Topic: The 'Eeeek...buying/saving for a house' thread

[CraigDS]

Settling into the area alright?

Yeah it’s all good. Her family aren’t too far away, and we’ve a group of friends this way too so been pretty easy. Nice to be out of the city centre but still a few mins walk from loads of bars/pubs/restaurants.

[rob1966]

Yeah it’s all good. Her family aren’t too far away, and we’ve a group of friends this way too so been pretty easy. Nice to be out of the city centre but still a few mins walk from loads of bars/pubs/restaurants.

[Welshred]

Been in our new place just over a week now.

Place has been 90% decorated but he’s still finishing off the hall/landing. Will be good to not have to be up to let him in at 7.30am every morning. Although new kitchen isn’t due to go in until a few weeks, and then the place is getting a whole new roof at some point in Oct so we’ve got some disruption yet.

You've got a proactive landlord mate, just think how nice that place is going to be when everything is done. Will be worth a few weeks of disruption

[AndyMuller]

Been in our new place just over a week now.

Place has been 90% decorated but he’s still finishing off the hall/landing. Will be good to not have to be up to let him in at 7.30am every morning. Although new kitchen isn’t due to go in until a few weeks, and then the place is getting a whole new roof at some point in Oct so we’ve got some disruption yet.

7.30am isn't early you lazy bastard 

[CraigDS]

7.30am isn't early you lazy bastard 

It is for me 

[The G in Gerrard]

Missed out on a house yesterday too. Ticked most of the important boxes. We've been looking for 9 months now and this is only the 3rd place that's met the criteria for what we need. We offered nearly 40k above the asking price and missed out to a cash buyer.

Jesus 40k over the asking price.

[rob1966]

Jesus 40k over the asking price.

No wonder the housing market is fucked.

[The G in Gerrard]

No wonder the housing market is fucked.

Yep and still never got the property. It's absurd. The seller must be buzzing.

[rob1966]

Yep and still never got the property. It's absurd. The seller must be buzzing.

As is everyone in the area who was looking to sell. Buyers are crying.

[Riquende]

Yep and still never got the property. It's absurd. The seller must be buzzing.

It's possible it sold for less than that as it went to a cash buyer. When I bought mine we weren't the highest offer, but it was a cash purchase with no chain and the seller's main aim was to be moved before Christmas.

Having said that, a mate of mine a few months back had a buyer fall through for 225k, and less than a week later had multiple offers at 230, and ended up with a final bid of just over 240. He said before the process that he'd have been happy with 220. It's crazy times.

[rob1966]

It's possible it sold for less than that as it went to a cash buyer. When I bought mine we weren't the highest offer, but it was a cash purchase with no chain and the seller's main aim was to be moved before Christmas.

Having said that, a mate of mine a few months back had a buyer fall through for 225k, and less than a week later had multiple offers at 230, and ended up with a final bid of just over 240. He said before the process that he'd have been happy with 220. It's crazy times.

Back in the 90's mates of ours went to look at a house in Southport, these had been selling for £30k a few years earlier, they offered the asking price of £75k, the seller accepted the £95k offer someone else threw in.

[Mark Walters]

It's possible it sold for less than that as it went to a cash buyer. When I bought mine we weren't the highest offer, but it was a cash purchase with no chain and the seller's main aim was to be moved before Christmas.

Having said that, a mate of mine a few months back had a buyer fall through for 225k, and less than a week later had multiple offers at 230, and ended up with a final bid of just over 240. He said before the process that he'd have been happy with 220. It's crazy times.

That's the thing though, we aren't in a chain and the cash buyer is.  It was well below our budget and we have such specific requirements in terms of what we're looking for that we have to be prepared to go above and beyond. The asking price was actually "offers over..." so we knew we have to go over anyway.

I sold mine for 10k over but if we'd pushed it I could probably have got up to £30k over.  I just didn't want to be greedy, but my place was also unique in comparison to every other house on the market in the area.

[The G in Gerrard]

As is everyone in the area who was looking to sell. Buyers are crying.

