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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To ask about your climb up the property ladder?

33 replies

Ohpleasenotnow · 01/10/2019 18:13

I'll go first (although not much to tell really)

House 1 - bought in 2008 for 90k with 10k deposit

House 2 - bought in 2012 for 142k with 30k deposit

House 3 - hoping to buy in 2020 for 300k with 100k deposit

OP posts:
Andromeida59 · 01/10/2019 22:24

Flat - 2007 - 87k with 10k down now worth 180k.
House - 2017 - 225k with 42k down now worth 285k plus.
However, we turned the small mortgage on the flat in to a BTL in 2017. In 2018, we remortgaged the flat to buy the shop below. The unit as a whole is worth close to 300k with a mortgage of only 120k.

jimmyhill · 01/10/2019 22:34

Hmm, OP. First mortgage 80k, next mortgage 112k, third mortgage 200k?

Sounds more like a climb up the debt ladder than the property ladder, but OK.

CactusAndCacti · 01/10/2019 22:59

Well our first house was pretty much near the top of a lot of people's ladder - 3 bed detached. But NE, less popular area, pre-boom - 2002 80k.

We were very fortunate to be able to buy when we did.

Gertie75 · 01/10/2019 23:33

First house in 1996 for 38k, sold for 98k
Second house in 2006 for £113k sold for 160k.
Current house in 2014 for 240k recently valued at 450k but no plans to move until we downsize at retirement in 20 years.

tangled2 · 01/10/2019 23:33

Bought 3 bed ex council semi for £125k in 2015, with a 20k deposit. Sold it in 2017 for £141k.

In 2018, bought a 4/5 bed for £400k, with an approx £70k deposit. We probably won't move again, at least not for many many years.

SamBeckett · 01/10/2019 23:35

I cant even find the ladder let alone get on it Sad

user1461609321 · 01/10/2019 23:38

Watching

PichmondRark · 01/10/2019 23:43

Property 1: bought for me in trust as I was a minor but my father had died. 1987 £30k, sold 2002 for £110k.

Property 2: bought for £220k in 2002 and sold for £225k in 2004

Property 3: bought with DH by combining assets in 2004 for £540k. Sold 2010 for £850k.

Property 4: bought with recess of property 3 plus inheritance from my mother for £1.4million in 2010. Now under offer for £2.4 million.

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