Is there snobbery in house buying?

[Onthetyne]

I'd go as far as to say that most "young professionals" do live in terraced houses. It's those of lower social standing who desperately chase the 3-bed semi with a driveway dream...

 

---------- Post added 01-06-2015 at 10:39 ----------

 

 

So you're boasting about being from of an age when you were lucky enough to be able to buy a house without a mortgage? Well aren't you special. How arrogant.

 

No , i am making the point that it pays to buy well within budget and not look down on houses/places

[Mister M]

No , i am making the point that it pays to buy well within budget and not look down on houses/places

 

I think lots of people will agree with that - particularly in light of what's happened with the credit crunch in America before 2007/8!

However that feels miles away from your opening post!

 

 

Ok this isnt just limited to Sheffield but after seeing a post where someone said they were a young professional and wanted some where to live suitable for a young professional, it made me think that people are such snobs when it comes to buying a house

 

Rather then trying to live within their means properly they over spend just so they live in the right post code!

 

Oh dear how awful would it be for a "young professional" to have to go and live in a house in wooodhouse!!!

[Bonaparte]

Hell I hope that attitude is never taught in schools.

A rise in interest rates, redundancy, illness and your house is gone & your life is rocked.

 

I hope you never transfer this financial ignorance and fear to young people. It's a good job the successful and wealthy don't think like this otherwise there wouldn't be any money to pay your benefits.

 

maybe you're just a slapdash risk taker, putting your family at risk,

maybe you're just challenged in the common sense dept

 

House prices on our small Island will only ever go up. Look back since records began. As mortgage debt decreases the value increases, if that seems high risk to you, it is your family being put at risk. A terraced house is supposed to be an affordable starter home. There are rungs to a property ladder, you're not supposed to get on the bottom one and then cling to it for dear life. This is not snobbery. Such small minded thinking here.

[Cyclone]

I hope you never transfer this financial ignorance and fear to young people. It's a good job the successful and wealthy don't think like this otherwise there wouldn't be any money to pay your benefits.

So your answer to a valid point about financially stretching yourself is to attack the person who made the most?

 

 

House prices on our small Island will only ever go up. Look back since records began.

I just looked as far back as 2007 and found a large price drop.

As mortgage debt decreases the value increases, if that seems high risk to you, it is your family being put at risk.

If you've maxed out what you can borrow, have little in the way of savings and suffer some kind of financial shock, then I'd say it was high risk.

A terraced house is supposed to be an affordable starter home. There are rungs to a property ladder, you're not supposed to get on the bottom one and then cling to it for dear life. This is not snobbery. Such small minded thinking here.

 

You've got some funny ideas. Look at these "starter homes" in London.

The entire area ONLY lists terraced housing.

The cheapest one is £575k, and the most expensive is £27 million.

 

http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E87526&insId=1&radius=0.0&minPrice=&maxPrice=&minBedrooms=&maxBedrooms=&displayPropertyType=houses&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false

 

Wouldn't want to hang onto that first rung for too long though, one has to have a detached house, don't you know.

[Bonaparte]

I just looked as far back as 2007

 

I stopped reading at 2007, I know you're not this dim so it's a pretty terrible attempt at baiting.

 

Look at these "starter homes" in London.

 

See my above comment and replace 2007 for London.

[hyper]

I hope you never transfer this financial ignorance and fear to young people.

not fear, not ignorance. Its called being being responsible and safeguarding your loved ones.

It's a good job the successful and wealthy don't think like this otherwise there wouldn't be any money to pay your benefits.

I admire people who have taken risks and succeeded in business and never begrudged them their wealth. I kinda hold the view that you make your own 'luck'. However, the downside is that such people often put money before people - like everything everything admirable, has an adverse side. I trust you are wise enough to acknowledge that.

Oh and what benefits am I currently being paid?

 

House prices on our small Island will only ever go up. Look back since records began. As mortgage debt decreases the value increases, if that seems high risk to you, it is your family being put at risk.

your mistake is not differentiating between capital wealth and cashflow wealth. At the end of the day if you cannot pay the mortgage in cash terms, you will end up not living there, even tho' the capital value of the asset is on the rise. Talk to the many builders who have gone bust building a clutch of houses for which they have had no cash income, but bills to pay that week.

A terraced house is supposed to be an affordable starter home. There are rungs to a property ladder, you're not supposed to get on the bottom one and then cling to it for dear life. This is not snobbery. Such small minded thinking here.

depends whether your motivation is to accumulate as much wealth as possible, chasing money and end up with an obituary telling the world you have left £xx or whether you want to enjoy the life you have with less pressure. None are wrong or right, but to say its small minded of me, is well, small minded of you

[L00b]

Ok this isnt just limited to Sheffield but after seeing a post where someone said they were a young professional and wanted some where to live suitable for a young professional, it made me think that people are such snobs when it comes to buying a house

 

Rather then trying to live within their means properly they over spend just so they live in the right post code!

Now, how did you happen to know that this young professional was looking to snobbishly overextend themselves financially and jump into the Joneses keepy-uppy game with both feet, rather than be moving here soon and just asking for information about pockets of Sheffield where fellow young professional flock these days?

 

Your powers of divination, strong they are

Oh dear how awful would it be for a "young professional" to have to go and live in a house in wooodhouse!!!

or Page Hall

 

 

 

Oh yeah...I may well be wrong, but Bonaparte's prose and baiting style reminds me very much of Fernand's.

[Bonaparte]

not fear, not ignorance. Its called being being responsible and safeguarding your loved ones.

 

Not being able to distinguish between high risk and calculated risk is not safeguarding your loved ones. Your strategy is to hold on to that first rung property for life. It's not snobbery to want better for yourself and your family.

 

I kinda hold the view that you make your own 'luck'.

 

Yet you appear to be so scared even by low risk moves to create any luck. Let me guess, you've not had much luck?

 

Your mistake is not differentiating between capital wealth and cashflow wealth.

 

I'm not mistaken at all. We're not discussing investment rental cash-flowing property here. We are talking about personal home residence. For most people, their home never cash-flows, a constant liability where the only way to make big gains is to upgrade over time as values rise. The bigger you go, the bigger the gains.

 

At the end of the day if you cannot pay the mortgage in cash terms, you will end up not living there, even tho' the capital value of the asset is on the rise.

 

Better just stay in the terrace then, you'll be safe in the terrace.

 

Talk to the many builders who have gone bust building a clutch of houses for which they have had no cash income, but bills to pay that week.

 

For every negative story you have I've got a wonderful story. Strange that.

 

depends whether your motivation is to accumulate as much wealth as possible, chasing money and end up with an obituary telling the world you have left £xx or whether you want to enjoy the life you have with less pressure. None are wrong or right, but to say its small minded of me, is well, small minded of you

 

You're doing it again, all doom and gloom, the only way to achieve any gains is to chase money, to show off, to not enjoy life and sacrifice happiness. All complete small minded nonsense.

 

You're doing yourself no favours but that's not my problem I suppose.

[Longcol]

 

Oh yeah...I may well be wrong, but Bonaparte's prose and baiting style reminds me very much of Fernand's.

 

It's obviously a returning troll of some description or other - the number of genuine newbies that can use the multi-quote function is generally zero.

[Bonaparte]

It's obviously a returning troll of some description or other - the number of genuine newbies that can use the multi-quote function is generally zero.

 

I am a new member here but I don't mind being insulted and accused as long as people learn something. It's good to read different views.