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The homes in Cornwall with prices that have 'fallen faster than Bitcoin'


Frank Hovis

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59 minutes ago, sancho panza said:

Absolutely.me and the good lady are working a similar strategy to effectively rent at 3% and then build the retirement fund to give us enough to rent and live anywhere in the world.

With liquid assets you aren't necessarily tied to any one area.

Obviously,if house prices halve the maths changes to a degree.We might have to revisit buying but most places in Leicester aren't places you'd want to live in ten years.

My new landlords gross yield will be just under 2%. After costs probably somewhere just over 1%

His only benefit is that the property will be looked after.

I will be very interested to see what my current place goes on the market for.

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On 31/01/2019 at 09:13, DoINeedOne said:

I would love to buy something similar down that way but just not a listed building and spend all my time there restoring it

Don't do it if you have any sense, not unless you're retired and have loads of experience anyway. Otherwise it's a false economy, you may as well get the professional in, IMO.

That looks like it needs 200-300k spending on it, so serious negative equity risk too I think for that area...

Anyway, why has nobody posted this from the article - imagine having the gall to ask for £800k!

https://www.zoopla.co.uk/for-sale/details/48403273?search_identifier=84eb310a27e1652aeefe02ea5f34ce59

 

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5 minutes ago, spunko said:

Don't do it if you have any sense, not unless you're retired and have loads of experience anyway. Otherwise it's a false economy, you may as well get the professional in, IMO.

That looks like it needs 200-300k spending on it, so serious negative equity risk too I think for that area...

Anyway, why has nobody posted this from the article - imagine having the gall to ask for £800k!

https://www.zoopla.co.uk/for-sale/details/48403273?search_identifier=84eb310a27e1652aeefe02ea5f34ce59

 

Yeah I know I would get stressed after a while, but I would like a home with a nice bit of land to maybe build an office/workshop

certainly won't get that space in London

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10 hours ago, spunko said:

Don't do it if you have any sense, not unless you're retired and have loads of experience anyway. Otherwise it's a false economy, you may as well get the professional in, IMO.

That looks like it needs 200-300k spending on it, so serious negative equity risk too I think for that area...

Anyway, why has nobody posted this from the article - imagine having the gall to ask for £800k!

https://www.zoopla.co.uk/for-sale/details/48403273?search_identifier=84eb310a27e1652aeefe02ea5f34ce59

 

 

10 hours ago, DoINeedOne said:

Yeah I know I would get stressed after a while, but I would like a home with a nice bit of land to maybe build an office/workshop

certainly won't get that space in London

 

Surely there must be another 2 acres of land somewhere to be included to be  asking for that ridiculous price? 

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On 31/01/2019 at 12:49, sancho panza said:

Absolutely.me and the good lady are working a similar strategy to effectively rent at 3% and then build the retirement fund to give us enough to rent and live anywhere in the world.

With liquid assets you aren't necessarily tied to any one area.

Obviously,if house prices halve the maths changes to a degree.We might have to revisit buying but most places in Leicester aren't places you'd want to live in ten years.

Me too! Although the yield is getting higher now that selling prices are falling a little.

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Shatner's Bassoon
1 hour ago, Bear Hug said:

Me too! Although the yield is getting higher now that selling prices are falling a little.

I'm in the same boat. Good to see others here with the same thinking. I can't say it was exactly the original plan (it's crackers when you think about it) but very happy with the situation now - dividends and compounding are making it easier every year and our rent's less now than it was in 2002. I'm also lucky that I have an understanding wife - we're both into minimalism and neither of us wanted kids. Rarely discuss it with friends and colleagues and am sure they look down on us for still renting. Not sure we'll ever buy where we are now (Manchester) though could buy somewhere outright now. Fully onboard with Sancho's idea of renting anywhere abroad. The idea of escaping the north west in winter and disappearing to somewhere like Puglia for 6 months is very appealing.

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1 hour ago, Shatner's Bassoon said:

I'm in the same boat. Good to see others here with the same thinking. I can't say it was exactly the original plan (it's crackers when you think about it) but very happy with the situation now - dividends and compounding are making it easier every year and our rent's less now than it was in 2002. I'm also lucky that I have an understanding wife - we're both into minimalism and neither of us wanted kids. Rarely discuss it with friends and colleagues and am sure they look down on us for still renting. Not sure we'll ever buy where we are now (Manchester) though could buy somewhere outright now. Fully onboard with Sancho's idea of renting anywhere abroad. The idea of escaping the north west in winter and disappearing to somewhere like Puglia for 6 months is very appealing.

That's very much where we are.Whilst I've been raised in a family where investments were discussed from an early age,Mrs P didn't tkae too long to understand the simple maths that our investments were outperforming HPI,giving us lots more freedom than if we tied ourselves to one house and ploughed a chunk of our capital into it.

As I excplained to her.The next house up we'd like to live in rents on a near 2% yield-nice big 4 bed detached-at the minute.So allowing for interest payments on a mortgage, maintenance,buildings insurance, the actual repayments of the capital etc etc, we can rent it for 75 years as opposed to owning it on current prices.Why would we want to buy it....?

Whilst renting has it's downsides in terms of security of tenure,there are upsides.Having said that,if we were renting on an 8%+ gross yield,we'd probably think about buying it.

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