Buying a house (and renting)

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poshrule_uk
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PostRe: Buying a house (and renting)
by poshrule_uk » Wed Sep 11, 2019 4:49 pm

BID0 wrote:
Tomous wrote:So, curtain rails.

We’re in the process of buying our first house and we’ve just had the fixture and fittings inventory back and it seems the vendor is taking all the curtain rails except the lounge, where they want £40 to leave them.

Is this the norm? I assumed curtain rails would just be left? And can we require they fill and cover all the holes left by removing the rails? I’ve seen “make walls good” mentioned before, but how do we enforce this? Refuse to exchange if they don’t do it?

Yeh they need to make the walls good if they're leaving holes in them. Making good means filling the holes and then painting them (including painting the entire room if the colour doesn't match)

Regarding buying fixtures and fittings, people do that and it was especially common with the old Stamp Duty Stamp Duty system where you'd be hit with a massive tax jumps at certain thresholds so people would "buy" the house just under the tax bracket and then buy a house full of furniture to make up the cost of the house tax free. As Jawa said I would recommend turning down the offer for a curtain rail, it's not something you usually take when you move house as they are sized to the property's windows, it's like they would just leave it there and if they don't you have £40 to out towards something you actually want in your new home.


The house we purchased 3 years ago they wanted 250 quid for the shed.

I said to the Mrs they are not dismantling that and taking it with them and guess what, got a free shed!!!

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Moggy
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PostRe: Buying a house (and renting)
by Moggy » Wed Sep 11, 2019 4:51 pm

The Doom Spoon wrote:Just wanted to share my experience as I've just become a home owner for the first time. In terms of how long it's taken, from putting in the offer and having it accepted to completing, it's taken us 6 weeks.

We are lucky enough to be friends with an independent mortgage broker, and although they charged us mates rates, they did the exact same job as they would with any of their clients. They found the most suitable mortgage for us, deal with all the applications, find us a reliable and fairly prices solicitor and also sorted us out with home and life insurance to cover us. They take a massive portion of the stress out of buying a house.

Thats not to say its still a massive pain in the ass, stressful and tedious, we felt like our every financial decision for the last year or so was being scrutinised, you feel like you got to justify everything you've every bought etc. Not going to lie I had a few sleepless nights worrying about whether or not we would be accepted for a mortgage etc.

I have to be honest we were only able to afford to buy a place because of a very very kind Grandmother who was happy to give me a portion of my inheritance early. She couldn't believe how expensive it is to buy a house now!

We agreed on £129,500 for the house, we needed a 10% deposit plus fees and moving costs and we decided to pay for an extra months rent where we were living to allow us plenty of time to move. We spent about £15,000 plus we had to buy furniture and appliances and rework the kitchen, that all come to another £2,000 or so.

I have to say though it's best best feeling knowing that, every month that goes by, a few more of these bricks become ours! Plus we are all moved in and set resyd for the baby who's due in February! :slol:


Congrats on the house and baby! :wub:

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Oblomov Boblomov
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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Wed Sep 11, 2019 5:55 pm

I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.

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Moggy
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PostRe: Buying a house (and renting)
by Moggy » Wed Sep 11, 2019 6:02 pm

Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


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Oblomov Boblomov
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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Wed Sep 11, 2019 6:03 pm

I told you to stay off my lawn! :x

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jawafour
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PostRe: Buying a house (and renting)
by jawafour » Wed Sep 11, 2019 6:09 pm

The Doom Spoon wrote:Just wanted to share my experience as I've just become a home owner for the first time....

...we are all moved in and set ready for the baby who's due in February! :slol:

Hey, that's ace, Doom! It must be a good feeling to be settled in and excited about February. You'd better get your Sea of Thieves time in before then ;-) .

Dual
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PostRe: Buying a house (and renting)
by Dual » Wed Sep 11, 2019 7:02 pm

Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


That doesn't sound sustainable mate. Are you having an extension built? Would. It be easier to remortgage?

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BID0
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PostRe: Buying a house (and renting)
by BID0 » Wed Sep 11, 2019 9:15 pm

poshrule_uk wrote:
BID0 wrote:
Tomous wrote:So, curtain rails.

We’re in the process of buying our first house and we’ve just had the fixture and fittings inventory back and it seems the vendor is taking all the curtain rails except the lounge, where they want £40 to leave them.

Is this the norm? I assumed curtain rails would just be left? And can we require they fill and cover all the holes left by removing the rails? I’ve seen “make walls good” mentioned before, but how do we enforce this? Refuse to exchange if they don’t do it?

Yeh they need to make the walls good if they're leaving holes in them. Making good means filling the holes and then painting them (including painting the entire room if the colour doesn't match)

Regarding buying fixtures and fittings, people do that and it was especially common with the old Stamp Duty Stamp Duty system where you'd be hit with a massive tax jumps at certain thresholds so people would "buy" the house just under the tax bracket and then buy a house full of furniture to make up the cost of the house tax free. As Jawa said I would recommend turning down the offer for a curtain rail, it's not something you usually take when you move house as they are sized to the property's windows, it's like they would just leave it there and if they don't you have £40 to out towards something you actually want in your new home.


