Is there snobbery in house buying?

[Bonaparte]

If people were not always so concerned with "whats the most i can borrow on my salary" then people would actually be a lot better of

 

It makes perfect sense to max out on a mortgage as mortgage finance is the absolute cheapest form of borrowing available to man. Therefore you are using the banks money to accumulate as much capital appreciation on your main home over time. The more the better.

 

It's totally ridiculous that fundamentals like this are not taught in schools.

[Solitaire]

I joined up because I saw this discussion and felt it was very unreasonable for people to say there is snobbery in house buying. Affordability is the number one driver of housing. People buy the best house they can afford which makes financial sense. Anything else is just hot air.

 

Nail on head at last: the NUMBER ONE driver, not the ONLY driver. Not everybody buys the best house that they can afford. I haven't!

 

S

 

---------- Post added 31-05-2015 at 18:12 ----------

 

It makes perfect sense to max out on a mortgage as mortgage finance is the absolute cheapest form of borrowing available to man. Therefore you are using the banks money to accumulate as much capital appreciation on your main home over time. The more the better.

 

It's totally ridiculous that fundamentals like this are not taught in schools.

 

Yeah, that's OK until circumstances change and you can't keep up with the repayments. It does NOT make sense to max out; a bit of breathing space is wise. Trust me, I'm an accountant! Hopefully you're not a teacher if that's what you want to teach in school.

[Bonaparte]

Nail on head at last: the NUMBER ONE driver, not the ONLY driver. Not everybody buys the best house that they can afford. I haven't!

 

I thought we had agreed to disagree. I will always maintain that people buy housing where they can afford. If someone buys in a bad area or lesser affluent postcode, that is what they can afford.

 

---------- Post added 31-05-2015 at 18:21 ----------

 

 

Yeah, that's OK until circumstances change and you can't keep up with the repayments. It does NOT make sense to max out; a bit of breathing space is wise. Trust me, I'm an accountant! Hopefully you're not a teacher if that's what you want to teach in school.

 

People who can afford a detached house in a nice area shouldn't need the liquidity so won't need to sell or struggle to make payments if times get tougher.

 

And I would personally borrow £500,000,000 at mortgage rates if the banks would give it to me even if I only had a salary of £15K a year, wouldn't you?

[Solitaire]

I thought we had agreed to disagree. I will always maintain that people buy housing where they can afford. If someone buys in a bad area or lesser affluent postcode, that is what they can afford.

 

So, just to be clear ..... that theory applies to absolutely everybody? In your opinion?

 

I just don't understand where you get your evidence from. I'm telling you that I can afford a larger house in a more affluent area and, despite knowing nothing about me, you're disputing that. Why?

 

I work as an accountant. I'm single, have no children and have inherited property and other assets. Would you not agree that it's probably likely that I can afford a larger house?

 

S

 

---------- Post added 31-05-2015 at 18:26 ----------

 

I thought we had agreed to disagree. I will always maintain that people buy housing where they can afford. If someone buys in a bad area or lesser affluent postcode, that is what they can afford.

 

---------- Post added 31-05-2015 at 18:21 ----------

 

 

People who can afford a detached house in a nice area shouldn't need the liquidity so won't need to sell or struggle to make payments if times get tougher.

 

And I would personally borrow £500,000,000 at mortgage rates if the banks would give it to me even if I only had a salary of £15K a year, wouldn't you?

 

Of course not but I don't NEED to do I? Why would I borrow £500m? What would I do with the money? Pop it in the bank with what's already there? What's the point?

 

Your theory might hold for most people but ..... I'm not most people: I don't want a bigger house and I don't need any more money!

[Bonaparte]

I'm telling you that I can afford a larger house in a more affluent area and, despite knowing nothing about me, you're disputing that. Why?

 

I work as an accountant. I'm single, have no children and have inherited property and other assets. Would you not agree that it's probably likely that I can afford a larger house?

 

So, you can afford a large house in a much more affluent area, you are an accountant, single, no dependants, have inherited property and other assets but choose to live in a terrace in S2.

 

As this is the internet, I totally believe you.

[Solitaire]

So, you can afford a large house in a much more affluent area, you are an accountant, single, no dependants, have inherited property and other assets but choose to live in a terrace in S2.

 

As this is the internet, I totally believe you.

