House Buyers 2007.... Why? - Page 3

Lynnie_pitch nee Leigh · 11-11-2007, 10:52

As I am buying a house in 2007, the point is I want my own place, David and I want to set up on our own and we want to do that before getting married, just in case we decide we dislike each other. We eventually do want a family.

Our reasons to move now:
I want freedom, I’ve never lived away from home!! (NEVER!!). I want to live with David and share our lives together doing what we want, when we want and not having to tell anyone what we’re doing!
Want to live together for at least a year before getting married (yes we could change the date of the wedding but he can bugger off I’m not waiting until I’m 30 odd to get married!)
We eventually want to have kids
We want it to be ours and be able to do what the hell we want with the house

Buying a house does not suit everyone and if people are happy renting they should rent, if they want to buy now or later and can afford it, then that’s up to them

As for kids expecting to inherit houses, if my mum wanted to sell up and live in sheltered accommodation in later years and spend the money and whatever then that’s up to her I don’t expect to get anything from the house, if she leaves it to us that’s her decision. But I understand not all people take the same view as me when it comes to that kind of thing.

Basically the reasons to buy a house are personal and will differ from person to person, not everyone should buy a house. We are in the position now where we can afford a mortgage and there is a house we like up for sale. So we’re doing it now

lostkat · 11-11-2007, 11:48

I have to say, I look at the inheritance thing the same way as Lynnie does. My parents' house belongs to them, not me. They're the ones who've paid the mortgage for 30y years and I would never just expect them to leave it all to me and my brother. If I were them, I'd remortgage once I reached a certain age and spend the money on holidays and stuff. I've told them that as long as they don't leave us in debt, that's fine by me

They've dedicated their lives to bringing up their two lovely kids (see what I did there

), so they owe us absolutely nothing!

With regards to buying a hosue instead of renting, I have to say that a lot of it has to do with having your own place. I think sometimes that your heart rules over your head in these matters, and that it's not necessarily a bad thing. Renting was simply not an option for us. If we do go into another recession then we'll be in the same boat as a lot of other people and we'll just have to deal with it as and when. People managed to survive the last one!

goldilocks · 11-11-2007, 12:18

we rent.
the flat we live in is a large, 1 bedroom, flat, walking distance into the city centre, but on a quiet, leafy street in the south east of england.
a flat in our block, identical to the one we live in, was recently sold for £160k.
we could not get a 160k mortgage, but the price we pay to rent here, is less than half the monthly repayments on a mortgage of that value.

but i would love to buy - why?
here we can't put pictures up, change the carpets / curtains, and we haven't bought any of our own furniture, (because the sort of stuff we like really wouldn't look right here) we can't get any more pets, we don't have our own garden, a garage, and some evenings it's a fight for a place to park. realistically, we aren't going to be able to buy a place we like, in a decent area, and still have money left over for a social life - for a few years.

however - we're both young, i'm 21 and he's 22, i'm only 3 pay checks out of graduation and buying was not an option when we both moved out of the family homes.
for me, the most important thing was about living with him - we've moved 140 miles away from our families, got jobs, and moved in together - at the moment that's what it's all about.

jmc41 · 14-11-2007, 00:21

My back door has a smallish hole in it.
It had a hole it in when I moved in (April), in fact it had a hole in it before I moved it.

I'm fully expecting it to still have a smallish hole in it in 5 years time unless someone actually puts their boot through it first in which case it'll have a large gaping hole in it.

This is the same landlord who took over a week to come and repair the roof tile that had come loose. Oddly, I've never met my landlord and I've been here 8 months.

