The only time I’ve ever rented was while in college. As soon as I graduated & had a job, I bought a house because I prefer stability, independence, and control. Especially since Covid, I have seen far too many people struggling with the rental market…not knowing where they’ll be living next month, not able to afford rising rental rates, and/or unable to keep beloved pets. Given US fixed mortgages provide a set payment for the entire life of the loan (I had enough down payment to avoid PMI & also wasn’t required to escrow taxes), I only ever considered buying rather than continuing to pay rent & be susceptible to a landlord’s rules, rate increases, or a landlord that sells the property unexpectedly. Renting seems so scary as an adult!! But I disgress…another informational & enjoyable video! Thanks!
Hi Lia.. Have you or will you ever looked at property here like Florida or New York or here in California just to compare apartment or houses in size style or prices that interest you. Love both your channels. Happy Holidays to you and all your friends and family.
I was wondering if defaulted loans are auctioned off in your part of the world, as they are in California. This allows the successful bidder to get title to the property (house, building, or land).
I can answer this. Yes. Properties matching that description can be sold through estate agents or by auction, although properties sold through auction tend to have issues such as them being badly damaged. I think it's fair to say that properties sold through auction tend to fetch a lower than market price.
You both look lovely. Great Q&A. Same thing happening here in the US, slower market, higher interest rates etc. Here in Florida and maybe other states there is a shortage of affordable housing rents are still very high. ~Cara 😊
Owning your home can be am amazing business opportunity because after 2-3 years because they are capital gains is exempt. If you are willing to rough it and live in a 'fixer' then it is possible to do very very well by flipping and buying another fixer. You wont be drinking out of a tea pot or wearing Oxford blue RR shirts though 😂. I grew up in the lake district to a family of property developers and chartered surveyors, so I had a good start in learning hands on building skills.
I totally agree .. the biggest tax relief available. In America it’s different however. The reason a lot of the houses haven’t sold in the uk is because the agents have overvalued them and the owners are reluctant to reduce them.
Hi real house prices are down about 15%. Please could you show us your worked figures taking into account when you have to refinance at the new interest rates. There is a misbelief that interest rates will come back down but this is very unlikely as the BOE and any government will fear inflation for the next decade at least. At the moment the best yield I can get on a BTL after tax and costs is about 4.5%. 😢
We will do a video on the numbers for the care home soon. These have the latest interest rates but it’s a completely different model to a small BTL. I helped a mentee find a BTL recently that was double digits with ROI. They are out there it’s just not as common to find them at the moment. Thanks AK
The UK market is so different from the US. Since you now own properties you will be building up capital so your renting makes sense for the short term future.
Short answer. Yes and no. Higher value assets will not crash, but personally I got an offer accepted on a flat that was valued for £200K in 2008 for £126K. There are motivated sellers out there.
Hey Priperty Couple , really nice video! I was wondering if I could help you enhance Editing in your videos and also make a highly engaging Thumbnail which will help your video to reach to a wider audience ?
Thanks guys, very helpful!
The only time I’ve ever rented was while in college. As soon as I graduated & had a job, I bought a house because I prefer stability, independence, and control. Especially since Covid, I have seen far too many people struggling with the rental market…not knowing where they’ll be living next month, not able to afford rising rental rates, and/or unable to keep beloved pets. Given US fixed mortgages provide a set payment for the entire life of the loan (I had enough down payment to avoid PMI & also wasn’t required to escrow taxes), I only ever considered buying rather than continuing to pay rent & be susceptible to a landlord’s rules, rate increases, or a landlord that sells the property unexpectedly. Renting seems so scary as an adult!!
But I disgress…another informational & enjoyable video! Thanks!
Yes, I really enjoyed this Q&A, more please 😊 once every 3 mos makes sense. Great job, love your channel 🙋🏼♀️
Thank you! Will do!
Very interesting, as always!
Good to see you both on the screen. Enjoyed your chat as usual. 😄
Great video, love the teapot and cups. Personally I dont think its worth owning your own house until you have kids.
Maybe that will come around soon? 🤷♂️
Hi Lia.. Have you or will you ever looked at property here like Florida or New York or here in California just to compare apartment or houses in size style or prices that interest you. Love both your channels. Happy Holidays to you and all your friends and family.
I was wondering if defaulted loans are auctioned off in your part of the world, as they are in California. This allows the successful bidder to get title to the property (house, building, or land).
I can answer this. Yes.
Properties matching that description can be sold through estate agents or by auction, although properties sold through auction tend to have issues such as them being badly damaged. I think it's fair to say that properties sold through auction tend to fetch a lower than market price.
You both look lovely. Great Q&A. Same thing happening here in the US, slower market, higher interest rates etc. Here in Florida and maybe other states there is a shortage of affordable housing rents are still very high. ~Cara 😊
Thanks for watching Cara!
Excellent video. Well done! I'm subscribed
Awesome, thank you!
Hi for BTL you are renting Furnish or unfurnished property?
Usually unfurnished. HMO we rent furnished.
When not owning your home, is it more difficult and expensive to get a BTL mortgage?
Few more hoops to jump through but it's very much possible.
Owning your home can be am amazing business opportunity because after 2-3 years because they are capital gains is exempt. If you are willing to rough it and live in a 'fixer' then it is possible to do very very well by flipping and buying another fixer. You wont be drinking out of a tea pot or wearing Oxford blue RR shirts though 😂. I grew up in the lake district to a family of property developers and chartered surveyors, so I had a good start in learning hands on building skills.
I totally agree .. the biggest tax relief available. In America it’s different however. The reason a lot of the houses haven’t sold in the uk is because the agents have overvalued them and the owners are reluctant to reduce them.
Hi real house prices are down about 15%. Please could you show us your worked figures taking into account when you have to refinance at the new interest rates. There is a misbelief that interest rates will come back down but this is very unlikely as the BOE and any government will fear inflation for the next decade at least. At the moment the best yield I can get on a BTL after tax and costs is about 4.5%. 😢
We will do a video on the numbers for the care home soon. These have the latest interest rates but it’s a completely different model to a small BTL. I helped a mentee find a BTL recently that was double digits with ROI. They are out there it’s just not as common to find them at the moment. Thanks AK
The UK market is so different from the US. Since you now own properties you will be building up capital so your renting makes sense for the short term future.
Short answer. Yes and no. Higher value assets will not crash, but personally I got an offer accepted on a flat that was valued for £200K in 2008 for £126K. There are motivated sellers out there.
Wow that’s some equity you have in that!
Hey Priperty Couple , really nice video! I was wondering if I could help you enhance Editing in your videos and also make a highly engaging Thumbnail which will help your video to reach to a wider audience ?
The crash has barely begun.
Can I borrow your crystal ball this weekend please...😂😂😂😂😂
😂😂😂😂