:-(

Tough it out.

 

<fx: double-take-head-shake>

hang on, you're *buying* a house? I thought you were a life-long
advocate of renting.
And anyway, aren't you too old to get a mortgage?

 

I keep thinking the same thing.

must be an age thing.

or it could be the 'when I retire I wont have the money to pay the
rent whereas a mortgage will possible be paid off' thing.
--
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I've never really bought that argument, but lets not have it again.

heh. I'm actually contemplating buying another property at the moment
(dependant on the final compensation package for my new position, which
I'll know in a couple of months), either a buy-to-let in a low(!) cost,
but up-and-coming[1] area of London, or a property in Spain.

well, I was being slightly facetious, but even with a 20 year mortgage,
you are going pretty close to the wire, aren't you? My current mortgage
will be finished before I'm 60, which is something I'm pretty happy
about.

[1] due to the nature of her job, Angie has an eye for this sort of
thing.

 

for me, that's exactly it. My long-term game plan is to retire at 60,
by which time my mortgage will be paid off, downsize/locate the house,
and live off the difference in prices between the house I sell and the
house I buy[1].

[1] even now, the difference in price between my house and - say - a
two bedroom semi somewhere on the south coast is comfortably into 6
figures.

 

I'm vaguely thinking of having a punt on a little apartment in Dubai.
Only costs the same as ten new Ducatis.

 

that's a fairly wide price spread, of course...

 

The 'correction' in the market is already happening here in
Cheltenham, so I would expect London to have falling prices by now.
Doesn't mean you can't make a smart buy, tho, and there'll always be a
decent rental market in London.

Well, I certainly didn't plan to be in this situation. The mortgage I
took out with my wife would have paid off when I was just 60.

 

Oh, I was thinking of the cheap ones, like the one I'm getting.

 

Are there any left, or are we down to Silvertown?

 

Hackney will get better when it gets transport (soon, isn't it?)

 

I wouldn't be looking to buy until next spring; I'll just have to see
how the market goes.

 

Edmonton Green/Ponders End borders.

 

I'm aiming for 53, then 2 years saving, drink myself to death in time for
58.

 

I'm working on 40.

Living in the midlands rocks.

 

Ginge says...

At the moment i'm aiming for 50.

It will.

 

Actually I doubt I'd need a bigger (more expensive) house, a 3 bed
detatched place is a decent size for 1 or 2 people, I've got a garage,
decent sized garden..

The only way I can see me taking out a higher mortgage is if I leave the
area, but I quite like it here..

 

Bollocks - there are two of us, and the 4-bedroom detached house with
double garage is barely big enough.

 

This is the biggest house I've ever lived in, with the fewest number of
people (me). Maybe I'm just used to living in smaller spaces.

 

You need a double garage, though, don't you. I have plans to extend
my already-double garage.