[Finance] I'm never going to buy my own house am I?

[Justice]

You need to set up your own business get the grants and stop pissing about helping other people achieve their dreams. You’ve already said your bosses are the ones buying houses and flash cars let that be you.

Put the home buying off for now it’s a risky time anyway, invest in you make a shed load of money and never look back. Don’t waste your life wishing what you could have live for the now.

And seriously mate you are so young how you gonna make your million pound company lying dead at the bottom a cliff don’t be a f.uck wit, change your world and you and your family will be fine.

 

[ALBION28]

I live up north and I have to say you should not dismiss it as an option. Plenty of Seagull supporters too. Life, if you have a job, is really very good baring lockdown. Property ranges from £50,000 for a terrace house to millions if you are lucky enough to have the money.

 

[Live by the sea]

Lots of very cheap northern towns that once relied on coal mining . Terraces from £50,000 ! The downside is you have to live in a quite depressing impoverished area . The Places up north that are super cheap are because no one wants to live there !

 

[zefarelly]

I did things differently but never thought I'd get on the property ladder until I did.

a mate has recently (2 years ago) given up on Hove, got his first 'owned' house and mortgage with wife and young daughter . . .. moved to West Worthing to do it. settled and happy. . . . he's 50 this year. You can do it Spongey. you'll just need to move a bit . . . BH isn't all that anyway

 

[Deleted member 22389]

I live up north and I have to say you should not dismiss it as an option. Plenty of Seagull supporters too. Life, if you have a job, is really very good baring lockdown. Property ranges from £50,000 for a terrace house to millions if you are lucky enough to have the money.

House prices in the South are certainly a massive rip off. Every now and then, and out of interest I look at Right Move for properties up North. I'm amazed at what we could get if we sold up down here.

I would never move up North, but like you say it's an option for those who cant afford to get on the property ladder down here.

 

[Gwylan]

House prices in the South are certainly a massive rip off

They're really not. There are plenty of rip-offs in the UK but house prices genuinely reflect demand - more people want to live down south and prices reflect that

I would never move up North

QED

 

[Deleted member 22389]

They're really not. There are plenty of rip-offs in the UK but house prices genuinely reflect demand - more people want to live down south and prices reflect that



QED

For first time buyers it's impossible, that's what I'm saying.

 

[DJ NOBO]

I did things differently but never thought I'd get on the property ladder until I did.

a mate has recently (2 years ago) given up on Hove, got his first 'owned' house and mortgage with wife and young daughter . . .. moved to West Worthing to do it. settled and happy. . . . he's 50 this year. You can do it Spongey. you'll just need to move a bit . . . BH isn't all that anyway

Being flexible with where you live is the key.
Buying a house in a town full of cider-drinking racist small-minded inbreds was the best thing I ever did.

 

[Justice]

Bring back self cert mortgages and get the housing market moving again.

 

[Tom Hark Preston Park]

Bring back self cert mortgages and get the housing market moving again.

Because that will end well

 

[zefarelly]

If only they would flog off some council houses cheap.

Oh, there aren't any left.

 

[zefarelly]

House prices in the South are certainly a massive rip off. Every now and then, and out of interest I look at Right Move for properties up North. I'm amazed at what we could get if we sold up down here.

I would never move up North, but like you say it's an option for those who cant afford to get on the property ladder down here.

THe thing is you don't need to move to a foreign countryry . . . . Littlehampton, Lancing, West Worthing, anywhere in east Sussex east of Lewes, Hailsham is good value, big Ind estate there too! . . prices drop. main train lines to London cause price spikes, as does quiet proximity to the A23. you just need to look a bit harder, and/or think differently. harassing EA's and getting a wreck/ dead grannie/grandad house is best value, thats what we did, probate sale. we were sweating on £300-£350 k houses and picked up a big 3 bed 30's semi for 250 ( 17 years ago though!)

 

[Shropshire Seagull]

We need to move the nations idea that home ownership is the ultimate aim of life and that renting is perfectly acceptable because it provides affordable housing with secure tenure, encourage new industries with some state backing on the proviso that the companies support accredited training for those they employ

Firstly, I get that places like Germany have a higher ratio of renting to ownership than the UK

Where I get troubled is, that for many UK properties, the cost to rent is often higher than a typical mortgage to buy it.
Rents go up [annually] broadly in line with inflation, driven by demand and availability
Mortgages are only regulated by interest rate, if the rate never changed [yes, I know it does] you'd be paying the same £££ in 20 years time

And the killer for me is, how does one afford to pay rent when in retirement? The state pension in 2020-21 is ~£383 pcm !! So, when the Bailiffs come a knocking, where do you go?
Alternatively, once a mortgage is paid off, you're living "rent free" [and also sitting on an inheritance for any kids, in time]

How do retired Germans afford to pay their rent?

 

[Billy the Fish]

We need to move the nations idea that home ownership is the ultimate aim of life and that renting is perfectly acceptable because it provides affordable housing with secure tenure, encourage new industries with some state backing on the proviso that the companies support accredited training for those they employ

This will only ever happen if its legislated for.

At the moment its impossible to say to someone in the UK that renting is equal to buying. My mortgage is a grand a month with the benefit of equity and growth.

If I was renting the same house my rent would be £1500 a month minimum plus fees and deposit which the agent will milk for all they're worth.

There's no silver bullet that will solve this. As a start I think more social housing and more protections for private g tenants would help.

 

[WATFORD zero]

This will only ever happen if its legislated for.

At the moment its impossible to say to someone in the UK that renting is equal to buying. My mortgage is a grand a month with the benefit of equity and growth.

If I was renting the same house my rent would be £1500 a month minimum plus fees and deposit which the agent will milk for all they're worth.

There's no silver bullet that will solve this. As a start I think more social housing and more protections for private g tenants would help.

Sadly, without significant Government intervention nothing will change. Huge swathes of social housing have now disappeared completely (70% between 1980 and 2017) and Governments of all political hues for the last 40 years have continued the drive to where we now find ourselves.

Just go through this thread and see how many times posters use the terms 'the housing market' and 'the housing ladder'.

WTF happened to 'somewhere to live'

 

[cloud]

How do retired Germans afford to pay their rent?

It's the same situation in Germany, if you're on a state pension: https://www.dw.com/en/poverty-after-retirement-how-a-german-pensioner-makes-ends-meet/a-51166327

 

[Notters]

Lots of very cheap northern towns that once relied on coal mining . Terraces from £50,000 ! The downside is you have to live in a quite depressing impoverished area . The Places up north that are super cheap are because no one wants to live there !

Well yes, that is true. But you can live in a really, REALLY nice area, for the price of what would be one of the least nice areas in Sussex.

Around here you can get a decent house for around £200k in what is a lovely area - and Leeds is a fantastic city now.

Admittedly the same house would be around £100k in the less nice areas.

 

[beorhthelm]

There's no silver bullet that will solve this. As a start I think more social housing and more protections for private g tenants would help.

there is one silver bullet - build more homes. private developers, council, housing association, doesnt matter. relax planning permission and get building.

 

[Notters]

there is one silver bullet - build more homes. private developers, council, housing association, doesnt matter. relax planning permission and get building.

They'd have to build a hell of a lot more roads, railways, schools, shops etc. for this to work. And look after the existing ones better. The roads and railways down there are in a right state.

 

[beorhthelm]

They'd have to build a hell of a lot more roads, railways, schools, shops etc. for this to work. And look after the existing ones better. The roads and railways down there are in a right state.

yes they will. get planning done for these too.