[Broncho]

I couldn't afford the stamp duty if I wanted to buy my house now

[ioannisG]

Originally Posted by TouringPleb

Definitely agree with this. Last week I got called to a sudden death of a 53 yr old male. Had good health all his life, wasn't over weight, never missed a days work, stopped smoking a couple of years ago. And then, just like that, for no apparent reason had a massive heart attack and died.

Got to enjoy life because as the cliche says you never know what's around the corner.

Sure yes but if you take that to the extreme you'd be blowing all your cash every month on stuff/ holidays etc, in effect living pay check to pay check. And if you did end up living till old age you'd wish you hadn't Enjoying life doesn't need to be expensive - my best moments are when I'm at home with my wife having a nice dinner For me the best use of money is buying time and experiences not things. I happily spend on a cleaner, hello fresh meals so I don't have to go shopping, restaurants, holidays and a nice home to sleep in.

Ultimately even if you pass away early wouldn't you want to secure the future of your family?

[isleaiw1]

Agree with everyone about the balance - also remembering that cash in a house is effectively part savings as you can cash in, downsize and get back some of the money you put in - not so easy with a car....

I do think though that if cars are your thing you should allow for a reasonable one as you will really resent the house if it deprives you of your interest.

Ah stamp duty, loved giving almost £50k to the govt last month. The joys of not selling previous house but helping out with the rental stock. Will have to sell in next 3 years to get £20k plus of the stamp duty back....

[FSE23]

Originally Posted by Rbrown

For me, it's getting the right balance of both.

Life is not a dress rehearsal and you never know what is round the corner. I worked with somebody who scrimped and saved every penny for when she was going to retire early.

I attended her funeral 2 months after she was diagnosed with cancer. Her day of enjoying her money, sadly, never came.

Live within your means, but enjoy it as much as you can.

Unfortunately, it is quite a truth. My brother just passed away over a month ago, just one month after he went unwell. Finally successful businessman who worked hard for most of his life with not much enjoyment. Having finally a lot of money , beautiful wife at his side, he started to enjoy his life, started enjoying trips around the world but unfortunately he had just started...when an awful disease terminated his life so unexpectedly. I'd say enjoy your life as much as you can, you never know what is around the corner. You would know better what to do.

[TouringPleb]

Originally Posted by ioannisG

Sure yes but if you take that to the extreme you'd be blowing all your cash every month on stuff/ holidays etc, in effect living pay check to pay check. And if you did end up living till old age you'd wish you hadn't Enjoying life doesn't need to be expensive - my best moments are when I'm at home with my wife having a nice dinner For me the best use of money is buying time and experiences not things. I happily spend on a cleaner, hello fresh meals so I don't have to go shopping, restaurants, holidays and a nice home to sleep in.

Ultimately even if you pass away early wouldn't you want to secure the future of your family?

I think you misunderstood me. I'm not advocating spend, spend, and spend and sod the consequences. I was agreeing with the post I quoted that it's about getting that balance right for you, because you never know what's around the corner.

[gangzoom]

Here's some actual numbers on your annual chance of death.

Most on here I suspect are in the 1/100 - 1/1000 group, so look at it this way. If some one said pay me £20k this year and your have a 0.1-1% chance of winning £10 million would you do it??

[JustChris]

What car would be in the radar foggy to come in the new economic model?

M140i you could nod over time and take the £1k down £350 a month on? Buy something outright to have no car finance? Anything we can help advise on

[djcowlin]

I started buying BMWs when I paid off the mortgage on my current house (which I managed to do about 6 years early). Seemed like a suitable reward.

[ajfoggy]

Originally Posted by JustChris

What car would be in the radar foggy to come in the new economic model?

M140i you could nod over time and take the £1k down £350 a month on? Buy something outright to have no car finance? Anything we can help advise on

Nothing in mind really at moment until this is definitely happening. But probably buying something cheap out right and have I monthly for a while, will still have the wife?s pcp on the go as well though.

Quiet fancy something completely different and might look for a decent older plate CR-Z.

[ajfoggy]

Nobody is moving house FFS!! Hardly any houses for sale this may prove difficult!

[JustChris]

Originally Posted by ajfoggy

Nobody is moving house FFS!! Hardly any houses for sale this may prove difficult!

Agree, the market here is pretty flat I'd say too. Far too many new builds are stupid money I think.

[ajfoggy]

Originally Posted by JustChris

Agree, the market here is pretty flat I'd say too. Far too many new builds are stupid money I think.

That is true! We found one we like but we know who the neighbours are so it's made the house a no go. Shame because we really like the house.

[Broncho]

Originally Posted by JustChris

Agree, the market here is pretty flat I'd say too. Far too many new builds are stupid money I think.

You mean stupid money cheap or stupid money expensive, I assume you mean the latter?

[ajfoggy]

Originally Posted by Broncho

You mean stupid money cheap or stupid money expensive, I assume you mean the latter?

Well if it's the same as around here, he means the latter for sure.

[blackrabbit]

We often talk about moving, but we bought a repo at the bottom of the market. The house is plenty big enough and our £450 mortgage is a dream. No worries about finding the money and a healthy disposable income kind of cancels out the niggles.

Its about balance, and a new house would be nice, but its nice to have a happy medium when we can spend on other things, like cars and holidays.

[isleaiw1]

Originally Posted by ajfoggy

Well if it's the same as around here, he means the latter for sure.

Having just bought it's definitely the latter!

[isleaiw1]

Originally Posted by blackrabbit

We often talk about moving, but we bought a repo at the bottom of the market. The house is plenty big enough and our £450 mortgage is a dream. No worries about finding the money and a healthy disposable income kind of cancels out the niggles.
.

If I was like one or two on here I would turn out a load of expletives at that... but as I don't drive at 100mph on line I will stick with
Mine is somewhat higher....

[Broncho]

Originally Posted by isleaiw1

Having just bought it's definitely the latter!

Same here although right now there isn't much land available for new build so it usually means knocking down a huge existing old house with land and squeezing 6 detached at 3 compromised storeys to get the square footage to charge £350k as a start.

Fucking madness, but people are buying them, there's got to be some negative equity coming their way.

[Broncho]

Originally Posted by isleaiw1

If I was like one or two on here I would turn out a load of expletives at that... but as I don't drive at 100mph on line I will stick with
Mine is somewhat higher....

Same here and I nowhere near bought at the top of the market.

[JustChris]

Originally Posted by Broncho

You mean stupid money cheap or stupid money expensive, I assume you mean the latter?

Yup silly expensive money..

[Broncho]

Thing is where do you go with a silly expensive new build?

I know not everybody is in it to speculate but I've always seen houses as a home and an investment.

[isleaiw1]

Originally Posted by Broncho

Same here although right now there isn't much land available for new build so it usually means knocking down a huge existing old house with land and squeezing 6 detached at 3 compromised storeys to get the square footage to charge £350k as a start.

Fucking madness, but people are buying them, there's got to be some negative equity coming their way.

I have bought on a new estate - three storey as it works for us (I have the attic) but it was green belt. Trouble is it's bearish to station for access to London so popular.

I hope not to your last point - I don't think it will go up by any more than inflation over next 5 years but it wasn't bought for that - it's a home first and foremost and although there is a chunk of interest each month there is also a sizeable capital payment each month which we share - so I am effectively buying an asset.15 year mortgage term helps with that...