Do you own your home ?

[mina1929]

Well, I've a friend willing to put me up in the interim, which is less than ideal as that'll be her, her 3 kids, roommate, 2 dogs and cat...throwing me in the mix with 2 more dogs and 2 cats (and if anyone knows me at all, they'd know I'd live in a tent in a forest with the 2 dogs before I'd part with either of them).

My big problem is finding a place that's 1.pet friendly and 2. has a yard while 3. still fits into a budget I can carry monthly. And this is a pretty small town with few options.

The crappy part, is not only will I have to move twice (moving/trucks fees I can't afford) but I'm pretty much going to have to scrap more than half my belongings since there's pretty much no way I can keep the furniture I've accrued over the years there.

Lemmie tells ya, I was realllllly hoping that TDKR FS would have popped for me


These things tend to work out; so I've faith.
That or I'll be in the looney bin with the stress

I really do wish you so much luck, I hope it will happen very soon

 

[Harry_BKK]

True... but by the time it's paid off, it's WORTH 2-4 times the purchase price - you have to remember that. (At least, in the UK it is).
e.g. a friend of mine just sold the house he bought in the mid-80's for £37,000 - and got £475,000!

I also got on the housing ladder in the mid-80's, thank god. Now, after 2 re-mortgages, I only have a couple of years more to pay.
House prices in most of the UK are totally INSANE. I honestly fear for my kids - if we don't help them (which hopefully we will be in a position to do by the time they leave home) I can't see how they could EVER buy their own place. It makes me sick

KK

If you are one of the lucky ones to have bought late 70's - 80's.

The increase in value is not guaranteed. My brother and me still own together our family house&property in Romania, 2007 it was worth 200K EUR and rising fast due to Brasov Airport to be build and some major clinics just few miles from the village. 2008 came then the big stopper, the airport is still not finished, clinics were not build and the value is just about creeping slowly up again to around 40K.

The UK is somewhat special for the housing market as you have a big percentage of home owners. The first houses are mostly used to trade up for larger ones as the years go by and to make a nice profit, hence the prices sky rocketed. I bought mine in the Midlands in 1998 and sold it in 2002 for double the price, and i had nothing done to it, e.g. renovations or the sort.

But you are right, i think sometimes too, how will the next generation be able to pay for a house unless they have some super highly paid jobs.

 

[KasinoKing]

The increase in value is not guaranteed. My brother and me still own together our family house&property in Romania, 2007 it was worth 200K EUR and rising fast due to Brasov Airport to be build and some major clinics just few miles from the village. 2008 came then the big stopper, the airport is still not finished, clinics were not build and the value is just about creeping slowly up again to around 40K.

Don't you mean 400K?

We bought a house in the Czech Republic 10 years ago (VERY cheap by UK standards): 2 years ago we had it valued - and it was still worth exactly the same!
Mind you, that's probably the same story across most of Eastern Europe, as since joining the EU half the population has moved to the UK leaving a massive surplus of housing stock!

KK

 

[Harry_BKK]

Don't you mean 400K?

We bought a house in the Czech Republic 10 years ago (VERY cheap by UK standards): 2 years ago we had it valued - and it was still worth exactly the same!
Mind you, that's probably the same story across most of Eastern Europe, as since joining the EU half the population has moved to the UK leaving a massive surplus of housing stock!

KK

It is 40K indeed, unfortunately.

The house was build in 1824, hence not the most modern pad, additionally after our emigration the Romanian government let some gypsies live in it for some 20 years and they never done any work on it. We evicted them once we managed to have it returned to us by the courts (took more than 15 years) , but I'm afraid the damage was already done. Hence it is in a very poor state, the property though is massive, you could build at least 20 houses on it, each with a good sized garden and double car garage.

Not only did the young generation leave the country, but the former Eastern Bloc countries were hit much harder by the 2008 crisis and the recovery will take longer. It will be OK once they finished that airport, runway is done, just no terminal building. Estimates are that it will be 2019-2020 before the first planes will take off, so more patience is needed.