 

What reason do I have to lie to you? How will it benefit me? Also, you keep referring to "as this is the internet". What does that have to do with anything?

 

S

 

---------- Post added 31-05-2015 at 18:33 ----------

 

What reason do I have to lie to you? How will it benefit me? Also, you keep referring to "as this is the internet". What does that have to do with anything?

 

S

 

Also, you seem to think that EVERYONE is driven by money and property. Are you not prepared to accept that there are those of us who are happy with the deal we got in life and would rather help others than pursue greater riches?

Edited May 31, 2015 by Solitaire

[Bonaparte]

What reason do I have to lie to you? How will it benefit me? Also, you keep referring to "as this is the internet". What does that have to do with anything?

 

Why do you care so much that I believe you. I believe you ok, are we cool now?

 

---------- Post added 31-05-2015 at 18:35 ----------

 

Also, you seem to think that EVERYONE is driven by money and property. Are you not prepared to accept that there are those of us who are happy with the deal we got in life and would rather help others than pursue greater riches?

 

I've never heard an accountant talk like this. EVER. Are you sure you're in the right career?

[Cyclone]

People concerned about heating costs can't afford a detached house in a nice area.

Demonstrably not true.

In Sheffield, being very close to the city centre is not a positive, we are not London or Manchester.

Also not true.

 

Small gardens are great for students and people without the means or will to maintain a larger garden.

Or the desire.

Very few terrace have a driveway. Burglary levels in Walkley are amongst the highest in the city.

http://www.crime-statistics.co.uk/compare/postcodes/S62PA+S64AA

Demonstrably not true. More burglaries in a postcode close to where I now live (I don't want to share my actual postcode), than the postcode where I previously lived.

The previous postcode was nearly all terrace houses, this postcode is nearly all detached.

Noise problems were a deciding factor why you chose to move.

Yes, a decade after we moved in our neighbours had a baby. For 10 years it wasn't a problem at all.

 

As soon as you could afford a detached house in a better area, you couldn't move quick enough and have probably never regretted that decision.

Not true. Like I said, the baby spurred us to move. We could have moved five years earlier.

I don't regret it, but nor do I agree with your comments about terraced housing.

[Bonaparte]

http://www.crime-statistics.co.uk/compare/postcodes/S62PA+S64AA

Demonstrably not true. More burglaries in a postcode close to where I now live

 

The crime rates in both those areas are very high. And the nature of those crimes and occurrence is scary. I wouldn't want to live in either of those areas based on those stats. A crime rate slightly better than apocalyptic hardly disproves my point does it. You are actually convincing me even more that my view is correct.

Edited May 31, 2015 by Bonaparte

[Solitaire]

Why do you care so much that I believe you. I believe you ok, are we cool now?

 

---------- Post added 31-05-2015 at 18:35 ----------

 

 

I've never heard an accountant talk like this. EVER. Are you sure you're in the right career?

 

Ah well, maybe now you have hit on something - and I can see where you're coming from. I enjoy being an accountant and I am good at managing my organisation's money. If I were to act for you in a professional capacity then I'd put your financial needs at the top of the list. So, yeah I think I do OK.

 

However, as I've got older I've had a bit of an epiphany if you will and realised that, in a world where billions don't get enough to eat, I am one of the lucky few. My life has been a breeze since day one: no real problems - well the usual unsuitable men looking for a girl with money - but nowt major. I have a loving family: mum and dad both still here, a gorgeous sister and an even more gorgeous niece. These are the important things to me.

 

I have enough to do the things that I want to do and I'm genuinely thankful for that. So now I do my bit to help others. I know who I am, know what I want and really don't feel the need to keep up with everyone else.

 

Like I've said, I'm a bit eccentric - my hair is shaved down to a number one and sports a wide variety of colours and patterns. But, just to counter any argument, it doesn't mean that I can't grow it - cos all girls want long hair, right? Wrong.

 

Did you see the little girl doing the martial arts on Britain's Got Talent? Her mum wanted a princess but she told her mum - and she's only nine - that "not every wee girl wants to be a princess".

 

Anyway, what I've told you is true and I'm prepared to put my right hand on the Bible and say it again - and I so wouldn't do that if I were lying.

 

There's always someone in life who doesn't fit the profile. And I'm one of them

 

It has been an interesting debate. I'm sure our paths will cross again.

 

Carrie (not the kind of girl you'd marry) xx