Owning your own home

I have a pop up socket it is great, I would go even further, and say get one with a wireless charging top as well, I really wish mine did this.

Does that include replacing the frame? It seems the right ballpark for a quality wood door.

We had ours replaced by a well known London door company and was about £7k all in.

I think most things will be moving to a USBC standard in the coming years so maybe try to pick one of those up to not render yours obsolete in a few years.

Always thought the problem with USB chargers built into sockets is the power they provide is pretty low. Might not be able to power a laptop (ok, this more a thing for an office than kitchen) as they're expecting ~60W+ chargers.

Why not get a pop up socket and then put a proper USB charger in one of the sockets - then as standards change you just change the charger.

I hear you, but it's a risk I'm happy to take , for a couple of reasons

USB-C is backwards compatible for basic functions - A USB-A to USB-C cable will fast charge a low powered USB device (a phone or a speaker, say), and possibly a tablet, which is all I need in the kitchen

I don't need it to power a laptop or gaming console, and I'm not using it for data transfer

If I do need the full USB-C power, I've a couple of 40W / 60W USB-C wall warts that will do the job.

^^ What @duncs said

Nim and Tim? Looks like a nice little practice.

Yes, replacing the frame as well. I thought it was expensive but possibly it was not.
No carbon wheels in 2020 then

Good shout! Things I hadn't considered too.

Viewed a house a few days ago and decided to put in an offer. Been on the market since Jan.

The people who viewed directly after us pipped us at the post and got an offer in first.

We went £5k higher.

The other party matched it.

Agent said vendor didn't want bidding to go higher and would make a decision based on who they thought was in a better position to proceed and be the least likely to flake out later.

We provided proof of deposit and mortgage AIP, as requested, on Tuesday afternoon.

The other party dragged their heels a bit and still hadn't provided the info by yesterday afternoon.

Just had a voicemail from the agent apologising for the delay in the decision making.

Apparently a third set of people have now viewed, since our offers were submitted, and they have also put in a matching offer.

Decision pending from vendor.

Feeling a bit miffed right now. From the chat in the thread I guess I just need to get used to it...

Agent we had for a valuation yesterday reckoned it was the strongest market he'd seen since 2006, and to market for £25k over his valuation (already high) as there'd be a good chance of finding someone who'd pay it.

Doesn't make you feel great about looking at places to move to though.

Is it all people looking to move out of London? Seems to be quite localised variations.

Agent yesterday let slip that a place on in Ealing for 1050,000 was valued at 950000 in March before lockdown

They've had three offers at asking

Literally every house, if it goes for asking, makes it the most expensive house in the street, but these are way off the best house in the street

I want to die

Mostly it seems, but then even our DFL friends are being priced out!

They made an asking price offer on somewhere that would have been 10% cheaper even a year ago, was another offer nominally above asking and they're being asked for best and final offers... fine if you're staying there long term but if you have to sell in the middle of a recession there's gonna be some people taking big hits.

This is insanity. I expected prices in London to drop a little as WFH became the new norm... but I guess not?

Nobody wants a flat I guess

Thats because they know in 6 months they wont be able to give stuff away, and we all know agents are lying bastards too.

I think companies are stepping back from some of the statements about WFH. In financial services I think are likely to end up with some roles fully WFH, some fully office, and most of us wfh 2 or 3 days a week. For a lot of people that's not enough non commute days to want to move far out, but enough at home days to think you might want more space.

Also wonder if some want to get moved in case the market freezes up. If you are confident you can ride out the storm and intend to stay for years you may not mind about nominal falls and would rather buy while there is a good choice of properties.

I'm really confused about what's happening.

Is everyone in total denial that we are entering a massive recession with minimal fiscal or economic firepower to fight it?

Or is it just some kind of suspended animation and the crash will kick in at Christmas?

It's one thing to make an offer for a place, it's another thing to actually be able to go through with it. I also think there are a lot of lies going round too, but then maybe not. I can't say I've seen too much come on to the portals then actually be taken off because they've gone beyond SSTC, either.

But. I suspect basically every flat being canned from the market is having an effect. And I think there's the pent up demand, and combined with agents stoking things it's creating the seller's market.

I also suspect there are just a lot of people with a lot of money for some reason and they aren't afraid of paying £100k over what the same place sold for in December last year. That I don't really understand. They must be so fucking rich and so fucking young.

I guess the stamp duty holiday has helped but I think it was unnecessary and it's really fucked over people like me who sold before lock-down and now have nowhere to go.

Might find myself reneging on our exchange. Or renegotiating an even longer delay. Fun times.

Yeah, that's a pretty shit situation.

If there is any way you can wait it out for 6 months or so, it seems inevitable that some kind of sanity will have to return.

It's just when...

What's that phrase about the market, insanity and liquidity?

Yes, I was just thinking of exactly that.

I think it's "irrational".

Edit:

As Keynes said in the 1930s: “Markets can stay irrational longer than you can stay solvent.”

in my case I've been stuck trying to buy this place since November and I just want to get on with my life. I cant face renting anymore and I can't face going through this ever again...

I know that may not be sensible. My gf has had a really rough year personally though and we need this done. If I was on my own I would prob walk away. And probably leave the UK!

Sounds shady... either the agent or seller is playing games there.

I would guess being sat staring at the same 4 walls has got a lot of people questioning their house and looking around.
Another aspect will be the stamp duty freeze.