I live in a 3 bed detached (quite small for a detached) valued on zoopla at 340k
(I don't think it's worth 340 as only bought for 260 in Feb 2020)
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
(I don't think it's worth 340 as only bought for 260 in Feb 2020)
Our rent, with bills is about £2,600 a month. £1,900 without.
If I wanted to buy somewhere like this, on our earnings I would need a £300-330,000 down payment. If I had a 10% down payment we would need to earn £120,000 between us minimum.
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3 bed semi here valued at around 135k lulz, at least i'm on the beach front though
(bought for 90k in 2018)
Obviously we all know prices differ geographically but it's still shocking seeing real examples.
I'd never get on the ladder where you are
Where is this?3 bed semi here valued at around 135k lulz, at least i'm on the beach front though
(bought for 90k in 2018)
I want to move nearer the sea. I might be lucky to get a better house for less money in my next movw. Would be great to not need a bigger mortgage
I'll PM you...
Brighton, btw.
It's mad, although not as bad as some places. I could move away, my job is fairly transferable (although, likely at a slightly lower pay point). But my entire family, circle of friends etc. live down here.
It seems somewhat dystopian that I would have to move hundreds of miles from where I was born, abandon everyone I know and start again just to be able afford the basics of a home.
Yeh but you have sheep for neighbours3 bed semi here valued at around 135k lulz, at least i'm on the beach front though
(bought for 90k in 2018)
Yeh but you have sheep for neighbours
They aren't too baaaaaaad.
Oh yeah really expensive. And that beach is so busy! You really would have to move a long way to get a noticeably cheaper standard of living.
Managed to get myself a full time WFH job. So really, I can live anywhere now. Really opens doors as I don't really have any ties to an area.
Soldato
Jaywick?3 bed semi here valued at around 135k lulz, at least i'm on the beach front though
(bought for 90k in 2018)
Don't knock it before you try itYeh but you have sheep for neighbours
That place is probably more expensive than where i live ha!Jaywick?
I was thinking it was the banned forum place!Jaywick?
Soldato
And me but I'm trying to be kind. And not banned.I was thinking it was the banned forum place!
Caporegime
If I was in your position I would seriously consider living in a Van to save up a deposit for a house.
Imagine 20 years ago that a first world country like UK would require people to live in vans just to get on the housing market. My monthly bills and mortgage are around 1k and I will be mortgage free by 40. There is nothing I lack that I would get down south. Most of my family have emigrated to U.S/Aus etc so I am not tied down to a certain place although I do have a few in the Cambridge area. I have 35 minutes to the beach plus everything is a couple of hours away. Be it Manchester or London.
I can imagine Brighton is quite nice though but sacrificing and working till you are dead just to live there must be a hard pill to swallow.
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I couldn't do It either. I couldn't live somewhere where I was renting forever just to live in that area.
But many people value family/existing friends more I suppose. Others may be pinned in a specialist career? Or they really like the geography.
But other than the above I can't see why you wouldn't move away to live a better life.
Permabanned
wheres that ?? i'm 5-10 mins from the beach house is worth 140k .. bought like you for 90k ... it means you can still earn less and have a good life .. i earn 27k ish wife 23k .. we buy what we want and put the heating on when we are cold .. 8 yrs left on the mortgage but we over pay to bring payments down .. £340 atm ..3 bed semi here valued at around 135k lulz, at least i'm on the beach front though
(bought for 90k in 2018)
will go part time in 3 yrs when we hit 60
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Why the obsession with being mortgage free? Mortgages are super cheap debt, that £500 a month can make you decent money in a stocks and shares ISA or other investment. A mortgage free house is full of equity you can't touch unless you release it through some equity release scheme.
Soldato
The benefit I tell myself, is that when/if I decide to move far away, I'll be able to live like a king with what I purchase as house prices else where are half the price.
Reality is ill prob never move too far unless my doge goes to the moon