Tony Posted September 15, 2004 Share Posted September 15, 2004 This is always a flat time of year for property. People are only just back from the summer hols. Link to comment Share on other sites More sharing options...
Macca Posted September 21, 2004 Share Posted September 21, 2004 I bought in Hillsborough for £60,150 in May 2002.  Similar houses to mine are now going up at around the £92,000 mark. My house would possibly go on at a higher price as it is very modern inside i.e. no chintz, no flock wallpaper...  I would expect it to fetch over £100k.  It's ridiculous - I've nearly doubled my money in just over two years. Link to comment Share on other sites More sharing options...
neeeeeeeeeek Posted September 21, 2004 Share Posted September 21, 2004 Well a friend is trying to buy a house in Hillsborough at the moment that went on the market for 92K I think, last count they had offerers of over 100k so things are still selling. Link to comment Share on other sites More sharing options...
t020 Posted September 21, 2004 Share Posted September 21, 2004 Originally posted by liencam It's ridiculous - I've nearly doubled my money in just over two years. Â Â That would be nice if it was true, but realistically speaking you've only doubled your wealth on paper because, unless you intend on living in a cardboard box, the fact that your house is worth so much more than when you bought it doesn't mean much. Every other house has gone up by similar proportions. Link to comment Share on other sites More sharing options...
jon1 Posted September 22, 2004 Share Posted September 22, 2004 Originally posted by march Think that was more, continue that thread rather than don't discuss it. Â how come you've made 170 odd posts Link to comment Share on other sites More sharing options...
Macca Posted September 22, 2004 Share Posted September 22, 2004 I understand that. Â I intend to use the equity as a deposit on a property off - plan, and then reinvesting the profit from that into a home for myself and my partner. Link to comment Share on other sites More sharing options...
Cyclone Posted September 22, 2004 Share Posted September 22, 2004 you'd still be better off if the market had stayed flat from when you originally bought. That way the difference in price between your house at current value and the flat at current value would be smaller, and since your salary would be the same it would be easier to move up the market. Â Originally posted by liencam I understand that. Â I intend to use the equity as a deposit on a property off - plan, and then reinvesting the profit from that into a home for myself and my partner. Link to comment Share on other sites More sharing options...
Macca Posted September 22, 2004 Share Posted September 22, 2004 I need the equity for my deposit though, so I'd only be in the same position as I was when I bought. Link to comment Share on other sites More sharing options...
sham71 Posted September 22, 2004 Share Posted September 22, 2004 imo, you are making 2 mistakes if your aim is to make money. Â Firstly, you are releasing equity at the exact time when it is people with equity that are in the best position to ride out any down turn in the housing market. Secondly, you are buying off plan at a time when housebuilders are reducing their prices due to excess supply. You may end up with a property that you could have bought cheaper this time next year. Â This, however, is only my opinion........ Link to comment Share on other sites More sharing options...
1Man&hisBMW Posted September 22, 2004 Share Posted September 22, 2004 Originally posted by sham71 imo, you are making 2 mistakes if your aim is to make money. Â Firstly, you are releasing equity at the exact time when it is people with equity that are in the best position to ride out any down turn in the housing market. Secondly, you are buying off plan at a time when housebuilders are reducing their prices due to excess supply. You may end up with a property that you could have bought cheaper this time next year. Â This, however, is only my opinion........ Â I dont think she will get it cheaper next year if shes buying it now 'off plan'. It would have to be a complete balls up in the market, and the developer would have to ride out a margins storm to make it work then. Link to comment Share on other sites More sharing options...
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