edd_t Posted June 18, 2007 Share Posted June 18, 2007 Woohoo, I've sold my flat I've had it up for £120k, a young first buyer turned up on Saturday, offerd me £110k. Which I declined. So then over the weekend it went up and down. And we have settled at £115k. Which is what I was expecting anyway. I bought the place 3 years ago for £84k. So have made a tidy profit of £31k Right, what shall I spend that on? Quote Link to comment Share on other sites More sharing options...
VELOCITY Posted June 18, 2007 Share Posted June 18, 2007 Single conversion, beer and loose women! get quite a few for £31k!! Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 18, 2007 Author Share Posted June 18, 2007 in that order? Quote Link to comment Share on other sites More sharing options...
Alan999 Posted June 18, 2007 Share Posted June 18, 2007 congrats mate, glad you got what you wanted aswell. Seems to be a pain to sell up at the mo. Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 18, 2007 Author Share Posted June 18, 2007 it is a pain. just had a look on rightmove and theres absolutly nothing i would want to move into either! looks like im kipping at mum and dads for a while. Quote Link to comment Share on other sites More sharing options...
Paul Posted June 18, 2007 Share Posted June 18, 2007 I bought the place 3 years ago for £84k. So have made a tidy profit of £31k Estate agents and solicitors free then are they? Take that off the amount and if you invest it into another property then that'll have gone up by a similar percentage so no real gain. Anyway, enjoy whatever Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 18, 2007 Author Share Posted June 18, 2007 grrrr yeh yeh. so im probably gonna be left with somewere between 10-15k! but thats enough for me Quote Link to comment Share on other sites More sharing options...
DaveK Posted June 18, 2007 Share Posted June 18, 2007 grrrr yeh yeh. so im probably gonna be left with somewere between 10-15k! but thats enough for me Not unless you got very expensive estate agents and solicitors. I paid £1800 to my estate agents when I sold my house for £134K, and my solicitor was about £600 I think. Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 18, 2007 Author Share Posted June 18, 2007 yeh but i was deducting the deposit for the next place too Quote Link to comment Share on other sites More sharing options...
Charlotte Posted June 18, 2007 Share Posted June 18, 2007 Damn I'll have to move my tent. Congrats on the sale. Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 18, 2007 Author Share Posted June 18, 2007 Damn I'll have to move my tent. Congrats on the sale. haha yup, sorry. you wont have to move far, im off to my mum and dads for a little bit. they have a nice big garden you can hide in, and if you're lucky dad will bring you a cuppa each morning!!! Quote Link to comment Share on other sites More sharing options...
Charlotte Posted June 18, 2007 Share Posted June 18, 2007 Ooo sounds better than the current situation. Will I get meals too? Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 18, 2007 Author Share Posted June 18, 2007 yes no doubt. Thursday is market day in the village, so hope you like fish. Quote Link to comment Share on other sites More sharing options...
Paul Posted June 18, 2007 Share Posted June 18, 2007 Fees for buying, fees for selling, mortgage payments over the three years any improvements/repairs. All this needs taking into account to get a realistic figure and quite often if you buy another then it would have risen buy a similar amount in the same period of time. Quote Link to comment Share on other sites More sharing options...
Guest andyj22 Posted June 18, 2007 Share Posted June 18, 2007 try a buy a place now for 84k Noooooo Quote Link to comment Share on other sites More sharing options...
dangerous brain Posted June 18, 2007 Share Posted June 18, 2007 Exactly. Your new found optimism will be shortly lived. I don't want to piss on your parade here but if you considered buying back the place you live in you'd find yourself about £5k out of pocket never mind if you wanted to upgrade. Unless you are prepared to take on a shitter of a property (which these days go for more money than the cost of repairing the place and its ticket price than its equivalent sorted place) you aren't getting an upgrade. So in answer to your question I would say you are gonna spend your profits on Rent chap. Quote Link to comment Share on other sites More sharing options...
Stevie Boy Posted June 18, 2007 Share Posted June 18, 2007 Congrats on the sale Edd! This property game is such a head fook, it's seems like every year the media kicks up a big fuss about a market crash and then nothing.... it's like they get told to make the same ol headlines each year. I finally bought my first little 2bed gaff back in Nov last year, took me years to recover from all the money i wasted renting, pay off uni debts and save enough deposit to afford a place i'd actually be happy with including a big enough garage to house the Supra (without having to sell the Supra!). Only problem is all my spare cash has been goin on home improvements so the Supra's been pretty much neglected modification wise but at least i've still got her and she stays clean not having to park out on streets of North London outside my parents house. Nearly got the place to where i want it now, fully decorated, new bathroom, unexpected boiler maintenance, landscaped garden,etc. Was quite pleased having bought it for £136k back in Nov '06 to see an identical property on my road in need of a few quid spending on it up for £155k, price rise of near enough £20k in 7months and i thought the market was meant to be slowing down. I did see dollar signs when i saw the price of the similar property, although I don't think i'd be able to stretch to the £155k so wouldn't be able to afford the place i'm in now if I sold up and started again! Quote Link to comment Share on other sites More sharing options...
markymark Posted June 18, 2007 Share Posted June 18, 2007 Well done Edd Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 19, 2007 Author Share Posted June 19, 2007 cheers guys my next place im getting with my GF. we're are looking upto £250k as we have enough for the 10% deposit between us (and i woould still have money to myself woot) but obviously any amount under that is better. All i want is a 2 bed place with a garage within walking distance of a train station. and so far its not looking too difficult to find Quote Link to comment Share on other sites More sharing options...
Stonkin Posted June 19, 2007 Share Posted June 19, 2007 Well done Edd mate just had a good read through this as i'm thinking of a mortgage come feb next year, but will most likely be doing it on my own, its so hard to know where to go for advice. Quote Link to comment Share on other sites More sharing options...
dangerous brain Posted June 20, 2007 Share Posted June 20, 2007 Oh woe is me that pours downheartedness on your circumstance. You do realise that the £10k you feel you can spend frivolously on whatever will in fact cost you well over £30k in interest payments if you choose to add that to a mortgage by spending your profits instead of re-investing it? Quote Link to comment Share on other sites More sharing options...
edd_t Posted June 20, 2007 Author Share Posted June 20, 2007 haha yeah but im young, and i want to enjoy my money whilst i can. i might get hit by a bus in a month and i'll be laying there thinking "why didnt i buy that HKS exhaust and new wheels" Quote Link to comment Share on other sites More sharing options...
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