Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

AIBU to wonder if anyone else is as spectacularly unlucky as me in property market?

4 replies

HouseSale · 10/09/2020 21:10

Purchased first house 1989 for £26000. Unable to sell in 1998, so tried to auction it off. Sold for £11250.
Property number 2, asking price £295000, put on market just before lockdown. Accepted £16500 less than asking price when housing market reopened thinking we were lucky to sell as property market would be likely to crash due to Corona virus. Not a bit of it. Property prices have been soaring and houses selling like hot cakes since June. Needlessly gave massive discount.
Property number 3 (where we live now). On day of picking up keys to new build house, advised by developer that nursing home next door are going to build a large extension right next to our house (didn't come up in searches). Instead of looking out on a lovely garden, will be a building instead.
Just not lucky with sale and purchase of property.
Anyone else as unsuccessful as me?

OP posts:
Monts45 · 10/09/2020 21:15

How much did you buy property number 2 for? Assuming it was around £20-£30k, I personally wouldn’t say you’ve been unlucky - you’ve made £200k+.
We bought a house in 2014 (first time buyers) for £324k, we spent £90k making it liveable. Sold it in 2020 for £420k. We made nothing once stamp duty was taken into account.
I think anyone who bought a house in the 80’s or 90’s and managed to ride on the back of huge house price inflation should count themselves extremely lucky.
First time buyers now face an impossible situation and are much much worse off in comparison.

ChicCroissant · 10/09/2020 21:16

You sold a property for half the guide price recently Hmm

HouseSale · 10/09/2020 21:23

@ChicCroissant

You sold a property for half the guide price recently Hmm
Not recently. It was in 1998. It sold for the reserve price at auction.
OP posts:
HouseSale · 10/09/2020 21:25

@Monts45

How much did you buy property number 2 for? Assuming it was around £20-£30k, I personally wouldn’t say you’ve been unlucky - you’ve made £200k+. We bought a house in 2014 (first time buyers) for £324k, we spent £90k making it liveable. Sold it in 2020 for £420k. We made nothing once stamp duty was taken into account. I think anyone who bought a house in the 80’s or 90’s and managed to ride on the back of huge house price inflation should count themselves extremely lucky. First time buyers now face an impossible situation and are much much worse off in comparison.
Yes you are right. It is awful for first time buyers trying to get onto property ladder now.
OP posts:
New posts on this thread. Refresh page
Swipe left for the next trending thread