The house we purchased 3 years ago they wanted 250 quid for the shed.

I said to the Mrs they are not dismantling that and taking it with them and guess what, got a free shed!!!

Nice! You’re better than our Brexit negotiators :nod:

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Oblomov Boblomov
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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Wed Sep 11, 2019 9:47 pm

Dual wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


That doesn't sound sustainable mate. Are you having an extension built? Would. It be easier to remortgage?

Two. Would really rather not — only just got it down to five figures.

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Moggy
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PostRe: Buying a house (and renting)
by Moggy » Wed Sep 11, 2019 9:56 pm

BID0 wrote:
poshrule_uk wrote:
BID0 wrote:
Tomous wrote:So, curtain rails.

We’re in the process of buying our first house and we’ve just had the fixture and fittings inventory back and it seems the vendor is taking all the curtain rails except the lounge, where they want £40 to leave them.

Is this the norm? I assumed curtain rails would just be left? And can we require they fill and cover all the holes left by removing the rails? I’ve seen “make walls good” mentioned before, but how do we enforce this? Refuse to exchange if they don’t do it?

Yeh they need to make the walls good if they're leaving holes in them. Making good means filling the holes and then painting them (including painting the entire room if the colour doesn't match)

Regarding buying fixtures and fittings, people do that and it was especially common with the old Stamp Duty Stamp Duty system where you'd be hit with a massive tax jumps at certain thresholds so people would "buy" the house just under the tax bracket and then buy a house full of furniture to make up the cost of the house tax free. As Jawa said I would recommend turning down the offer for a curtain rail, it's not something you usually take when you move house as they are sized to the property's windows, it's like they would just leave it there and if they don't you have £40 to out towards something you actually want in your new home.


The house we purchased 3 years ago they wanted 250 quid for the shed.

I said to the Mrs they are not dismantling that and taking it with them and guess what, got a free shed!!!

Nice! You’re better than our Brexit negotiators :nod:


Our Brexit negotiators would have burned the shed down, called the homeowners banana splits and then demanded £40k off of the price of the house.

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Dual
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PostRe: Buying a house (and renting)
by Dual » Wed Sep 11, 2019 10:22 pm

Oblomov Boblomov wrote:
Dual wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


That doesn't sound sustainable mate. Are you having an extension built? Would. It be easier to remortgage?

Two. Would really rather not — only just got it down to five figures.


OK bro. Good luck.

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PostRe: Buying a house (and renting)
by Qikz » Wed Sep 11, 2019 10:23 pm

Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


I really don't think it's wise to do that especially with all the possible financial insecurity happening soon. Is there no way you can split it up into smaller amounts over a longer period? (ie don't do everything at once)

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Oblomov Boblomov
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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Wed Sep 11, 2019 10:36 pm

Qikz wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


I really don't think it's wise to do that especially with all the possible financial insecurity happening soon. Is there no way you can split it up into smaller amounts over a longer period? (ie don't do everything at once)

You're right, it's not wise. It is a bit of a concern.

It's all pretty much committed now. We're going to stick all the new appliances/furniture on these cards and then also our regular spending for a few months, until the big bills are out of the way. Hopefully then we'll have a year and a half or so to get the cards cleared. Could be quite the race against time to see off probably around £20k before the interest kicks in :dread:.

We're both full-time and without any dependents, so it should be doable, as long as circumstances don't change...

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Oblomov Boblomov
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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Wed Sep 11, 2019 10:37 pm

Dual wrote:
Oblomov Boblomov wrote:
Dual wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


That doesn't sound sustainable mate. Are you having an extension built? Would. It be easier to remortgage?

Two. Would really rather not — only just got it down to five figures.


OK bro. Good luck.

:lol: Cheers bro.

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poshrule_uk
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PostRe: Buying a house (and renting)
by poshrule_uk » Thu Sep 12, 2019 12:38 pm

Oblomov Boblomov wrote:
Qikz wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


I really don't think it's wise to do that especially with all the possible financial insecurity happening soon. Is there no way you can split it up into smaller amounts over a longer period? (ie don't do everything at once)

You're right, it's not wise. It is a bit of a concern.

It's all pretty much committed now. We're going to stick all the new appliances/furniture on these cards and then also our regular spending for a few months, until the big bills are out of the way. Hopefully then we'll have a year and a half or so to get the cards cleared. Could be quite the race against time to see off probably around £20k before the interest kicks in :dread:.

We're both full-time and without any dependents, so it should be doable, as long as circumstances don't change...


I'm sure you have done this but work out what your going to spend on credit, divide it by months to clear then you know the minimum payment each month to get it all sorted.

