price. Ideally it would be way out of reach financially so a non-starter, but crunching the numbers it’s do-able, but would stretch us a bit. Maybe your house has gone up a significant amount too. Have you git it valued? Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted May 4, 2022 Share Posted May 4, 2022 House prices are still doing silly things. A neighbours of my parents sold for £280k before Christmas. It fell through and they took it off the market. It went back for sale recently and sold for £350k to a cash buyer. 1 Link to comment Share on other sites More sharing options...
Genie Posted May 4, 2022 Share Posted May 4, 2022 2 minutes ago, Demitri_C said: Maybe your house has gone up a significant amount too. Have you git it valued? Yeah, I have a pretty good idea. Part of the temptation is that I really think this other house is well/under priced. Link to comment Share on other sites More sharing options...
Demitri_C Posted May 4, 2022 Share Posted May 4, 2022 1 minute ago, AlwaysAVFC said: House prices are still doing silly things. A neighbours of my parents sold for £280k before Christmas. It fell through and they took it off the market. It went back for sale recently and sold for £350k to a cash buyer. There was a house down my road that was a complete shit hole was up for 525 didnt sell took it off went back up at 575k recently and sold straight away at more than the 575k they wanted. The markets crazy Link to comment Share on other sites More sharing options...
Demitri_C Posted May 4, 2022 Share Posted May 4, 2022 Just now, Genie said: Yeah, I have a pretty good idea. Part of the temptation is that I really think this other house is well/under priced. Id go for it if i was you in that basis as long as you have worked out it wont get you in financial trouble. I paid abit extra than what i wanted but was one of the best decisions ive made. 1 Link to comment Share on other sites More sharing options...
Stevo985 Posted May 4, 2022 VT Supporter Share Posted May 4, 2022 Sold my house a couple of years ago as was expecting a dip once Brexit was finally pushed through. Massively regretting it now. I've invested a lot of the money so I've made a bit, but I'm too scared to check what similar houses are going for in the area. Link to comment Share on other sites More sharing options...
Demitri_C Posted May 4, 2022 Share Posted May 4, 2022 10 minutes ago, Stevo985 said: Sold my house a couple of years ago as was expecting a dip once Brexit was finally pushed through. Massively regretting it now. I've invested a lot of the money so I've made a bit, but I'm too scared to check what similar houses are going for in the area. Why did you regret it out of interest? With the dip it was widely expected but never really happened. The stamp duty holiday was the reason id imagine Link to comment Share on other sites More sharing options...
Mister_a Posted May 4, 2022 Share Posted May 4, 2022 I would say that the best time to buy a house is as soon as possible, as they seem to be escalating in price alarmingly. 2 Link to comment Share on other sites More sharing options...
Stevo985 Posted May 4, 2022 VT Supporter Share Posted May 4, 2022 1 hour ago, Demitri_C said: Why did you regret it out of interest? Because prices have gone up massively so if I still had it it would be worth more Link to comment Share on other sites More sharing options...
Demitri_C Posted May 4, 2022 Share Posted May 4, 2022 2 minutes ago, Stevo985 said: Because prices have gone up massively so if I still had it it would be worth more You probably would have paid more though as well Link to comment Share on other sites More sharing options...
Stevo985 Posted May 4, 2022 VT Supporter Share Posted May 4, 2022 2 hours ago, Demitri_C said: You probably would have paid more though as well I haven’t bought anywhere. That’s the issue Link to comment Share on other sites More sharing options...
villaglint Posted May 4, 2022 Share Posted May 4, 2022 2 hours ago, Stevo985 said: Because prices have gone up massively so if I still had it it would be worth more Might have been a truly terrible decision. Dont know what prices are doing in Birmingham but down south its been mental. Almost exactly a year ago we had our house on the market - we got 5 offers on the first day it went on the market for approx £25k over asking. It was £525k and would have been broken the road "ceiling" by a distance at the time. We didnt end up going through with it at the end as we got outbid on the one we wanted. Fast forward 12 months and three house on our road almost identical to ours have sold in the last few months for wait for it......... £725, £700k and £695k. Absolutley bonkers. Sounds like great news but its actually terrible because all ones we want to buy have of course gone up loads too. Link to comment Share on other sites More sharing options...
Stevo985 Posted May 4, 2022 VT Supporter Share Posted May 4, 2022 (edited) Yep. I nearly bought a house, but then the pandemic happened. And then my life fell apart. Now the houses I was looking at for 350-400k are 450-500k, whereas my deposit has grown by about 5% Edited May 4, 2022 by Stevo985 Link to comment Share on other sites More sharing options...
Genie Posted May 4, 2022 Share Posted May 4, 2022 2 minutes ago, villaglint said: Might have been a truly terrible decision. Dont know what prices are doing in Birmingham but down south its been mental. Almost exactly a year ago we had our house on the market - we got 5 offers on the first day it went on the market for approx £25k over asking. It was £525k and would have been broken the road "ceiling" by a distance at the time. We didnt end up going through with it at the end as we got outbid on the one we wanted. Fast forward 12 months and three house on our road almost identical to ours have sold in the last few months for wait for it......... £725, £700k and £695k. Absolutley bonkers. Sounds like great news but its actually terrible because all ones we want to buy have of course gone up loads too. You’ll have to take the money and move to a cheaper area around capitalise. Link to comment Share on other sites More sharing options...
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