Tuesday, August 10, 2010

How do you get on the Property ladder with house prices so high?

In Scotland house prices are rediculous, a small one bedroom flat cost around 116 thousand. Even ex council houses are over 130 thousand. A friend bought a flat 5yrs ago for 32 and sold it for 106 thousand. Prices have to come down soon surely.How do you get on the Property ladder with house prices so high?
The best way is to wait. All first time buyers should wait. If nobody was buying new property the prices would tumble. The thing that would be best for people in general would be low prices, people should therefore refuse to buy until the prices come down. There are houses in unpopular areas of the country that are low, people should buy these, they are structurally sound. The only problem is the areas they are in are blighted by crime. If enough people bought houses in these areas and employed some sort of security service for a while, or organised a local armature squad to patrol these areas would improve.

So don't buy unless the price is right. Keep your nerve, and try something outside the popular areas.How do you get on the Property ladder with house prices so high?
save a big depoist!! i think they will go up again yet because so many polish etc coming they renting so many houses..landlords putting the prices up because up to six of them sharing a house...landlords buying more properties...

people buying and renting because its better than a pesion for them... keeps prices up and they wont come down!!

wages wont go up much because the polish etc will work for less and single time... think about it!!
dont know which bit of scotland you are in , but you can buy a 3 bed flat in glasgow for 120k. so you buy it , let out two rooms to people , cover 75% of the mortgage payments with the rent , lots of people doing it.

Look harder 3 bed flat 80k http://www.rightmove.co.uk/viewdetails-1鈥?/a>
They new way forward may end up being to rent.

For ten years we've been waiting for house prices to stop rocketting, and they haven't. Unfortunately it would take a recession to reverse the trend.

Have you got co-ownership in your country?

Apparently, you buy half a house (usually at a reduced price) and can buy the other half later if you want.
the only reason house prises are so high is because the estate agents decide how much they are worth not us..if they think they can get extra then they will because at the end of the day its their fee that is increased ...if someone moves up from London and has a big profit on their house then the greedy agents raise all the property prices regardless of the fact youngsters cant afford their own place.......what use to anybody is a house priced at 100.000 or 150.000 unless you sell and don't buy again because the next house will be just as expensive....also new house building costs have gone crazy because material costs have gone through the roof(oops thats another reason lol)
Many have been investing in the US market then selling in the US to have savings to put down on a UK home.

Now is a good time to buy foreclosure properties in the US to make a profit on.
i know - it's crazy. i bought my 3 bedroomed semi (in north yorkshire) for 拢56,000 back in early 2002. now it's worth 3 times that value. sounds good doesn't it ? but what u have to remember is that if i wanted to move, it would cost me at least that amount of money to find something of a similar size. if i wanted to move into a bigger property, like my sister did last year, i would have to take on a lot bigger mortgage. she lives in scotland and had to part with over a quarter of a million pounds just to get a normal 4 bedroomed detached house !!! the house prices at the moment are totally ridiculous, and i'd hate to be trying to get onto the property ladder now.... i can't see that these prices are sustainable, and i would advise u against getting a big mortgage... if the house prices crash, u could end up with negative equity. (you'll have paid more for your house than it's actually worth) try waiting another year before u make an attempt at getting onto the property ladder.... with us getting a new prime minister, allsorts of things could change. if the prices are still high, then u will have to make the decision to either buy a small property, or get a bigger mortgage, and take in a lodger to help with the mortgage repayments.
In England you can go to the housing associations, you buy around 60-75% of the property and they own the rest. You pay your mortgage, and a small rental charge. When you decide to sell, you have a guaranteed buyer and you get your share of the equity. Its a good way of building up some capital so that you can save to purchase your own place. Be wary of mortgage companies that offer you several times your salary as a mortgage, you could end up overstretching yourself and be repossessed.
  • computer security
  • div myspace
  • No comments:

    Post a Comment