Official Off Topic Discussion Thread #1

[FMA4ME]

Well im an official home owner as of today no more expensive rent or landlords for me , we've bought our first house

Congratulations Evz!!

 

[Evz jardini]

Thanks mate , we've got a lot of work to do but it'll be well worth it in the end for my family to live in and to make a few £ when we move on and upgrade

 

[pops]

Congrats!!! nothing better than owning your own home and a great investment.

 

[Evz jardini]

Thanks pops not quite as big as your place lol but its ours , and from an investment point of view its a great buy as all the people who buy to let pay way over the asking prices so they can charge over odds on rental , another property I bid on went for 10k over asking price

 

[pops]

I spent allot of years in a 1200sq house, and before that a condo we owned. 600sq ft. this over 30 years, you get there, : )

 

[pops]

funny, the condo we bought for 86k, I looked back a few months ago to see sale price now, 360k, crazy.

 

[skjl47]

Hello; I bought my first palce about six years ago. I do like owning a place. Have'nt saved any money yet.

 

[pops]

that depends how you look at it, you are earning equity,

 

[skjl47]

that depends how you look at it, you are earning equity,

Hello; I think I may be too old to need equity.

 

[Evz jardini]

funny, the condo we bought for 86k, I looked back a few months ago to see sale price now, 360k, crazy.

Sounds similar to property in my area , my parents bought there house 38 yr ago at £9k (it was a wreck though ) its now worth £500k insane inflation

I've done OK on mine got it for 120k its prob worth £145k as it is now once I put a third bed in loft and extend the kitchen i'll be looking at 180k ish , the previous owner paid £130k for it in 05.
Theres a bit of a story behind it , basically the previous owner lost it to his mortgage lender as he faulted on payments , our new letting agent gave us an 8wk eviction notice so the house could be sold , that came and went as we couldn't find anywhere else in that time so they gave us a court date (nice of them an extension on rent would have helped untill we found somewhere) so I managed to find the new owners contact details of land register and threw them a cheeky offer , that was declined so I threw them a more realistic one that was ignored , once the court was agurned as we owned no rent they got back to me and excepted my second offer
It has been a nightmare as finding a mortgage lender in UK these days is hard too , were both self employed so its high risk for lending from banks , had to find myself an independent lender that didn't mind the "hot books" I produced
But I'm on the property ladder now so its onwards and upwards