 

[mina1929]

I am renting, never owned a home as I am single with a single income. The houses in Australia are way too expensive even renting.

I lived in my place for over ten years now with my son and daughter. Daughter moved out now to follow her career.

I am pretty lucky as I will never have to move from here and I love the area

Living costs are expensive especially electricity, food, petrol etc

I would've loved to own my own home but would not be happy to pay the mortgage for the rest of my life, land rates and water on top of that. My sister owns her own home being single herself paying the mortgage etc she finds it hard to get the funds to do repairs on her home which is slowly falling apart

 

[Casinomeister]

You may be interested to know that 40% of our traffic at Casinomeister is 25-34 years old. And I would guess that most of these youngins don't own houses outright - yet.

18-24 year old peeps represent 15% of the traffic. I wouldn't expect them to own houses unless they inherited them.

Oldtimers like me - 55-64 - is 6% of our traffic. Yep, I own my home.

Now this is our traffic which includes all visitors. It's hard to say what the actual forum membership is age-wise.

 

[geordiecolin]

Well, I've a friend willing to put me up in the interim, which is less than ideal as that'll be her, her 3 kids, roommate, 2 dogs and cat...throwing me in the mix with 2 more dogs and 2 cats (and if anyone knows me at all, they'd know I'd live in a tent in a forest with the 2 dogs before I'd part with either of them).

My big problem is finding a place that's 1.pet friendly and 2. has a yard while 3. still fits into a budget I can carry monthly. And this is a pretty small town with few options.

The crappy part, is not only will I have to move twice (moving/trucks fees I can't afford) but I'm pretty much going to have to scrap more than half my belongings since there's pretty much no way I can keep the furniture I've accrued over the years there.

Lemmie tells ya, I was realllllly hoping that TDKR FS would have popped for me


These things tend to work out; so I've faith.
That or I'll be in the looney bin with the stress

I am so sorry to hear about your situation buddy.
I know that it is very impertinent of me to suggest this but if ever a promo offer that those wonderful folk at RIZK gave to Jonmincher where to happen again then I would vote for you to be the next recipient. Though that notion is not something to pin any hopes on.
Good luck mate

 

[hedgehok]

@OP: Don't be embittered. You have 4 healthy children and every reason to be happy.

I'm 32 and I'm doing quite decent financially.

I don't have a family yet so basically all the monthly surplus goes into the savings account (stocks, gold, some treasuries and bonds). If I ever decide to buy a house here which is roughly between €350,000 - €600,000 (rural Mainz/Frankfurt area) I will be able to deposit more than 20% and will have support from my family so it should be fine.

However many of my friends and people I know are having a very hard time to ever own their own property or will need to work to 70 to get it paid off. Some of them shouldn't really buy a house but they obviously feel the pressure when all of their friends/colleagues buy a house they should too while interest rates are low. I think this is a terrible mistake - at some point in time interest rates will go up again and they will struggle to pay their amortisation.

We got some 30-40 refugee families in our small town and the housing situation was rough before they came so I expect prizes to rise further same as rental expenses for tenants.

 

[goatwack]

@OP: Don't be embittered. You have 4 healthy children and every reason to be happy.

I'm 32 and I'm doing quite decent financially.

I don't have a family yet so basically all the monthly surplus goes into the savings account (stocks, gold, some treasuries and bonds). If I ever decide to buy a house here which is roughly between €350,000 - €600,000 (rural Mainz/Frankfurt area) I will be able to deposit more than 20% and will have support from my family so it should be fine.

However many of my friends and people I know are having a very hard time to ever own their own property or will need to work to 70 to get it paid off. Some of them shouldn't really buy a house but they obviously feel the pressure when all of their friends/colleagues buy a house they should too while interest rates are low. I think this is a terrible mistake - at some point in time interest rates will go up again and they will struggle to pay their amortisation.

