Guest Neutral Posted January 11, 2008 Report Share Posted January 11, 2008 Buy to rent is the way to go Quote Link to comment Share on other sites More sharing options...
Brymon Posted January 11, 2008 Report Share Posted January 11, 2008 I feel very lucky with what i got. A 3 bedroom semi, a converted loft, garage and a massive garden. I'll have been in my house 4 years in April. I paid just over 70k for it which at the time was quite good. I stay in Northfield so i think that may have had something to do with the price, but its quite a decent area, with decent folk living round about and all the kids (Trouble) hang out quite a bit from me.My next door neighbours have just their house up for sale and they are asking for offers over 120k. Im hoping to sell up this year, after i get married so hopefully ill double my money. Not bad for doing fuck all for 4 years!!!I was actually looking at houses out by Westhills, Kingswells etc and prices for decent houses didn't seem as bad as i woud have thought. Hopefully they stay round about that area.The funny thing is my youngest bro has just purchased a one bedroom flat above the Crows Nest for i think about 90k which is mental, especially for the size of it. Give me a massive house in the Suburbs any day!! Quote Link to comment Share on other sites More sharing options...
stuartmaxwell Posted January 11, 2008 Report Share Posted January 11, 2008 i would never buy a house above a public premises near the red light district in aberdeen, but unfortunately it seems the only way to get on the ladder in aberdeen at a young-ish age Quote Link to comment Share on other sites More sharing options...
Brymon Posted January 11, 2008 Report Share Posted January 11, 2008 i would never buy a house above a public premises near the red light district in aberdeen, but unfortunately it seems the only way to get on the ladder in aberdeen at a young-ish ageI disagree with to an extent, my other bro paid 65k roughly for a pretty nice 3 bedroom flat although it's in Middlefield in the depths, it's been successfully broken into once and unsuccessfully broken into about 6 times!!Im not sure exactly where else he looked but i believe above said bar was one of the cheapest. Least he doesn't have far to go for a pint or a shag!!! Quote Link to comment Share on other sites More sharing options...
stuartmaxwell Posted January 11, 2008 Report Share Posted January 11, 2008 my line of thought is buy a not so nice house in a nice area as opposed to a nice house in a shit area, it pays dividends in he long runstill, aberdeen is stupid. i just bought my place for 85k (nice two bedroom about 20 mins from city centre), the same house in abdn would be offers over 110k with it going for about 130k. its criminal Quote Link to comment Share on other sites More sharing options...
Brymon Posted January 11, 2008 Report Share Posted January 11, 2008 I get monthly updates from ourproperty.co.uk with prices houses get sold for around my area (Northfield shh) and the prices are nuts, especially the pre fabs around cummins park. Quote Link to comment Share on other sites More sharing options...
Fridge Posted January 14, 2008 Report Share Posted January 14, 2008 It's not just the town where prices are escalating.I live up in new Aberdour, and five years ago I bought a seven bedroomed former manse with 3/4 acre garden. I paid the princely sum (then) of 130k. i have recently had it valued at 400k. However, this is really just virtual money, as the only way to make money on it would be to downsize (which I don't want to do) to avoid spending any"profit" on another house.As mentioned above, buying to let is definitely the way to go. I bought two flats in the West end of Aberdeen just over a year ago, and though they were costly, it has certainly paid dividends and shpuld be a nice nest egg for the future.Which is really just as well seeing as pensions are totally fucked, but that's a story for another day....... Quote Link to comment Share on other sites More sharing options...
Bigsby Posted January 14, 2008 Report Share Posted January 14, 2008 As mentioned above, buying to let is definitely the way to go. I bought two flats in the West end of Aberdeen just over a year ago, and though they were costly, it has certainly paid dividends and shpuld be a nice nest egg for the future.As, so it's YOU who's buying up properties that you don't need to live in, driving up the price to buy AND rent and perpetuating the housing crisis.Although it's unlikely, let's hope there IS a housing price crash and the bottom falls out of the buy to let market, leaving you with some flats you can't lease and the prospect of negative equity. Quote Link to comment Share on other sites More sharing options...
