First Time Buyers Page 10

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  • Shikasama 2 Apr 2013 15:56:18 6,276 posts
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    That woman should not be trusted with keys
  • mrpon 2 Apr 2013 16:51:52 27,645 posts
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    mcmonkeyplc wrote:
    Also noticed a radiator hanging off the wall being held up by a stool.
    Sounds like a piece of shit.

    Give yourself 5 or gig, you're worth it.

  • elstoof 2 Apr 2013 17:06:29 6,139 posts
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    That genuinely made me laugh.
  • mcmonkeyplc 3 Apr 2013 09:29:42 38,899 posts
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    :)

    Come and get it cumslingers!

  • henro_ben 3 Apr 2013 09:55:07 2,192 posts
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    Shikasama wrote:
    We've had a cursory look at houses and the missus wants to stay in Colchester. That means I have to accept the fact that at some point some estate agent or mortgage broker is going to fuck me up the arse because of the proximity to London. A lot of houses look shite from the outside but decent on the inside.

    It sounds absolutely stupid as well but I don't get why some terraced houses are so close together. I know that sounds retarded but I can't really articulate what I feel when I see a terraced house with a front door next to the front door of the next house. It just screams that all I'll be hearing is next door screaming.
    Interesting, that's where I bought a house!

    Which is, in fact, a terrace. To be honest I barely even notice the neighbours, sometimes hear the kids thumping up the stairs and occasionally the dad bellowing at them but it's not very loud. No noise from TV's etc. Hell of a lot quieter than any flat I've lived in that's for sure.
  • nickthegun 3 Apr 2013 10:04:54 55,849 posts
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    It depends on how old/new the build is. Our first house was a 12 year old terraced starter home and we could hear our neighbours farting through the wall.

    Our 'new' house is still a terrace but was built in the late 60's, so it isnt made out of balsa wood and PVA glue and we dont hear a peep out of the neighbours at all.

    ---------------------------------------------------------
    He totally called it

  • henro_ben 3 Apr 2013 10:25:55 2,192 posts
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    Mine's 1901 so pretty sturdy walls.

    Have noticed that the other neighbour, who is generally very quiet, is more noticeable when hoovering etc. than the family on the other side. As there's no party wall in the attic on that side I suspect it's flanking noise rather than noise going through the wall.

    Suspect it'll be even more quiet when I get round to building a wall up there between the two of us.
  • mcmonkeyplc 3 Apr 2013 10:29:56 38,899 posts
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    From my 1 night it seems pretty quite in my 6 year old flat so there :p

    Come and get it cumslingers!

  • THFourteen 3 Apr 2013 10:35:10 31,804 posts
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    In my old flat (circa 2000) we generally didnt hear much noise from above or below, but we did hear the next door neighbours yelling at each other now and then. I'm pretty sure i also freaked them out last year or the year before that when RvP scored against chelsea at the bridge i went absolutely batshit mental, scared my wife into the other room.

    train journey this week has been pretty relaxed, about 45mins door to desk which is nice. Also had a seat each time on the train, so i COULD bring my laptop and play xcom there and back, but i wonder whether its just because its easter the trains are quieter.
  • mcmonkeyplc 3 Apr 2013 10:43:51 38,899 posts
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    You get a seat on the train in the morning from Twickenham?! What freaking time do you get the train?!

    Also...I dread to think what neighbours will think when I watch a big united game at home and play Halo.

    I'll probably get an ASBO :(

    Edited by mcmonkeyplc at 10:45:18 03-04-2013

    Come and get it cumslingers!

  • THFourteen 3 Apr 2013 10:45:44 31,804 posts
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    last couple of days i got the 6.41, i am at my desk by 7.20 :-)

    considering getting the 6.53 but i'd be about 5 mins late for work, and probably no seat.

    can you normally not get on the train if you get a later one then? i dont mind standing but i'd get annoyed if i couldnt get on at all.
  • mcmonkeyplc 3 Apr 2013 11:17:21 38,899 posts
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    You can get on most days around 8am. I think it's only when the trains fuck up you can't get on.

