spencer88
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Registered: 6th Oct 08
Location: cornwall
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I think alot of people go into it too easy, thinking, ow I have xxx amount of money, I will buy a house for that and watch my money grow!
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Paul_J
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Registered: 6th Jun 02
Location: London
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quote:
Originally posted by spencer88
quote:
Originally posted by Paul_J
quote:
Originally posted by BluKoo
Maybe I should just buy a flat...
It's a sensible option, providing you buy one in a location you like and that you'd be happy to live in yourself one day.
Essentially the people that get burnt by property are the ones who buy the properties solely to make money and would have no intention to live in that place themselves.
If the house market crashes, you've still got a nice flat you want to live in - where as if you own a load of properties solely for rental / re sale purposes that are shitty in crap locations, then you potentially end up with a mortgage paying for some dead weight place you can't sell or rent.
But the thing is, if you do not need to sell your house, you have not really lost money as it is still costing the same.
So we're in agreement then? Buy a property you like and don't need to sell off if things go sour.
The housing market has dropped a lot, but there's no guarantees it's not going to continue falling - it's definitely on a downward trend with the economic situation and the people struggling to get onto the ladder.
Also the fact interest rates are low is good, but could burn some people if / when interest rates do rise again. The interest rate is only fixed for a few years and you may have budgeted your mortgage repayments based on a low interest rate. Once the interest rate rises, people may struggle to pay their repayments and need to sell ... This is a problem if the property you bought was junk / hard to sell.
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Paul_J
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Registered: 6th Jun 02
Location: London
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Ah - also I didn't think about this purchase being mortage free 
£100k wouldn't get you a property down here, so was still thinking you'd need a fairly substantial mortgage if he was to buy.
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spencer88
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Registered: 6th Oct 08
Location: cornwall
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The point I was making was regarding the rise of inflation and lower house prices.
people panicked and suddenly thought they had lost all their money. But if you do not need to sell the house you have bought, you have not lost any cash (yet).
The market will pick up in the next 3/5 years.
And regarding the last paragraph, see my previous post.
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Colin
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Registered: 4th Apr 02
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I can't see house prices going up anything substantial for at least 5yrs, were still in recession mind!! There will be another boom then another melt down as before, timings the key. Great time to buy if u've got cash but experience anticipating any kind of return in 12 months is very short sighted!
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spencer88
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Registered: 6th Oct 08
Location: cornwall
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I wish I had the cash to buy about 12 months ago.
Saw a flat in an ok'ish area, needed work, re decorating mainly.
Was on the market for 60k, 1 bed flat.
Sold after a few months of me umming and arghing.
Two weeks later, back on the market, re decorated. 90k  Sold in no time.
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s4k1b
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Registered: 11th Nov 02
Location: West Yorkshire
User status: Offline
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portfolio managers could lose you money too. its not risk-free
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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Buy 100k worth of converse shoes and sell them. 
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mattk
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Registered: 27th Feb 06
Location: St. Helens
User status: Offline
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Id like to invest 100k too. where can I get it?
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Colin
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Registered: 4th Apr 02
User status: Offline
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Daddy
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Xs
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Registered: 12th Apr 02
Location: Lanarkshire
User status: Offline
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quote:
Originally posted by Colin
Daddy
Worked for Blukoo
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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BOOM
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BluKoo
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Registered: 8th Apr 02
Location: Stonehaven (Scotland)
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A lot of my money has come from inheritance.
Some from when a grandparent died and some from when my mum died.
So you can take your assumption and shove it up your arse!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I was just kiddin matey no need to show me your nipples 
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Toby
Premium Member
Registered: 29th Nov 05
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quote:
Originally posted by Ian
I'm in that position although not with anywhere near that much
My biggest problem is that everything involves a risk and I'm not big on them. I'm probably going to end up being taken along in the impetuousness of setting something up and just making it work.
Not sure property or stock are safe these days. Depends how quick you need the return.
Need to speculate to accumalate. At the moment your not doing anything with the cash so may as well not have it anyway, which could be the case if it goes tits up.
My own money, i would be tempted with drugs but property, you could stick 3 deposits down on propeties with that and the rental will cover the mortgages. Rental market is very strong at the moment
Wouldnt stick my eggs all in one basket.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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I don't have mine yet, still using up holidays while technically still employed.
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Rob B
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Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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I'm still no closer to deciding!
I'm 100% starting a business in the modified Market though 
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Cole
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Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
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No one has said premium bonds not sure you can actually buy 100k worth of them but it's totally risk free isn't it your bonds will always be worth 100k and don't they say it's around a 6%+ return on them
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Isn't the modified market dying? 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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My dad was doing about 7% with his, plus the potential for a proper big win is always there as well, that's not a bad shout.
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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I just put 15k into a Natwest Bond, I really didn't listen much to what he was saying and it's risky but with shitty savings account interest rates and ISA's not much better either I'd stick with that risk and see what happens, I won't loose anything with it.
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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quote:
Originally posted by Cole
No one has said premium bonds not sure you can actually buy 100k worth of them but it's totally risk free isn't it your bonds will always be worth 100k and don't they say it's around a 6%+ return on them
30k is the limit, I know someone who was getting winning about AT LEAST 50 quid a month on average with 30ks worth.
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Rob B
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Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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quote:
Originally posted by A2H GO
Isn't the modified market dying?
depends what sort of modifying you mean?
The Corsa Market and Vw etc I'd agree as it's turned to coilovers and wheels and that's generally it.
The Jap Market 100% oposite, there is a big demand for USDM and JDM parts that alot of companies can't provide for.
I've been importanting parts for 3 years and have struck some decent contacts in the states who I've been in contact with, I'm going to give it my best shot either way
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Paul_J
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Registered: 6th Jun 02
Location: London
User status: Offline
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Sounds good Rob 
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Paul J is jealous
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