Did you sell your house to purchase a van for full timing (1 Viewer)

[buttons]

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

 

[Jim]

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

 

[Ridgeway]

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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[buttons]

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

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:

 

[shawn&emma]

Sold our house in 2009 and no regrets.

 

[Chris]

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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[ShiftZZ]

Stoke-on-Trent £1 houses: Hundreds express buying interest
http://www.bbc.co.uk/news/uk-england-stoke-staffordshire-22247663

 

[journeyman]

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.

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.

 

[2657]

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"

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[buttons]

I wouldn't worry too much.

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

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

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.

 

[Chris]

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.

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

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 priceoh:

 

[Chris]

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.

Do you mean Russians?

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[Rapide561]

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

 

[ShiftZZ]

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.

 

[joner8888]

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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[buttons]

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

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.

 

[buttons]

Do you mean Russians?

Blimey I forgot about them.

 

[Chris]

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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[Jim]

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.[HI] I bet you are a lot happier when the price is on the up[/HI]. I know I am.

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?

 

[Rapide561]

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.

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

 

[buttons]

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.

I have always found that when I have had similar good ideas in the past, someone who normally takes the back seat puts a block on it. Good luck

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[ShiftZZ]

Just rechecked, the rate was higher than my original posting;
1979 8 Feb 14.0000%
1 Mar 13.0000%
5 Apr 12.0000%
13 Jun 14.0000%
[HI]15 Nov 17.0000%

1980 3 Jul 16.0000%[/HI]
25 Nov 14.0000%

1981 11 Mar 12.0000%

I wonder how many could live with that rate at the present time?

 

[Ridgeway]

Just rechecked, the rate was higher than my original posting;
1979 8 Feb 14.0000%
1 Mar 13.0000%
5 Apr 12.0000%
13 Jun 14.0000%
[HI]15 Nov 17.0000%

1980 3 Jul 16.0000%[/HI]
25 Nov 14.0000%

1981 11 Mar 12.0000%

I wonder how many could live with that rate at the present time?

I'm quite happy with our 1.68% fixed for 5yrs that we can find here today.

 

[buttons]

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?

Perhaps going up was the wrong statement but if the price of a property of mine was in free fall then I would indeed be unhappy.

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[buttons]

Just rechecked, the rate was higher than my original posting;
1979 8 Feb 14.0000%
1 Mar 13.0000%
5 Apr 12.0000%
13 Jun 14.0000%
[HI]15 Nov 17.0000%[/HI]

1980 3 Jul 16.0000%
25 Nov 14.0000%

1981 11 Mar 12.0000%

I wonder how many could live with that rate at the present time?

There are always winners. Crusty old savers...... Could you imagine 10/12% on your savings.

 

[lorger]

Although the house prices in Dumfries are far lower than down south it still amazes me when I see all the new houses being built and sold to young couples. I don't know what they get paid so either their on great wages or on 40 year mortgages.

I have just put an offer in for another house it is in need of some TLC so stuck a silly offer in well under the asking price and heyho I got it.

The reason I bought it is its next to my parents and eventually I will move in to it so I can help them when they need it, in the mean time I will spend a few months doing it up I may then move in and rent mine out. I get the keys a week on Thursday and I still haven't told my Mum or Dad not sure if they will be pleased or if they will sell theirs and move

 

[old-mo]

Although the house prices in Dumfries are far lower than down south it still amazes me when I see all the new houses being built and sold to young couples. I don't know what they get paid so either their on great wages or on 40 year mortgages.

I have just put an offer in for another house it is in need of some TLC so stuck a silly offer in well under the asking price and heyho I got it.

The reason I bought it is its next to my parents and eventually I will move in to it so I can help them when they need it, in the mean time I will spend a few months doing it up I may then move in and rent mine out. I get the keys a week on Thursday and I still haven't told my Mum or Dad not sure if they will be pleased or if they will sell theirs and move

Just had this e,mail from your dad...
..................................................................................................................


Hi Mo, Me ole mate...

How`s you doing, long time no see...

Just heard that that bloody idle son of mine is buying that place next to me...:Angry:

All them bloody years he sponged of me and your mum..... if he thinks he is coming back here to carry on where he left off,,,, he has got another think coming to him... :Sad:

If you know of a nice little two bedroomed bungalow down near you,,,, give us a shout..

All the best..
................................................................................................................................

Well what can one say....

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[Don Quixote]

No regrets

Sold up just over yrs years ago, bought a small place in Spain as a "bolt hole" - bought a MH to see the rest of EU ( currently in Germany ) and have never looked back once. We can come over to UK and enjoy the "funister" meets and meet some very nice members.

Not full time, but nearly.........

Most of all NO STRESS........... As my signature below shows "life is too short"

 

[rainbow chasers]

Perhaps going up was the wrong statement but if the price of a property of mine was in free fall then I would indeed be unhappy.

I think what Jim is saying is, unless you want to sell soon - then the value of your home is not an issue as long as you can make payments on the mortgage if there is one - there is no point worrying about the rise and fall of prices.

Fulltimers that still own property will keep hold of it, rent it or whatever until they decide the time and price is right to sell - so long as they can afford to live the life, then there isn't a problem. House prices will rise again at some point.

If you are in your 'last' home, or a long term home - then even in negative equity, it doesn't matter as long as you can afford the mortgage. I know it is frightening for those that paid through the nose a few years back, that said those mortgages are not dissimilar to rents they would pay - so they may as well batten down the hatches and ride it out - it will get better, just takes time for the cycle to come around again.

 

[buttons]

I think what Jim is saying is, unless you want to sell soon - then the value of your home is not an issue as long as you can make payments on the mortgage if there is one - there is no point worrying about the rise and fall of prices.

[HI]Fulltimers that still own property will keep hold of it, rent it or whatever until they decide the time and price is right to sell - so long as they can afford to live the life, then there isn't a problem. House prices will rise again at some point.[/HI]

If you are in your 'last' home, or a long term home - then even in negative equity, it doesn't matter as long as you can afford the mortgage. I know it is frightening for those that paid through the nose a few years back, that said those mortgages are not dissimilar to rents they would pay - so they may as well batten down the hatches and ride it out - it will get better, just takes time for the cycle to come around again.

This is hardly burning your bridges, owning a home especially when it is paid for gives you total freedom to do whatever you please. Rent it or let someone borrow it for free, it will still be there when and if you need it. Increasing property prices while you are away would make you even happier surely.:thumb:

My intro was not suggesting that all full timers were doomed. It was just an update on some of the many members who over the past years have posted on here how wonderful life was going to be, all they have to do is sell up and purchase a large motorhome with the proceeds then disappear over the horizon without a worry in the world. Now some years on I just wondered if this dream was still in tact.

I would never have been brave enough to put my future in a depreciating asset so how is it panning out for those of us who were.

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