On Dealing with the Water board...
- Thread starter Tengu
- Start date
Mr Ed was right better a penny in the bank than a house loosing money.
1% interest is better than negative equity.
Remember the 19 80s?
We as a country are going to leave the EU. Nobody knows what that will bring. Jobs are hemorraging from the high street and other businesses despite the government trying to tell us we are in the best place we've been for a long while re unemployment. Even bridgend where the moot is held is about to loose thousands of jobs. If you loose your job you loose your mortgage loose your home house prices drop as they are repossessed and you have negative equity if you do manage to keep your job and paying a mortgage.
Better the money in the bank and buy again when prices drop.
I still say get an evaluation of the property now. Then at least you have a benchmark to make decisions from.
Ultimately it's your decision Tengu. Nobody can safely predict the way things will go. Talk to your dad and any other family you feel you can trust.
We can only give opinions here. You need proper advice and you start with an evaluation of the property.
The trouble with old houses is you decide to do one job and find three more that have to be done before you can complete job one. Money has to be spent you didn't budget for.
Please get proper advice as we could all tell you this or that and be totaly wrong.
1% interest is better than negative equity.
Remember the 19 80s?
We as a country are going to leave the EU. Nobody knows what that will bring. Jobs are hemorraging from the high street and other businesses despite the government trying to tell us we are in the best place we've been for a long while re unemployment. Even bridgend where the moot is held is about to loose thousands of jobs. If you loose your job you loose your mortgage loose your home house prices drop as they are repossessed and you have negative equity if you do manage to keep your job and paying a mortgage.
Better the money in the bank and buy again when prices drop.
I still say get an evaluation of the property now. Then at least you have a benchmark to make decisions from.
Ultimately it's your decision Tengu. Nobody can safely predict the way things will go. Talk to your dad and any other family you feel you can trust.
We can only give opinions here. You need proper advice and you start with an evaluation of the property.
The trouble with old houses is you decide to do one job and find three more that have to be done before you can complete job one. Money has to be spent you didn't budget for.
Please get proper advice as we could all tell you this or that and be totaly wrong.
The Oakmark family of mutual funds have treated me well over the long term, though they do fluctuate with the market. https://www.oakmark.com/oakmark/Media/Oakmark-at-a-Glance.htm
True but only up to a point. The people who lost in the 1980s were those whose property was under mortgage and the mortgage lenders) Property such as Tengu’s that was owned free of any liens or mortgage was safe and value returned in the long run. Also that was the best time to buy property for those who had the cash (the first part of the old adage “Buy low, sell high”
I agree buy low sell high. The thing is Tengu is struggling with the bills and upkeep of the fabric of the building itself. That's why she needs expert advice. We all can only speculate on the best course of action and what works at any time in the market has so many variables it's best guess and a punt . Some get lucky some don't. It's always a risk.
In the 80s a friend and I both bought houses 50 miles apart but in simular size towns and similar employment opportunities. They lost their house having to cut losses and hand back the keys and walk away or go bankrupt. I made 100%profit on mine. Hers was in good order mine was a train wreck having tried to diy all that needed doing... and failing.
In the 80s a friend and I both bought houses 50 miles apart but in simular size towns and similar employment opportunities. They lost their house having to cut losses and hand back the keys and walk away or go bankrupt. I made 100%profit on mine. Hers was in good order mine was a train wreck having tried to diy all that needed doing... and failing.
Tengu one important question nobody has asked is where in the UK is your house? What town?. Different areas behave differently in the housing market.
For instance take a simple 2 up 2 down terrace house. Take 3 different areas at the same time Southampton . Gloucester . And stoke on trent. One in Southampton was £200,000, the one in Gloucester was about £65,000 and the one in Stoke was £20,000. Location makes a difference.
For instance take a simple 2 up 2 down terrace house. Take 3 different areas at the same time Southampton . Gloucester . And stoke on trent. One in Southampton was £200,000, the one in Gloucester was about £65,000 and the one in Stoke was £20,000. Location makes a difference.
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The other important question is when you finish your degree where will you get a job? It's not good buying a house say in Devon if you get a job in say Bradford. .. just examples.
The issue isn't the bricks and mortar, it's the struggle and stress of the upkeep of the bricks and mortar vs a more suitable and affordable sized bricks and mortar, iimmc.
Listening to a program about house prices today I learned that houses in London have dropped by 4% house prices are only going up by 1%in the rest of the country. Money in the bank will be going up by the same amount if you find a bank with the same interest rate and you'll have no bills. Something to think about especially if your house is in bad repair as it will be depreciating not increasing in value.