Houses...should I buy!

[BrilloPad]

makinmg a good investment in a falling market is like catching a knife in mid air.

[BlasterBates]

you mean do am I on the BTL gravy train.



.....err no

CRASH DAMIT

[Clippy]

If the price is right, go for it but check with estate agents regarding rental potential first.

Personally, I'd be looking to get it for circa £100k.

Blaster - I thought you had a mini BTL empire.

[ChimpMaster]

Property will remain depressed for many, many years yet. Don't rush into a BTL now - there will be better opporunities ahead.

[BlasterBates]

One for all you doom mongers out there

A friend of my wife has recently moved to Australia. She has a house over here which was valued at £160k. She has put it on the market for £130k for a quick sale but it isn't going. I suspect this might have something to do with it standing empty and probably in need of a bit of a spruce up.

I have toyed with the idea of buying it and tarting it up and then either putting it back on the market or renting it out. We currently owe £100k on our house but have about £150k of equity in it. So should I take this step into the buy to let market?

I suspect this has to do with first time buyers not being able to get a mortgage and waitng for a housing crash.

Why put yall your eggs in one basket (property) why not invest your 150K in other things, eg international shares. You're more likely to make 30K on that in 2-3 years than in that house, and you have no work.

I really can't understand this fixation with property, its beyond me. The UK really has to move on from this 1 dimensional investment strategy.

[Troll]

I have toyed with the idea of buying it and tarting it up and then either putting it back on the market or renting it out. We currently owe £100k on our house but have about £150k of equity in it. So should I take this step into the buy to let market?

Boomed I tell ya!!
Link

Buy-to-let landlords profited from the largest ever rise in the number of people renting property in England last year, according to Halifax

Britain's biggest mortgage lender said the trend was mainly driven by cash-strapped twenty-to-thirtysomethings who were unable to buy a property outright, or even secure a mortgage in order to buy.

[TheFaQQer]

What's the rental market like where you are?

If no-one wants to rent it, then whatever price you get it for is bad. If you can get it on the cheap and there's a market, then why not?

[Dow Jones]

Good luck mate

Not normally offering advice about such matters, but:
Option 1/Do it up and sell: Offer £ 120k (no agent fee, so savings there) and another £ 10k on top later (on the proviso it sells above £ 150k) which makes £ 130k
Option 2/Do it up and rent: Offer £ 125k as 'it needs a lot of work done'
If this is your 1st BTL make sure it's close/same city as your main home (my starter), as a lot of people make the worst poss mistake of buying in places far away from home with no knowledge of the local market.

[BoredBloke]

One for all you doom mongers out there

A friend of my wife has recently moved to Australia. She has a house over here which was valued at £160k. She has put it on the market for £130k for a quick sale but it isn't going. I suspect this might have something to do with it standing empty and probably in need of a bit of a spruce up.

I have toyed with the idea of buying it and tarting it up and then either putting it back on the market or renting it out. We currently owe £100k on our house but have about £150k of equity in it. So should I take this step into the buy to let market?