Would A Million Pound Gor Far?

[ECCOnoob]

1 hour ago, sedith said:

Not  a show off at all, the equity won't benefit me, just my son. If I sold my house I would have to pay more for a new property, plus stamp duty. The trouble where I live is the youngsters have no prospect of getting on the property ladder where 200k is considered affordable housing. I'm afraid its not affordable housing in my book! In  the south west wages are generally basic living wage, so on 10 quid an hour who is going to get a mortgage for 200k? Its all wrong.

Where exactly do you live? I don't believe that every single property is 200k plus.   Even in the heart of central London, ordinary workers on modest salaries still manage to find somewhere to live. It might not be right in the heart... it might not be a three bedroom detached with Garden at the back. However,  it will certainly be sufficiently habitable and a reasonable commute away. Everyone has to cut their cloth appropriately.

 

It's no different to any other big city in the country.  Heart of town, extremely popular areas = high price tag. The outskirts and lesser popular areas = lower price tag. It's hardly a new concept.

 

Unless you are one of the lucky privileged few, everyone starting out on the property market has to buy what they can afford and work up. Nobody's owed a property in the best areas just like that. 

 

It's strange, you seem almost resentful that you're asset investment in property has gone up over the years. Surely wouldn't want it to simply stagnate and stay the same value. You could choose to benefit from that profit right now. You could sell up and buy down elsewhere cheaper and then use the surplus money for something else. Instead you seem to be choosing to leave it as benefit for your children who in turn will then get their own very good boost on the property market ladder.

 

That is still a benefit from that profit you made. I don't see what's so 'wrong' about it. If you really want to level the playing field sell up, donate to the community and leave them nothing.

Edited May 2, 2022 by ECCOnoob

[hackey lad]

3 hours ago, sedith said:

Not  a show off at all, the equity won't benefit me, just my son. If I sold my house I would have to pay more for a new property, plus stamp duty. The trouble where I live is the youngsters have no prospect of getting on the property ladder where 200k is considered affordable housing. I'm afraid its not affordable housing in my book! In  the south west wages are generally basic living wage, so on 10 quid an hour who is going to get a mortgage for 200k? Its all wrong.

Was only kidding 

[sedith]

On 02/05/2022 at 17:18, ECCOnoob said:

Where exactly do you live? I don't believe that every single property is 200k plus.   Even in the heart of central London, ordinary workers on modest salaries still manage to find somewhere to live. It might not be right in the heart... it might not be a three bedroom detached with Garden at the back. However,  it will certainly be sufficiently habitable and a reasonable commute away. Everyone has to cut their cloth appropriately.

 

It's no different to any other big city in the country.  Heart of town, extremely popular areas = high price tag. The outskirts and lesser popular areas = lower price tag. It's hardly a new concept.

 

Unless you are one of the lucky privileged few, everyone starting out on the property market has to buy what they can afford and work up. Nobody's owed a property in the best areas just like that. 

 

It's strange, you seem almost resentful that you're asset investment in property has gone up over the years. Surely wouldn't want it to simply stagnate and stay the same value. You could choose to benefit from that profit right now. You could sell up and buy down elsewhere cheaper and then use the surplus money for something else. Instead you seem to be choosing to leave it as benefit for your children who in turn will then get their own very good boost on the property market ladder.

 

That is still a benefit from that profit you made. I don't see what's so 'wrong' about it. If you really want to level the playing field sell up, donate to the community and leave them nothing.

West Somerset, 8 miles from north Devon; not a lot around here sub 200k. HPC keeps the market buoyant around here. Looking at Sheffield on Rightmove there is not a deal sub 200k. Not where you would consider living. 

[ECCOnoob]

4 hours ago, sedith said:

West Somerset, 8 miles from north Devon; not a lot around here sub 200k. HPC keeps the market buoyant around here. Looking at Sheffield on Rightmove there is not a deal sub 200k. Not where you would consider living. 

Well I think that says far more about you. You clearly have very expensive or snobbish tastes.

 

A few seconds search on Rightmove and I found over 1000 properties for sale under 200k including very popular areas such as Walkley, Woodseats, Hillsborough, Chapeltown,  Abbeydale, Totley, Kelham Island and dozens of city centre apartments.

 

Even in your own area, whilst I agree there is limited big cities which is always going to have an impact on the available housing market and jobs, a rough and ready search around West Somerset still located nearly 250 properties for sale under £200k.  Assuming also like many young people living out "in the sticks" many will ultimately travel elsewhere for work or study or upon graduation  settle down in bigger more populous areas. Such trends have been happening for years.

[sedith]

19 hours ago, ECCOnoob said:

Well I think that says far more about you. You clearly have very expensive or snobbish tastes.

 

A few seconds search on Rightmove and I found over 1000 properties for sale under 200k including very popular areas such as Walkley, Woodseats, Hillsborough, Chapeltown,  Abbeydale, Totley, Kelham Island and dozens of city centre apartments.

 

Even in your own area, whilst I agree there is limited big cities which is always going to have an impact on the available housing market and jobs, a rough and ready search around West Somerset still located nearly 250 properties for sale under £200k.  Assuming also like many young people living out "in the sticks" many will ultimately travel elsewhere for work or study or upon graduation  settle down in bigger more populous areas. Such trends have been happening for years.

How can I have expensive or snobbish tastes, I was brought up on the Lowedges, ha, ha. I am certainly not a snob. You can pick up a property in Bridgwater sub 200k, but who hell wants to live there? Bristol in a nice area you are talking over half a million plus for an apartment in say Portishead Marina, Clifton, Long Ashton, Clevedon, Nailsea etc. The nearer the coast you get the higher the price. Same in Sheffield the prices have gone through the roof. As for London and the south east, forget it. You would struggle to get a terraced property within the M25 for a million. Most people who live in London rent, not buy. Same here in Somerset, the local youngsters simply can't afford to buy, most of them living in Magna Housing Association properties. West Somerset is a stronghold of the Conservatives; many of the residents are over retirement age. Old Money TBH. They come down from London after selling their property in the south east and see a 4 bed det house for 600-700kk and that's a bargain, we'll have it, even if we don't live in it, just holiday there. I could never return to the north as it would be a one way ticket; I don't want to move back up to the Sheffield area TBH.

[HeHasRisen]

Yes nice try, thats obvious spam.

 

Post reported.

[RollingJ]

4 minutes ago, HeHasRisen said:

Yes nice try, thats obvious spam.

 

Post reported.

It is, and I beat you to it.

[RollingJ]

2 hours ago, HeHasRisen said:

Yes nice try, thats obvious spam.

 

Post reported.

 

2 hours ago, RollingJ said:

It is, and I beat you to it.

These two posts refer now a now-deleted spam post, not the above one.