I'm not "making excuses", just pointing out how far the goal posts are moving each time. We've gone from a 2 bed in West Ham to a handful of short leasehold and cash only purchase studio flats in Luton to get even close to the original 'point'. It's laughable frankly.
House prices rose 7.3% this year, average now almost £250k
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Friend of mine has just (against our advice) rented a flat on Upper Street opposite Islington Green.
Basic 1-bed, electric heating, £1.5k a month.
That is 50% more than our mortgage on our house, but he is willing to pay for the location.
We even offered him to stay with us for 6 months to a year paying a third of the above, to help him save for a deposit, but nope, he wants to live in the hubbub of London.
Basic 1-bed, electric heating, £1.5k a month.
That is 50% more than our mortgage on our house, but he is willing to pay for the location.
We even offered him to stay with us for 6 months to a year paying a third of the above, to help him save for a deposit, but nope, he wants to live in the hubbub of London.
That's a crazy rent especially at this time. However, to buy that property it probably costs a £100k deposit and £2k a month mortgage. That's why a lot of people have just given up.
Also if your mortgage was less than
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Your maths is wrong.
In his moving of goalposts, he's also forgetting that Luton to London & the tube season tickets is £5.5K a year, £11k for a working couple.
Yes, less than a £1000 mortgage and still doing the friend a "favour" by letting them crash there for £500 a month. LOOOL.
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On top of that add about £200 council tax, utilities, internet, insurance, etc. Probably closer to £1900pm.
Not everyone is looking for a house. Some people just like to rent and want to live where they feel the action is.
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Deleted User 298457
Deleted User 298457
You are really angsty at the entire world rather than a specific issue I think. Just because people are participating in what is so adhorrent to you doesn't make them bad people. A basic course in economics could be valuable for you?
That's a decent deal if COVID wasn't in full force. Will be an amazing place to be come summer I hope.
I was paying about the same for a 1 bed 10 mins walk from St P - 300sqft
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And we already let him live here for a month completely free when he had to move out of his last place as he needed to fly back to South Africa.
Just for clarity, he earns our combined household salary solo (self-employed software developer), we help him save £1k a month, he helps us clear £500 a month of our debts quicker, everyone is a winner. We have a lovely, big 3 bedroom house, he would have had the largest room, and his own private bathroom as we have an en-suite.
When I was house-sharing in London, I was paying £700 for a biggish room in a run-down house, sharing a single bathroom/toilet with 3 other people.
Eh? Based on what?
It’s better to read what has been said rather than argue against your own projections.
Not sure what you're even talking about. For whatever reason it seems like you feel I've done you wrong. I don't know you.
Boomer economic: house prices have to go up at 5-10x inflation or else we're all dead. Keep your "economic" course for yourself.
I misunderstood, that's actually nice of you. Apologies.
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That's a decent deal if COVID wasn't in full force. Will be an amazing place to be come summer I hope.
I was paying about the same for a 1 bed 10 mins walk from St P - 300sqft
Location-wise yes, but the flat is certainly wanting, he has had loads of issues already with draughty windows, issues with the spot-lights flickering, no deep clean was down when they said it was, and crappy electric heaters.
He complains about not being able to save a deposit because of renting, but then continues to pay over the odds for rent when we offer him better options.
Only if you insist on being difficult and keep refusing to let up on a mistake I apologised for multiple times....
'Laughable frankly'
I never actually suggested Luton matey, do keep up
Only if you insist on being difficult and keep refusing to let up on a mistake I apologised for multiple times....
'Laughable frankly'
I never actually suggested Luton matey, do keep up
So can you show us the magic location within 20 mins of Zone 1 where one can buy a 2-bed flat for 70-150k please? That's your own criteria wasn't it? Feel free to make that £150-200k.
You suggested West Ham, it wasn't it, you apologised (big of you), please tell us where this promise land is?
Only if you insist on being difficult and keep refusing to let up on a mistake I apologised for multiple times....
'Laughable frankly'
Surely you can see its not excuse making though? The fact they're only studios is only part of the point I was making.
Claiming the 'start point' is £80k based on properties that are cash only purchases, or properties with short leaseholds, or student halls apartments is disingenuous at best, the idea touted that this then somehow showed the original point still had validity is what's laughable.
It's a start point only if you have £80k in the bank or don't mind buying a house that'll be unsellable without significant expense on a lease extension.
Deleted User 298457
Deleted User 298457
Eh, he will soon come around. Most young professionals go through this phase. He'll need more support when he moves out and realises how slow and boring normal life is compared to Zone 1
.Regarding "not being able to save", I think he is smart enough to realise that he is simply not yet prioritising saving for a house. Not being able to save, and not priortising to save are two very different things.
If he is already on a decent London wage - ~£80k-ish then odds are the sky is the limit for him with regard to earning potential. Like many he is probably thinking that a couple of years having a great time is well worth the delay in the inevitable 'growing up'. Especially if he is a bloke, he can only get more attractive as he matures, gets more dollar, buys nicer clothes and watches and what not.
Good on him for not moving to suburbia and (mentally) dying young.
Edit: The get on the ladder crew are the latest evolution of birds being told to get married and have kids before they're 23. The fact is it'll take software devvy about 12 months to save what most could save in 5 years of trying. If earnings outpace lifestyle, you are double quids in (y)
No need to go any higher than 150k, here are a few which are 20mins in terms of public transport, driving wise you could live a street away from zone 1 and it can take 30 minutes to get into it
https://www.onthemarket.com/for-sal...rement=false&shared-ownership=false&view=grid
https://www.onthemarket.com/for-sal...ed-ownership=false&under-offer=true&view=grid
https://www.onthemarket.com/for-sal...rement=false&shared-ownership=false&view=grid
That was about 3 minutes of searching, if I was actually actively looking for myself I expect I'd find plenty more via other sites.
Ps. He's 40Eh, he will soon come around. Most young professionals go through this phase. He'll need more support when he moves out and realises how slow and boring normal life is compared to Zone 1
Regarding "not being able to save", I think he is smart enough to realise that he is simply not yet prioritising saving for a house. Not being able to save, and not priortising to save are two very different things.
If he is already on a decent London wage - ~£80k-ish then odds are the sky is the limit for him with regard to earning potential. Like many he is probably thinking that a couple of years having a great time is well worth the delay in the inevitable 'growing up'. Especially if he is a bloke, he can only get more attractive as he matures, gets more dollar, buys nicer clothes and watches and what not.
Good on him for not moving to suburbia and (mentally) dying young.
Edit: The get on the ladder crew are the latest evolution of birds being told to get married and have kids before they're 23. The fact is it'll take software devvy about 12 months to save what most could save in 5 years of trying. If earnings outpace lifestyle, you are double quids in (y)
Those are short leasehold properties btw.. so would require additional (sometimes not exactly insignificant sums) to get the lease to reset to 100+ years or 999 years. Could be difficult to get a mortgage etc.. but could also be some £££ to be made if a cash buyer with funds to extend the lease.
It was certainly possible a few years ago to get a place in say Grove Park, zone 4 for 150k or below, that's just within 20 mins if we count London Bridge as central, might require a bit more these days for a place there.
I reckon there are probably some other locations though that still fit the requirement, and likely more if it were extended to say 30 mins (that's assuming train times station to station rather than door to door commute times).
Oh I'd love to hear your defence of GPU/Xbox/PS5 scalpers. Perhaps how they provide a valuable service by preventing things from being sold below the market value... Selling below market value would be dangerously close to communism!
Caporegime
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Looks like you need education on what market value means.
I didn't realise the scalpers were holding a gun to the buyers heads forcing them to pay more.
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