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Anybody returning who cant afford to buy a house?

Anybody returning who cant afford to buy a house?

Old Nov 13th 2014, 2:07 pm
  #61  
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by Flying Enterprise
A nice semi rural area, down Herefordshire, or Dorset ( Although me thinks rather expensive)
What are they asking for around there at the moment? A nice part of the country though.
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Old Nov 13th 2014, 2:26 pm
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Default Re: Anybody returning who cant afford to buy a house?

It would be helpful if there was a map of the location of BE-ers who are back in the UK (I know there is an international one, but damned if I can find it now). It would enable people moving back to contact them and ask for advice on the local areas.

The hardest thing about house-hunting in areas you don't know is that even with the mass of online stats (crime, schools, etc.), it can be difficult to know the difference between one location or the next.

If someone was looking to move to north Glasgow for example, I'd be able to give them good advice. One example - the house prices in the next village to where I live are about 10% or maybe even 20% cheaper, but people who live here would never want to live there! Some of the villages (sounds quaint doesn't it?) around here are really pretty rough.

Actually, having said that, we have had a nasty spate of burglaries here over the past month ...
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Old Nov 13th 2014, 2:35 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by Moses2013
What are they asking for around there at the moment? A nice part of the country though.
Hi Mo,

Its not what they are asking, which is always more than what I had in mind, but no pets!! which is the big stumbling block.
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Old Nov 13th 2014, 2:50 pm
  #64  
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Default Re: Anybody returning who cant afford to buy a house?

The problem you have finding rented accommodation which will take pets, is one which has been experienced by a number of returning ex-pats. There is no easy answer. But, if it is any consolation, I recently rented out our house for a year, and did allow pets.

All you can do, I think, is keep asking. But, if the landlord allows pets, there is usually a reason why, such as poor decor and maintenance so there is nothing to be damaged. You will probably have to pay a damage deposit.
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Old Nov 13th 2014, 2:52 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by Flying Enterprise
Hi Mo,

Its not what they are asking, which is always more than what I had in mind, but no pets!! which is the big stumbling block.
That's a shame with the pets. In the area where I live it doesn't seem to be a big problem. We own our house and have cats ourselves, but most people I know who rent didn't have a problem. The landlord of one of my friends even paid for a dog run when they moved in.
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Old Nov 13th 2014, 3:18 pm
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Default Re: Anybody returning who cant afford to buy a house?

When I was house hunting from Canada I used the House Price Crash Forum to ask for information about particular areas.

Although the forum isn't very active, compared to this one, there are usually people keeping an eye on the property market in their own area, so if you ask about a locale on one of the local forums, you usually get an informed answer. I got some good advice from the forum about towns and villages in Devon and Dorset.
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Old Nov 13th 2014, 3:42 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by dunroving
It would be helpful if there was a map of the location of BE-ers who are back in the UK (I know there is an international one, but damned if I can find it now). It would enable people moving back to contact them and ask for advice on the local areas.
I've had a go:



http://bit.ly/1ugzW3U

Last edited by Sally Redux; Nov 13th 2014 at 4:24 pm.
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Old Nov 13th 2014, 3:45 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by Sally Redux
I've had a go:



https://www.zeemaps.com/map?group=12...%2C%20UK&add=1

(The first time I tried it the map was way out in the North Sea, so that's why it's centred on Birmingham. Add yourself by going to 'list' in the box with 3 lines.)
That's strange - I know I added myself to the BE world map last time I read a thread about it, but I'm not there any more. Wind must have blown me away!

[Is there a sticky somewhere on the site for accessing this map? Couldn't find it]

[ETA: Sorry, I see you mean you had a go at creating a map - doh. I'll add myself and maybe one of the mods can put a sticky at the top of the MBTTUK page ...?]
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Old Nov 13th 2014, 3:50 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by dunroving
That's strange - I know I added myself to the BE world map last time I read a thread about it, but I'm not there any more. Wind must have blown me away!

[Is there a sticky somewhere on the site for accessing this map? Couldn't find it]

[ETA: Sorry, I see you mean you had a go at creating a map - doh. I'll add myself and maybe one of the mods can put a sticky at the top of the MBTTUK page ...?]
I hope it works OK. If it does, yes, would be good to sticky it.

I want it to show the whole of the British isles, at the moment I have to two extremes of zoomed in or out.

Last edited by Sally Redux; Nov 13th 2014 at 3:53 pm.
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Old Nov 17th 2014, 6:58 pm
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Default Re: Anybody returning who cant afford to buy a house?

Holey Moley, I just came acros a Location, Location (Australia) program on telly and the woman bought a tiny, bijou 1-BR bed-sit for AUD$440,000 (£250,000)!

Is that typical of house prices in Australia? It was in a place called Marubra(sp?)
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Old Nov 17th 2014, 7:18 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by LostBrit99
I am considering moving back to the Uk after 14 yrs but I wont be able to buy a house without a mortgage and tbh I dont know if I would want to have a mortgage as I would be tied down then.

Is anybody going to return to the Uk knowing that they will rent on a very long term basis, or permanently?

If so, how do you feel about that?

Thanks in advance
buying a house is a very british thing :-). I know I grew up thinking that house ownership was a sign of success. I myself have rented my entire adult life (10year), I have no problem with it but it has suited my lifestyle, I have been living in places I don't consider my permanent place.

What I do know is that house price growth far outstrips rent inflation so you will be able to rent a far nicer house than what you could afford to buy, especially in London!
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Old Nov 17th 2014, 7:51 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by unique_boy
buying a house is a very british thing :-). I know I grew up thinking that house ownership was a sign of success. I myself have rented my entire adult life (10year), I have no problem with it but it has suited my lifestyle, I have been living in places I don't consider my permanent place.

What I do know is that house price growth far outstrips rent inflation so you will be able to rent a far nicer house than what you could afford to buy, especially in London!
I think you'll find that most comparisons between buying and renting find that buying is less expensive than renting in the long term. London, currently (though not in the past),is the exception to the rule.
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Old Nov 17th 2014, 8:21 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by dunroving
Is that typical of house prices in Australia? It was in a place called Marubra(sp?)
No......that is pretty cheap for Sydney.

Other areas would cost a lot more than that.

Australia is one of the most expensive countries in the world for housing.
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Old Nov 17th 2014, 8:46 pm
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by Editha
I think you'll find that most comparisons between buying and renting find that buying is less expensive than renting in the long term. London, currently (though not in the past),is the exception to the rule.
In past yes but most places in the UK saw a high YoY increase in house prices over the last year. Interest rates are at the lowest they can pretty much be, we are 5% of pre crash highs on interest rates. Take that into account before buying.
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Old Nov 17th 2014, 9:37 pm
  #75  
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Default Re: Anybody returning who cant afford to buy a house?

Originally Posted by unique_boy
In past yes but most places in the UK saw a high YoY increase in house prices over the last year. Interest rates are at the lowest they can pretty much be, we are 5% of pre crash highs on interest rates. Take that into account before buying.
Once you have bought a house, there is no inflation (the mortgage does not go up over the 25 years of the mortgage).

Over the same 25 years, the renter's rent rent continues to go up.

At the end of the 25 years, the buyer pays nothing more (house is bought), whereas the renter continues to pay rent for another 10, 20, 30 years until they die.

Plus of course the buyer has £200k+ in capital equity whereas the renter has no equity from paying rent for 50 years.

There are lots of reasons to rent rather than buy but over a lifetime I wouldn't say "It's cheaper" is one of them.
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