LeperousDust · 15-11-2007, 01:51

Quote:

Originally Posted by goldilocks

we rent.
the flat we live in is a large, 1 bedroom, flat, walking distance into the city centre, but on a quiet, leafy street in the south east of england.
a flat in our block, identical to the one we live in, was recently sold for £160k.
we could not get a 160k mortgage, but the price we pay to rent here, is less than half the monthly repayments on a mortgage of that value.

but i would love to buy - why?
here we can't put pictures up, change the carpets / curtains, and we haven't bought any of our own furniture, (because the sort of stuff we like really wouldn't look right here) we can't get any more pets, we don't have our own garden, a garage, and some evenings it's a fight for a place to park. realistically, we aren't going to be able to buy a place we like, in a decent area, and still have money left over for a social life - for a few years.

however - we're both young, i'm 21 and he's 22, i'm only 3 pay checks out of graduation and buying was not an option when we both moved out of the family homes.
for me, the most important thing was about living with him - we've moved 140 miles away from our families, got jobs, and moved in together - at the moment that's what it's all about.

That makes me feel like i'm doing something wrong here. I'm 21 and i'm back in my first year of uni... I do wonder sometimes...!

Davey_Pitch · 15-11-2007, 10:38

Quote:

Originally Posted by lostkat

With regards to buying a hosue instead of renting, I have to say that a lot of it has to do with having your own place.

Absolutely. I've moved around a bit in my life, lived with gf's and their parents, owned my own home with an ex, and rented a place with someone, and it's definitely better (for me at least) to own your own home. Knowing it's your home, and that you don't have to ask permission to do what you want in it, beats everything else in my eyes. It's why I can't wait until Lynnie and I move into our place

Goose · 15-11-2007, 19:16

I dread the day I make my move. As soon as I've paid of all my loans, I'll start looking at renting a place. I really love where I work, so I'll need to be in this area, which means silly prices.

Meds · 16-11-2007, 16:55

For me personally its all about what choice will mean i have more money in my pocket. In essence theres two ways you can look at this short term or long term. We bought a house in 2006, and thankfully houses prices in our area soared just after we bought it. So at that point in time in made sence.

2007 is altogether another matter though, as the market seems to be slowing down and based on current house prices a mortgage would be very hard to afford. And you would be unlikely to make money short term or long term.....

I say we all move to Mauritius!!!! Nice beaches, decent internet connection, Very good house prices....

lostkat · 27-11-2007, 00:23

Why you little...

Jonny69 · 30-11-2007, 13:25

Quote:

Originally Posted by Admiral Huddy

I agree with what Kaiowas says. When I look at my property and the mortage I have on it, it's nearly a third of what it would cost to rent. For example, my mortgage per month is £500 but next doors rent in nearly £1,400 per month. Yes, I bought it 10 years ago but if i had rented then, then the inflated cost of the rent would have cost me long term whereas the mortgage has remianed pretty much static.

However, I think anyone would be mad to move or buy at the moment. Not only is there the prospect of facing possible negative equity but to hand over all that hard earned cash in stamp duty.

That's the scary thing Huddy, if I were to buy the house next door to you tomorrow my mortgage would cost closer to £1800 per month. I don't know how much you earn but I could be earning a damn sight more than you and still not be able to afford to have kids, a pension or probably even run a car. This is the point Dym's making. It's fine if you bought a while ago but you'd be crazy to buy now.

You're in a very very lucky position to have bought when the market was flat on its face but it's right round the other way now. You have to put down such a huge deposit you face losing so so much right now.

11-11-2007, 10:52	#21
Lynnie_pitch nee Leigh Princess Mombi Join Date: Jul 2006 Location: Liverpool Posts: 2,098	As I am buying a house in 2007, the point is I want my own place, David and I want to set up on our own and we want to do that before getting married, just in case we decide we dislike each other. We eventually do want a family. Our reasons to move now: I want freedom, I’ve never lived away from home!! (NEVER!!). I want to live with David and share our lives together doing what we want, when we want and not having to tell anyone what we’re doing! Want to live together for at least a year before getting married (yes we could change the date of the wedding but he can bugger off I’m not waiting until I’m 30 odd to get married!) We eventually want to have kids We want it to be ours and be able to do what the hell we want with the house Buying a house does not suit everyone and if people are happy renting they should rent, if they want to buy now or later and can afford it, then that’s up to them As for kids expecting to inherit houses, if my mum wanted to sell up and live in sheltered accommodation in later years and spend the money and whatever then that’s up to her I don’t expect to get anything from the house, if she leaves it to us that’s her decision. But I understand not all people take the same view as me when it comes to that kind of thing. Basically the reasons to buy a house are personal and will differ from person to person, not everyone should buy a house. We are in the position now where we can afford a mortgage and there is a house we like up for sale. So we’re doing it now __________________ Please captain, not in front of the Klingons

