GREG 1
Member
Registered: 28th Jul 00
Location: Essex
User status: Offline
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If you rent your own place, how much is it a month ? how much is everything all in ?
Are you allowed animals in your place ?
Mortgage peeps - How much are you paying per month, how much is your mortgage for ?
Cheers guys
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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I used to rent a 2 bed apartment for £425 a month. Had own secure parking spot too. It was really old listed building and was HUGE, the living room was gigantic, used to echo when we talked to each other 
I also rented a studio for £300 a month, wouldn't bother if i was you 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Renting is generally cheaper but there are conditions.
Mortgage calculator is here
http://new.egg.com/visitor/0,2388,3_54988--View_1028,00.html
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GREG 1
Member
Registered: 28th Jul 00
Location: Essex
User status: Offline
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Really ?
Not sure on whether to rent for a while and see how we get on OR go for it and get a mortgage but very expensive !!!
Can get a MUCH nicer place renting and spare cash than a mortgage BUT then its wasted money.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Don't bother renting mate, seriously, dead money, plus it'll be harder to save for your own gaff when you want to.
Hold out and save up for your own place 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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http://www.housepricecrash.co.uk
http://www.firsttimebuyerhelp.co.uk/articles/article.aspx?id=9
Read this if you think renting is a bad idea.
[Edited on 04-01-2006 by Ian]
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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You have an answer for everything tho, Ian
I'm still right tho
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I don't believe the crash hype, I've recently bought myself so I hope its not true!
They make the point that rent means you don't lose when the price goes down, which might be true, or might not.
I personally think renting is dead money.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Ian
I don't believe the crash hype, I've recently bought myself so I hope its not true!
They make the point that rent means you don't lose when the price goes down, which might be true, or might not.
I personally think renting is dead money.
ah, so you agree with me...I have just had a look at the website you posted and it is interesting but a little OTT.
I still live by my strategic buying and selling..
Interest only mortgage, sell after a couple of years, put profit down on next house, repeat every few years, each time buying a bigger/more exlusive property, each time making greater amount on the sale.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Yeah well worth doing.
I don't believe prices are going up indefinately but I also don't think they're going to crash. Interest rates won't go high enough to cause that.
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Edd
Member
Registered: 8th Nov 04
Location: Glasgow
User status: Offline
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both have pro's and con's
a crash will come maybe not soon but it will happen
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Ian
Yeah well worth doing.
I don't believe prices are going up indefinately but I also don't think they're going to crash. Interest rates won't go high enough to cause that.
House prices don't go down 
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nik
Member
Registered: 19th Jun 00
User status: Offline
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Mortgage for 170k, put down 80k deposit on top, works out at around £1100 a month for the mortgage, in total I budget £2100 a month to cover food and other bills (excluding cars etc)
IMO I wouldn't bother renting, dead money and your better off staying at home (unless your kicked out )
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nik
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Registered: 19th Jun 00
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There has been worry of a market crash for years and years now I don't think there will be one although I would be careful not to 'over pay' for a property as I think prices are now evening out.
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Edd
Member
Registered: 8th Nov 04
Location: Glasgow
User status: Offline
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quote:
Originally posted by nik
Mortgage for 170k, put down 80k deposit on top, works out at around £1100 a month for the mortgage, in total I budget £2100 a month to cover food and other bills (excluding cars etc)
IMO I wouldn't bother renting, dead money and your better off staying at home (unless your kicked out )
 
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Speaking of places, I move into my new place this weekend
Party at mine 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I mean continuing to rise at silly rates.
I do think houses that were valued for sale recently were unrealistically priced as well, I know a few people who haven't had interest at the price and have lowered.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Ian
I mean continuing to rise at silly rates.
I do think houses that were valued for sale recently were unrealistically priced as well, I know a few people who haven't had interest at the price and have lowered.
Yeah true, but you're never going to sell a house for less than what you paid for it.
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Edd
Member
Registered: 8th Nov 04
Location: Glasgow
User status: Offline
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if you buy at the right time and sell at the right time there is a lot of money to be made for example
5 years ago bro bought a 1 bedroom flat for 18k
last year sold it for 79k
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Edd
if you buy at the right time and sell at the right time there is a lot of money to be made for example
5 years ago bro bought a 1 bedroom flat for 18k
last year sold it for 79k
Strategic Buying & Selling is the way forward
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Melville
Member
Registered: 4th Jun 03
Location: Newcastle upon Tyne
User status: Offline
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loafofbrett - you may be foced to if you cant afford the payments. I know its normally not the case but Ive recently just acquired somwhere on the cheap because of the said reason
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Melville
loafofbrett - you may be foced to if you cant afford the payments. I know its normally not the case but Ive recently just acquired somwhere on the cheap because of the said reason
my uncle buys repo'd houses all the time for like half the market price, he tells me you need the cash amount ready tho
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nik
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Registered: 19th Jun 00
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Thats true, some people were buying at the top of what they can afford. If interest rates do rise, a lot of people will be buggered and have to sell up. Can't see it happening but is a scary thought for some.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by nik
Thats true, some people were buying at the top of what they can afford. If interest rates do rise, a lot of people will be buggered and have to sell up. Can't see it happening but is a scary thought for some.
The lesson is "don't over stretch yourself" then, if you're living on a string and have nothing left to play with you're asking for trouble anyway
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GREG 1
Member
Registered: 28th Jul 00
Location: Essex
User status: Offline
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The prices are just crazy, i seriously need a new job to get a decent mortgage.
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