We got some 30-40 refugee families in our small town and the housing situation was rough before they came so I expect prizes to rise further same as rental expenses for tenants.

Cue inevitable "Immigrants get too many prizes" thread

 

[dionysus]

Just some pics of where I live (well, at least until Thursday)

https://www.casinomeister.com/forums/threads/74133/

 

[Mousey]

Twas a relief when mortgage paid off. However like Jas, just usual little maintenance things that I can't do myself run into $$, not to mention larger expenses - like new central A/C system last year - which took a huge chunk. I've tried over the years to keep $ in a little savings account separate for these sort of things, but problem is, I can't pay myself back now when I have to dig into those funds. The homeowners insurance and annual property tax are not cheap, and I live in a rural county/small town where things are still comparatively reasonable.

Having said all that, renting a decent house or apt here would have cost twice as much as my house payment (which had included the insurance and taxes).

For those wishing they owned for their older years, take into consideration that many choose to sell and then rent when not wanting the yard, the maintenance, the utility bill for 3 extra rooms they never use. Around here, this house will sell for twice the original asking price - BUT when you add in the interest paid to the bank for 23 years, I possibly could sell for just about the equivalent of the total money put into buying this now 50 year old house.

There's a heck of a lot to consider when buying a home.

 

[KasinoKing]

You may be interested to know that 40% of our traffic at Casinomeister is 25-34 years old. And I would guess that most of these youngins don't own houses outright - yet.

18-24 year old peeps represent 15% of the traffic. I wouldn't expect them to own houses unless they inherited them.

Oldtimers like me - 55-64 - is 6% of our traffic. Yep, I own my home.

Now this is our traffic which includes all visitors. It's hard to say what the actual forum membership is age-wise.

Can I just ask - how do you know the age of visitors who haven't signed-up an account at the forum?

KK

 

[geordiecolin]

Can I just ask - how do you know the age of visitors who haven't signed-up an account at the forum?

KK

There are no figures for the over 64's because this online slots mallarky is liable to do away with you before you reach retirement age

 

[neilw]

Can I just ask - how do you know the age of visitors who haven't signed-up an account at the forum?

KK

Probably Google Analytics, it gives a breakdown of the demographics of traffic, age range & sex.

How Google determines demographic information
When someone visits a website that has partnered with the Google Display Network, Google stores a number in their browsers (using a "cookie") to remember their visits. This number uniquely identifies a web browser on a specific computer, not a specific person. Browsers may be associated with a demographic category, such as gender, age range, or parental status, based on the sites that were visited.

In addition, some sites might provide us with demographic information that people share on certain websites, such as social networking sites. We may also use demographics derived from Google profiles.

 

[Jasminebed]

For those wishing they owned for their older years, take into consideration that many choose to sell and then rent when not wanting the yard, the maintenance, the utility bill for 3 extra rooms they never use. Around here, this house will sell for twice the original asking price - BUT when you add in the interest paid to the bank for 23 years, I possibly could sell for just about the equivalent of the total money put into buying this now 50 year old house.

There's a heck of a lot to consider when buying a home.

Around here, it's usually about the same to rent a house as to make a mortgage payment and property taxes. You would not have the major repairs to contend with as a rentor, but you also don't have any of the money back in equity either at the end of term. You rent a house, you pay the utilities, same as if you owned and lived in it.

If you rent a house, you face as Dion is currently, or MissMonopoly, having your landlord sell the property.

Rent an apartment, and you don't face that same risk usually.

Renting out part of all of your home is not without risks either. There have been very few tenants over 11 years (at two different period of my life) I've had tenants leave without being owed something. You need to have the income to make the payments whether or not they pay their rent.

However, I still strongly believe that home ownership is one of the best long-term investments you can make.

 

[jjezebel37]

I am so sorry to hear about your situation buddy.
I know that it is very impertinent of me to suggest this but if ever a promo offer that those wonderful folk at RIZK gave to Jonmincher where to happen again then I would vote for you to be the next recipient. Though that notion is not something to pin any hopes on.
Good luck mate

Definitely agree with this.

