Housing Market

[backwoodsman]

What £500,00 can buy you in sw Scotland.

Check out this property for sale on PrimeLocation!

Farmhouse for sale in Bankfield Farmhouse, Glenluce, Newton Stewart DG8 - Offers over £475,000

www.primelocation.com

Nice house, nice location. But the amount of lawn that needs cutting is going to cost you, surely?

 

[SwingsitlikeHogan]

I take it that no part of the ownership of the home has been transferred across to him?

None. But as he is over 60 and resident in his mum‘s house the value of the home is not included in any care costs assessment were any such assessment required in the future and he is still living there.

 

[Tashyboy]

This has to be a joke surely? Or are you living in a dreamworld? They need to do the opposite of what you are describing and actually help, such forcing banks to follow the base rate closer and come down as quickly as they go up, extending support given by ISAs and supporting not for profit shared ownership schemes.

Average household income in my borough is around £50k. Much less than that in the age that you would traditionally look to buy a first property. Average price of a 2 bed in the borough is £380k.

People need to be financially prudent in taking out an affordable mortgage and this often means a longer term. Capping at 3x salary would mean the median family on the street (ignoring the bottom 50%!!) might just about be able to afford a studio flat.

'Reset' or crashing the market in other terms would see a huge amount of first time buyers stuck in negative equity and trapped in their first home.

In this world you're describing the rich get richer by snapping up even more property, as most under 40 don't have the salary to meet a more restricted market, and wouldnt have the capital to invest. Rich people would, as would many retirees who own their own.

Too much support is given to older people in this country as they are ones most likely to turn up and vote, so government policy is favourable to that generation over others. Pension reform is long overdue and support should be redirected to young people.

So if we go the way you describe, the house that is now £380k for a two bedroom house will be £500k in five years.So how is that helping first time buyers. Yet you say leave it as it is.
Your last sentence to coin a phrase.This has to be a joke surely? Too much support is given to older people In this country. You need to open your eyes. There’s posts on this forum where people have £750k houses that have been sold to pay for their care. How is that supporting them. Would love to know your thoughts on having paid off your 40 yr mortgage only to sell it to pay for your care.

 

[PJ87]

@bobmac

I appreciate everywhere has drs and dentists (well some) but the past couple days for me just sum up why I don't want to move even when I retire

My daughter fell over and smashed her tooth yesterday, she was given an appointment at 3 today

I dropped my twins to nursery. Walked home (5 mins) drove to the course (15 mins) played golf. Drove home , met my wife (works in her school) who had been given 30 min finish early to take her

We picked up the twins she took them home I took her dentist and walked home (5 mins)

Our drs was across the road and 5 doors until they closed now their a 10 min walk

I can walk to the district line and be in London within 45 mins if I want to go out out

My sister lives round corner, she's going to pop in with my niece Friday

It's having these things close to home that makes it the place to live not the house or the cost of it

I could sell up , buy that house u sent or a similar house to mine and have a richer lifestyle

But I would be happier here

 

[Doon frae Troon]

Nice house, nice location. But the amount of lawn that needs cutting is going to cost you, surely?

Buy a triplex mower and have some fun.
Or
Build your own golf course