but these cash investors are in it for the long game, its only the morgage stretched that suffer when the bubble bursts, there isn't single property that devalued in the 80's cash that doesn't have a zero or two on its value now.
Buying land?
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but these cash investors are in it for the long game, its only the morgage stretched that suffer when the bubble bursts, there isn't single property that devalued in the 80's cash that doesn't have a zero or two on its value now.
I just saw you wanted to plant trees. Missed that earlier.
When I first bought the land, the hedges surrounding it were severely derelict, and had spread inwards on the field. I cleared and tidied everything up. Had a couple of huge, fun bonfires!
I asked the local hunt society how they wanted the hedges, and followed their advice. The correct height, temoved all barbed eire and so on.
My motive was to gain friends locally.
I did plant about 50 fruit trees, closest to the road, but that became an expensive, worthless exercise as deer destroyed them. Tried to save what could be saved with a fence, but they jumped it.
As I wrote earlier, I did some unusual stuff without asking the Wealden council, when the next door Tv beatch told on me, they were fine about it.
But every council people are different, so it is better you ask! Cheaper that way.
The best tip I can give you - do things that restores the field and forest.
If anybody wonders eho the nast neighbour was - she was in the Silent Witness.
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I have a feeling that there are some tax benefits in woodland. No capital gains or inheritance tax liability?? So some owners may be using the land as a financial vehicle, and driving prices up that way. (What do they care how much land they get, if it's just the bit of paper they want!)
The last bit I looked at, was about an acre, on a local hillside (Dorset) and the guide price was £15k. A bit high for scrub land, right next to where the farmer puts his spoil heap from the mushrooms to fester. Excellent ham radio site though, which was what interested me.
Something that I came across when looking at land a while ago, that sporting rights don't always come with the land. I assume that these have been sold off when the plots were part of some bigger area. So although there may not be anything to hunt, someone else may have some rights on your property.
Things you can do: I also recall seeing something about being able to live on the land for so many days per year to do forestry work?? And being allowed to put up shelter for workers and tool storage.
Jules
The last bit I looked at, was about an acre, on a local hillside (Dorset) and the guide price was £15k. A bit high for scrub land, right next to where the farmer puts his spoil heap from the mushrooms to fester. Excellent ham radio site though, which was what interested me.
Something that I came across when looking at land a while ago, that sporting rights don't always come with the land. I assume that these have been sold off when the plots were part of some bigger area. So although there may not be anything to hunt, someone else may have some rights on your property.
Things you can do: I also recall seeing something about being able to live on the land for so many days per year to do forestry work?? And being allowed to put up shelter for workers and tool storage.
Jules
Do mushroom still grow on that used compost?
The seller should be able to tell you about the sporting rights. You can put a temporary shelter, nothing permanent. Sussex council told me - no concrete, no bricks and mortar, no nails.
So I made a shelter in the woodland. " A " frame construction, top beam made from a straight piece of thin trunk. Hold together with nylon rope. Reinforced tarp covered with thinn stems from the pruned hedges.
Fine branches ( thick layer) coveted with another tarp, so water proof and soft. Lasted for a couple of years, untill I sold the property.
The seller should be able to tell you about the sporting rights. You can put a temporary shelter, nothing permanent. Sussex council told me - no concrete, no bricks and mortar, no nails.
So I made a shelter in the woodland. " A " frame construction, top beam made from a straight piece of thin trunk. Hold together with nylon rope. Reinforced tarp covered with thinn stems from the pruned hedges.
Fine branches ( thick layer) coveted with another tarp, so water proof and soft. Lasted for a couple of years, untill I sold the property.
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Do you mean the crash of '08? I bought my house when I got back from England in the late 80s (1989 to be exact) My girlfriend in England (another GI stationed at RAF Fairford) bought one there as soon as she arrived intending to sell it when her tour was over. I don't remember any crash in the 80s (unless it occurred before we got there in '85?) In any case I certainly hope my house has appreciated since then (it's been nearly 30 years after all)
Some of the cash "investors" are in it for the long game. So what? I certainly hope that's the way it works; it's the fly by night scammers that usually cause the upheavals. Some of my old classmates from high school made, and still make a fair living "flipping" houses on their own (not corporations) but they also take risks with their money.
