Owning your own home

a day and a half relisted for sale and now under offer and off the market to a FTB with a big 55% deposit.
fingers crossed on this one...

feel sorry for anyone buying at the moment, seems quite spicy if you are buying, we cancelled half a dozen viewings today.

Fingers crossed for you!

@leggy_blonde thanks, think our seller was cool about the whole thing as they had suffered the same from their first buyer, was worried about them re-listing but 2 and a half days between losing and getting a buyer should calm things down a bit. (hopefully)

That's amazing. Did you get the same as before. Must be a big relief.

£3k less. could have held out for more viewings but didn’t want to create a chain and add delays.
at 3:30 we asked if they had an AIP which they didn’t but they had one by 5:30
i’ll take today as a win.

FTB with a big 55%

Wtf

Good result there I reckon. Hope this goes through for you.

Someone’s relative died is usually the answer.

Wtf

My first reaction too

still a big ol chunk of cash, cos it'll probably need to have paid 40% inheritance tax too.

Maybe. Plenty of ways around that unfortunately. Still loads of old people sitting in fucking piles in Surrey etc.

Croak in one of those and suddenly their kids get £1m each.

Aye it’s wild, house is worth fuck all land is worth millions. Happened with someone I knows gran in St Albans. St was full of unreal pads and just her wee house with mountains of land

house is worth fuck all land is worth millions.

If you can build on it. If you can't it's worth feck all as extra garden land.

Our first time buyer had a £580k deposit 😬

I'll insert myself into the golf club a bit later today, but I had a deposit that started with a 6 when I purchased our new house. And I'd say "only" 100k of that was my own money. This is in no way a boast as I've done absolutely nothing of merit to achieve this myself and I am abjectly average in my professional field of expertise.

The rest was all capital gains from the last two properties we owned in London.

My estate agent Said to me a while ago "you would not believe how much money some people in London have". He's right. You throw in a bit of bank of mum and dad and a lot of people have enormous deposits. The flip side is they are very much needed due to the obscene costs of the process.

Eta the bloke buying my house is 33 and had a 250k deposit.

I mean, that's only a modest number of bitcoins.

That’ll definitely land you in the golf club :D but more power to you, IMO!

And yeh, London is bonkers.

I know somebody who moved along the kings road from the double kink past the posh garage towards parsons green and slighly downsized from the georgian townhouse (that they sold to a footballer) the kids had flown the nest by the end of the process and each step of moving 1km down the road liberated 1-1.25 million every 2 years.

Blimey!

I love where we live now, but I do at the same time see it as a bit of a nest egg. Not all smooth sailing, so roll with the punches!

I worked somewhere and the girl in the office had a 500k deposit. She totally ticked about looking at flat in 2 years she was moaning she couldn't afford to buy ones she liked previously. TOUGH AT THE TOP for sure.

Nice if you like paying the 10% marginal stamp duty band I suppose.

Thats what happened on the rest of the street apparently, all big mcmansions. So i dont imagine that would have been a problem.

Friend of my mum's bought a 5 bed detached house with decent sized garden in Chiswick in 1978 for around £60k (£366 ,000 in modern money). She fainted when it was valued a couple of years ago as she was worried that she wouldn't have enough to buy her dream retirement cottage in the country - she honestly had no idea of how much it was worth.

in 1978 for around £60k

I think the thing that gets forgotten in these stories is that this represents (on a quick Google) around 6x the national average house price at that time. The people that have made multi-million pound gains were, by and large, already very wealthy by national standards.

can't believe you'd doxx user amey like this