How much house can you get?

[englishpremier]

What is stark is the attractiveness of some of the new build properties abroad, compared to these horrible little brown/red brick boxes, with pointy roofs, and no ventilation in the UK.

In my last postcode, £250 would get you a 2 bed flat/apartment. Only one house was for sale, some grotty 3 bed terrace that you'd stick 5 students in and charge them £300pcm, then laugh all the way to the bank.

It'll get to a point where affordable housing in London will mean a tiny boxed flat. I am surprised more people are not buying and living in shipping containers.

I was priced out to the outskirts of London but prefer the peace and quiet than a busy and noisy place.

I don't drive but it has now become a necessity. Traveling to work is not too bad and may get better very soon.

It's probably not possible most places in the UK. You'd need planning permission. Risking it without that would mean you have no address.

 

[wez130]

Depends on exact location as that will get you a 1 bed apartment 5 mins from where I live or it will get you a 3 bed detached home around the corner. Go to west end and it will likely be a run down 1 bed flat or nothing. Go further out and i'm sure you can get a 4 bed house for that kind of money.

So even within the same city it will vary massively depending on the exact location.

I mean if you go to a dump of a place you could buy 4 flats for that amount. Or 3 half decent flats in an area which is currently being re-developed from the dump it once was.

I could show you a flat for £20K and a house for £2 million within 15 mins drive of each other as an example.

Well for context, the search i did was for the whole district of Rodney, which covers 937 sq. miles, one single house in 937sq miles that was £35k over budget.

 

[UTmaniac]

It's quite depressing that we are hoping to finally get on the housing ladder this year near Southampton, near our jobs and we can barely afford a low end 2-bed flat. That same ~£140k gets you a detached house/bungalow with a decent sized garden near Prestatyn, where family retired to recently. Down here you are lucky to find a house under £170k.

 

[FishLicker]

Newcastle upon Tyne area, I've had an offer accepted on a 3 bedroom end terrace, built 7 years ago, stone built, 2 parking spaces, freehold in a fairly sought after little village. £145k. We did look long and hard to find it though. Typically 150-185k seems to be an average.

Must be one of the cheapest places to live in the UK really.

 

[Psycho Sonny]

The thing is the more you put down the better rates you get. People should just try to save for longer.

The problem maybe with this is that house prices are going up that quick it might then not make sense to try and save as you not getting value for money on the rates that’s been charged.

Stinks really, can’t do right for wrong.

The problem is around my area they have built about 200 new mortgage homes. Guess what this has done? Pushed the prices of older properties down as everyone’s interested in new builds that cost 120+ for 2 bedroom.

The old houses are 50-70k and the values falling as people can’t get rid of them quickly enough.

new builds are always overpriced.

it's supply and demand. the new houses have increased supply. a lot of people these days don't have a clue what to buy or what they are buying they just copy everyone else.

so new builds are attractive to this generation of house buyers.

so the demand for the old houses has dropped 2 fold as people now have the option new builds and the fact they are new.

there is a 3 month old new build on the market near me. offers over £280K and the current price for them new is £320K. and they have spent £20K on extras over a standard new build.

so people buying these new build will never see a profit on them unless they live in them for 40 years when you take interest into account.

 

[Skillmister]

https://www.rightmove.co.uk/property-for-sale/property-87420644.html
Tempting.



Cheapest non auction, non shared ownership property near(ish) me.

https://www.rightmove.co.uk/property-for-sale/property-67801950.html

 

[Puzzled]

https://www.rightmove.co.uk/property-for-sale/property-87420644.html
Tempting.

That chapel would make a lovely home cinema

Graveyard not included though no so walking around naked with the curtains open, might give someone grieving a shock

 

[glenimp617]

I can't understand why new builds always sell so quickly. 99% off plan as well.
They are expensive crap.

 

[Junglist]

I can't understand why new builds always sell so quickly. 99% off plan as well.
They are expensive crap.

We've gone for a new build as FTB as we just couldn't be bothered to deal with a house that would need improvements/more maintenance. I think when we decide to move we'd probably be more open to getting an older house with more charm and we could spend time doing it up on the inside but right now, new fits in more with what we want. We weren't actually thinking of a new build house but the right one came up in the right place and we loved it

Totally appreciate it's not for everyone though.

 

[Scam]

I can't understand why new builds always sell so quickly. 99% off plan as well.
They are expensive crap.

BTL.

