Author Topic: House buying without a mortgage, dilemma...  (Read 6686 times)

Offline Diamond Hell

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Re: House buying without a mortgage, dilemma...
« Reply #20 on: 12 September 2013, 08:09 »
Other buyer fell through then?
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Offline Egbutt Wash

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Re: House buying without a mortgage, dilemma...
« Reply #21 on: 12 September 2013, 13:51 »
Is your uni (now and next year) close to the renovation project?  If not you run the risk of 1, Failing at uni having devoted too much time to bricklaying, plastering and plumbing, 2, Splitting with girl after many tired arguments, 3, running out of cash to renovate and selling at a loss.

If your girls business is making a good profit (not just turnover) then she might be able to carry the renovation burden by hiring tradesmen to lighten your load.

If her business is really just a hobby and actually losing money then you might wish to be flexible in the job market after your postgrad stint and not tied to one place.

Just a thought.
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Offline Sam

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Re: House buying without a mortgage, dilemma...
« Reply #22 on: 13 September 2013, 12:33 »
Is your uni (now and next year) close to the renovation project?  If not you run the risk of 1, Failing at uni having devoted too much time to bricklaying, plastering and plumbing, 2, Splitting with girl after many tired arguments, 3, running out of cash to renovate and selling at a loss.

If your girls business is making a good profit (not just turnover) then she might be able to carry the renovation burden by hiring tradesmen to lighten your load.

If her business is really just a hobby and actually losing money then you might wish to be flexible in the job market after your postgrad stint and not tied to one place.

Just a thought.

Yep! Doing my final year whilst renovating a property and holding down a job one day a week is going to be a challenge. Me and my lady have been together for almost 8 years now, been through business start ups, family bust ups, 5 years of universtiy, living at other ends of the country to each other... not once have we had a break or anything daft like that.

Business is far from a hobby, she employs two seamstresses 3 days a week and takes a wage for her and her business partner. All of this is well ahead of projections so looking good.

I understand the benefits of been flexible with post grad employment but I can't think of a single employer who I would rather work for in my sector. If I sat down with you over a pint and talked though what I have done this year alone with the company I'm working for you would be gob smacked, I have to pinch myself.

Other buyer fell through then?

Yep, apparently it was too much work... could be interesting.  :grin:


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Offline Egbutt Wash

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Re: House buying without a mortgage, dilemma...
« Reply #23 on: 13 September 2013, 13:43 »
Top Tip:
Start your own business now.  Whilst working for the company during the postgrad degree always be thinking about your new business and how you can use anything learned to your advantage.  Don't just keep working for someone else. 
I was in the same situation, completing my PhD and then three years postdoc.  Then straight into my own company, based on the postdoc subject.  It's given me a good life.

Don't waste all that youthful energy working for others or restoring a ruin.
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Offline Sam

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Re: House buying without a mortgage, dilemma...
« Reply #24 on: 13 September 2013, 14:29 »
Top Tip:
Start your own business now.  Whilst working for the company during the postgrad degree always be thinking about your new business and how you can use anything learned to your advantage.  Don't just keep working for someone else. 
I was in the same situation, completing my PhD and then three years postdoc.  Then straight into my own company, based on the postdoc subject.  It's given me a good life.

Don't waste all that youthful energy working for others or restoring a ruin.

It would be an advantage to my current company to be self employed to be honest and taken on as a consultant... may have to have a chat with him about that. My books look good, his books look good... hmmm  :smiley:


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Offline Sam

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Re: House buying without a mortgage, dilemma...
« Reply #25 on: 04 August 2014, 13:53 »
I know I normally shoot people down for linking the Daily Mail but, in relation to this thread

http://www.dailymail.co.uk/news/article-2690545/How-buying-house-stressful-bankruptcy-divorce-death-loved-one-according-poll.html

Jesus f**king christ, I feel I could have a breakdown any second  :cry: :sad: :sick:


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Offline Rhyso

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Re: House buying without a mortgage, dilemma...
« Reply #26 on: 04 August 2014, 17:39 »
Try buying AND selling at the same time then  :whistle: :sick:

Offline bobbarley

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Re: House buying without a mortgage, dilemma...
« Reply #27 on: 05 August 2014, 19:17 »
We want to move house but it's a f*cked up situation. 

If we sell the house for what we paid for it we'd walk away with a £10k deposit for another place.  That means we could get a 95% mortgage on a £200k house, but we can only borrow up to £150k from the banks.  We can't afford to make the repayments on a £150k house, we can probably afford something around the £100k mark.  The location we want to move to £100k will only get us a 2 bed terrace.

So basically we can downgrade (we have a 2 bed semi with garage), or stay in this house until we die (or someone else in my family who's rich does!).

Really not ideal  :undecided:

Offline Sam

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Re: House buying without a mortgage, dilemma...
« Reply #28 on: 06 August 2014, 13:55 »
Try buying AND selling at the same time then  :whistle: :sick:

Try buying a grade II listed semi-habitable property with a commercial shop attached and a flying freehold.  :sick:


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Offline simonpolly

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Re: House buying without a mortgage, dilemma...
« Reply #29 on: 07 August 2014, 16:20 »
Try buying AND selling at the same time then  :whistle: :sick:

Try buying a grade II listed semi-habitable property with a commercial shop attached and a flying freehold.  :sick:
Sounds to me like your problems have only just started, grade two listed with a flying freehold for your first property :shocked:,i hope you have some knowledgeable friends and family  :grin:
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