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Re: Buying a House? Why Wait?
Originally Posted by cricketman
(Post 9708944)
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 Dont believe it, the biggest influence on house prices in the UK is the area. There are plenty of decent houses for sale around the 60.65k mark in areas of Greater manchester, Merseyside, Wirral and cheshire. Often they are in much better condition that houses for 4 times the price in posher areas. Returns on the cheaper properties are more than the dearer ones. |
Re: Buying a House? Why Wait?
Originally Posted by JLFS
(Post 9708963)
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. |
Re: Buying a House? Why Wait?
Originally Posted by JLFS
(Post 9708971)
Returns on the cheaper properties are more than the dearer ones. I rent out a 1 bed flat for £1400 per month in London. I would have to rent out 4 or 5 1-bed flats in the North to get the same rent which means 5 times the work and hassle And once you take into account that someone renting a 1-bed flat in the North is more problematic than someone doing so in London (as only people on benefits or problems, or students rent 1 bed flats there) then you are talking about 10 times the effort for the same income Flats are great because they need minimal maintanance! Renting a house out is a much greater risk However, there are much better rental investments in UK than Spain without a doubt - and across the board |
Re: Buying a House? Why Wait?
Originally Posted by JLFS
(Post 9708971)
Dont believe it, the biggest influence on house prices in the UK is the area.
There are plenty of decent houses for sale around the 60.65k mark in areas of Greater manchester, Merseyside, Wirral and cheshire. Often they are in much better condition that houses for 4 times the price in posher areas. Returns on the cheaper properties are more than the dearer ones. |
Re: Buying a House? Why Wait?
And once you take into account that someone renting a 1-bed flat in the North is more problematic than someone doing so in London (as only people on benefits or problems, or students rent 1 bed flats there) then you are talking about 10 times the effort for the same income |
Re: Buying a House? Why Wait?
Originally Posted by cricketman
(Post 9708995)
As a % of purchase price then sure. However, as a % of time and effort then no.
I rent out a 1 bed flat for £1400 per month in London. I would have to rent out 4 or 5 1-bed flats in the North to get the same rent which means 5 times the work and hassle And once you take into account that someone renting a 1-bed flat in the North is more problematic than someone doing so in London (as only people on benefits or problems, or students rent 1 bed flats there) then you are talking about 10 times the effort for the same income Flats are great because they need minimal maintanance! Renting a house out is a much greater risk However, there are much better rental investments in UK than Spain without a doubt - and across the board there will always be void periods, and if an expensive property is empty it is a lot of income to lose whereas investing in 3 or 4 cheaper properties it is very unlikely that that all would be empty at the same time, so the income would be assured. Also, there is the service charges to be paid on flats, and if there is not rent coming in it is a double blow. If you are going to be a "professional" landlord as opposed to someone renting out their own property, what difference does the time involved make, you cannot expect to it to be all good with no hassle, every job has its downside. The secruity deposit covers most things and a good insurance covers the rest most of the time. In most places flats are few and far between, not everywhere is London. And at the cheaper end family houses are the best option, not 1 bed flats, as families tend to stay longer. |
Re: Buying a House? Why Wait?
Originally Posted by cricketman
(Post 9708995)
And once you take into account that someone renting a 1-bed flat in the North is more problematic than someone doing so in London (as only people on benefits or problems, or students rent 1 bed flats there) |
Re: Buying a House? Why Wait?
Originally Posted by cricketman
(Post 9708951)
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 :( Either you are exagerating or she is. I have never been to Hull, and to be honest it is not on my Bucket List, but to say that the people of hulllive like gypsies is a bit much to lump them all together. Are there no middle classes or ,dare I suggest it, well off peeps in Hull, are there not educated folk, professionals at all, are there no wannabees? And of course you did not try to ask the questions I asked did you? no of course not you probably agreed wholeheartedly and gave her more negative points about Hull, in a sickeningly ar.se licking,brown nosing way, just as I would expect you to- I bet that went down very well, you being a real crowd pleaser to the BILS SILS MILS FILS and well off Spanish professionals with good unidegrees. Obviously your "working class friend" did not have any sort of social life, or I am sure she would have seen some good in the people and the place. Your distain is showing big time. |
Re: Buying a House? Why Wait?
Originally Posted by megmet
(Post 9709505)
There are times when you talk absolute bollocks! :frown:
Why would someone not from London buy a flat there to rent out, to be successful people buy from the areas they know. |
Re: Buying a House? Why Wait?
Instead of replying to a daft post about Hull, I'm going back to what it says on the tin, and hope that anyone thinking of buying a property in Spain at this time will chance upon this link:
http://www.elpais.com/articulo/engli...30elpeng_6/Ten El Pais is not a rag, it's the most respected newspaper in Spain. |
Re: Buying a House? Why Wait?
Originally Posted by HBG
(Post 9710086)
Instead of replying to a daft post about Hull, I'm going back to what it says on the tin, and hope that anyone thinking of buying a property in Spain at this time will chance upon this link:
http://www.elpais.com/articulo/engli...30elpeng_6/Ten El Pais is not a rag, it's the most respected newspaper in Spain. That said, prices of new seaside homes and older houses in inland villages popular with overseas buyers have fallen by half in some areas on the Mediterranean coast. What do you think will happen if the Euro does fall apart? Will the pound appreciate against whichever currency Spain adopts (I doubt it will be called the peseta, but we'll see). And if the pound does rise won't prices in expat areas rise too? These are questions - I certainly don't claim to know the answers. I believe we're in for (relatively) sudden change over the next 2 years though. I don't believe anyone who claims they know everything that will happen. |
Re: Buying a House? Why Wait?
Originally Posted by steviedeluxe
(Post 9710096)
Glancing over that it points out that
Makes the properties more of a bargain? What do you think will happen if the Euro does fall apart? Will the pound appreciate against whichever currency Spain adopts (I doubt it will be called the peseta, but we'll see). And if the pound does rise won't prices in expat areas rise too? These are questions - I certainly don't claim to know the answers. I believe we're in for (relatively) sudden change over the next 2 years though. I don't believe anyone who claims they know everything that will happen. I just dont get your logic. And if you think that properties are more of a bargain right now when it is expected that things will get worse, you must be mad- |
Re: Buying a House? Why Wait?
Originally Posted by Lenox
(Post 9704057)
There are so many reasons not to buy property in Spain - mainly arising from either the cost (prices due to go down still further, the Pound vs the Euro... etc) or the legalities (Ley de Costas, Landgrab, 'illegal homes', fraud and cheats...) that everyone has been put off the idea.
But, there may be a good reason why you should consider buying now - especially if you are thinking about retirement. The time you have left. Oh, you could wait another five years, but - if you have ten left in this world (possibly more by living in Spain: less stress and a better diet), then cutting your eventual time here by half to save a few thousand pounds may not be that clever after all. There are lots of safe properties for sale - just remember to take proper care. We need some new neighbours! If you want to live in Spain right now I`d say leave your money in the UK and rent in Spain , you may find you get 2 euros to the pound in a couple of years:eek: |
Re: Buying a House? Why Wait?
I think they would still call it the peseta. Even after all these years many companies, utilities etc. still give the equivalent price in the peseta. Our gardener used to add up his monthly hours and multiply in pesetas then convert the total into euro:blink:
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Re: Buying a House? Why Wait?
Originally Posted by jackytoo
(Post 9710145)
I think they would still call it the peseta. Even after all these years many companies, utilities etc. still give the equivalent price in the peseta. Our gardener used to add up his monthly hours and multiply in pesetas then convert the total into euro:blink:
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