juanchan Posted August 14, 2007 Author Share Posted August 14, 2007 I think so. I'm sure my mate used to go mountain biking up that way and he said it wasn't the best area! I don't really know Soton to the west of the common, apart from Shirley high Street unfortunately. Link to comment Share on other sites More sharing options...
Homer Posted August 14, 2007 Share Posted August 14, 2007 We all have to start somewhere though and with todays prices, first time buyers have to accept moving to rougher areas. I moved to a bad part of Reading (Whitley) just to get on the market, it was that, a bedsit or a trailer park. I think I made the right choice and have seen my equity grow £60k in 3.5 years (It's tough when you're on your own) Up and coming areas are those to invest in, particularly in the south of the country. Link to comment Share on other sites More sharing options...
juanchan Posted August 14, 2007 Author Share Posted August 14, 2007 We all have to start somewhere though and with todays prices, first time buyers have to accept moving to rougher areas. I moved to a bad part of Reading (Whitley) just to get on the market, it was that, a bedsit or a trailer park. I think I made the right choice and have seen my equity grow £60k in 3.5 years (It's tough when you're on your own) Up and coming areas are those to invest in, particularly in the south of the country. Some of the older guys at work look at me with that "why would you ever want to live there" look, but I actually quite like it. I'll probably be in this place for a while to come, so let's hope I can see a similar equity growth rate! Link to comment Share on other sites More sharing options...
Homer Posted August 15, 2007 Share Posted August 15, 2007 Some of the older guys at work look at me with that "why would you ever want to live there" look, but I actually quite like it. I'll probably be in this place for a while to come, so let's hope I can see a similar equity growth rate! I doubt you'll see the same growth some of us have seen in the last few years. However you're far better off spending your money on your own place than paying for someone else's mortgage. Every extra thousand you reduce your capital by each year makes a siginificant saving on your monthly interest, especially as they're on the up right now. Link to comment Share on other sites More sharing options...
Jake Posted August 15, 2007 Share Posted August 15, 2007 Does anyone know how much it would cost to pay off a 100k mortgage over 25 years at the current interest rate? I bet it's loads more than a lot of people think. (I don't know how much it is but say 250k wouldn't surprise me) Link to comment Share on other sites More sharing options...
Homer Posted August 15, 2007 Share Posted August 15, 2007 Does anyone know how much it would cost to pay off a 100k mortgage over 25 years at the current interest rate? I bet it's loads more than a lot of people think. (I don't know how much it is but say 250k wouldn't surprise me) My £120k mortgage is costing £1250 PM with 23 years left. The interest alone is £748 PM. At a rough calculation it's going to cost £345k to pay back provided interest rates stay as they are. Link to comment Share on other sites More sharing options...
Pot Posted August 15, 2007 Share Posted August 15, 2007 Omg Link to comment Share on other sites More sharing options...
MONKEYmark Posted August 15, 2007 Share Posted August 15, 2007 i just got my 1st house,a bit late in life but got to try.not the dream house i was after but that was out in pontefract.was real nice house with 23 meter back garden.decided to buy a 3 bedroom house 20 houses from where im living now.its on main road but know its an ok area.better than been in a estate.the one i got was up for 105k got it for 103k.needs a bit of modernising.has a brand new roof.new kitchen.front garden has a drive.must have been done by a blind man. looking forward to moving.supra been put on back boiler till i get sorted.im doing it on my own too.will be hard but bet it will be worth it.dont know how u people down south cope.i should have got one years ago.u make your own mistakes. think i bought at peak so will be a few years before u see any gains.put an offer of 117k on the first house that was up for 119.995k he rejected it an said he would take 118k said its ok will continue looking.then put offer in house in leeds.the other house owner said i could have it for 116.995k £5 cheaper than the price i offerd. his house been up for sale 6 months.garden was amazing enough room for a double garage and workshop.he was selling his house and his g/f selling her big house and they were going to buy big detatched house. Link to comment Share on other sites More sharing options...
Jake Posted August 15, 2007 Share Posted August 15, 2007 116.995k Isn't that just a longer way of writing 116,995 ? Blimey though, houses are dirt cheap up there! Link to comment Share on other sites More sharing options...
juanchan Posted August 15, 2007 Author Share Posted August 15, 2007 Does anyone know how much it would cost to pay off a 100k mortgage over 25 years at the current interest rate? I bet it's loads more than a lot of people think. (I don't know how much it is but say 250k wouldn't surprise me) The way I was told to look at it was this: You borrow £100k with a 5% interest rate for example. Each month the interest will be approx £500. So if interest rates go to 5.25%, interest is £525/month, give or take. So with a capital repayment plan over 25 years, you're looking at about £700 a month for £100k as a minimum. The mortgage I'm on states "For every £1 you borrow, you will repay £2.65" or something equally ludicrous! Obviously making inroads into the capital earlier rather than later has a bigger impact on that figure, which is what I'm hoping to be able to do. Link to comment Share on other sites More sharing options...
Supragal Posted August 15, 2007 Share Posted August 15, 2007 As you're in Hants I'd offer to help with the curtain rails but I'm all DIY'd out at the mo... and I still haven't put my own curtains back up in the lounge or the bedroom yet!!!! Link to comment Share on other sites More sharing options...
