Re: Buying a House? Why Wait?
 

The pension fund problem is going to happen anyway sooner or latter, its part of the world's biggest pyrimid scheme

I'm never ever having a private pension, by the time I retire in 30-40 years time it wont be worth the paper its written on

Re: Buying a House? Why Wait?
 

Agreed , bricks and mortar offer the safest (but not gauranteed:eek:) bet in my view, maybe gold next hence the recent massive demand.

Re: Buying a House? Why Wait?
 

unless you are in the UK's public\civil service scheme.

Re: Buying a House? Why Wait?
 

An article here explaining why the US is changing to a 'Rentership' society. It's very possible this could be the case this side of the Atlantic (both in the UK and in Spain)

http://speakingofrealestate.blogs.re...rship-society/

Re: Buying a House? Why Wait?
 

They say that the UK needs to build 200 houses a day for 20 years just to house the incomers.

Buying property to rent out in certain areas, is a good investment, even renting to the unemployed and unemployable is good, as housing benefit is there for renters that need it.

In spain buying to rent out is a nobrainer, bad move.

Re: Buying a House? Why Wait?
 

Instead of being in Spain perhaps you should be investing in the UK instead?

Prices outside of the London/south-east are coming down fast (imo a good thing in the long run, but going to create a lot of neg equity in the mean time)

Want a flat for 22k? Try this one in Grimsby. Would it make sense to rent out to someone claiming housing benefit (very few employment prospects on Humberside)? Maybe, but the coalition intend to make housing benefit cuts.

http://www.rightmove.co.uk/property-...-18264468.html

There could be some amazing bargains in the north of England this winter.

Re: Buying a House? Why Wait?
 

Indeed, but renting to benefits claiments should be no hobby.

It is high risk, people trashing the place, not paying their rent etc etc

For it to be worthwhile you need to buy a number of properties, buy local to you so you can keep an eye on them (and maintain them). It has to be taken as a business, then you might get a good return by buying say, 10 cheap properties up North

Re: Buying a House? Why Wait?
 

Don't you arrange the payments directly with the council nowadays? Surely you're in more danger of students trashinhg the place, than with a single mother and her kids?

Re: Buying a House? Why Wait?
 

How do you know that I am not investing in the UK?

And you dont have to live in a country to invest in it.

My family, like lots of others , invested in Spain while living in the UK.

Re: Buying a House? Why Wait?
 

I was pointing out buying opps (and also that prices are falling in the UK outside of the south-east). Having said that, it's drifted away from the thread subject as regards someone who's say 55 or 60 and wants to retire somewhere. Despite its reputation I wouldn't rule out Grimsby (close to sea and the Lincolnshire Wolds), but I suspect most would prefer the Spanish climate?

Re: Buying a House? Why Wait?
 

Not all benefits claiments are honest single mothers with young kids

Others are drug dealers, prostitutes, ex-cons, people with learning difficulties who cant look after themselves properly...

I am sure JLFS will denounce me for "dissing poor people" as usual, but its reality. Many people are claiming benefit because life has dealt them a bad hand. Meaning that keeping your property in good condition is last priority when they have so many other issues to deal with

As long as you build maintanance costs in the business plan then no problem, but I am suggesting that renting to this demographic will need more time, energy and money than for others. The investments costs are relatively low but so are the returns

Plus buying cheap houses gives a host of other problems, damp, leaky roofs, replacement windows, new kitchens and bathrooms etc etc

Re: Buying a House? Why Wait?
 

You've never been to Grimsby I guess? :rofl:

Humberside is one of the most deprived places in Europe

I have a Spanish friend who worked as a teacher in Hull for two years. She had never seen such deprevity. A lot of the parents were junkies or were too lazy to get out of bed to take their children to school in the morning. The kids would come to school with dirty clothes on day after day and without breakfast. Impossible to set any homework etc or even get their attention in class.

For a working class Spaniard she said she had never seen anything like it. In fact, she said the people of Hull lived like Andalucian gypsies :(

Re: Buying a House? Why Wait?
 

My sister-in-law has 6 investment properties in Lincolnshire - originally they used to rent to Housing Benefit claimants but had a number of problems with tenants damaging the properties. They now find their own tenants and she and her husband make a point of collecting the rents in person so they can keep an eye on how they are being kept.

Re: Buying a House? Why Wait?
 

Yep, why live in Spain in some comfort when you can be a slum landlord in the appropriately named Grimsby?
Ah, the dream.

Re: Buying a House? Why Wait?
 

So you were pointing out the buying opps? whereas I read it as a direct question aimed at me, with a bit of an overtone of saying "if the UK is so good for investing why are you not there taking advantage of the situation"

That is my understanding,but I am sure you will correct my misunderstanding.