Silkroad Online Forums

Posted: **Wed Jul 27, 2011 5:44 pm**

I can't wait

Posted: **Wed Jul 27, 2011 5:48 pm**

ok .

Not sure what to say but what is the point of this thread ?

Posted: **Wed Jul 27, 2011 6:13 pm**

No point of this thread, but just wanted to share

Posted: **Wed Jul 27, 2011 6:29 pm**

So how did the house look like?

Posted: **Wed Jul 27, 2011 6:35 pm**

was only posted 45 minutes ago :<

Posted: **Wed Jul 27, 2011 6:37 pm**

Well, good luck and keep us informed.. lulz

Posted: **Wed Jul 27, 2011 6:46 pm**

Going to see it tomorrow morning, will let you all know.

Posted: **Wed Jul 27, 2011 6:46 pm**

vietxboy911 wrote:was only posted 45 minutes ago :<

Posted: **Wed Jul 27, 2011 6:57 pm**

Good luck! Remember to check out the structure, basement, walls, how well insulated it is, what kind of repair it would need.

Er, that is, if you're looking at BUYING and not renting.

Dunno about the UK but find out if the real estate agent who represents you is also representing the buyer - aka dual agency. It's not a good situation to be in.

Posted: **Wed Jul 27, 2011 7:03 pm**

_Equal_ wrote:Good luck! Remember to check out the structure, basement, walls, how well insulated it is, what kind of repair it would need.

Er, that is, if you're looking at BUYING and not renting.

Dunno about the UK but find out if the real estate agent who represents you is also representing the buyer - aka dual agency. It's not a good situation to be in.

It is only renting, as getting on the "property ladder" in the UK is very hard for first time buyers.

Posted: **Wed Jul 27, 2011 7:20 pm**

The Invisible wrote:ok .

Not sure what to say but what is the point of this thread ?

not sure what to say but uh.. what was the point of this post? this thread already beats at least half of the ones on the first page. it's personal, semi interesting, and gives you something to discuss or relate to on that level.

it's not just a meme, something i'd see on the front page of msn or yahoo, or a /gasp, youtube video.

good luck op.

Posted: **Wed Jul 27, 2011 7:23 pm**

My parents are looking to move again too ._. bout 3rd time in 2 years woohoo... oh well I'm not living at home full time anymore so what evs. Goodluck on the viewing girl, hope it fits ya =]

Posted: **Wed Jul 27, 2011 8:02 pm**

What does this mean for the bunny shed?

Posted: **Wed Jul 27, 2011 8:06 pm**

Tasdik wrote:What does this mean for the bunny shed?

Just going for a house with a secure garden, with a shed

But this house has a garage.
The house we're looking for has 3 bedrooms, dining room, largish kitchen...

Posted: **Wed Jul 27, 2011 8:22 pm**

_Equal_ wrote:Good luck! Remember to check out the structure, basement, walls, how well insulated it is, what kind of repair it would need.

Er, that is, if you're looking at BUYING and not renting.

Dunno about the UK but find out if the real estate agent who represents you is also representing the buyer - aka dual agency. It's not a good situation to be in.

It can be a great situation. I just bought a place last month and I didn't even bother with an agent. I went directly to theirs and I told her that i'm not bringing representation because I expect her to represent my best interests. I told her that I realized that her comission would therefore not be shared, but that I expected she would take a cut so I could get a better price.

The night I went to see the place they had 2 offers and 2 more showings after me. She ended up taking a 1-2% cut on her comission and giving it to the sellers, the gap between what I could offer and what they could accept. In the end I paid less, the sellers got more money, and she got more then half the comission. Because she was my representation, she really forced the issue and made sure no other offers would come to light. I saw the place at 6pm, by 8pm the papers were filled, 9:30pm we shook hands and it was a done deal.

Side note: I'm going to post my thread once I move in (August 26)

On the question of affordability (directed at OP): From the calculations I made, and personal experience, if you can rent you can afford to buy. The only problem comes with saving for a down payment and building a good credit score. But those should be things you're working on regardless of if you're saving for a house. And make sure you're well qualified. I waited until my credit score was about as high as it could go with my salary. (Credit score is partially based on how much credit you have, which depends on how much you make, and your ability to pay it and keep your balances low.) The good credit score isn't to secure a loan, it's to secure an affordable loan.

Posted: **Wed Jul 27, 2011 8:43 pm**

Isn't buying instead of renting the best thing you can do in this economy? House prices are the lowest they've been in years here in the Netherlands, I can't imagine it's higher anywhere else. Loans are also a lot cheaper atm, and in the Netherlands we even cut a big part of the taxes we have to pay when we buy a house to stimulate buying houses.
Like Dom said: if you can rent you can buy. Of course having a pretty solid job will help, but from my absolute luxury position as a 19 year old student who doesn't really know shit I'd say go for buying instead of renting.

Posted: **Wed Jul 27, 2011 8:51 pm**

woutR wrote:Isn't buying instead of renting the best thing you can do in this economy? House prices are the lowest they've been in years here in the Netherlands, I can't imagine it's higher anywhere else. Loans are also a lot cheaper atm, and in the Netherlands we even cut a big part of the taxes we have to pay when we buy a house to stimulate buying houses.
Like Dom said: if you can rent you can buy. Of course having a pretty solid job will help, but from my absolute luxury position as a 19 year old student who doesn't really know shit I'd say go for buying instead of renting.