Schtuv Posted August 15, 2007 Share Posted August 15, 2007 Dont know how you youngsters do it Sometimes I look back (flat owner for two years now) and fondly remember the times I could afford things like beer, food, new clothes, holidays, nights out, chewing gum, doughnuts, a full wine rack, etc.. I think it's worth it - not paying someone elses mortgage with my rent cheques is nice - but I do long for some 'mad money' to blow on stuff Link to comment Share on other sites More sharing options...
juanchan Posted August 15, 2007 Author Share Posted August 15, 2007 As you're in Hants I'd offer to help with the curtain rails but I'm all DIY'd out at the mo... and I still haven't put my own curtains back up in the lounge or the bedroom yet!!!! I may not own any power tools, but hopefully I'll survive putting up a couple of curtain rails! Thanks for the offer though! Sometimes I look back (flat owner for two years now) and fondly remember the times I could afford things like beer, food, new clothes, holidays, nights out, chewing gum, doughnuts, a full wine rack, etc.. I think it's worth it - not paying someone elses mortgage with my rent cheques is nice - but I do long for some 'mad money' to blow on stuff No doughnuts?! I'm currently trying to decide on holidays as I've been invited on 3 between now and next Easter and I'm only be able to afford one! Link to comment Share on other sites More sharing options...
Supragal Posted August 15, 2007 Share Posted August 15, 2007 Holidays? Link to comment Share on other sites More sharing options...
Schtuv Posted August 15, 2007 Share Posted August 15, 2007 No doughnuts?! OK - maybe not ... Tescos down the road sell them soooooooooo cheap at the end of the day, I still get doughnuts. Congratulations, by the way! Housewarming party for club members, did I hear? Link to comment Share on other sites More sharing options...
Schtuv Posted August 15, 2007 Share Posted August 15, 2007 Holidays? I've been wondering if I can book a couple of weeks off work here, and pick up two weeks of temp work somewhere ... that'd be good! Link to comment Share on other sites More sharing options...
juanchan Posted August 15, 2007 Author Share Posted August 15, 2007 Holidays? You can always afford one break a year! Even if it takes the next 12 months to pay for it... Congratulations, by the way! Housewarming party for club members, did I hear? I'd say go for it, but I'd rather not introduce the neighbours to a cacophony of singled Supras just yet Link to comment Share on other sites More sharing options...
MONKEYmark Posted August 15, 2007 Share Posted August 15, 2007 Isn't that just a longer way of writing 116,995 ? Blimey though, houses are dirt cheap up there!why say 1 word when 10 useless ones will do. its not bad for money.would not fancy paying £130k for a through terrace.better get something before its too late. whats wages like down south.im on about 30k a year.3 12 hour shifts a week and 1 sunday a month overtime Link to comment Share on other sites More sharing options...
Sheefa Posted August 15, 2007 Share Posted August 15, 2007 God this thread makes me feel sick. I am going to do EVERYTHING possible to get into the Forces and have my nice £250pcm accomodation! That'll do fine. Although apparently 10% of all ex-forces guys are now homeless - great. Link to comment Share on other sites More sharing options...
Guest GirlRacer! Posted August 15, 2007 Share Posted August 15, 2007 Hey congratulations on your first place mate! It's a cool feeling isn't it! (although the bills aren't so great but it's still so worth it!) Mortgages are just depressing if you think about them too much so don't worry!! You're doing the right thing - even if you can only afford tescos economy beer now, it's better than renting and paying for some greedy landlord's beer!!!!! Link to comment Share on other sites More sharing options...
juanchan Posted August 15, 2007 Author Share Posted August 15, 2007 Hey congratulations on your first place mate! It's a cool feeling isn't it! (although the bills aren't so great but it's still so worth it!) Mortgages are just depressing if you think about them too much so don't worry!! You're doing the right thing - even if you can only afford tescos economy beer now, it's better than renting and paying for some greedy landlord's beer!!!!! Why thank you My main worry isn't being able to afford bills, it's the potential of the Supra having to go as mine is simply a weekend toy, even if it is mechanically stock. I hadn't planned on jumping on the ladder just yet, but maybe in another year or two. If I'd planned it, I'd never have bought the Supra so soon. I just hope I can scrimp for a few months and struggle through on that Tescos own beer I've met the girl who's moved into the flat next to mine and she's renting off the guy who bought it. Her rent is nearly £200/month more than my mortgage!! You'll also all be pleased to know that I've successfully put up my first ever curtain rail this evening, without knocking any walls down, electrocuting myself or falling off chairs Link to comment Share on other sites More sharing options...
Charlotte Posted August 15, 2007 Share Posted August 15, 2007 Well done on the curtain rail. Are there any curtains on it? Link to comment Share on other sites More sharing options...
juanchan Posted August 15, 2007 Author Share Posted August 15, 2007 Well done on the curtain rail. Are there any curtains on it? They're being delivered by my parents next weekend as I shotgunned their old ones when they redecorated a couple of months back. I'm also getting their old 3-piece suite, so you don't need to bring sofa with your candle anymore! Link to comment Share on other sites More sharing options...
Charlotte Posted August 15, 2007 Share Posted August 15, 2007 They're being delivered by my parents next weekend as I shotgunned their old ones when they redecorated a couple of months back. I'm also getting their old 3-piece suite, so you don't need to bring sofa with your candle anymore! So, just beach towels for now then. Link to comment Share on other sites More sharing options...
juanchan Posted August 15, 2007 Author Share Posted August 15, 2007 So, just beach towels for now then. For the next 10 days, yep! Actually, can you bring any unwanted TV's that are 28" or larger please Link to comment Share on other sites More sharing options...
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