whats the cheapest price you have bought a house for

£172k nearly 10 years ago

My folks bought the previous house for £14k - 5 bedroom detatched in a really nice area with parking for about 20 cars! That was 30 years ago though.
 
dmpoole said:
The only problem was that houses weren't expensive back then.
For instance my Dad paid £200 for the house but the same year paid £150 for a Fender Stratocaster guitar.
He also laughs that he paid £400 for an average runaround car which was twice as much as the house.
When I bought my first house in 1980 for £6000 there were plenty of normal cars at the same price and then suddenly (I think) in the late 80's/early 90s house prices started to go up.
In 1980 I had a Ford something or other for £2500 and that was 3 years old.
So yes, houses cost less than cars at one time.
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What a way to make a killing if I knew..or alive back then.
 
Thats part of the problem now though, back in those days people on average salaries could afford to own a house, now you can't.

Im on what would be considered an average salary and there's no way i'd be able to afford a mortgage at the moment, primarily because of the huge deposit required.
 
My parents bought our house about 39 years ago for £11k. Was only a 3 bed back then and half the front garden was for trees but my dad built an extension adding two more rooms and a garage although one room is so tiny that we eventually changed it into a bathroom.
 
dmpoole said:
He was ripped off or it was a mansion.

My Mum & Dad bought their first house in 1960 and it cost £200.
My first house cost £6000 in 1980 and the house I'm in now cost £14,500 in 1984.
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My parents bought thier first house (3 bed semi) in 1967-ish and it cost just over £2000 which was pretty much average.

This website seems to back this up:

http://www.mortgageguideuk.co.uk/housing/uk-house-price-index.html

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A quick google for "1960 average house price" indicates an average price of £2530, so your folks must have gotten a proper bargain at just £200.
 
I am not sure what went up more, materials or labour or land or all of the above.

I was working in practice about 8 years ago and built a 4 bed detached + study (really nice house with roman pillars at the front door) and that was £180,000 at Cost, minus the cost of the land and the cost of building application and architect fees. The total would have been close to if not over £200,000. That was around 2002. It would fetch at least £350,000 to £400,000 at it's peak a couple of years back. But that 20 years ago I wouldn't think that would cost even £100,000 to build, so it's not all profit.
 
To get a proper idea you'd need to map house prices alongside inflation, which should give you a picture of cost increase in real terms. I would but a) I'm on a train and b) I do enough like that for a day job. Maybe later if you're lucky...
 
fidget said:
http://www.mortgageguideuk.co.uk/housing/uk-house-price-index.html
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I bought my first house in 1996 a three bed mid terrace for £47k as a starter house. The one time listening to my wifes whinging has paid off and I'm so glad I didn't hesistate any longer. At the time that was 1.5 times my wage.

Pure luck based on my age. The house sold very recently for around £225k (not by me), pure madness for house with two down, three up.

http://www.rightmove.co.uk/property-for-sale/property-32266088.html

When we bought that in 96, the Mrs old man told me it was never worth 47k and wouldn't make any money :D

Like everyone I wish I'd pushed for more in the 90's. We looked at a property for £120k that I've seen sell for £650k now. In my shortsighted 20 year old view at the time I refused to pay stamp duty :D
 
I've got some original paperwork for my house from 1892 when it was built, the price for my house and the one next door was £280, so £140 for each.

I bought it last year for £110,000!
 
Houses now are massively overpriced as a result of the cheap credit available for such a long period. Hopefully they will crash and return to a reasonable level in the next few years.

I think my parents paid about £20k for an ex council house in the early 80s, with a few extensions its worth over £200k now.
 
My grandparents bought their first house for something like a £200. They say the dining room fit a 10 seating table, with a room to the side which they had a full size snooker table in.

To think something with these size rooms now a days would be £500k plus is scary!
 
dmpoole said:
He was ripped off or it was a mansion.

My Mum & Dad bought their first house in 1960 and it cost £200.
My first house cost £6000 in 1980 and the house I'm in now cost £14,500 in 1984.
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This. My boss bought his old family home in 2006 for £950,000. His dad sold it in 1982 for £180,000. When I was researching the deeds, I saw it had been sold previous to that for £1,650 in 1964.
 
£100 from my dad 15 yrs ago....long story behind it, and im not about to go into it but he owed me and my 2 brothers and mum big time for his massive screw ups...the house is now worth £400k...want to put it up on the market but theres a few things that i need to get sorted around the house, which im currently doing at the moment.

Bargain of the century but then i and my 2 brothers twisted my dads arm so bad that he really had no choice but to sell the house to me and my brothers.
 
Me personally, £142,000 in 2008 for a 3-bed semi in a very decent area, not quite so decent (but tolerable - has not put tenants off) estate. Rather good deal that. Near derelict reposession.

Bargain of the century was the house i grew up in (compared with prices today) was a 5 bed detached for £210,000 in 1988. Ludicrous value, thats only £435k in todays money inflation adjusted :(
 
£13,700 in 1981, Three bed terrace in Leigh Lancashire. I was earning £4,200 at the time. Took a 95% mortgage on it.
 
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