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How old were you when you bought your first house...

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.... and how much for? .... and what year? .... and what area (if that's not too personal) Just interested because I'm speaking to more and more 35+ year olds who are renting and are a … Read More
JonnyTwoToes Avatar
banned6y, 8m agoPosted 6 years, 8 months ago
.... and how much for?

.... and what year?

.... and what area (if that's not too personal)

Just interested because I'm speaking to more and more 35+ year olds who are renting and are a million miles away from having enough for the every increasing deposit requirements.

No hidden agenda, just very interested!
JonnyTwoToes Avatar
banned6y, 8m agoPosted 6 years, 8 months ago
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#1
age ...........19

price............£11,550

year........1983

2 bed terraced

area...............Nottingham




Edited By: bitseylango on Oct 28, 2010 20:43: .
#2
i was 24 yrs old
bought house in 1994 ( still here ) for £40,000
and i live on the Wirral :D


Edited By: shopstilldrops on Oct 28, 2010 20:44: ?
#3
£40k in 2002 (when we were 21) in Staffordshire - sold it four years later for 108k
#4
21 as a present for myself
banned#5
bitseylango
price............£11,550

year........1983

area...............Nottingham


That's amazing. 11k? Gee! That's really what I'm thinking.... if prices continue to rise, then a mortgage now for someone paying it off in 30 years time will be hardly anything right?
#6
early 30s for £102k in Bristol, 3 bed semi

valued now £189k

still here and loving it
banned#7
shopstilldrops
i was 24 yrs old
bought house in 1994 ( still here )
and i live in the Wirral :D


Much mortgage left?
#8
Doesn't everyones parents buy them their first house :p

Edited By: deb8z on Oct 28, 2010 20:45: A rogue apostrophe :o)
#9
i was 27 , it was 3 years ago ,3 bed, £120 000
banned#10
So as midlandscomics and choc1969 have mentioned, the capital increase is pretty huge.
If these people are still renting, probably not saving much apart from the deposit, then am I right in saying there is going to be a huge gap between the haves and the have nots?

Are we heading into a bit of a class war society?
banned#11
£13,500

1999 (I was 24)

North Manchester
#12
I was 18.
25k in 2003, yorkshire.

Sold it a year later for 49k which paid a nice deposit on my next home.
#13
18-bought a one bed flat for 4.5k-lol-was an utter shell,but was fun doing it up.

my grandad bought a house for £170 and when he passed away my gran sold it for 950k! thats how times have changed!
#14
23, £90'000, 2005, Milton Keynes.

Edited By: hornblowerracing on Oct 28, 2010 20:48: Forgot the year. Doh!
#15
JonnyTwoToes
shopstilldrops
i was 24 yrs old bought house in 1994 ( still here )and i live in the Wirral :D
Much mortgage left?


not much about £22,000 and property is valued at @ £170,000
1 Like #16
DLM
£13,5001999 (I was 24)North Manchester

You're soooooooo gonna get ribbed for that now lol
banned#17
barky
18-bought a one bed flat for 4.5k-lol-was an utter shell,but was fun doing it up.

my grandad bought a house for £170 and when he passed away my gran sold it for 950k! thats how times have changed!


Now that's what you call capital gain!
#18
JonnyTwoToes
So as midlandscomics and choc1969 have mentioned, the capital increase is pretty huge.
If these people are still renting, probably not saving much apart from the deposit, then am I right in saying there is going to be a huge gap between the haves and the have nots?

Are we heading into a bit of a class war society?


Well, we bought it just before the prices started to shoot up - we'd doubled our money on it in about 2 years. The same houses now are probably worth about £130k.
banned#19
deb8z
DLM
£13,5001999 (I was 24)North Manchester
You're soooooooo gonna get ribbed for that now lol

Why?
banned#20
shopstilldrops
JonnyTwoToes
shopstilldrops
i was 24 yrs old bought house in 1994 ( still here )and i live in the Wirral :D
Much mortgage left?



not much about £22,000 and property is valued at @ £170,000


All down to timing then. Nice one!
I don't think enough is being said for the change in these economic dynamics. We are still teaching the same thing, still advising people to save, but the whole issue of 'chance' in terms of timing isn't being looked at.


Edited By: JonnyTwoToes on Oct 28, 2010 20:50: spelling
#21
DLM
deb8z
DLM
£13,5001999 (I was 24)North Manchester
You're soooooooo gonna get ribbed for that now lol
Why?

