/biz/ - Business & Finance

>>49660477
You are so unbelievably fucked

Buy kneepads

>>49660477
Fixed?

>>49660515
But I was spending almost £800 a month renting man
>>49660536
Fixed for 5yr

>>49660477
Why would you buy at the peak of the housing market?

>>49660562
>I was tired of wasting money renting, I wanted to build some equity
>But I was spending almost £800 a month renting man
please do the needful and read thread ser, there its only 3 posts

What else was I suppose to do? Keep wasting money renting? Never build any equity and just hope the housing market crashes in the next year?

>>49660546
Just fucking with you
Increase your income though. Tighten budget if you can
Probably hedge savings in hard assets, idk too much about bongland in terms of local markets

>>49660477
Enjoy being a debt slave for a quarter of a century, faggot.

600 over 25 years.. roughly £180k house?

You'll be fine, negative equity for at worst 2 years then you'll be out of it come time to remortgage

/biz is mostly rentcucks praying for a crash

>>49660605
>600 over 25 years.. roughly £180k house?
Yeah, 190K inc deposit
I couldn't really see how I would be totally fucked unless living expenses tripled or I lost my job honestly.

>>49660597
i'm not a brit, but you might want to check into how much people typically make there. anon isn't doing half bad.
one pound used to be like $5 USD on the gold standard, they got completely ravaged by inflation in the 20th century and things are a little shit there sometimes with respect to income.

>>49660477
>>49660625
you'll be fine, that's honestly cheap if you like living there and will stay for a while. the numbers completely work if your job is stable. just stack assets as you build your equity, don't make this your only investment.
can i ask where in england you got a proper house for that, though? I thought cost of living was more of a disaster there.

>>49660596
Oh, okay. Got me I guess.

Well enjoy seeing similar houses sell for tens of thousands of dollars less in a few months time. At least you saved a few months worth of rent, that's good.

>>49660708
Outside of Nottingham atm, honestly the house is expensive considering real estate prices up north or in Wales.
But I needed to stay within commute distance because of my wife (she wage slaves in the city).
>>49660750
>a few months time
You rentiods have been saying this since COVID

>>49660477
See if you can rent a bedroom out for bonus monies.

>>49660781
well that makes sense. real estate in the US and particularly Canada got a lot more fucky than your market it seems like. probably a lot of burgers and leafs here seeing million dollar homes as the norm and rightfully saying that can't continue.
I do still think it is quite possible that homes decline in value significantly as we turn off the money printers, lots of people can't afford shit to keep up the demand all of a sudden.
but this doesn't change my view that you'll be completely fine with stable income if you want to stay there for more than a few years.

>>49660477
$600/mo, what how? i'm an ameriburger make $160k/yr and will pay $5500k/mo even with a 200k down payment

>>49660892
anon doesn't live in london so shit is actually affordable. probably the same as living near a no-name city in the midwest states. house won't be fancy but it'll be cheap, and they probably don't have the ass-rape property tax we do.

>>49660477
It's 6.10pm. Deano's been queueing on the A76 for over half an hour. He can literally see his house across the ploughed field to his left. He's sure he can see shapes moving in the bedroom window, probably just the gf tidying. He checks his betyid account on his phone, his accumulator is racking up. He's up £14.65 on the championship results, maybe he should cash out. Nah they put that big button there to rob pussies, real legends hold their bets to the bitter end. Besides, that final bet on Mpogbe is guaranteed to come off and he's set to win £420 by 7pm. He turns up the radio as his favourite chart number comes on. He loves this fackin tune and sings his heart out alone in the car, barely keeping up with the lyrics.

He stops singing abruptly as he makes eye contact with a lorry driver and resumes a manly pout. Luckily his shades hide his eyes so nobody can see the shame. Finally he swings round the huge empty roundabout and enters his road. He parks his audi up on the drive, making sure it doesn't grind on the bit of kerb again. cost a fucking bombshell to get that side-trim replaced at the dealership but it looks fucking peng now. Deano still staring at his phone screen, doesn't notice the figures upstairs hurriedly moving about. He opens his pristine PVC double glazed front door unit into his waste of space porch.

His pointy as fuck shoes tread on pizza menus and tv licensing letters. He picks up the tv license letter and thinks he should probably pay it. Deano's tv is so big you could probably see it from at A76 so he'd better be careful. He drops his keys loudly on the side and opens the fridge. Thank fuck! He has a can leftover from the weekend. Still glued to his phone, he shuffles to the back room. The space is bare except for his 65" TV and a large christmas tree that fills half the room. It has 4 baubles on one side as decoration, Deano is proud that he has finally made it.

