Anyone here who doesn’t own a house?

[gordondaviesmoustache]

I’ve got loads! Anyone wanna buy any ?

Fucking insecure ****.

 

[Kompany Car]

Because my job requires me to move to either San Diego or San Francisco. SFO is even worse whem it comes to renting or buying properties as the prices are sky high.

If you dont get a big salary increase to offset it, the simple answer is to change jobs.

If someone said to me, I've got to move to London to retain my job, which means my standard of living falls substantially because of having to pay ridiculous property prices, I'd be telling them where to get off.

 

[Uncle Wally One Ball]

House prices were fairly flat in a lot of places for about a decade then went mental after COVID.

If in the UK it is a case of missing the boat and saving for at least 2 years before the interest rates show any sign in dropping significantly.

The banks need to pass on the rate rises so people can realise a bit from saving, but they arent. Happy to put the mortgage rates up though. They are having it both ways, its not on. The regulator needs to get a grip on them

 

[bluethrunthru]

I have been trying to buy a house for God knows how long but then something always comes up. I was saving for a while but then my parents got sick back in 2021 and that ate up most of my savings.

I got married last year and we decided to budget everything so that we can save up for a house in a year or two. Recently I started a new job but I find it very hard to save. Whenever I try to, something always comes up, whether it’s my Dad having a spine surgery or my wife ending up in ER for a post surgery complication.

We are moving to San Diego next month which is hell of a lot more expensive than where we currently live. It also doesn’t help that my wife is a school teacher and here in the US, teachers are paid shite. So almost 90% of the bills are on me. After all that, we can barely save anything for a house.

I just wanted to rant maybe but does everyone here own a house? I feel like we ill be stuck hopping from one apartment to another our entire life.

Interesting question. Do you own your house? If its on a mortgage then surely not. Its the mortgage holders to own until you have paid them for it I'd say. If I borrow £50k to buy a car on Hire Purchase its the HP companies property until I pay it off.

 

[Keepingthefaithsince1976]

Why didn’t you exercise your right to extend the lease?

I was quoted 30k. Didn't have the money. I was already mortgaged up to 190k and I just saw it as another way of making money out of me. I was mentally tired and had paid a mortgage on a house in Manchester for approximately 15 or so years too. 20 years of mortgage is enough for anyone mate. Hey ho.

 

[metalblue]

Fucking state of the US property market these days. Just before the global financial crisis they’d lend millions to unemployed folk with little prospect of employment as they were doing a 30 year stretch for jay walking.

 

[Keepingthefaithsince1976]

The banks need to pass on the rate rises so people can realise a bit from saving, but they arent. Happy to put the mortgage rates up though. They are having it both ways, its not on. The regulator needs to get a grip on them

One of the best savings rates websites is based in Manchester. Raisin.

 

[Keepingthefaithsince1976]

Never buy leasehold

It's all the rage nowadays. Every new build I look at is leasehold. One studio I went to look at was 215k on a 103 Yr lease with a management charge of £1600 per year. So to keep the windows painted, the roof slates in good order, the communal stairways lit and a few pot plants watered they charge 10 studios a whopping 16k per year. Probably do all repairs and maintenance in 2-3 weeks.

 

[Keepingthefaithsince1976]

That sounds really scary and that is how I began in my old place. Five years of just paying the management charge to cover all that stuff, but then they hit us with a Section 20 job for a communal redecoration of the hallways etc. That was a separate charge we all had to do and they wouldn't leave us alone with such unnecessary things after that.

I would not wish any of this on anyone decent. Hope you sell and leasehold companies get what's coming to them. It bewilders me they are not regulated by a third party, but are self-regulated instead.

I got rid 12 years ago. You reminded me there was a leaflet came through the door about the compulsory fitting of pvc windows. I'm probably best out of it but I would say get ready to lose at least 20% of your house profit on lease charges.

 

[BimboBob]

I have been trying to buy a house for God knows how long but then something always comes up. I was saving for a while but then my parents got sick back in 2021 and that ate up most of my savings.

I got married last year and we decided to budget everything so that we can save up for a house in a year or two. Recently I started a new job but I find it very hard to save. Whenever I try to, something always comes up, whether it’s my Dad having a spine surgery or my wife ending up in ER for a post surgery complication.

We are moving to San Diego next month which is hell of a lot more expensive than where we currently live. It also doesn’t help that my wife is a school teacher and here in the US, teachers are paid shite. So almost 90% of the bills are on me. After all that, we can barely save anything for a house.

I just wanted to rant maybe but does everyone here own a house? I feel like we ill be stuck hopping from one apartment to another our entire life.

Oh the joys of a free health service.