yeseye said:If you own property in Droylsden try and hang on to it for another couple of years when it will steadily increase in value. There's a lot going on in and around this area at the moment, not to mention one of the biggest regeneration contracts in the NorthWest a mile up the road. Droylsden imo will peak in 4 or 5 yrs, That's when I will move on with a nice little profit hopefully.
MCFC BOB said:It depends.johnmc said:MCFC BOB said:My family did that and we're now better off than we used to be.
Explain please. If you rent for 25 years you have nothing of value. If you pay a mortgage for 25 years you own a house.
Nobody really rents one place for 25 years. The flexibility of rent means you can move whenever you like.
Well, my family received a tidy sum that left us with some spare cash that we wouldn't have if we'd bought another house straight away.johnmc said:MCFC BOB said:It depends.johnmc said:Explain please. If you rent for 25 years you have nothing of value. If you pay a mortgage for 25 years you own a house.
Nobody really rents one place for 25 years. The flexibility of rent means you can move whenever you like.
That doesn't explain how you are better off?
MCFC BOB said:Well, my family received a tidy sum that left us with some spare cash that we wouldn't have if we'd bought another house straight away.johnmc said:MCFC BOB said:It depends.
Nobody really rents one place for 25 years. The flexibility of rent means you can move whenever you like.
That doesn't explain how you are better off?
Have you considered renting it out then?SophieB said:yeseye said:If you own property in Droylsden try and hang on to it for another couple of years when it will steadily increase in value. There's a lot going on in and around this area at the moment, not to mention one of the biggest regeneration contracts in the NorthWest a mile up the road. Droylsden imo will peak in 4 or 5 yrs, That's when I will move on with a nice little profit hopefully.
Unfortunately we've been hanging on waiting for that and it's not happening for us! We're on the edge of a really crappy estate though so I can't see it'll get better. Hubby bought ths place about 10 years ago and for a while it's been ok'ish. The part of the estate we're on was fairly quiet and neighbours were good but now with deaths, divorce and people moving on it's becoming a nightmare! Not sure I could hang on for another 5 years.
yeseye said:Have you considered renting it out then?SophieB said:yeseye said:If you own property in Droylsden try and hang on to it for another couple of years when it will steadily increase in value. There's a lot going on in and around this area at the moment, not to mention one of the biggest regeneration contracts in the NorthWest a mile up the road. Droylsden imo will peak in 4 or 5 yrs, That's when I will move on with a nice little profit hopefully.
Unfortunately we've been hanging on waiting for that and it's not happening for us! We're on the edge of a really crappy estate though so I can't see it'll get better. Hubby bought ths place about 10 years ago and for a while it's been ok'ish. The part of the estate we're on was fairly quiet and neighbours were good but now with deaths, divorce and people moving on it's becoming a nightmare! Not sure I could hang on for another 5 years.
I'm looking at a nice little farm in the lakes for £250k at the minute, there's value at the minute.Pigeonho said:Where you choose is up to you, but don't fall for the south Manchester thing. As nice as I'm sure it is, why let 200k get you little when north of the city you can get something more? The city itself has good and bad areas both north and south, so that's not a pro north comment, it just means you can get more for your money.
Secondly, please don't listen to bob. That us without doubt the most stupid thing I've ever heard. He clearly has never ventured out on his own or has a clue how the world works, which based on other posts of his I'm surprised at. He's talking through his arse though there.
Pigeonho said:Where you choose is up to you, but don't fall for the south Manchester thing. As nice as I'm sure it is, why let 200k get you little when north of the city you can get something more? The city itself has good and bad areas both north and south, so that's not a pro north comment, it just means you can get more for your money.
Secondly, please don't listen to bob. That us without doubt the most stupid thing I've ever heard. He clearly has never ventured out on his own or has a clue how the world works, which based on other posts of his I'm surprised at. He's talking through his arse though there.