Is now a good time to buy a house?

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  • Is now a good time to buy a house?
  • GEDA
    Member

    Yes, but he is the one with the asset, and you are the one paying for it. You are paying for his pension – very generous of you.

    Depends on how much his out goings are compared to the rent.

    wrecker
    Member

    4% depreciation

    ??? what is depreciating?

    ??? what is depreciating?

    The house, it’s in a row of similar ones, at the peak I think one sold for £120k, next door has now been on the market for almost 2 years at £100k and not sold, the one 4 doors down just sold for £55k (but requires a big chunk of renovation).

    Yes, but he is the one with the asset, and you are the one paying for it. You are paying for his pension – very generous of you.

    Actualy he’s paying mine, as the only person making money out of the whole bit of a mess att he moment is the bank, and odds are some of my pension fund is invested in their shares 😛 At some point they’ll have a house worth something and it’ll start making money, but untill then my rent doesnt even cover the depreciation and interest payments on that ‘asset’.

    Premier Icon binners
    Subscriber

    What’s the depreciation on a tank?

    trail_rat
    Member

    Woah – molgrips and me agree on something – whats next tj being wrong about something 🙂

    wrecker
    Member

    The house, it’s in a row of similar ones, at the peak I think one sold for £120k, next door has now been on the market for almost 2 years at £100k and not sold, the one 4 doors down just sold for £55k (but requires a big chunk of renovation).

    That’s only part of it’s life though. What if it had been bought in 2003 for £50K?
    To say that a property will depreciate over the term of a mortgage (20+ years) is not correct.

    To say that a property will depreciate over the term of a mortgage (20+ years) is not correct.

    I didn’t say it would, and historicaly house prices have generaly always gone up. So yes, at some point it’s reasnoble to assume that baring a zombie apocolypse* or Greece defaulting** house prices will rise in the long term.

    *leading to rampant inflation of the price of binners tank

    **let’s create a straw man argument here; causing a banking crisis and they’ll need money from somewhere, my landlords ‘asset’ for example, leading to higher rates and lower prices as houses get re-possessed………..

    10pmix
    Member

    Funnily enough I am in the Daily Mail today in a feature on mortgages and house buying. We’ve made provision for the end of our fixed term but definitely thought it was a good time to buy given good deals that were around and wouldn’t be for long(proved right I think).

    http://www.thisismoney.co.uk/money/mortgageshome/article-2143091/New-mortgage-rates-rise-lenders-seek-shore-battered-finaances.html

    So what’s the mail’s conclusion? Buy now and save on the repayments for the fixed period with a low intrest rate. Or not buy now and save on the repayments as the house will be cheeper to start with?

    I want a tank.

    King-ocelot
    Member

    🙁 moving in delayed by another week again. Solicitors 🙁

    breatheeasy
    Member

    Thisisnotaspoon – For the landlord figures you need to subtract £2000 for payment off capital (I.e. He’s payed off a portion of the mortgage). Eventually the landlord will stop paying the mortgage whereas you will continue paying rent and he/she will have a 100k asset (even assuming no growth in house price).

    Short term rental ‘view’ against long term houseowner view. That’s probably the difference, and depends on your outlook.

Viewing 11 posts - 41 through 51 (of 51 total)

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