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Author Rented house / Mortgage
GREG 1
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Registered: 28th Jul 00
Location: Rayleigh, Essex
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4th Jan 06 at 13:31   View User's Profile U2U Member Reply With Quote

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
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 13:34   View Garage View User's Profile U2U Member Reply With Quote

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
Ian
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Registered: 28th Aug 99
Location: Liverpool
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4th Jan 06 at 13:35   View Garage View User's Profile U2U Member Reply With Quote

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
GREG 1
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Registered: 28th Jul 00
Location: Rayleigh, Essex
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4th Jan 06 at 13:35   View User's Profile U2U Member Reply With Quote

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.
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 13:36   View Garage View User's Profile U2U Member Reply With Quote

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
Ian
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Registered: 28th Aug 99
Location: Liverpool
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4th Jan 06 at 13:37   View Garage View User's Profile U2U Member Reply With Quote

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]
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 13:57   View Garage View User's Profile U2U Member Reply With Quote

You have an answer for everything tho, Ian

I'm still right tho
Ian
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Registered: 28th Aug 99
Location: Liverpool
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4th Jan 06 at 14:00   View Garage View User's Profile U2U Member Reply With Quote

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.
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:03   View Garage View User's Profile U2U Member Reply With Quote

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.
Ian
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Registered: 28th Aug 99
Location: Liverpool
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4th Jan 06 at 14:05   View Garage View User's Profile U2U Member Reply With Quote

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.
Edd
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Registered: 8th Nov 04
Location: Glasgow
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4th Jan 06 at 14:05   View User's Profile U2U Member Reply With Quote

both have pro's and con's

a crash will come maybe not soon but it will happen
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:06   View Garage View User's Profile U2U Member Reply With Quote

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
nik
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Registered: 19th Jun 00
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4th Jan 06 at 14:06   View User's Profile U2U Member Reply With Quote

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 )
nik
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Registered: 19th Jun 00
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4th Jan 06 at 14:07   View User's Profile U2U Member Reply With Quote

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.
Edd
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Registered: 8th Nov 04
Location: Glasgow
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4th Jan 06 at 14:08   View User's Profile U2U Member Reply With Quote

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 )



Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:08   View Garage View User's Profile U2U Member Reply With Quote

Speaking of places, I move into my new place this weekend

Party at mine
Ian
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Registered: 28th Aug 99
Location: Liverpool
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4th Jan 06 at 14:10   View Garage View User's Profile U2U Member Reply With Quote

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.
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:11   View Garage View User's Profile U2U Member Reply With Quote

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.
Edd
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Registered: 8th Nov 04
Location: Glasgow
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4th Jan 06 at 14:12   View User's Profile U2U Member Reply With Quote

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
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:13   View Garage View User's Profile U2U Member Reply With Quote

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
Melville
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Registered: 4th Jun 03
Location: Newcastle upon Tyne
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4th Jan 06 at 14:14   View User's Profile U2U Member Reply With Quote

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
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:17   View Garage View User's Profile U2U Member Reply With Quote

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
nik
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Registered: 19th Jun 00
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4th Jan 06 at 14:18   View User's Profile U2U Member Reply With Quote

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.
Brett
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Registered: 16th Dec 02
Location: Manchester
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4th Jan 06 at 14:20   View Garage View User's Profile U2U Member Reply With Quote

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
GREG 1
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Registered: 28th Jul 00
Location: Rayleigh, Essex
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4th Jan 06 at 14:23   View User's Profile U2U Member Reply With Quote

The prices are just crazy, i seriously need a new job to get a decent mortgage.

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