Guest Tam o' Shantie Posted January 14, 2008 Report Share Posted January 14, 2008 yes, shame on him for making an investment Quote Link to comment Share on other sites More sharing options...
Bigsby Posted January 14, 2008 Report Share Posted January 14, 2008 yes, shame on him for making an investmentHe could invest in stocks and shares, put his money in the bank, do the lottery for all I care, all sorts of stuff. Do you support all those "entrepreneurs" who "invest" in tickets for things like T in the Park simply so they can sell them for profit? Quote Link to comment Share on other sites More sharing options...
Guest Tam o' Shantie Posted January 14, 2008 Report Share Posted January 14, 2008 He could invest in stocks and shares, put his money in the bank, do the lottery for all I care, all sorts of stuff. Do you support all those "entrepreneurs" who "invest" in tickets for things like T in the Park simply so they can sell them for profit?Most stock & share accounts are either far more risky or pay far lower dividends, putting your money in a bank will do fuck all to make it grow, and playing the lottery is in no sense of the word an investment. A normal person is perfectly entitled to own as many properties as he or she can afford...how can you possibly disagree with this? As per your T In the Park question, I don't really see how it's properly relevant to this argument, but if fucking morons are willing to pay through the nose to see a bunch of lame acts in a field full of neds just because there are no official tickets left, then that's their problem, not mine. Quote Link to comment Share on other sites More sharing options...
shaun Posted January 14, 2008 Report Share Posted January 14, 2008 He could invest in stocks and shares, put his money in the bank, do the lottery for all I care, all sorts of stuff. Do you support all those "entrepreneurs" who "invest" in tickets for things like T in the Park simply so they can sell them for profit?you are going to be so pissed off when you find out about channel 4's property ladder. Quote Link to comment Share on other sites More sharing options...
Bigsby Posted January 14, 2008 Report Share Posted January 14, 2008 A normal person is perfectly entitled to own as many properties as he or she can afford...how can you possibly disagree with this? Yep, entirely legitimate, completely legal, and the type of capitalist behaviour that is necessary to make the world go round.Still doesn't mean I have to agree with it or think it's morally acceptable though. you are going to be so pissed off when you find out about channel 4's property ladder.Ha, I actually like watching Property Ladder, mostly to enjoy watching the people ignore her usually sound advice, and also because of "Beeney's Babies". 8-) Quote Link to comment Share on other sites More sharing options...
Guest Neutral Posted January 14, 2008 Report Share Posted January 14, 2008 Yep, entirely legitimate, completely legal, and the type of capitalist behaviour that is necessary to make the world go round.Still doesn't mean I have to agree with it or think it's morally acceptable though. Ha, I actually like watching Property Ladder, mostly to enjoy watching the people ignore her usually sound advice, and also because of "Beeney's Babies". 8-)But it is morally acceptable and you make a lot of money from it assuming you have a 3+ bed room flat after council tax and mortage and insurance, electric and gas its not a bad little morally acceptable sum:up: Quote Link to comment Share on other sites More sharing options...
Bigsby Posted January 14, 2008 Report Share Posted January 14, 2008 But it is morally acceptable and you make a lot of money from it assuming you have a 3+ bed room flat after council tax and mortage and insurance, electric and gas its not a bad little morally acceptable sum:up:Shows how much I know then, I would have assumed that all those things you list would be paid by the tenant, rather than the owner, but I'm clearly not an expert in the field of property leasing like you are. Quote Link to comment Share on other sites More sharing options...
Guest Neutral Posted January 14, 2008 Report Share Posted January 14, 2008 Shows how much I know then, I would have assumed that all those things you list would be paid by the tenant, rather than the owner, but I'm clearly not an expert in the field of property leasing like you are.It is a lot easier to add them together Quote Link to comment Share on other sites More sharing options...
Chris Posted January 14, 2008 Report Share Posted January 14, 2008 It is a lot easier to add them together with an slightly overestimated value for gas and electric Wait a minute, are you saying you over charge your tenants for utility bills?Quite foolish of you to admit that publicly on a local website if you do. Quote Link to comment Share on other sites More sharing options...