    Getting a seat is practically unheard of when you get on at Twickenham at that time though.

    It's not an option for you if you need to be at work by 7:30 though :)

    Come and get it cumslingers!

  • Dougs 3 Apr 2013 13:10:03 64,903 posts
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    henro_ben wrote:
    Mine's 1901 so pretty sturdy walls.

    Have noticed that the other neighbour, who is generally very quiet, is more noticeable when hoovering etc. than the family on the other side. As there's no party wall in the attic on that side I suspect it's flanking noise rather than noise going through the wall.

    Suspect it'll be even more quiet when I get round to building a wall up there between the two of us.
    Our lender wouldn't release funds without the party wall being fixed, as it's a fire risk.

    1900 Victorian semi cottage here and our neighbour has just put theirs on the market. I suspect due to our hollering at a 2 year old. :-/
  • THFourteen 3 Apr 2013 13:15:28 31,804 posts
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    or you hollering at gervinho :-)
  • henro_ben 3 Apr 2013 13:16:48 2,192 posts
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    Dougs wrote:

    Our lender wouldn't release funds without the party wall being fixed, as it's a fire risk.

    1900 Victorian semi cottage here and our neighbour has just put theirs on the market. I suspect due to our hollering at a 2 year old. :-/
    Yeah, I was expecting a retention to be put on the funds but the lender seemed fine with it. Different lenders/different standards perhaps? Or maybe it only needs to be a wall every two properties or something. Will get it done though, if only because I don't fancy my neighbour having access to my loft!
  • Shikasama 3 Apr 2013 13:50:46 6,276 posts
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    I'm still entirely convinced on the benefits of buying house.

    I was reading about mortgages last night and they just seem like a massive, massive rip off designed to make banks rich. I understand the arguments about paying off capital and actually owning something, but it is unlikely you'll pay off your mortgage unless you are in a the property for decades. It seems to make you a complete slave to the economy as well.

    I read that on a 100,000 mortgage with 5% interest, after 10 years you've paid 70,000 but only 26,000 off your actual debt...that's insane.

    I wonder how much of it is tied to the old fashioned idea of go to university - get a career - buy a house - have kids life progression. I am proper struggling to see tangible benefits to 'owndership' (inverted commas important) over the flexibility of renting.
  • henro_ben 3 Apr 2013 14:19:59 2,192 posts
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    Shikasama wrote:

    I wonder how much of it is tied to the old fashioned idea of go to university - get a career - buy a house - have kids life progression. I am proper struggling to see tangible benefits to 'owndership' (inverted commas important) over the flexibility of renting.
    Shocking isn't it.

    On the other hand I've set my mortgage payments up to be the equivalent of what I'd be paying to rent, which actually works out as overpaying on my mortgage by 125 a month.

    It's swings and roundabouts really, renting gives you a lot of freedom, but owning gives you stability and the opportunity to have your home exactly how you like it. For me it feels worth it.
  • THFourteen 3 Apr 2013 14:21:06 31,804 posts
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    Renting doesn't really give you that much freedom when you consider you can be booted out whenever the owner feels like it though?
  • Shikasama 3 Apr 2013 14:26:53 6,276 posts
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    Yeah I wouldn't want to sound like I'm rubbishing someones choice to buy, it's just a thought process I'm going through as I investigate potentially buying a house of my own.

    Regards renting - you still have a legal agreement in place, you're not any more likely to be kicked out than you are to have your home repossessed.

    I think we are going to see an advice broker at some point in the next week or so, so maybe when I have some actual numbers to work with things will be a bit clearer to me.

    One of the other things that came to mind when I was reading stuff last night was that whilst interest rates are lowish now, they are definitely going to increase over the next few years as the economy starts to recover, which may well bone a lot of people.
  • Orange 3 Apr 2013 14:39:15 4,564 posts
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    Renting is money down the drain though, and most rentals charge at least same rate as you would pay on a decent mortgage, if not more. So it's throw some money away, or throw all of it away.
  • roz123 3 Apr 2013 14:44:14 7,107 posts
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    In regards to renting my girlfriends sister got kicked out of her rented place because the owner wasn't paying his mortgage on the property.

