bought my flat...
...for 20K in 1995. Sold it last year for 100K.

Now renting and watching those prices drop like a rock while the intrest on my 100K pays my rent.

When people start talking about 'new paradigms' and 'it's not a bubble this time', sell.

I'm waiting for the 'house prices will never recover' headlines now.
(inflateable, Sat 2 Aug 2008, 20:34, 11 replies)

I did that too!!
Will never have to work again.oh wait,will probably have to as my cigarettes and booze bill seems to be larger than my rent vs interest. Be warned!or just see how it goes and enjoy the freedom?!
( Itsallsugar is made up of bits of names, Sat 2 Aug 2008, 21:11, closed)

Lucky bar stewards
I was in no such position to buy in 1995 being only 11. Sadly I bought last year which was possibly the worst time to. But it was either spend all the money I'd saved for a deposit on renting somewhere or stay with my parents. Neither a viable option! Luckily I don't plan on moving any time soon or I'd be up shit creek.
( El Lazarus is calm now, Ish,, Sat 2 Aug 2008, 21:29, closed)

@El Lazarus
Oh don't worry too much.Rest assured that i will be dead before you and you may have got a lodger by then to help with the mortgage....always look on the bright side eh?!
( Itsallsugar is made up of bits of names, Sat 2 Aug 2008, 21:39, closed)

Unless...
...we believe the media, in which case we'll all be living on the streets with our money worht nothing while the earth slowly burns to a crisp. Woop! Hehe the bright side for me is I have my own house, and that's good enough for me! Don't lodgers normally come with benefits? ;)
( El Lazarus is calm now, Ish,, Sat 2 Aug 2008, 22:24, closed)

El Lazarus
Well it depends what you offer 'the lodger'. Personally i'd be happy with a nice cuppa in the morning but i suspect you young people would expect more!!(a bacon sarnie mayhaps?!)Hey, don't believe all you read...you hang in there.....and good for you! ever the optimist! ten years time you'll be rolling in it. mark my words.ahem.
( Itsallsugar is made up of bits of names, Sat 2 Aug 2008, 22:30, closed)

lazarus..
..you should only ever buy a house to live in. Then the prices don't matter - it's your home.

Drives me mad when people say 'don't paint your living room purple, it'll affect the resale value!' Who gives a fuck, it's MY house, not the persons who one-day-I-might-sell-it-to.

I had no plan, I got lucky. A house is a home, not a fucking investment.
It's not like you can pull a chunk of plaster off the wall and go and buy a pint of milk with it anyway. The value of your house is meaningless until you sell it.
(inflateable, Sat 2 Aug 2008, 22:36, closed)

@inflateable
I got lucky too!16 years of joint ownership, purple walls and a 'feature' pond...then he left me!So not all positive equity has a positive side, but we have to make the most of where we've been and where we are going!Back to the fags and booze and accomodating lodgers now!!
( Itsallsugar is made up of bits of names, Sat 2 Aug 2008, 22:42, closed)

And repeat
just bought a farmhouse in Galica Spain for 40,000 euros.
( buffet_the_appetite_slayer ٩(●̮̃•)۶ jacked in to the ICE on, Sat 2 Aug 2008, 22:48, closed)

foreign properties
I purchased some premium bonds. I don't much care for the heat. Accomodating lodgers yes, but heat, no.
( Itsallsugar is made up of bits of names, Sat 2 Aug 2008, 22:52, closed)

@ Inflatable
I totally agree, it really annoys me when people say not to personalise your home. Wtf? It's MY home! If buyers can't see past a bit of paint then I think they're too thick to be buying a house.
( El Lazarus is calm now, Ish,, Sun 3 Aug 2008, 15:11, closed)

similarly
we recently sold up to rent. Had to get a bigger place for expanding family reasons but wasn't going to buy in this climate. Our old house has dropped in value since we sold it plus we are renting a house 3 times the size of our old one but paying the same each month.
( moogy boobles, Mon 4 Aug 2008, 9:26, closed)