Boat Mortgage or House Mortgage?

[Flying Penguin]

Glad it worked for you. <2.5x would be entering in pipe dream territory at this point. I hope this changes some day before I'm in my 40s.

I hope so to!

I admit we have been lucky in general, but (and to be clear, I'm not aiming this at you, it's an observation based on friends who are looking to buy their first houses) I think many people have unrealistic expectations of what to expect in a first time house. We have a small house, it's fundamentally sound but I've had to put a lot of time and effort into it to get it to a state where we could honestly say we're proud of it. A lot of people seem to expect to walk into something that looks like it should be on Grand Designs. Just doesn't happen. As a generation (<30's), we've lost the expectation that you WILL end up doing the work yourself, you WILL have to learn how to use a belt sander, paint roller, filler etc. Walking in to a nice house means you are simply paying a premium for someone else's taste.

Financial prudence and DIY, dying arts!

Cheers,

Jamie

 

[muyuu]

I hope so to!

I admit we have been lucky in general, but (and to be clear, I'm not aiming this at you, it's an observation based on friends who are looking to buy their first houses) I think many people have unrealistic expectations of what to expect in a first time house. We have a small house, it's fundamentally sound but I've had to put a lot of time and effort into it to get it to a state where we could honestly say we're proud of it. A lot of people seem to expect to walk into something that looks like it should be on Grand Designs. Just doesn't happen. As a generation (<30's), we've lost the expectation that you WILL end up doing the work yourself, you WILL have to learn how to use a belt sander, paint roller, filler etc. Walking in to a nice house means you are simply paying a premium for someone else's taste.

Financial prudence and DIY, dying arts!

Cheers,

Jamie

A house? I was looking at flats and studios, and even those are shooting upwards of £300K.

Cheers

 

[Flying Penguin]

A house? I was looking at flats and studios, and even those are shooting upwards of £300K.

Cheers

You must be in London surely?

We went outside the M25, can buy a house considerably bigger than ours for 300k....

Commute is a bugger though.

Jamie

 

[FullCircle]

A house? I was looking at flats and studios, and even those are shooting upwards of £300K.

Cheers

Hmm. Flat in Southend, £100k. Commute to London cost £2.5k

So buy 3 and let 2 out.

 

[muyuu]

You must be in London surely?

We went outside the M25, can buy a house considerably bigger than ours for 300k....

Commute is a bugger though.

Jamie

I want to avoid having a car at all. That would mean a few extra hundreds a month to put in a mortgage or savings.

Hmm. Flat in Southend, £100k. Commute to London cost £2.5k

So buy 3 and let 2 out.

Heh, actually buying somewhere else to let and living in a shared flat in London is one of my top options at the moment. Things are looking THAT desperate.

But for the time being I will just wait.

 

[Flying Penguin]

I want to avoid having a car at all. That would mean a few extra hundreds a month to put in a mortgage or savings.

True. I work in London (and get the train) but my wife works locally so for us one of us would be commuting either way.

Jamie