Coz of how cheap it was.
#22
I was 26, it was last year. Cost £140k (£35k deposit) - East Midlands area - 3 bed semi

Best thing I did. Paid £500 rent in my last house (2 bedroom end terrace, no garden, no drive, small rooms), where we lived for 7 years. Mortgage isn't much more than that
#23
whatsThePoint
midlandscomics
JonnyTwoToes
So as midlandscomics and choc1969 have mentioned,the capital increase is pretty huge.If these people are still renting, probably not saving much apart from the deposit, then am I right in saying there is going to be a huge gap between the haves and the have nots?Are we heading into a bit of a class war society?
Well, we bought it just before the prices started to shoot up - we'd doubled our money on it in about 2 years. The same houses now are probably worth about £130k.


you bought it 2 years ago before the house prices started going up ?
I thought they had been going down for the last 2 years


lol, we bought it in 2002, and had doubled our money by 2004.
banned#24
midlandscomics
JonnyTwoToes
So as midlandscomics and choc1969 have mentioned, the capital increase is pretty huge.
If these people are still renting, probably not saving much apart from the deposit, then am I right in saying there is going to be a huge gap between the haves and the have nots?

Are we heading into a bit of a class war society?


Well, we bought it just before the prices started to shoot up - we'd doubled our money on it in about 2 years. The same houses now are probably worth about £130k.


Will house prices continue to rise at the same pace over the next 30 years? Was there ever a problem with people getting on the property ladder?
banned#25
I do not, and have never, owned a house.
banned#26
sancho1983
I was 26, it was last year. Cost £140k (£35k deposit) - East Midlands area - 3 bed semi

Best thing I did. Paid £500 rent in my last house (2 bedroom end terrace, no garden, no drive, small rooms), where we lived for 7 years. Mortgage isn't much more than that


Not Leicestershire at all? Nice area! :D
banned#27
deb8z
Coz of how cheap it was.

My mortgage was £70 per month.

I only lived there for a year, I got bored of living in such a big house that needed a lot of work doing.

So I sold it for £24k and used the profit to pay off my debts and then I rented for a couple of year's.
banned#28
vibeone
I do not, and have never, owned a house.

Lucky you x
banned 1 Like #29
DLM
deb8z
Coz of how cheap it was.


My mortgage was £70 per month.

I only lived there for a year, I got bored of living in such a big house that needed a lot of work doing.

So I sold it for £24k and used the profit to pay off my debts and then I rented for a couple of year's.


You don't have to defend paying £70 a month in mortgage DLM - you're the clever one!
It's people who work all hours god sends to pay £1000 mortgages that need their heads looking at (IMO)
#30
21, 3 1/2 years ago for 135k...... And it's still worth less. Happy days
banned#31
whatsThePoint
bought mine in my 30's about 12 years ago for £15k no interest to pay so thats the total price i paid
sold 2 years ago for £120k


Deal of the century! I somehow wish I was born ten years earlier!
banned#32
gbspurs
21, 3 1/2 years ago for 135k...... And it's still worth less. Happy days


No matter - 21 is very young to be getting on the property ladder You did well!
#33
Where did you buy a house 12 years ago that was only worth 15 grand and then sold for 120 ?
banned#34
JonnyTwoToes
You don't have to defend paying £70 a month in mortgage DLM - you're the clever one!It's people who work all hours god sends to pay £1000 mortgages that need their heads looking at (IMO)

I pay £250 per month now and owe £40k.

I want to be mortgage free when I am 45 year's old.
#35
looks like none of you live in London then lol.

Still live at home trying to save save save lol
banned#36
numptyj
looks like none of you live in London then lol.Still live at home trying to save save save lol

Get shacked up with a member on here (_;)
#37
JonnyTwoToes
shopstilldrops
JonnyTwoToes
shopstilldrops
i was 24 yrs old bought house in 1994 ( still here )and i live in the Wirral :D
Much mortgage left?
not much about £22,000 and property is valued at @ £170,000
All down to timing then. Nice one!I don't think enough is being said for the change in these economic dynamics. We are still teaching the same thing, still advising people to save, but the whole issue of 'chance' in terms of timing isn't being looked at.

I guess so ! but wasnt intentional, have thought of moving but with having the kids and the thought of the upheavel etc weve give it a miss for now , , we have a reasonable sized house , kids all have there own bedrooms etc , so for now we are thinking 'if it dont need fixing !!! ' ...........on the renting side of things ''how the hell do people do it !!!'' neighbours of ours pay over 3 times more than our mortgage a month oO.......all dead money too !
#38
No matter - 21 is very young to be getting on the property ladder You did well!
------------

Yeah true but I'm failing to see the benefit of being on the property ladder at present!
banned#39
bitseylango
I do wonder if my children will ever be able to afford to buy. Starter homes ( not flats) in a decentish area here are around £120,000. We will probably downsize once they have all left home.


To free up some cash for them?
#40
DLM
numptyj
looks like none of you live in London then lol.Still live at home trying to save save save lol


Get shacked up with a member on here (_;)


so DLM...how are you xx :p

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