When I ran the numbers with my broker, $10,000 extra to my budget was only like $50 more a month. For that reason, I don't think lower prices (save maybe 40,000 at max?) are a huge savings - i'd worry more about the interest rate. A 1% rise on your monthly mortgage payment will **** you in the ass.

The thing you have to remember too is that when you buy a house, you're not paying just the listing price. You end up paying, in some cases, double the price. I focused on "Can I afford paying the mortgage each month?" rather then how much money would I be saving, or if it's worth it in the long run. Turns out my mortgage + insurance + municipal taxes are only about 10% more then rent. And, if I were to rent the property, I would net about 40% a month.

Posted: **Wed Jul 27, 2011 8:56 pm**

For a 3 bedroom house, in the area that me and my boyfriend are looking for will be around £250,000. The banks will never give us that kind of money, if we went for a mortgage, we'll probably end up getting £100,000. Which won't get us a lot, that's even if the banks would even give us a mortgage, because of our credit rating. The house prices in this country are lower then what they were, but not low enough to get us what we want.

Posted: **Wed Jul 27, 2011 9:01 pm**

Isis wrote:For a 3 bedroom house, in the area that me and my boyfriend are looking for will around £250,000. The banks will never give us that kind of money, if we went for a mortgage, we'll probably end up getting £100,000. Which won't get us a lot, that's even if the banks would even give us a mortgage, because of our credit rating. The house prices in this country are lower then what they are, but not low enough to get what we want.

What I would do in that case is buy something cheap, live in it until you can buy the real house you want. I'm single so my income compared to normal borrowers is effectively halved. When you rent out a property it counts as income. In 5 or 10 years when I rent it, they will consider my salary + the rent which will make for a higher limit. The thing too is that once I sell it, even if I sell it for the price I paid, the cash I get back for all the money I put towards it can go directly into the downpayment of the next house. It's easier to pay your mortgage each month and selling it when you're ready, than paying rent while trying to save the £50,000 downpayment you would need for a £250,000 home. And if I had credit rating problems, rather than paying ridiculous renting prices for a £250,000 property, I would suck it up and live in a small apartment and pay off my debt and build my credit. It's something you will need to do eventually, and it gets harder when you're 40 and paying someone else's mortgage on a £250,000 home. If you can't afford to buy something, it's irresponsible to rent it - you would be paying nearly, if not more, the same price it would cost to buy it.

Posted: **Wed Jul 27, 2011 9:10 pm**

dom wrote:
Isis wrote:For a 3 bedroom house, in the area that me and my boyfriend are looking for will around £250,000. The banks will never give us that kind of money, if we went for a mortgage, we'll probably end up getting £100,000. Which won't get us a lot, that's even if the banks would even give us a mortgage, because of our credit rating. The house prices in this country are lower then what they are, but not low enough to get what we want.

What I would do in that case is buy something cheap, live in it until you can buy the real house you want. I'm single so my income compared to normal borrowers is effectively halved. When you rent out a property it counts as income. In 5 or 10 years when I rent it, they will consider my salary + the rent which will make for a higher limit. The thing too is that once I sell it, even if I sell it for the price I paid, the cash I get back for all the money I put towards it can go directly into the downpayment of the next house. It's easier to pay your mortgage each month and selling it when you're ready, than paying rent while trying to save the £50,000 downpayment you would need for a £250,000 home. And if I had credit rating problems, rather than paying ridiculous renting prices for a £250,000 property, I would suck it up and live in a small apartment and pay off my debt and build my credit. It's something you will need to do eventually, and it gets harder when you're 40 and paying someone else's mortgage on a £250,000 home. If you can't afford to buy something, it's irresponsible to rent it - you would be paying nearly, if not more, the same price it would cost to buy it.

I understand what you are saying, but we need the space, we both have a lot of stuff to make room for. I also have two rabbits that need a lot of space. At the moment they are living in a 8"x6" shed with a run that is 6"x6". So we need the garden as well. We'd rather rent somewhere then find somewhere that is small. My boyfriend is already living in a one bed flat (apartment) that he is renting. And that isn't big enough for the both of us.

Posted: **Wed Jul 27, 2011 9:22 pm**

How old are your rabbits?

Posted: **Wed Jul 27, 2011 9:24 pm**

Mirosuke wrote:How old are your rabbits?

1 and 3...

Posted: **Wed Jul 27, 2011 11:06 pm**

Isis wrote:
Mirosuke wrote:How old are your rabbits?

1 and 3...

Man do I love non sequiturs ;P
Especially after those blocks of econ texts

Posted: **Thu Jul 28, 2011 1:32 am**

pics or gtfo?

:giveup:

Posted: **Thu Jul 28, 2011 5:32 am**

Satisfied now Unbeatable?

Posted: **Thu Jul 28, 2011 9:15 am**

Isis wrote:Going to see it tomorrow morning, will let you all know.

WAS THE HOUSE GOOD.

Posted: **Thu Jul 28, 2011 10:46 pm**

Isis wrote:
Mirosuke wrote:How old are your rabbits?

1 and 3...

om nom nom

They bite hard, ya? lol

Posted: **Thu Jul 28, 2011 11:22 pm**

wats a shed?

Posted: **Fri Jul 29, 2011 8:08 am**

SM-Count wrote:wats a shed?

really?

A shed is a....well a shed...see look

Posted: **Fri Jul 29, 2011 8:20 am**

Mirosuke wrote:
Isis wrote:
Mirosuke wrote:How old are your rabbits?

1 and 3...

om nom nom
They bite hard, ya? lol

No. Just, no.

SM-Count wrote:wats a shed?

*pats head*

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