Unless your a first time buyer the chances of good deals are dwindling.

[The G in Gerrard]

It's possible it sold for less than that as it went to a cash buyer. When I bought mine we weren't the highest offer, but it was a cash purchase with no chain and the seller's main aim was to be moved before Christmas.

Having said that, a mate of mine a few months back had a buyer fall through for 225k, and less than a week later had multiple offers at 230, and ended up with a final bid of just over 240. He said before the process that he'd have been happy with 220. It's crazy times.

Either one is a bonus to seller really.

Negotiation and not knowing what other buyer is after can be very frustrating.

[rob1966]

Unless your a first time buyer the chances of good deals are dwindling.

3 bed semis by me that need everythinh doing are selling for £285,000. Its nuts.

Could be worse, could live in the South. Mate in Surrey has seen his 3 bed semi go from £430k to £800k in about 10 years.

[The G in Gerrard]

3 bed semis by me that need everythinh doing are selling for £285,000. Its nuts.

Could be worse, could live in the South. Mate in Surrey has seen his 3 bed semi go from £430k to £800k in about 10 years.

I do live down South and it is shocking.

Five minute walk from me there's a corner property for £500k and it is awful from the outside with a badly damaged driveway and overgrown weeds /bushes.

I've seen properties that aren't worth writing home about being fully booked for appointments to view it hours after going online.

[Mark Walters]

I do live down South and it is shocking.

Five minute walk from me there's a corner property for £500k and it is awful from the outside with a badly damaged driveway and overgrown weeds /bushes.

I've seen properties that aren't worth writing home about being fully booked for appointments to view it hours after going online.

That's because people are looking for homes that they can shape themselves.  The last 2 places I've lived I've completely refurbished.  The last one was extended to have an open plan kitchen/living/dining space and a utility room. Did the garden and front driveway too. It was literally just 2 rooms downstairs when I bought it.

I always say, don't buy a house you can afford; buy a house you can afford to do up

[The G in Gerrard]

That's because people are looking for homes that they can shape themselves.  The last 2 places I've lived I've completely refurbished.  The last one was extended to have an open plan kitchen/living/dining space and a utility room. Did the garden and front driveway too. It was literally just 2 rooms downstairs when I bought it.

I always say, don't buy a house you can afford; buy a house you can afford to do up

Not looked at such properties myself. Want ones that are ready to move in.

Not sure I have the patience to do such projects.

[rob1966]

I do live down South and it is shocking.

Five minute walk from me there's a corner property for £500k and it is awful from the outside with a badly damaged driveway and overgrown weeds /bushes.

I've seen properties that aren't worth writing home about being fully booked for appointments to view it hours after going online.

Unlucky.

I used to work with a lad in the early 00's and he was furious back then that his house was "worth" £250k having paid far less than that for it, his words were "I live in fucking Hackney for fucks sake, houses in Hackney shouldn't be this expensive". I've also got relatives who paid £250k for a house in about 1997 in Hampshire, 200yard long driveway, 4 bed detached, sauna orchard and swimming pool, its at least £2 million now.

How did it get to this?

[The G in Gerrard]

Unlucky.

I used to work with a lad in the early 00's and he was furious back then that his house was "worth" £250k having paid far less than that for it, his words were "I live in fucking Hackney for fucks sake, houses in Hackney shouldn't be this expensive". I've also got relatives who paid £250k for a house in about 1997 in Hampshire, 200yard long driveway, 4 bed detached, sauna orchard and swimming pool, its at least £2 million now.

How did it get to this?

There is something wrong with flats down here whether two or three bed going for more than £250k to £400k as a norm.

Don't think such fortune where property prices have risen in your example will ever happen to future generations.

[rob1966]

There is something wrong with flats down here whether two or three bed going for more than £250k to £400k as a norm.

Don't think such fortune where property prices have risen in your example will ever happen to future generations.

Yeah, I was chatting to my mate who lives in Surrey and another mate has split from his missus and is buying near to him and its about £300k for a flat. Once my mates lad is finished at Uni, he's planning on moving back up here.