Bigsby Posted January 14, 2008 Report Share Posted January 14, 2008 It is a lot easier to add them together Good job you had the chance to edit that before somebody quoted it.Oh wait... Quote Link to comment Share on other sites More sharing options...
Guest Neutral Posted January 14, 2008 Report Share Posted January 14, 2008 I didnt say that otherwise it would have said post edited. I dont think they would understand anyway.They would have to prove it anywaypowoedzenia Quote Link to comment Share on other sites More sharing options...
Chris Posted January 14, 2008 Report Share Posted January 14, 2008 I didnt say that otherwise it would have said post edited. I dont think they would understand anyway.They would have to prove it anywaypowoedzeniaActually you get a certain amount of time to stealth edit posts before it says post edited.I'm sure the database will have the log of your edit though so proof wouldn't be a problem you shady slum lord. Quote Link to comment Share on other sites More sharing options...
spellchecker Posted January 15, 2008 Report Share Posted January 15, 2008 not to dissuade anyone from the property market, but there are other ways to invest. an interesting 1-day read is a book called "rich dad, poor dad". it has quite a capitalist feel to it at times, but can appeal to anyone from a minimum wage up to highest earners. some good advice in there, related to general personal finance and identifying what are your assets and what are your liabilities. the city library has it.the thing about investing in property is the hidden costs, some of which arguably are cost of living regardless of whether you rent or own your own home. i bought my first property in 2001 and sold it exactly five years later, making on the face of it, close to a six figure sum. however, i diverted a large portion of investable income over the five years not only to mortgage payments, but to renovation, maintenance and other costs (i.e. building insurance, etc). in reality i made only two thirds of the final profit, after costs. i was lucky in so many ways: bought undervalue, sold overvalue with over 10 bids, and no major maintenance costs in my ownership. some people aren't so lucky though - in the rush to get in the market, some people may end up with properties that actually lose them money, even if the market remains buoyant: consider the cost of a new tenement roof (approx 30000), wet/dry rot in timbers, building subsidence, local depreciation due to crime, bad press, unpopular new surrounding facilities/buildings, etc. etc.so whilst the stock market is not for everyone it can serve as a useful part of anyone's portfolio for growth. one requires less capital, with the right self-taught knowledge, to begin investing in the stock market compared to the property market. in any high-return investment there is always risk and in the stock market i suppose it is just more visible - people tend to forget about the property market crashes when the market is buoyant. whether the market does crash, stagnate further or just slightly weaken this year, i reckon like other people have said in Aberdeen it will remain strong - there is just too much money and too many investors willing to invest in property here.i would recommend any person in their early twenties - whether you have any money to invest or not - to loan that book and read it. if only to make you aware of your money - not only how it affects you and your choices - but how not to let it limit your decisions and choices in life. Quote Link to comment Share on other sites More sharing options...
Neil Posted January 15, 2008 Report Share Posted January 15, 2008 They say diversity is the key when it comes to investments don't they? That's what I've tried to always do...keep a mix of stock, savings, private pension etc. I refuse to buy anywhere in Aberdeen at the moment because I'm going to have to significantly pay more than something is actually worth in order to own it. And that doesn't make sense to me anyway you look at it (just because everyone else is stupid enough to do it doesn't mean I'm going to as well). Being a would-be first-time buyer doesn’t exactly help either.Bring on the recession and higher interest rates please. Then once the re-possessions start I'll swoop in for the kill...Alternatively, I could just wait 15 years when no-one wants to live here anymore as there won’t be anymore decent money to be made from the North Sea. That’s when the property prices will really start to come down… Quote Link to comment Share on other sites More sharing options...
stuartmaxwell Posted January 15, 2008 Report Share Posted January 15, 2008 its a marketing thing, at this time of year they make the offers over much lower to generate more interest in the flat and encourage notes of interest which will allow them to stick a closing date on it Quote Link to comment Share on other sites More sharing options...
Chris Posted January 16, 2008 Report Share Posted January 16, 2008 Average price over the last 17 sales in Fonthill... 157,667. I somehow thought it would be rather a lot higher than that.There aren't just nice 2 bedroom executive flats like the one you guys are in on fonthill though, it's the other flats that will bring the average down. Quote Link to comment Share on other sites More sharing options...
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