    When we came to the end of our second year of tennancy in the place I live in now the landlord tried to put our rent up by 50 a month, we got it down to 25 but the arseholes only told us about an hour before we were about to renew and a month before our agreement ran out. Landlords are often shit at getting around to sorting out general maintance as well.

    We are looking to get a mortgage with a 10% deposit just to get out of rented because it feels like we are throwing money away. We will get at least an extra bedroom for the same amount we are spending each month.

    Edited by roz123 at 14:46:18 03-04-2013
  • Rhythm 3 Apr 2013 14:50:15 2,375 posts
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    Orange wrote:
    Renting is money down the drain though,
    No, it's money in exchange for a maintained place to live.
  • elstoof 3 Apr 2013 14:53:18 6,139 posts
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    How do you figure out renting is better than a mortgage? Okay, so you will pay off more than you borrow, big surprise, after 25 years of mortgage payments on a 250k loan you'll pay back ~350k. And have a valuable asset in the property.

    On the other hand, after 25 years of renting you will have paid ~400k with no home at the end to show for it. And you'll be paying rent until the day you die.

    Edited by elstoof at 14:55:58 03-04-2013
  • disusedgenius 3 Apr 2013 14:55:17 5,141 posts
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    Shikasama wrote:
    I was reading about mortgages last night and they just seem like a massive, massive rip off designed to make banks rich.
    Well, when London rental prices can go up 30% in a year or two, it's basically just a choice of which way you want to be bent over. Renting isn't THAT flexible either unless you're throwing silly money at a short-term contract. It also means you have to revolve your life around the yearly contract negotiations/moves rather than being able to tie up your affairs on a bit more of your own terms.
  • mad_caddy 3 Apr 2013 15:00:17 3,306 posts
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    Electrician finished, plasterer have finished, bathroom fitted, carpets are in today, and kitchen is in the kitchen, but it is all in boxes waiting to be built. hopefully going to start moving in next weekend.

    Doing it all myself with some helping hands and using my dads van to save on the cost we've destroyed our budget, but it's getting closer now.

    we've properly lucked out on this house, we've got a stupid bargain and we're quids in every day now. it's lovely.

    cant wait to move in and sleep for a week now.
  • THFourteen 3 Apr 2013 15:00:42 31,804 posts
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    Plus the sheer hassle of packing up your shit and moving every one or two years

    PITA.
  • Gaol 3 Apr 2013 15:03:33 2,262 posts
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    Shikasama wrote:
    I read that on a 100,000 mortgage with 5% interest, after 10 years you've paid 70,000 but only 26,000 off your actual debt...that's insane.
    While that's true, it's really a product of setting equal repayments for the remainder of the term (not withstanding interest rate changes). So you pay much more in interest initially as you owe more, but the proportion of your monthly payment which reduces capital snowballs over the term.
  • Shikasama 3 Apr 2013 15:14:04 6,276 posts
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    Good comments people

    I wasn't saying one was better than the other per se, just that I think the tangible benefits of ownership aren't as clear as people make them. The whole 'but after 25 years you own your house' thing seems like something of a misnomer to me. Unless you are later on in life you probably aren't going to be in the house for 25 years, meaning you'll just go from one mortgage into another and you haven't actually 'gained' anything in capital. Especially if your house depreciates.

    The point about the interest reducing as your capital increases is a good one. I assume this doesn't change the amount paid monthly but the % of it that contributes towards capital?

    Like I said, I'm not being definitive in anything and I'm the first person to admit I don't know an awful lot about this. I really don't think it is as clear cut as "Ownership is absolutely better than Renting" which is what people make out.
  • mcmonkeyplc 3 Apr 2013 15:18:40 38,899 posts
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    It depends on your life style as well.

    Come and get it cumslingers!

  • nickthegun 3 Apr 2013 15:21:52 55,849 posts
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    I know a few people who are getting on for ten years into an interest only mortgage and have made absolutely fuck all preparation for paying the lump back other than half hoping their parents die.

    ---------------------------------------------------------
    He totally called it

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