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Cost of Living

Kenny said:
My shock at the pricing is based on similar or larger bungalows near by on the market for nowhere near the amount of this one.
The main difference is obviously the decor and how they have tarted the place up, as Dion Dublin would say, to a very high standard.

I just fail to see how that has added such an extreme amount on top.

Our house is now being valued next week by the same Estate Agents :D and if the value of my house hasn't doubled in just under 3 years, there will be riots* in Market Drayton




*Loud tutting and moaning like Wolf Hunting waiting for a parcel from the UK
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people overvalue what they already have in my experience.
 
To be fair to WH I was interested in a freehold garage close to one of the tube stations recently that was sealed bids only. Was ‘advised’ there had been lots of interest with several bids and an anticipated sale price significantly over the guide price.

Decided against getting involved in the bun fight and let it be. On the deadline day the bids were opened at 12.00 noon. Received a call at 12.20 asking if I was interested in making an offer.

I wouldn’t trust any of the ‘professionals’ as far as I could throw them.
 
b3h said:
@ bungalows, there's a lot less of them and people are living longer, pushing the prices up maybe?

I know someone who just paid nearly 500k for one in Haden Hill and I was shocked at the price
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Traditionaly bungalows have always been more expensive per m2 than 2 storey dwellings.
 
Paddingtonwolf said:
This never happens as they are always people looking for second and third property rental investment opportunities to scoop up loads of the more affordable end of the market.
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This and I hate it with a passion. It's fair enough that people do it but I still hate it
 
Loads of bungalows round my way have been extended upwards. Presumably cheaper than buying a house? Looks fucking shit...
 
BillyDee said:
Loads of bungalows round my way have been extended upwards. Presumably cheaper than buying a house? Looks fucking shit...
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My uncle did this, built in two bedrooms upstairs and knocked through the downstairs. Gave him a humongous kitchen and living room
 
Paddingtonwolf said:
The bubble needs to burst frankly. Wages can’t compete with property prices. Eventually enough buyers are priced out that the bottom should fall out.

This never happens as they are always people looking for second and third property rental investment opportunities to scoop up loads of the more affordable end of the market.
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What is even worse is the value of a property is underpinned by the yield to an investor. You can value a property just by looking at the Rental section on Rightmove and doing a few sums, flicking over to the same property on the For Sale page and you’re certain to be within a whisker each time. Anything around 5% and above and the would-be owner occupier has no chance.

There’s no doubt the removal of S21 will see-off (even more) investors helping somewhat, but fundamentally this is about government policy and the way homes are allowed to be traded as commodities.

I think it was Alan that suggested this is fundamentally the ugly side of capitalism and he’s right.
 
Trips said:
My uncle did this, built in two bedrooms upstairs and knocked through the downstairs. Gave him a humongous kitchen and living room
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Chap did that by my old house. Rendered it white and thought it looked really nice tbh.
 
BillyDee said:
Loads of bungalows round my way have been extended upwards. Presumably cheaper than buying a house? Looks fucking shit...
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Thing is it can cost an astronomical amount to move with stamp duty and other fees. Even for a modest house in some areas you could haemorrhage 40 or 50 grand just to move - that’s effectively dead money that you could pump into an extension on your old place.

You’ve got to be bloody sure a move to a different house/location is going to work out because moving back again will see you do the same amount a second time.

Big risks involved and not surprising extensions are so popular.
 
We fetishised home ownership ludicrously in comparison to most of mainland Europe - they really don't give much of a fuck about renting because the system broadly works - and let all the underlying structure (social housing, rent controls, house building) decay and collapse. It's such a mess.

I'm ok but that really isn't the point. I was only a roll of the dice here and there away from being totally fucked forever (as someone who's in his early 40s, red brick university educated, I'm not a total screw up, honest), that's just blind luck, and you can't operate like that.
 
EpsomWolf said:
Thing is it can cost an astronomical amount to move with stamp duty and other fees. Even for a modest house in some areas you could haemorrhage 40 or 50 grand just to move - that’s effectively dead money that you could pump into an extension on your old place.

You’ve got to be bloody sure a move to a different house/location is going to work out because moving back again will see you do the same amount a second time.

Big risks involved and not surprising extensions are so popular.
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This is the way I need to go when my fiancée moves up, with five kids between us we need a lot of rooms. I looked at four bedroom houses but absolutely balked at the £400k+ price tags. The mortgage would cripple me. She only rents so no equity to leverage. So the only option is for me to extend what I’ve got.

I’m lucky that I have quite a bit of equity in this place that should cover the work (and make a huge difference to the value in turn) given its value has increased by 50% in 18 months. I don’t want to live through the work but needs must.
 
Deutsch Wolf said:
We fetishised home ownership ludicrously in comparison to most of mainland Europe - they really don't give much of a fuck about renting because the system broadly works - and let all the underlying structure (social housing, rent controls, house building) decay and collapse. It's such a mess.

I'm ok but that really isn't the point. I was only a roll of the dice here and there away from being totally fucked forever (as someone who's in his early 40s, red brick university educated, I'm not a total screw up, honest), that's just blind luck, and you can't operate like that.
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Yeah, there's also the tag of 'bricks and mortar' is a good investment.
 
Asda looking to reduce the pay of 7000 workers as they’ve decided that they don’t live close enough to London to qualify for a location supplement.
 
Deutsch Wolf said:
We fetishised home ownership ludicrously in comparison to most of mainland Europe - they really don't give much of a fuck about renting because the system broadly works - and let all the underlying structure (social housing, rent controls, house building) decay and collapse. It's such a mess.

I'm ok but that really isn't the point. I was only a roll of the dice here and there away from being totally fucked forever (as someone who's in his early 40s, red brick university educated, I'm not a total screw up, honest), that's just blind luck, and you can't operate like that.
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Might be because around here you'll be hard pushed to find anything under 600k. And rents are now about 2500 a month for a house
 
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