11-11-2007, 11:48	#22
lostkat Good Cat Join Date: Jun 2006 Posts: 5,550	I have to say, I look at the inheritance thing the same way as Lynnie does. My parents' house belongs to them, not me. They're the ones who've paid the mortgage for 30y years and I would never just expect them to leave it all to me and my brother. If I were them, I'd remortgage once I reached a certain age and spend the money on holidays and stuff. I've told them that as long as they don't leave us in debt, that's fine by me They've dedicated their lives to bringing up their two lovely kids (see what I did there ), so they owe us absolutely nothing! With regards to buying a hosue instead of renting, I have to say that a lot of it has to do with having your own place. I think sometimes that your heart rules over your head in these matters, and that it's not necessarily a bad thing. Renting was simply not an option for us. If we do go into another recession then we'll be in the same boat as a lot of other people and we'll just have to deal with it as and when. People managed to survive the last one! __________________ Oooooh Cecil, what have you done?

15-11-2007, 19:16	#27
Goose The list is long, but distinguished Join Date: Dec 2006 Location: Århus, Denmark Posts: 1,643	I dread the day I make my move. As soon as I've paid of all my loans, I'll start looking at renting a place. I really love where I work, so I'll need to be in this area, which means silly prices. __________________

27-11-2007, 00:23	#29
lostkat Good Cat Join Date: Jun 2006 Posts: 5,550	Why you little... __________________ Oooooh Cecil, what have you done?

11-11-2007, 12:18	#23
goldilocks Abandoned Ship Join Date: Jul 2006 Posts: 335	we rent. the flat we live in is a large, 1 bedroom, flat, walking distance into the city centre, but on a quiet, leafy street in the south east of england. a flat in our block, identical to the one we live in, was recently sold for £160k. we could not get a 160k mortgage, but the price we pay to rent here, is less than half the monthly repayments on a mortgage of that value. but i would love to buy - why? here we can't put pictures up, change the carpets / curtains, and we haven't bought any of our own furniture, (because the sort of stuff we like really wouldn't look right here) we can't get any more pets, we don't have our own garden, a garage, and some evenings it's a fight for a place to park. realistically, we aren't going to be able to buy a place we like, in a decent area, and still have money left over for a social life - for a few years. however - we're both young, i'm 21 and he's 22, i'm only 3 pay checks out of graduation and buying was not an option when we both moved out of the family homes. for me, the most important thing was about living with him - we've moved 140 miles away from our families, got jobs, and moved in together - at the moment that's what it's all about.

14-11-2007, 00:21	#24
jmc41 Absinthe Join Date: Mar 2007 Posts: 1,070	My back door has a smallish hole in it. It had a hole it in when I moved in (April), in fact it had a hole in it before I moved it. I'm fully expecting it to still have a smallish hole in it in 5 years time unless someone actually puts their boot through it first in which case it'll have a large gaping hole in it. This is the same landlord who took over a week to come and repair the roof tile that had come loose. Oddly, I've never met my landlord and I've been here 8 months.

16-11-2007, 16:55	#28
Meds Drugs... NO! Wait! Join Date: Oct 2007 Posts: 25	For me personally its all about what choice will mean i have more money in my pocket. In essence theres two ways you can look at this short term or long term. We bought a house in 2006, and thankfully houses prices in our area soared just after we bought it. So at that point in time in made sence. 2007 is altogether another matter though, as the market seems to be slowing down and based on current house prices a mortgage would be very hard to afford. And you would be unlikely to make money short term or long term..... I say we all move to Mauritius!!!! Nice beaches, decent internet connection, Very good house prices....