the_milkybar_kid wrote:It's kinda ruined my marriage though, but honestly it would have been the same if we'd tried to live with it, so lose lose there. Hopefully that'll improve once we can put the stress behind us. |
Advice on house hunting
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Psychotext 70,652 posts
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askew 24,121 posts
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Registered 16 years agoI'm sorry to hear that 
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the_milkybar_kid 8,474 posts
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Registered 7 years agoPsychotext wrote:
the_milkybar_kid wrote:
It's kinda ruined my marriage though, but honestly it would have been the same if we'd tried to live with it, so lose lose there. Hopefully that'll improve once we can put the stress behind us.
It's been 3 yeas since we moved in to this house and I think we moved in a few weeks after you did. I'd have been hanging from the rafters long before now so credit to you for getting the fuckers to see it though.
I'm sure it will mate. If you've put this much time and dedication into something as massive as a house, despite none of it being your fault, I'm sure you can overcome that. It's bound to put a massive strain on any relationship.
Edited by the_milkybar_kid at 13:08:34 08-05-2021
Edited by the_milkybar_kid at 13:09:11 08-05-2021 -
RGeefe 2,409 posts
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Registered 10 years ago@Technoishmatt you'll spit your tea out when I say I think £90k is pushing it for some of these places.
There's a nice enough 2 bed for £86k but the ground rent and service fees are about £2,000 a year.
This is why people in the north don't want HS2 -
elstoof 28,126 posts
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Registered 16 years agoPretty sure people in the north would quite like the value of their houses to rocket tbh -
RGeefe 2,409 posts
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Registered 10 years agoThen you've not spoken to them. Local facebook groups are getting flooded with requests from people south of Northants looking to move up, especially to the country. There's people outbidding locals by a good £30-40k in some areas. Absolutely fucks the market.
Same as Cornwall. -
Stuz359 492 posts
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Registered 16 years agoAs someone who lives in the North and not on the property ladder yet, I really don't want house price rises. -
elstoof 28,126 posts
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Registered 16 years agoOk so a northern homeowner would be cross if his 90k house suddenly jumped to 3x the value, cool -
RGeefe 2,409 posts
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Registered 10 years agoWell, yes, because if everything else has just jumped up the ladder and he can't move, while also killing the market below him, meaning he can't sell. -
elstoof 28,126 posts
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Registered 16 years agoIf the price goes up it’s because the market below has risen and lifted it. It’s not right for people waiting to get on the ladder but for those already on it there’s literally no negative side to your “asset” increasing in value -
RGeefe 2,409 posts
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Registered 10 years agoYou literally just made my point.
Also it's not the market below, it's people from areas with higher property prices for lower standard housing wanting to move because they can WFH a few days a week. This is something that HAS been happening because my partner has been looking to buy and found the properties are being snapped up on average of 4 days on the market, due to this very thing - as confirmed by numerous people in the area.
Now think about how many of those people are now priced out of buying in the area they're from and understand. I'm struggling to see how you think people in the north should be pleased about this? -
Technoishmatt 5,366 posts
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Registered 7 years agoHigher prices also means higher stamp duty... I mean, I think we paid as much stamp duty as there will be mortgages on those properties, and that's money pissed up the wall / paying for the NHS / renovation of Boris' flat. -
elstoof 28,126 posts
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Registered 16 years agoI’m confused about what your point is?
Let’s have a look at Dave, now Dave bought his house in Rotherham for 90k a few years ago, now a load of southerners are looking to move in the area and they’ve driven the value up to 300k. Why would Dave be upset? If he wants to move within the same area he has the increased assets to do so, if he wants to downsize he has a much bigger nest egg than previously. -
Zomoniac 10,628 posts
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Registered 17 years agoBut Dave was going to sell his 90k place and buy a 200k place up the road. He sells his 90k place for 270k, but the 200k place is now 600k and he can’t get a mortgage for it. Unless you are downsizing I don’t see why prices going up is ever a good thing. -
Stuz359 492 posts
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Registered 16 years agoIt's literally the only type of inflation (some) people cheer on. -
Stuz359 492 posts
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PazJohnMitch 17,276 posts
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Registered 14 years agoZomoniac wrote:
It doesn’t really work like that. Even though the cheapest place tripled the more expensive one is likely to grow by a smaller multiplier as prices seem to all rise together. This makes the barrier to entry harder but moving within the market once you are on the ladder does not seem to be as difficult.
