• the Daily hi thread just say hi :)
  • All contentious threads including politics, religion, crime, immigration, laws, elections etc are banned & will be removed. There is still a Gun Related Politics section for relevant topics.

What did you pay for your first house?

Mike Woody Watkins

Mike Woody Watkins

Member Extraordinaire
Joined
Jul 7, 2022
Messages
11,821
Reaction score
21,244
Location
Ludlow
These is currently an interesting thread about mortgages and it got me thinking about my first house, or rather maisonette.

I bought it myself, it was a new build and cost me £21,500 of which l borrowed £19,000! That was in 1982 and l was stony broke for about two years after but it was the best thing l ever did.

One sold last year for £215,000 🫣!!

It was in Woking in Surrey and was a one bed maisonette (the top one) This of course is how it looks now.

IMG_6141.jpeg
 
Not quite the answer you were looking for but I remember my mum and dad’s first house. They moved from what was a Smiths industry house in Witney to one in a small town 7 miles away. It was a large 4 bed with massive garden and that cost them £999.99 They paid £21 a month mortgage.
 
When I left my wife in 1997 I bought a tiny new build 2 bed house for £62500 and the builders paid all the Fees and I got cash back from the Halifax mortgage company so it owed me about 60k and I sold it 2yrs later for 77k when I bought my shop … It was last sold about 4yrs ago for £550,000 😭😭😭😭😭😭😭😭😭😭 I have bought and sold a few more since then tho sadly none were as cheap as the first one
 
I got lucky and I mean really lucky.. bought the roughest house in a lovely area. It sat on the market for ages as people couldn't see the potential.

Remember I'm in the south east..

1 bed bungalow in 2013 fully wrecked £127,000

Did a large rear extension and we've refurbed the place throughout.

Now valued at somewhere around £275,000 still 1 bed.

We probably couldn't afford to buy in now...
 
End terrace in Winlaton, Tyneside, stone built, £1,000, 1971, wife was earning £475 a year, & I was on £27 quid a week , Gateshead council threw money at us with both hands, grants for indoor toilet, insulation etc. The world has gone mad
 
My first was in 1980 £9,500 2 bed terrace in south wales needed heating and a rewire and new roof various other jobs but all sorted, moved 1985 to where i am now £18,500 now i would expect £230k, all i want now is to be able to leave it to my daughter and not end up having to use it for my care later in life.
 

What did you pay for your first house?​


Through the nose, like everyone else. I think I paid back about three times what I borrowed. If I could have paid back the loan without interest I would have done it in less than half the time but that's not how the world, and especially banks, work. That said; when it came to selling it went for almost three times the purchase price so I guess I came out about even.
 
guzzicat said:
End terrace in Winlaton, Tyneside, stone built, £1,000, 1971, wife was earning £475 a year, & I was on £27 quid a week , Gateshead council threw money at us with both hands, grants for indoor toilet, insulation etc. The world has gone mad
Click to expand...
Hard to believe what wages were back then. My first wages was £16 a week (1972) and with that l ran a car, paid my mum, had a Chinese twice a week and still was able to save a small amount!
 
old git said:
My first was in 1980 £9,500 2 bed terrace in south wales needed heating and a rewire and new roof various other jobs but all sorted, moved 1985 to where i am now £18,500 now i would expect £230k, all i want now is to be able to leave it to my daughter and not end up having to use it for my care later in life.
Click to expand...
Get some inheritance advice from a proper financial advisor, there are ways to do this but it needs planning and will take several years to protect you both
 
You must log in or register to reply here.
Back
Top