>>49660968
You tried

>>49660968
didnt read, buying more property

>>49660968
kek'd
Im not a Deano mate, I didnt buy a shit Barret homes new build, I drive a £1K Citroen shitbox I paid for in full and I have no debet other than my house payments.

>>49660968
>pull on my Clarks Beeswax desert boots, black rip-knee slim jeans, my white oxford shirt and cap it off with my green bomber jacket (size medium) from ASOS
>make sure X-Factor semis are set to record on the Sky+HD box before heading out
>lock the door of my 2-bed Barratt New Build behind me
>hop in the VW Golf 2015 TDI 2.0 purchased on a finance agreement
>the missus gets in the passenger seat
>set off on our second trip to IKEA in 2 weeks
>have a wander round the aisles
>debate with the missus whether or not the MALM set of drawers we have in the lounge is too obviously from IKEA and if we should be shopping at somewhere like Oak Furniture Land these days instead now we can afford it after her promotion to Assistant Staff Call Co-ordinator at the call centre
>buy a new desk lamp and potted cactus near the end to have something to make the trip worth while
>grab a bag of mini Daims as well for when we're watching X-factor later
>drop the missus off home
>boost into town, pushing 40 in the freshly paved streets of my exclusive barrat estate because I know there's no cameras
>head over to Smithy's barbershop
>get my usual mates-rates weekly skin-tight-to-number-2 fade undercut from Smithster himself
>meet up with Callum and Deano in spoons and sink a few jars over the footie
>head to the toilet and take a snap of my new haircut with my dick out and send it to the 19-year-old I've been texting for the last 3 days
>head home in the car
>stop in at Raj Mahal's Curry House en route
>pick up a Jalfrezzi and a Korma with rice, poppadoms, tub of extra sauce, veggie pakora and a special nan
>get home, sit down with the missus to watch the X-Factor with the feet up
>wait for the missus to go to bed
>crank one out to some overproduced Brazzers porn downloaded on my outdated BitTorrent client, addled with malware
>check my phone; 19-year-old has text me back a picture of her chebs
>forward it to Davo
>head upstairs and slip in beside the missus in our comfy IKEA bed

>600/m
>32k
>190k house
>wife (two income household)
you'll be fine m8. also more deano posting.

>>49660477
>>49660546
600 quid a month and fixed interest, as long as you keep your job you're doing just fine anon

>>49661588
>>49660968
don’t get these pastas, besides being a chav what is wrong with his lifestyle? sounds nice

>>49660477
If you bought a house you can afford and that you're happy in just stop watching the market. The market is insane and you're better off than when you were renting.

You're good. You're better than good. Enjoy your new digs.

>>49660562
I bought my house at the peak in 2019. The peak is 45% higher today. Property is only going up. Got to make it unaffordable for the rentoid cattle.

>>49660477
I think you've done fine considering you're saving £200/month on rent. So even if your house value drops a bit you arent losing much overall.

How much lending did you get on £32k? I am also looking at buying soon and have a similar salary (34k).

>>49660546
>>49660477
>>49660605
>>49660968
>>49661099
>>49664957
pounds of what? just use money

>>49660546
>Fixed for 5yr
Pay off as much as you can do during this time or take care of the interest, otherwise it might get messy.

>>49660477
Where is your house based buddy? At that price I'd guess around the Welsh valleys? Prices there have stagnated since the early noughties so probably your property will remain at the same price even through a recession if that's the case.

>>49660477
Good decision. Ignore the burgers, they don't understand that housing prices never crash in Europe.

>>49660968
Delicious pasta

>>49660477
>mortgage
poor people shouldn't buy houses, renting is cheaper

>>49664957
I could have got up to 200K on 32K with 10% down.
Go have a meeting with an independent broker (not a bank, they will only tell you about what they can offer, an independent company will look at multiple banks) and see what you can get. You lending will also be effected by whatever else you are on the hook for, ie. car payments and credit card debts.

>>49665404
I talk about that here mate >>49660781, I really wanted to go to Wales because it's so cheap but the missus works in Nottingham at the moment. Hoping to get a raise this year so she can quit and were free to move elsewhere.

>>49660477
So long as you keep switching jobs to keep your pay level with inflation. Then inflation will make your debt smaller in real terms. Inflation is good for holders of debt if their income can keep up.