I live in zone 3 West London and they've recently built 3 whole new complexes of "luxury apartments" with more to come. When the first one opened they were asking stupid-money (something like £650k+ iirc) for 1-2 bedroom flats even though you could *almost* get a house for that in arguably a nicer part of town 10mins walk away. We went to the showroom and asked them how many have been bought for BTL and they were very, very evasive. Same old story.. build luxury apartments, sell to rich Chinese, Russian and Arabs.. profit. This is why London is unaffordable for normal people.

 

[Skillmister]

I can't understand why new builds always sell so quickly. 99% off plan as well.
They are expensive crap.

Because people don't want to spend a year painting and decorating anymore if the option is there not to.

Plus Help to Buy gets people into houses they couldn't otherwise afford.

 

[glenimp617]

Because people don't want to spend a year painting and decorating anymore if the option is there not to.

Plus Help to Buy gets people into houses they couldn't otherwise afford.

I'd say it's more important to repaint a newbuild than an old house. I know a few friends who are in newbuilds, and when it was time to repaint a few years later they had an absolute nightmare with the new paint stripping the old off back to bare plaster. Common issue actually. The cheap emulsion over plaster on new builds doesn't stick.

I know what you're saying though. They look great for the first couple of years, and the help to buy thing (isn't it just a way of keeping house prices high) gets people on the ladder.

 

[HungryHippos]

£235K around here would get you a 2 or 3 bed semi-detached/terraced house, with the 2 beds probably having bigger bedrooms. In most cases I've seen at this price bracket they all seem to need some modernising, more like £250K+ for something that is more up together but the same size.

 

[adam cool dude]

It's quite depressing that we are hoping to finally get on the housing ladder this year near Southampton, near our jobs and we can barely afford a low end 2-bed flat. That same ~£140k gets you a detached house/bungalow with a decent sized garden near Prestatyn, where family retired to recently. Down here you are lucky to find a house under £170k.

Can't you find a job in your sector somewhere else? As you are renting it is a lot easier to up sticks and move.

 

[dirtychinchilla]

I'd say it's more important to repaint a newbuild than an old house. I know a few friends who are in newbuilds, and when it was time to repaint a few years later they had an absolute nightmare with the new paint stripping the old off back to bare plaster. Common issue actually. The cheap emulsion over plaster on new builds doesn't stick.

I know what you're saying though. They look great for the first couple of years, and the help to buy thing (isn't it just a way of keeping house prices high) gets people on the ladder.

Mine still seems good 4 years later. We've not repainted, but looking the paint, a quick sand would probably fix the walls and then we could repaint.

We've made a good amount of money on our house through help to buy.

 

[Skillmister]

I'd say it's more important to repaint a newbuild than an old house..

I'd rather not have kept the red wallpaper, red gloss and red carpet that was in my house thanks

 

[moon man]

You just have to use the other buyers avertion to opening a tin of paint to your advantage i would say.
As said some want new builds (fair play if new needed for help to buy) or houses that have had a few coats of cream paint thrown over them.
The average price was around 190k when we were looking but its amazing how somw have no vision of what a room or house could be with very little work ,im rubbish at diy but managed to refresh kitchen ,lay flooring ect ect my ex did the garden
so yes overgrown garden ,needed decorating ,out building doors swelled shut ,no interest steamed in at bearly 6 figures
thats 3/4 of the bottom garden ,i have 2 more

 

[Scam]

Because people don't want to spend a year painting and decorating anymore if the option is there not to.

That's mental and such a short-sided view. I don't know what the houses are like round there but I'd easily prefer an old Victoria/Edwardian thing compared to some of the cardboard tat they put up nowadays. And if you need to redecorate it's hardly a year is it? Even if it is because you're doing more than painting, what's a year in the grand scheme of things assuming most people would live in a house for at least 5 minimum With new builds you're easily paying a premium for some cheap white paint on the walls and cheap (but shiny) appliances everywhere. It's a false economy.

I look forward to the day I can move into a falling-apart old Victoria house and do it up exactly the way I want.

 

[mccarf]

Found this one not so far from me, about half hour drive from Helsinki centre. It's not as big as it looks because the right side is garages. Quite a lot of the stuff were apartments though which are extremely common here.

 

[Merlin5]

I bought my one bedroom ground floor flat with own garden (conversion in old terraced house) in north London for £47K in 1987. Mortgage finished nearly 3 years ago so it's now completely mine. I bought the freehold last year for a grand, and the flat is currently in the ballpark of about £350 to £370K. Crazy really when I could buy a 3 or 4 bed detached outside of London and still put thousands in the bank.