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Getting on the property ladder

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  • #76
    As long as it "re-equilibrates" after I've died.....;O)

    The problem (as I see it) is that even if you take that possible long term view, you'll still be 40 odd when you buy your house. Mine will be all paid for when I'm 50.

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    • #77
      I don't know how some of you in the expensive areas do it. My sister paid off her house at 26. I could pay off my house by 32 or 33, and I live in the city!
      I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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      • #78
        This 2 bed terraced house would cost £170k to buy...
        Speaking of Erith:

        "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

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        • #79
          Originally posted by DanS
          I don't know how some of you in the expensive areas do it. My sister paid off her house at 26. I could pay off my house by 32 or 33, and I live in the city!
          Well a $75,000 house would be easy to pay off but a $400,000- $600,000 house becomes a bit more trouble to pay off. 30 year loans are needed.
          Try http://wordforge.net/index.php for discussion and debate.

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          • #80
            When you say "terraced," what do you mean? What kind of square footage is involved?
            I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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            • #81
              I was told about 2 years ago that new houses could be bought in Lubbeck, TX for $35k-$50k with large yards. So I guess if you don't mind living in the ******* of the world then housing can be cheap. If you want to live in a desirable area though...
              Try http://wordforge.net/index.php for discussion and debate.

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              • #82
                It's certainly not huge, each floor is...erm...about 24ft by 15ft (2 floors)
                Speaking of Erith:

                "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

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                • #83
                  Originally posted by Oerdin


                  Well a $75,000 house would be easy to pay off but a $400,000- $600,000 house becomes a bit more trouble to pay off. 30 year loans are needed.
                  Oh if only houses around here were around $75k...but they aren't I do have the option of getting a job in my sector in a different part of the country that is far cheaper, but I am reluctant to leave London for lifestyle reasons...it's a bit of a dilemma...
                  Speaking of Erith:

                  "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

                  Comment

                  • #84
                    Originally posted by DanS
                    I don't know how some of you in the expensive areas do it. My sister paid off her house at 26. I could pay off my house by 32 or 33, and I live in the city!
                    Jeez, in the UK if you've paid up by 50 then you're doing OK, if youre paid up by 40 then youre doing great.

                    May I ask, what percentage of your salary did you buy your house for? To have no mortage at 30 is the stuff of dreams in the UK.

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                    • #85
                      Both me and my sister had/have 30 year loans. She paid off her loan in 6 years. I will pay it off in a lot longer, depending on how the interest rates compare. But I could pay it off, if I wanted to.

                      Regarding "desirable", of course there are differing views of desirable. You can still buy a fvcking palace with several acres for $400,000 - $500,000 in the better part of Ohio. I've seen desirable, and that area is only marginally less desirable than the desirable areas of California.
                      I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                      • #86
                        Originally posted by reds4ever
                        Jeez, in the UK if you've paid up by 50 then you're doing OK, if youre paid up by 40 then youre doing great.

                        May I ask, what percentage of your salary did you buy your house for? To have no mortage at 30 is the stuff of dreams in the UK.
                        Sure, you may ask. I guess at the time I purchased I was earning about $50,000 per annum pre-tax and spent $75,000 for the apartment. It's in the city, so it's small (~500 ft^2). It was in a marginal area which has been redeveloped, and real estate prices have exploded, so there has been a substantial amount of appreciation in the meantime.

                        My sis is in the country, and she probably had roughly the same ratio.
                        I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                        Comment

                        • #87
                          Originally posted by DanS
                          When you say "terraced," what do you mean? What kind of square footage is involved?
                          I don't think you have similar type of housing in the US. They are rows of (usuallly) 2 up 2 down houses with no gaps.

                          Mines 16 ft by 40 ft with a 16 x 50 garden at the back. The downside is that the front door is on a main road.

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                          • #88
                            That's not that much smaller than my house, and it is considerably cheaper, and this is well out into the suburbs...check out how much areas of Central London cost, it's insane...
                            Speaking of Erith:

                            "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

                            Comment

                            • #89
                              There are gardens, but they are communal and maintained by a contract company. Which is fine by me, because I hate gardening It's why I actually want a flat, but at the time I was looking they were all so pokey and as near as dammit, the same price as this place...
                              Speaking of Erith:

                              "It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith

                              Comment

                              • #90
                                I guess "terraced" would be similar to a "row house" in the US. Maybe a row house divided by two? I'm a little confused by what you mean by "two up, two down." Does that mean two floors on top, two on bottom?

                                One thing to note is that sometimes there is a danger discount in the city in the US that might not exist in London, for instance. As stated, my apartment was in a marginal area.
                                Last edited by DanS; March 17, 2006, 20:38.
                                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                                Comment

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