Mortgage Rate Rises

TV above the fireplace is a multiplier.

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Going to have a stab in the dark and say it's in a slightly nicer area

Depends on what you describe as a nicer area? Where I live crime rate is low, primary school is 5 minutes walk, 24hr Tesco is 5 minutes walk, my commute to work is 8 minutes and my mortgage will be paid in my early 40's. I have everything I could possible want. Large 3 bed detached, big streets, enough parking for 4 cars plus 1 in the garage, decent sized rear garden. It also means I can be retired by my late 50's or early 60's because I can funnel all my cash into pension instead of house.

There are plenty of places that have exceptionally high house prices but have gang violence, high crime, high population etc etc. They do offer more opportunities to make money but if you can make money in a cheaper area then you are quid's in.

I have two corner sofa's in my living room (8 meters by 4 meters) :P.
 
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Depends on what you describe as a nicer area? Where I live crime rate is low, primary school is 5 minutes walk, 24hr Tesco is 5 minutes walk, my commute to work is 8 minutes and my mortgage will be paid in my early 40's. I have everything I could possible want. Large 3 bed detached, big streets, enough parking for 4 cars plus 1 in the garage, decent sized rear garden. It also means I can be retired by my late 50's or early 60's because I can funnel all my cash into pension instead of house.

There are plenty of places that have exceptionally high house prices but have gang violence, high crime, high population etc etc. They do offer more opportunities to make money but if you can make money in a cheaper area then you are quid's in.

I have two corner sofa's in my living room (8 meters by 4 meters) :P.

Expensive ≠ nice
 
Depends on what you describe as a nicer area? Where I live crime rate is low, primary school is 5 minutes walk, 24hr Tesco is 5 minutes walk, my commute to work is 8 minutes and my mortgage will be paid in my early 40's. I have everything I could possible want. Large 3 bed detached, big streets, enough parking for 4 cars plus 1 in the garage, decent sized rear garden. It also means I can be retired by my late 50's or early 60's because I can funnel all my cash into pension instead of house.

There are plenty of places that have exceptionally high house prices but have gang violence, high crime, high population etc etc. They do offer more opportunities to make money but if you can make money in a cheaper area then you are quid's in.

I have two corner sofa's in my living room (8 meters by 4 meters) :p.
It was a generalisation but yes, I see where you're coming from.
Usually things that cost more are better. Housing wise though, you could like in a remote area of the country that might be close to a school and a few shops and is much cheaper than other places... but has less opportunity. I guess the big money areas are usually cities but you might have the crimerate to go with it.
 
"BBC News - House prices fall by the most in south-east England, says Halifax"
https://www.bbc.co.uk/news/business-66425947


Quite a few places nearby have sold STC in the last month when advertised in the 500-650k range. Would be interesting to see what they actually sold for. I've been watching the area for about a year now and the asking prices still seemed a tad high to me, so either I'm wrong (most likely), the market here is more resilient than elsewhere, or they accepted well below asking price.
 
Depends on what you describe as a nicer area? Where I live crime rate is low, primary school is 5 minutes walk, 24hr Tesco is 5 minutes walk, my commute to work is 8 minutes and my mortgage will be paid in my early 40's. I have everything I could possible want. Large 3 bed detached, big streets, enough parking for 4 cars plus 1 in the garage, decent sized rear garden. It also means I can be retired by my late 50's or early 60's because I can funnel all my cash into pension instead of house.

There are plenty of places that have exceptionally high house prices but have gang violence, high crime, high population etc etc. They do offer more opportunities to make money but if you can make money in a cheaper area then you are quid's in.

I have two corner sofa's in my living room (8 meters by 4 meters) :p.
Parts of Norfolk (e.g Hunstanton) are lovely areas and have cheap housing - but there's absolutely naff-all to do there. Any kind of recreational activity (cinema, karting, theatres, museums) is a minimum 1hr drive away.

That's before you even look at the road infrastructure to get anywhere. A major airport to fly anywhere is 2+ hours away.

Boston is pretty much the same, no?
 
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