About 17 years sooner than expected...

I now own my house outright.

Mortgage paid off, today.

None of this negative equity stuff for me.

 

Well done. Only another £30k to go for us.

 

How come?
Premium Bonds, Lottery?
Inheritance? (Clouds and silver linings)

--
Jeweller
R100RT
Formerly: James Captain, A10, C15, B25, Dnepr M16 solo,
R80/7, R100RT (green!)
www.davidhowardjeweller.co.uk

 

Voluntary redundancy IIRC.

Debt, horrible thing <spits> worries the **** out of you.

 

It's property up north. He probably found ten pence down the back of
the sofa.

 

Like you want to be laughing.

 

Feels good, doesn't it?

We did it about 18 months back.

Congratulations.

 

So tell me folks what feels good about having paid and paid for years to buy
a house costing X when all it's worth now or for the next decade or two is
0.75*X if you are lucky.

 

Depends when you bought, doesn't it?

Ours still looks like it's worth 1.2*X - and the new regional hospital
is being built 5 mins. walk down the road (bloody big place - the crane
they're using is *huge*) - which should maintain prices.

The main thing for us, though, is that we've both faced redundancy
recently, so it's one less thing to worry about.

 

Just sour grapes I imagine.

 

The fact that you're no longer in the even worse position of paying
interest on the X you borrowed in the first place.

 

Yebbut, in Leigh you can buy a whole street for the cost of a 1 bed
flat in Bedford.

Well done btw

--
Lozzo
SV650S K5, CBR600F-W, SR250 SpazzTrakka, SR250 Project SpazzCaffer
Ford Maverick 2.7 litre 4x4 Turbonutterbastard with VTOL.
and a shit load more 2-wheeled junk in the garage
I believe in free speech, but I still have to pay my phone bill

 

Well, at present, it's worth about 4.5x what I paid for it and prices
would have to drop to mid 80s levels before I'd be close to making a
loss... including the spending on improvements.

 

Excellent Mark, so you're place is now less expensive per week than mine

--
Steve Parry
BMW R80RS, BMW R45, 03 BMW R1100S Boxercup, 07 K1200GT SE
95 BMW F650, 87 Yamaha FS1, Sukida SK90PY, 91 Kawasaki AR50,
07 VW Passat SE Estate for comfort
www.gwynfryn.co.uk

 

I don't know, I bought in '99, so my house would have to lose almost
half it's value for me to lose money, so I'm happy so long as prices
stay above or around that mark.

 

Can't be that big if they're only using one crane

 

'S good, innit?
Now you can sit in quiet enjoyment of your property.

Unless you get some mad notion to re-mortgage, like so many stupid
fuckers did in the past decade.

 

Cash, matey. Pure cash and paid for ten years ago. Which, even in the
current shite climate makes it worth ~10x what I paid for it.

 

I put 50K cash into a 4 bed det house with my ex - we bought outright
at 100K in 1997. That property is now valued at around 325K.

My flat in Malta cost me **** all, it's now valued at approx 90K
sterling.

It feels pretty good from where I'm sitting.

--
Lozzo
SV650S K5, CBR600F-W, SR250 SpazzTrakka, SR250 Project SpazzCaffer
Ford Maverick 2.7 litre 4x4 Turbonutterbastard with VTOL.
and a shit load more 2-wheeled junk in the garage
I believe in free speech, but I still have to pay my phone bill

 

My mate's cousin did that in Corby, about 25 years ago. Not quite a
street, but 4 terrace houses in a row - knocked them togther and made a
fantastic gaff out of them. Cost about tuppence per house, iirc.