 

[Wild Reels]

I've just bought my first house at 41, with a moderate sized mortgage which is down to having sensible parents on both sides rather than any of my financial savvyness, previous to that i was renting an awful 2 bed terrace, although this didnt bother me at all, but seemed to bother everyone else

What having to pay a mortgage and owning a house has done is to re-evaluate my spending, not in a too dramatic way, but i've certainly made sure all bills get paid asap, and money gets saved before i play slots, hence less win videos and or loss sessions

And I'm working more than ever, with normal job +website on days off.

 

[Tirilej]

I forgot what I said. You do that too

 

[interlog]

I was lucky to have paid off my mortgage when I was 45 years of age. Lucky I bought the property dirt cheap when I started the 25 year mortgage term.

Had I rented the property I would have paid the equivalent in rent with nothing to show for.

 

[vinylweatherman]

Probably Google Analytics, it gives a breakdown of the demographics of traffic, age range & sex.

How Google determines demographic information
When someone visits a website that has partnered with the Google Display Network, Google stores a number in their browsers (using a "cookie") to remember their visits. This number uniquely identifies a web browser on a specific computer, not a specific person. Browsers may be associated with a demographic category, such as gender, age range, or parental status, based on the sites that were visited.

In addition, some sites might provide us with demographic information that people share on certain websites, such as social networking sites. We may also use demographics derived from Google profiles.

Surely this wouldn't work on Casinomeister as we are forever clearing out our cookies and cache on the advice of casino support


I bought this house with a work colleague back in 1986. It was a mathematical decision, the mortgage payments were slightly cheaper than the rent, and prices were going up fast. We probably bought just in time as the place doubled in value, then halved in value back to where it started during the 90's crash. At this point, we used our split agreement, I bought him out (didn't cost much thanks to the crash), took over the mortgage, and he bought his own place close to the bottom of the market. We could manage this because our incomes had risen sufficiently to qualify for a mortgage each, whereas in 1986 we only just managed to scrape a joint mortgage.

The problem with the UK is that private renting offers virtually no long term stability in most cases. You sign a 12 month agreement with the option to renew for a further 6 or 12 months. You can never be sure that the landlord will agree to you renewing at the end of the year even if you have been a good tenant. I did rent before buying for 2 years, and in 2 places in those 2 years. We had to rent as a group because even then rents were pretty high. Both rental places were in the "immigrant part of town", so were a bit cheaper, but I don't recall this ever being a problem as it seems to be now with all the "hate wars" between members of different communities. It was also nice to find the local shop still open when I got back from work as in the 1980's most shops still shut at 5:30pm, 6pm if you were lucky.

If you can get a "council house", now in short supply and high demand, then renting DOES offer longer term stability and you can make it your home for a number of years, even decades. Many people stay in the same council house for life, although the government is now trying to free up bigger houses by using the big stick of "bedroom tax" to make people downsize once their kids have left home, which often means many middle aged people get forced out of the homes they raised their families in.

 

[goatwack]

Having my own home sure would be swell. My landlord is selling the house and I have to be out in the next 4 days and havent managed to find a new one.

Ya, life's sucking hard right now.

Dude, what's happening with your situation? Found anywhere yet?

 

[dionysus]

Dude, what's happening with your situation? Found anywhere yet?

Sadly no - pretty chitty day here lol, as I'm packing; even had to sell a few things that I can't store.

 

[goatwack]

Sadly no - pretty chitty day here lol, as I'm packing; even had to sell a few things that I can't store.

Sorry to hear that......been a pretty rough month for you by the looks of it, starting with the phone

You got some mates you can crash at? family?

 

[dionysus]

Oh ya, won't be on the street or anything. Just a totally unideal sitation as I'm looking.
Paying storage fees and peeps to help move stuff aint helping lol

 

[goatwack]

Best of luck to you Dionysus, you're going through a bad patch but I'm sure it'll sort itself out in time