There was a crash in -94 or -95, bottomed out in -96 This is the year I moved to UK. We bought a house in Mayfield, East Sussex for £137K. Did it up a bit, for about £40K in total and sold it for around £400K in 2002. Bought a historic farm house ( pre Columbian to you US guys) for about £ 450K, spent about £100 K and sold it in 2006 when I moved to here.
For a big profit.
Raising house prices are goodf if you already live in a property, and I do not understand why people that already live in a property complain.
Hell for First Time Buyers of course. If you are unlucky to buy when prices are on a top and they they dip, you just hang on to that house untill you at least get back what you paid for it plus investments for fixing it up.
For a big profit.
Raising house prices are goodf if you already live in a property, and I do not understand why people that already live in a property complain.
Hell for First Time Buyers of course. If you are unlucky to buy when prices are on a top and they they dip, you just hang on to that house untill you at least get back what you paid for it plus investments for fixing it up.
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Nope, in the UK we had massive issues in the 80's
https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_United_Kingdom
21% interest rates and a lot of instability, in those days issues stayed pretty local now it tends to end up global.
I agree long term investment is good, except over here, in London at least property is being bought up by overseas investors a lot of which is with untaxed funds with dubious origins
Yes, I remember that one. Same in Sweden buy in yhe early '90, the state made the banks have an interest of over 500% on mortgages and other loans for a couple of weeks.
I remember because a friend "fixed" it for 2 years in fear of even higher interests. Everybody, even her bank manager tried to discourage her. All her friends, including us had to help her with food and so on.
I was lucky, was too poor and lived in a bedsit with my then fiancee, so no mortgage.
She is my wife now, and I have a mortgage!
Progress!
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Ok, that explains it then. I didn't get there until 1985. We had high interest rates here as well but the rest of the economy was doing pretty well. In fact I was riding prety high on those rates; my Credit Union (a member owned bank) was paying just over 12% on regular savings accounts and proper investors (I wish I had known enough back then to have gotten into a mutual fund) were making anywhere from 25% to 50%
The point about devaluing property is that it helps everyone, first time buyers can afford a house, those finding it hard can afford a mortgage (and are likely to be able to pay it in harder times ) and it affect everyone equally. It is understandable that some people feel they have a stake in tueir own little investment, but the issue here is a bigger one.FWIW I too own a home outright, but I feel very sorry for those who canmot get on the ladder, or who fall off it as they have overstretched themselves.
"The point about devaluing property is that it helps everyone"
Really? Just try it out on the royals, aristos, & tories!!!
Really? Just try it out on the royals, aristos, & tories!!!
" I have a mortgage! Progress!"
Hmm - and who makes most out of your mortgage? It's not YOU...
The whole system is rigged for the benefit of banks, investors, & shareholders.
Albert Einstein said something like this: compound interest is a wonderful thing
Hmm - and who makes most out of your mortgage? It's not YOU...
The whole system is rigged for the benefit of banks, investors, & shareholders.
Albert Einstein said something like this: compound interest is a wonderful thing
So, I pay X for house, using X of my capital or X++ if taking out a mortgage then the property I have paid X for is declared to be worth half X. Would half my money be returned or just lost? Typical nonsense, not socialism but sequestration. The fact that my hlf valued house could be swapped for another so reduced makes no allowance for, say, if the heirs wanted to sell
The old rule is: buy when low, sell when high. I have heard stuff like: my house have lost /3 of the value so I have to sell so I do not lose more money.
Duh?
You only lose money if you sell, the day to day value is irrevelant if you continue to own it!
True. Up to a point. But if that day to day value stays lower long enough, then the official value gets lowered also (the value on the tax rolls) so the property taxes go down accordingly.
The taxes aren't based on property values? So an empty lot is taxed the same as a mansion on the same size lot?
Parity from reducing the overall value of houses only applies to the purchase of another house. As said and very obvious, if someone wants, for example, equity release on their house then its reduced value means less cash available to them. Bit mean as savers have had rubbish interest paid on their savings anyway. Odd world we live in now, when we were scrambling to buy a house we complained about rising prices but there was no resentment for those in houses for which they very reasonably wanted the maximum returns.
Many, how sad, cannot buy a house because they spent money on going out and foreign holidays etc etc. Things we didn't do in order to afford and then sustain the purchase of a house. Then there are a lot of people in occupations who would never have even contemplated buying house years ago but feel that they ought to be able to. Good luck if they can manage it but it is not a right.
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