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Getting on the property ladder watch

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    I would be more than willing to buy a run down property, I am quite handy with DIY as longas it dosn't involve heights! My grandparents live in a an ex council house, its a 3 bed terrace inthe same area as me, its got gardens and its worth about £120k, some where like that wouldn't be to bad, they don't often get trouble with yobs.

    A lot of the cheaper flats near me tend to be retirement flats as well.
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    (Original post by lou p lou)
    how on earth did you cope without a kitchen :confused:

    lou xxx
    We didn't move in for 3/4 months (got the keys on Sept 6th 2001 and moved in in mid Jan 2002)....there were walls to knock down and doorways to widen before it was live-able.

    Luckily hubby's parents let us stay with them rent free (prior to that we were paying rent) for the time until we moved in.

    Even when we moved in we were sleeping on mattresses on the floor because there was a chimney breast that needed removing from the bedroom.

    Picture shows the kitchen/dining room after we'd been in for a day - the doorway is now a window and the gaping hole that used to be a window is now a set of french doors
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    (Original post by Daveo)
    AT In my opinion I think you are slightly overestimating the current market in manchester, I don't know a great deal about the areas your looking for but methinks it's not quite as bad as you make out, and you right by 2008 anything could have happened.
    It depends on the areas though. I would like a nice 1 bed new flat it dosn't have to luxery for about £100k in Chorlton, Didsbury, Whalley Range. I am hoping they are a little bit cheaper in Moss Side, knowing the area well I know all the myths about that area aren't true and its a safe place to live. Its just means you have to realy on town for the nightlife.
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    (Original post by PQ)
    We didn't move in for 3/4 months (got the keys on Sept 6th 2001 and moved in in mid Jan 2002)....there were walls to knock down and doorways to widen before it was live-able.

    Luckily hubby's parents let us stay with them rent free (prior to that we were paying rent) for the time until we moved in.

    Even when we moved in we were sleeping on mattresses on the floor because there was a chimney breast that needed removing from the bedroom.
    hmmm... sounds lovely ah well i guess you're sorted now with your solar roof and what-not :p:

    lou xxx
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    (Original post by amazingtrade)
    I would be more than willing to buy a run down property, I am quite handy with DIY as longas it dosn't involve heights! My grandparents live in a an ex council house, its a 3 bed terrace inthe same area as me, its got gardens and its worth about £120k, some where like that wouldn't be to bad, they don't often get trouble with yobs.

    A lot of the cheaper flats near me tend to be retirement flats as well.

    I would go for something like that. Something accessible to areas you need to get to but in a not so nice area. Do it up, inside and out and that will help with the resale value. Buying something far too expensive in the centre of town will use all your money, and the price may not increase over time. I asked my mum this and she is a property specialist! If you were planning on renting out to people I would say get a city centre flat, if not, go for something outer city for less!

    I know how you feel though, houses round here are in a horrible area, all look like ex council and go for about £170k!!
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    (Original post by amazingtrade)
    It depends on the areas though. I would like a nice 1 bed new flat it dosn't have to luxery for about £100k in Chorlton, Didsbury, Whalley Range. I am hoping they are a little bit cheaper in Moss Side, knowing the area well I know all the myths about that area aren't true and its a safe place to live. Its just means you have to realy on town for the nightlife.
    Yeah it does depend on the areas, From having a quick look on rightmove.co.uk I would say you could hope to pick up a farily tidy and nice 1 bed flat in one of those ares for something in the region of your £100K, A little over £120K would buy a 1 bed flat in central manchseter. Admittedly it'd be no penthouse but might suit you if you could stretch that far :p:
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    Yeah I would never buy in the city centre, £200k plus for a piece of space surounding by wiring done by labourers and walls made out of plasterboard can't be good. Its overated anyway, too noisy, too much pullution, if you live in an area with a good bus route its never any hassle getting home at night anyway.
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    (Original post by Daveo)
    Yeah it does depend on the areas, From having a quick look on rightmove.co.uk I would say you could hope to pick up a farily tidy and nice 1 bed flat in one of those ares for something in the region of your £100K, A little over £120K would buy a 1 bed flat in central manchseter. Admittedly it'd be no penthouse but might suit you if you could stretch that far :p:
    And of course asking price does not necessarily equal selling price.

    They were asking £125k for our house - we paid £96.5k
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    (Original post by PQ)
    And of course asking price does not necessarily equal selling price.

    They were asking £125k for our house - we paid £96.5k
    Somone I know has just bought a flat (not too sure why- as they have a house). Asking was £115 paid:£105
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    (Original post by PQ)
    And of course asking price does not necessarily equal selling price.

    They were asking £125k for our house - we paid £96.5k
    that gives me a lot of hope! Im supposed to be buying with my fiance before Easter and its a nightmare!!
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    The only good sign for me is a year ago houses near me were going above the asking prices, now I know three terrace houses on the market for £180k none of them have yet sold and they have been on the market for ages. That must be an indicator of a possible crash or at least prices remaining static.
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    (Original post by amazingtrade)
    The question is though do you live in a rough area or (or less deserable one) at the momnent I am living in a trendy part of the city. Do you rent in a better area or get a mortage in a rougher area?

    Its not going to be aproblem for at least another year or so anyway, hopefully houses will have crashed by then.
    Given the regeneration schemes in place around Manchester I think you would be better off buying in a less desirable area. Not only will the price be lower (and hence you will be less susceptible to the inevitable interest rate hikes), but it will also be something of an investment as those areas can only improve over the coming years.
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    My parents had their house valued recently and was told by the estate agent that house prices had dropped 20% in the last six months. This is for Cornwall mine you. However, prices will fall as interest rates continue to rise.
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    (Original post by NikNak)
    Given the regeneration schemes in place around Manchester I think you would be better off buying in a less desirable area. Not only will the price be lower (and hence you will be less susceptible to the inevitable interest rate hikes), but it will also be something of an investment as those areas can only improve over the coming years.
    Interest rate hikes aren't innevitable, Interest rates aren't going to change for the next few months and will likely fall again by about 0.75% in the next year.
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    There are several in your vague price range on the online sites in those areas you mentioned AT. PQ is that your hubby in the picture?
    I would love to have a bungalow there is a gorgeous one up my road and I've always coveted it. Its so nice inside.
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    (Original post by viviki)
    PQ is that your hubby in the picture?
    I would love to have a bungalow there is a gorgeous one up my road and I've always coveted it. Its so nice inside.
    That's him

    The lazy person in me would never go back - I used to spend a good 10 minutes every morning running up and down the bloody stairs to fetch things that we'd forgotten....it's so nice to just wonder around the house without having to trudge up and down steps all day long...they're expensive though
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    A lot of people are buying them these days and converting them into two story properties because of all the roof space. I think its nice to be on one floor and be able to look out on the garden in the morning.

    If I ever make decent money and that bungalow comes up for sale I'm buying it.
 
 
 
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