It should never have been allowed in the first place. I remember a lad at work was made up as he'd paid £85k for his house and it had jumped to £250k. I pointed out that if he wanted to move, the house he wanted that was £130k when he bought was now going to cost him over £350k, so in reality he'd be paying over £60k more than if house prices had stayed as they were, his kids were going to get saddled with huge deposits or 35 year mortgages and he'd only ever make money if he sold the house and went to live in a tent.

We've been really lucky and I'm so grateful in that, through generosity from her Dad and inheritance, we've managed to put £30k each away for the lads towards a deposit when they are ready to look at their own places, but how the fuck are most supposed to save that kind of money in enough time to be able to get a mortgage?

[Mark Walters]

There is something wrong with flats down here whether two or three bed going for more than £250k to £400k as a norm.

Don't think such fortune where property prices have risen in your example will ever happen to future generations.

I don't know what part of the south you are in but this is in NW London. https://www.redrow.co.uk/developments/colindale-gardens-colindale-442231/availability/plot2939 1 bedroom. £400k for a shoebox

[The G in Gerrard]

I don't know what part of the south you are in but this is in NW London. https://www.redrow.co.uk/developments/colindale-gardens-colindale-442231/availability/plot2939 1 bedroom. £400k for a shoebox

Aha. I viewed a one bed by a large roundabout in Sunbury once that was £415k.

Embarrassing.

[The G in Gerrard]

Yeah, I was chatting to my mate who lives in Surrey and another mate has split from his missus and is buying near to him and its about £300k for a flat. Once my mates lad is finished at Uni, he's planning on moving back up here.

It should never have been allowed in the first place. I remember a lad at work was made up as he'd paid £85k for his house and it had jumped to £250k. I pointed out that if he wanted to move, the house he wanted that was £130k when he bought was now going to cost him over £350k, so in reality he'd be paying over £60k more than if house prices had stayed as they were, his kids were going to get saddled with huge deposits or 35 year mortgages and he'd only ever make money if he sold the house and went to live in a tent.

We've been really lucky and I'm so grateful in that, through generosity from her Dad and inheritance, we've managed to put £30k each away for the lads towards a deposit when they are ready to look at their own places, but how the fuck are most supposed to save that kind of money in enough time to be able to get a mortgage?

Without financial assistance like what parents etc are doing for their kids. Younger generation is going to have it so difficult.

[Elmo!]

Come to Aberdeen where we have the opposite problem. It' way more affordable than it used to be but your property will probably drop in value after buying....

[Slippers]

Come to Aberdeen where we have the opposite problem. It' way more affordable than it used to be but your property will probably drop in value after buying....

Two years ago houses on the street where we used to live were going for £80k,that's less than we sold ours for in 2003.

Now they're looking for offers 'in excess of £165k' and people are queuing up to buy them.

[The G in Gerrard]

Come to Aberdeen where we have the opposite problem. It' way more affordable than it used to be but your property will probably drop in value after buying....

Think that will happen to flats down here. They are being built everywhere.

[Drinks Sangria]

Not having too much luck with the new house! Love the area and being surrounded by countryside, but this week the boiler went and we need a new one for a pretty penny, we've now had OpenReach out three times to sort the internet as there's been some undiagnosed problem. What it's turned out as being is that because our house was unoccupied for a few months before we moved in, they used our line to feed another house that had an actual line problem. Robbing Peter to pay Paul, so now we're without internet for another three days until hopefully it can be fixed on Monday.

I know it's first world problems but I work from home and our office is still to be built, so I'm driving an hour to my parents every morning until we get internet, which is then meaning I'm not around to help decorate on lunch times and after work etc.

We'll get there, just a bit stressy while my partner's starting a new job and is bearing the burden of all the DIY and decoration recently.

[CraigDS]

Diddums, 3 days.... I've not had internet since we moved in on the 1st as Sky/Openreach can't install it until the 23rd 

Ended up renting an unlimited data wireless dongle as we both work from home too.

