Did you sell your house to purchase a van for full timing

Discussion in 'Full Timers' started by buttons, Jun 19, 2013.

  1. buttons

    buttons Funster

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    If you have sold your house to purchase a van for full timing in the past few years then I think your bridges are now well and truly burnt.

    House prices up by £750 a month for the past year. I wonder what your investment in your home on wheels is now worth.
    Great news for some but do you have any regrets.

    http://www.express.co.uk/news/uk/388419/House-prices-set-to-soar
     
  2. Jim

    Jim Ringleader

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    IME, Most people who are enjoying life don't worry about what there home is worth.
     
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  3. Ridgeway

    Ridgeway Funster

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    I wouldn't worry too much.

    20% over 5yrs isn't sustainable and the market will collapse after some years, just bide your time and buy on a low.

    No economic growth and house price inflation don't mix in the mid term
     
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  4. buttons

    buttons Funster

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    That's great, so my other point is what do you think about the turn around in house prices. Around here it is like the old days. Agents dont even have time to get a sign up. I must admit it has come as a surprise to me. What is it like around the country.:thumb:
     
  5. shawn&emma

    shawn&emma Funster

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    Sold our house in 2009 and no regrets.
     
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  6. Chris

    Chris Funster Life Member

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    I reckon there is an almighty property crash just around the corner.

    A few percentage point increase in the mortgage rate will tip the balance for all the numpties who took out loans they couldn't afford.

    I have actually considered selling up and renting until it hits the fan and then buying.
     
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  7. ShiftZZ

    ShiftZZ Funster Life Member

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  8. journeyman

    journeyman Read Only Funster

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    It must be a regional thing, because up here in N Wales, house prices are seriously depressed, having not shown any meaningful recovery from 2008.
     
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  9. matamoros

    matamoros Funster

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    No regrets.
    Your observations about property prices emphasise the North/South divide, property prices in most of the North have at best stabilised but in many places are still falling.
    Anyone contemplating selling up must do the sums regarding age, pensions, what to do when no longer fit etc.

    As the saying goes " There are no pockets in shrouds" :BigGrin:
     
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  10. buttons

    buttons Funster

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    I think these are uncharted times, never before have we had such an influx of eastern european entrepreneurs. Sitting back waiting for the prices to go down could be a long wait.:cry:
     
  11. Chris

    Chris Funster Life Member

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    Yes, I think the South is booming but it's a false boom I think.

    Houses down my road are going well above asking price in days:Eeek:

    The house next door to me was on the market for about 5 years and was unsold because they were asking about £60 k more than it was worth. Then 6 months ago along comes a mug and pays £5k more than the asking price:Doh:
     
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  12. Chris

    Chris Funster Life Member

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    Do you mean Russians?
     
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  13. Rapide561

    Rapide561 Read Only Funster

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    House prices

    Hi

    I have to disagree somewhat with the opening post. House prices might be on the up as a nationwide (as in country wide rather than the Nationwide BS) but there are so many quirks. If 9 houses in Barnsley sell for £100000 and one in London sells for £1.1m, the average is £200,000! LOL - strange but true - and that is how average pricing works - far better to look at local variations.

    We sold in 2007, (boom boom) and can buy the same house back now £35000 less.....

    Looking at Rightmove for your home address/post code - see what identical houses were selling at in years gone and now.

    I personally believe anyone who sold in 06/07 and is buying now is "living the dream".

    On the flip side, those who sold in 04/05 should be about neck and neck. Those who sold in 2009 ish, could well find prices higher.

    Of course, there is a lot more to in that that.

    Here is an example.

    £100,000 mortgage, interest over five years "about £20,000" - based on 2007 - 2012 as an average.

    £100,000 in the bank, same period, locked to a fixed account at 5% (and there were lots, we did it) - interest earned about £27k.

    So you save 20k in debit interest and earn 27k in credit interest.

    Plus you are a cash buyer if you want to return to property.

    Of course the examples there are different now as rates as so low etc on savings, but it is never about what you sell or buy at.

    Russell
     
    Last edited: Jun 19, 2013
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  14. ShiftZZ

    ShiftZZ Funster Life Member

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    I am always amazed at the prices of houses in the UK, pop over to France and you can get a decent house for a lot less money.
    The housing bubble is bound to burst, no different to that galling programme “House in the Country”, what is your budget? £665K…
    The boom in property is a false one, your house goes up, so does the one you want to buy. I think Chris is right; a few % changes in the mortgage rate and everything will go belly up. I have a friend who is a general manager and on BIG money, his house is on ‘interest only’. He loves to spend and show off, but the reality is that all he is doing is postponing the inevitable.
    The only real winners are Estate Agents and Conveyancer’s.
    It a disaster that has happened before and will again. Just a quick reminder to those knocking the ‘baby boomers’ the mortgage rate for us was high..
    1989 25 May 13.7500%
    31 Aug 13.8438%
    4 Sep 13.8750%
    8 Sep 13.7500%
    6 Oct 14.7850%

    1990 8 Oct 13.8750%

    1991 13 Feb 13.3750%
    27 Feb 12.8750%
    22 Mar 12.3750%
    12 Apr 11.8750%
    24 May 11.3750%
    12 Jul 10.8750%
    4 Sep 10.3750%
    So please don’t tell us we had it so good.
     
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  15. joner8888

    joner8888 Read Only Funster

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    Keep your house,
    keep your job,
    keep your motorhome,
    keep your pension,

    Have a secure future :thumb:

    Gambling a lifes work on a dream of a long big trip, no-----take lots of small trips and keep it all.
     
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  16. buttons

    buttons Funster

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    I would imagion that you are enjoying life to the full Jim are you saying that you have no concern as to how much your property is worth. I bet you are a lot happier when the price is on the up. I know I am.:Wink:
     
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  17. buttons

    buttons Funster

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    Blimey I forgot about them.:Smile:
     
  18. Chris

    Chris Funster Life Member

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    Shiftzz - conveyancers don't make any money.

    Our average fee is about £750 plus VAT and we are expensive.

    We break even at best.

    Now, estate agents...
     
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  19. Jim

    Jim Ringleader

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    No, Why should I? It means nothing.

    A second house bought as an investment and you might track each up and down movement of your investment, but your home? No. Up, down, unless you are in negative equity, why should it matter?
     
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  20. Rapide561

    Rapide561 Read Only Funster

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    My dad says to me "I really don't know are care if the house is worth £1 or £1m. I am stopping here til it's time to go, so it's your problem to sort out"

    He is a very wise man, and I should have listened closer to him in my younger days.

    R
     
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