But Dave was going to sell his 90k place and buy a 200k place up the road. He sells his 90k place for 270k, but the 200k place is now 600k and he can’t get a mortgage for it. Unless you are downsizing I don’t see why prices going up is ever a good thing.
If the 90k place increased to 270k then the 200k place would be more like 400k to 475k.
Edited by PazJohnMitch at 16:11:09 08-05-2021 -
RGeefe 2,409 posts
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Registered 10 years agoOk, so Dave bought a starter home with the intention of having a baby and then moving up but now much of the property around him is more expensive, his wages haven't matched that increase and he also has childcare.
The bank are limiting what he can loan so he's now faced with either -
- staying in that house
- moving to a different area with shitter amenities and schools
Dave shouldn't have to be fighting for property with people from over 100 miles away who can sell their 2 bed flat and buy the 3 bed he wants outright. -
bzzct 2,518 posts
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Registered 18 years agoZomoniac wrote:
Also Dave's children can't buy houses because instead of buying £90k houses on their £25k salaries they're trying to buy £270k houses on their £25k salaries. Therefore they're all stuck living with Dave.
But Dave was going to sell his 90k place and buy a 200k place up the road. He sells his 90k place for 270k, but the 200k place is now 600k and he can’t get a mortgage for it. Unless you are downsizing I don’t see why prices going up is ever a good thing.
This makes Dave sad. -
PazJohnMitch 17,276 posts
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Registered 14 years ago@RGeefe
Why not? Why can’t people from elsewhere move in?
I understand issues with outside investors buying properties to rent out but not people from elsewhere that actually want to move into the area. If no one is allowed to move in then no one is going to start new business in the area and the places will just decline.
Edited by PazJohnMitch at 16:34:04 08-05-2021 -
ibenam 3,508 posts
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Registered 14 years agoBloody hell, Dave has a lot of properties
Driving up the house prices by himself the scumbag -
askew 24,121 posts
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Registered 16 years agoZuluHero wrote:
You!
That's OK 😅 -
richardiox 10,099 posts
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Registered 17 years agoelstoof wrote:
Because the place he'd be buying would also have skyrocketed.
I’m confused about what your point is?
Let’s have a look at Dave, now Dave bought his house in Rotherham for 90k a few years ago, now a load of southerners are looking to move in the area and they’ve driven the value up to 300k. Why would Dave be upset? If he wants to move within the same area he has the increased assets to do so, if he wants to downsize he has a much bigger nest egg than previously. -
SnackPlissken 3,512 posts
Seen 3 days ago
Registered 4 years agoPut in a fair offer today even considering the inflated prices. They rejected it and the agent told us.. they have some flexibility. Ok I said what flexibility? I have put in another offer to find out. Going to phone Monday and say £500 more just because I can’t be arsed with this shit. -
Technoishmatt 5,366 posts
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Registered 7 years agoHow much below asking? How long on market? -
SnackPlissken 3,512 posts
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Registered 4 years agoIt was 8 below and been on for a month. It’s highly priced anyway so I’d rather knock a chunk off if we’re going for it.
I’m actually curious how banks are dealing with these high prices. I was buying a house about 5 years ago and the bank valued it 10k less than it was worth so I had to cough up the 10 if I wanted it.. went back to the agent and said what happened, then they said go with another bank as the seller isn’t budging. Ugh houses suck. -
PazJohnMitch 17,276 posts
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Registered 14 years agoThe most common tactic to get a price drop is to ask for a reduction after the survey by listing the house’s faults and the price to fix them.
Edited by PazJohnMitch at 10:02:06 09-05-2021 -
A month isn't really that long on the market.
If it's over priced and the sellers are refusing to budge it will remain on the market for months.
The fact that they have an offer close (I assume less than 10% out) signals to them that the market is very close to being able to make their price, so their price isn't entirely unreasonable. That would be my take on it anyway if I were the seller.
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