[rob1966]

Not having too much luck with the new house! Love the area and being surrounded by countryside, but this week the boiler went and we need a new one for a pretty penny, we've now had OpenReach out three times to sort the internet as there's been some undiagnosed problem. What it's turned out as being is that because our house was unoccupied for a few months before we moved in, they used our line to feed another house that had an actual line problem. Robbing Peter to pay Paul, so now we're without internet for another three days until hopefully it can be fixed on Monday.

I know it's first world problems but I work from home and our office is still to be built, so I'm driving an hour to my parents every morning until we get internet, which is then meaning I'm not around to help decorate on lunch times and after work etc.

We'll get there, just a bit stressy while my partner's starting a new job and is bearing the burden of all the DIY and decoration recently.

Can you not hotspot off a phone? My lad has a 3 unlimited data contract and I use then when Virgin is down again.

[Drinks Sangria]

Diddums, 3 days.... I've not had internet since we moved in on the 1st as Sky/Openreach can't install it until the 23rd 

Ended up renting an unlimited data wireless dongle as we both work from home too.

3 days until install, coming up to 3 weeks without and since when they first visited to install. I do feel your pain though, shows how dependent we are on the internet and signal is dreadful where we live for cellular service.

Can you not hotspot off a phone? My lad has a 3 unlimited data contract and I use then when Virgin is down again.

Phone signal is dog shit unfortunately and drops in and out a lot, I get about 20GB but have to do a lot of uploading and video hosting for my job so I'd burn through that in less than a week.

[Claire.]

Get on the Starlink list

[The G in Gerrard]

Jeez. Seen some new builds that offer money towards the mortgage for 12 months & legal fees + other stuff. Surprising.

[LiamG]

Should have my completion date set soon, hopefully the 1st november! 😬

Do i need to sort out electric and gas before or when i get the keys? this is all new to me being a first time buyer haha

Water too, i assume they bill me automatically?

[Claire.]

From what I remember united utilities were informed we'd bought the house and I just organised payment over the phone for the water. I think it was similar for the gas/elec cos it's the same as when you move into anywhere, just take meter readings when you have the keys and things will get sorted out.

The only thing you have to absolutely have done by your move in date is buildings insurance.

[The G in Gerrard]

House hunting is a right pain in the backside.

[LiamG]

From what I remember united utilities were informed we'd bought the house and I just organised payment over the phone for the water. I think it was similar for the gas/elec cos it's the same as when you move into anywhere, just take meter readings when you have the keys and things will get sorted out.

The only thing you have to absolutely have done by your move in date is buildings insurance.

The same as house insurance then?

[redbyrdz]

Should have my completion date set soon, hopefully the 1st november! 😬

Do i need to sort out electric and gas before or when i get the keys? this is all new to me being a first time buyer haha

Water too, i assume they bill me automatically?

Get meter readings on the day you move in. Most suppliers have a special "just moved in" page to submit them, along with your name etc.

I'm not 100% how it works now, but think you should submit those readings to whoever the previous owners were with (should say in your house documents), but are then free to switch to whoever you want to be with. Could be that you can just switch straight away and don't have to bother with the old suppliers at all.

[Drinks Sangria]

House hunting is a right pain in the backside.

Not wrong. We're settled in our new place now, I do really like it. There's been some frustrations finding all sorts of bodged DIY jobs from the previous owner but it will get sorted. We've also finally got a builder coming round to quote for the work we want doing. Bizarrely, the house has been valued at £35k more than we paid for it. We moved in at the start of September and all we've done is paint the place and put in a new carpet in one room. Madness.

I've a mate who's lovely but a dozey fucker so I stay looking on the market as he's looking for something and has a very healthy budget for a single person and first time buyer, nothing's coming up though and it's as bad as it was earlier this year for houses going as soon as they're on the market.

[Claire.]

The same as house insurance then?

Yeah, there's buildings insurance (will be required to start on the day you get your keys and kept up as part of your mortgage) and contents which you might not need straight away if you're not moving straight in.