Anyone bought a house before? (Edit: I bought one!)

BiscLimpkit · Post by **BiscLimpkit** » 22 Nov 2006, 22:23

Figured I may as well jump on the property market. I was thinking of buying a flat and renting it out... I'd continue to live at home.

With my salary, I can only afford a flat just now... *sob*

My ideal house would be a detached house with at least 2 bedrooms... but that's way out of my price range.

I'm looking around just now... prices are so bloody expensive!!!

slasher13 · Post by **slasher13** » 22 Nov 2006, 22:41

Yeah I just brought my house in July this year, me and my wife got a 2 bedroom house in Cheam, Surrey. Cost a bomb thou, £210,000.00.
For the mortgage, went and got a self certificate, as normal banks wouldn't give us a mortgage for that amount.

Yi-Long · Post by **Yi-Long** » 22 Nov 2006, 23:15

Here in Holland, Housing-prices are a bitch. For a simple house you'll have to paya fucking fortune. I wanna leave Holland, especially after today's elections.

thelostdragon · Post by **thelostdragon** » 23 Nov 2006, 00:34

Yeah, I have that villa in Waikiki.

Markgway · Post by **Markgway** » 23 Nov 2006, 02:05

I own a little place in India... I can never remember it's name... Taj-something?

Godzooki · Post by **Godzooki** » 23 Nov 2006, 07:56

Markgway wrote:I own a little place in India... I can never remember it's name... Taj-something?

Really? I i knew i would have popped in for a Irn-Bru.

Markgway · Post by **Markgway** » 23 Nov 2006, 17:20

Oh, yes, I remember.

Taj-McHal.

A Scottish-Indian brothel.

Please verrrry welcome white man.

bradavon · Post by **bradavon** » 23 Nov 2006, 18:33

@ Mark

slasher13 wrote:Yeah I just brought my house in July this year, me and my wife got a 2 bedroom house in Cheam, Surrey. Cost a bomb thou, £210,000.00.

I'll remember that when we're sorting out a deal for Twin Peaks

. You paid nearly a quarter of a million you must be rich

p.s - I've never bought a house. I'm not ready yet, in 2-3 years definitely though. I still need to rent first.

Markgway · Post by **Markgway** » 23 Nov 2006, 18:56

Either Slasher has an executive job or he's really good at sucking off rich guys.

BiscLimpkit · Post by **BiscLimpkit** » 23 Nov 2006, 19:05

Or maybe he's a slacker and his wife does one of the above

Edit: Just read how that sounds. I'm not implying your wife sucks off rich guys Slasher.

Markgway · Post by **Markgway** » 23 Nov 2006, 19:05

the68monkey · Post by **the68monkey** » 23 Nov 2006, 21:58

I'm on my 2nd house here in the states. I don't know what to tell you in regards to owning a place in Scotland, but I'd be very careful of what type of renters I allow. Renters can do some SERIOUS property damage that you will be responsible for here in the U.S. Knowing that the place was a rental also doesn't look so good to prospective buyers if you plan to sell without living in it yourself. But, as I said earlier, things could be entirely different in the U.K than they are here in the states.

bradavon · Post by **bradavon** » 23 Nov 2006, 22:06

In the UK the compulsory deposit the renter puts down is for covering any damage, as for any costs higher than the equivalent of the first months rent I'm not sure.

Also in the UK the government expects you to declare a rental house is being rented which they take 40% of the profit if you sell it or you have to live in it for 6 months so can say you lived in it it too/wasn't strictly a rental.

I don't know the details but that's about right. I couldn't believe it when a mate who is looking to sell her house she's renting and has never declared the government would take a whopping 40%. Needless to say she's having to lump it and live in the house for 6 months.

Don't let that put you off though Bisc as renting out a house is a great way to make money (I hear).

Do you really want to still live at home though? As I don't it rules out renting when clearly I couldn't afford two homes.

BiscLimpkit · Post by **BiscLimpkit** » 23 Nov 2006, 22:21

I could really do with moving out. Would love my own space etc. However I'm not too keen on staying in a flat, especially in the town centre (which is about all I can afford just now). Houses in the suburbs and countryside are ridiculously pricey.

slasher13 · Post by **slasher13** » 24 Nov 2006, 10:22

Nah man, I'm not rich, but the prices in Surrey at way too expensive. I had a good deal, I went with a company called Mortgage Express, self certificate and fixed rate for 2 years with an interest mortgage, so paying 800 pounds per month, we have split up the payment, so we both pay £400 each, which I say is normal for renting around here, actually renting here is more expensive, expect to pay up to 600-1000 in Sutton.

thelostdragon · Post by **thelostdragon** » 24 Nov 2006, 11:08

BiscLimpkit wrote:However I'm not too keen on staying in a flat, especially in the town centre (which is about all I can afford just now). Houses in the suburbs and countryside are ridiculously pricey.

Really? It's exactly the opposite over here. The closer to the town centre the more expensive living space becomes.

BiscLimpkit · Post by **BiscLimpkit** » 25 Nov 2006, 16:23

Oh man, property hunting's a bitch.

slasher13 · Post by **slasher13** » 25 Nov 2006, 17:45

BiscLimpkit wrote:Oh man, property hunting's a bitch.

LOL just wait until you get Estate Agents ringing up all the time!!, it can quickly annoy you, especially when you told them what sort of house you want, and they show you others which you didn't ask for..

BiscLimpkit · Post by **BiscLimpkit** » 28 Nov 2006, 23:05

Saw one lovely two bedroom flat today in town centre - needs little to no work done. Offers over £72,000. Wonder how much that'll go for? No survey's been done yet... hmmm...

Closing date on Thurs.

slasher13 · Post by **slasher13** » 29 Nov 2006, 12:14

Ahh sounds nice Bisc, yeah Survey are expensive thou

... What do you think? BTW do you have a decision in principle for the mortgage, some Estate agents in my area wouldn't take me serious, unless i had that

BiscLimpkit · Post by **BiscLimpkit** » 22 Feb 2007, 19:04

I just bought a house woooo!

3 months of searching, nae bad. Just in time for my birthday. Now I gots some furniture shopping to do.

It's a one bedroom, with lounge and kitchen. I bid £105k and it got accepted. I was lucky, as this could've gone for a lot higher... luckily the dude was in a rush and I placed the first bid.

Now I'm gonna be broke... still, at least I'm on the ladder.

slasher13 · Post by **slasher13** » 22 Feb 2007, 21:10

Nice one Bisc, well done, welcome on the property ladder

bradavon · Post by **bradavon** » 22 Feb 2007, 22:38

You bid on a house? Was it eBay?

. Do you need to bid in Scotland then? Down here we just put an offer in and it either gets rejected or not, if it does you negotiate.

Any pics then? Well done btw, nice work there.

Yi-Long · Post by **Yi-Long** » 22 Feb 2007, 22:50

Congrats Bisc!

Now the first thing you need to do is visit your new neighbours, and introduce yourself, but put on your 'crazy eyes' and use a nervous 'twitch' ...

This will avoid them EVER playing loud music or pissing you off in any other way, while you can get away with all the crap you want (like playing your games at it's highest volume in the middle of the night)

BiscLimpkit · Post by **BiscLimpkit** » 23 Feb 2007, 14:39

Excellent advice Yi-long! Is that from experience?

Aye I'll get the pics once I move in. The property's been taken off the website. It's usually a blind bid here Brad. When it goes to a close, the dude who bid the highest wins. Alternatively, the seller can accept the first bid if it's good enough (which is what happened to me).