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poshrule_uk
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PostRe: Buying a house (and renting)
by poshrule_uk » Thu Sep 12, 2019 12:39 pm

BID0 wrote:
poshrule_uk wrote:
BID0 wrote:
Tomous wrote:So, curtain rails.

We’re in the process of buying our first house and we’ve just had the fixture and fittings inventory back and it seems the vendor is taking all the curtain rails except the lounge, where they want £40 to leave them.

Is this the norm? I assumed curtain rails would just be left? And can we require they fill and cover all the holes left by removing the rails? I’ve seen “make walls good” mentioned before, but how do we enforce this? Refuse to exchange if they don’t do it?

Yeh they need to make the walls good if they're leaving holes in them. Making good means filling the holes and then painting them (including painting the entire room if the colour doesn't match)

Regarding buying fixtures and fittings, people do that and it was especially common with the old Stamp Duty Stamp Duty system where you'd be hit with a massive tax jumps at certain thresholds so people would "buy" the house just under the tax bracket and then buy a house full of furniture to make up the cost of the house tax free. As Jawa said I would recommend turning down the offer for a curtain rail, it's not something you usually take when you move house as they are sized to the property's windows, it's like they would just leave it there and if they don't you have £40 to out towards something you actually want in your new home.


The house we purchased 3 years ago they wanted 250 quid for the shed.

I said to the Mrs they are not dismantling that and taking it with them and guess what, got a free shed!!!

Nice! You’re better than our Brexit negotiators :nod:


Send me to Brussels and quick!

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Jenuall
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PostRe: Buying a house (and renting)
by Jenuall » Thu Sep 12, 2019 1:08 pm

Regarding the earlier discussion I'm fairly certain that leaving holes in the walls is the standard, that's what all my research told me when we moved at the start of the year. I was getting concerned as we took down a lot of shelves etc. and so wanted to know if filling the holes would be required - the estate agents, solicitors, moving company and basically everyone we asked confirmed that the expectation is that holes will be left unfilled.

On thinking about it afterwards it makes much more sense this way - after buying a house I want to know where the previous occupant had made holes in the wall as this will have an impact on where I put stuff! I don't want to be putting a shelf up only find that I'm drilling into a weak bit of wall where they have hastily filled a previous hole.

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Rocsteady
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PostRe: Buying a house (and renting)
by Rocsteady » Thu Sep 12, 2019 1:23 pm

Oblomov Boblomov wrote:
Dual wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


That doesn't sound sustainable mate. Are you having an extension built? Would. It be easier to remortgage?

Two. Would really rather not — only just got it down to five figures.

Holy gooseberry fool man :lol:

Party at yours when that's all done.

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That's not a growth
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PostRe: Buying a house (and renting)
by That's not a growth » Thu Sep 12, 2019 2:49 pm

poshrule_uk wrote:
Oblomov Boblomov wrote:
Qikz wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


I really don't think it's wise to do that especially with all the possible financial insecurity happening soon. Is there no way you can split it up into smaller amounts over a longer period? (ie don't do everything at once)

You're right, it's not wise. It is a bit of a concern.

It's all pretty much committed now. We're going to stick all the new appliances/furniture on these cards and then also our regular spending for a few months, until the big bills are out of the way. Hopefully then we'll have a year and a half or so to get the cards cleared. Could be quite the race against time to see off probably around £20k before the interest kicks in :dread:.

We're both full-time and without any dependents, so it should be doable, as long as circumstances don't change...


I'm sure you have done this but work out what your going to spend on credit, divide it by months to clear then you know the minimum payment each month to get it all sorted.


No! You should put aside that amount, but only pay off the minimal amount (assuming 0%). The different you put into an account that gives you interest, then you pay off the cards in the last month.

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poshrule_uk
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PostRe: Buying a house (and renting)
by poshrule_uk » Thu Sep 12, 2019 3:17 pm

That's not a growth wrote:
poshrule_uk wrote:
Oblomov Boblomov wrote:
Qikz wrote:
Oblomov Boblomov wrote:I'm getting some work done on my house. I say some, in total it's come to about £120k.

My wife is starting to feel sick because of the amount of debt we're going to be in. I am a little worried, but we're just going to open as many 24+ month credit cards as we can and pay them off over the next couple of years.

That's my cunning plan anyway :slol:.


I really don't think it's wise to do that especially with all the possible financial insecurity happening soon. Is there no way you can split it up into smaller amounts over a longer period? (ie don't do everything at once)

You're right, it's not wise. It is a bit of a concern.

It's all pretty much committed now. We're going to stick all the new appliances/furniture on these cards and then also our regular spending for a few months, until the big bills are out of the way. Hopefully then we'll have a year and a half or so to get the cards cleared. Could be quite the race against time to see off probably around £20k before the interest kicks in :dread:.

We're both full-time and without any dependents, so it should be doable, as long as circumstances don't change...


I'm sure you have done this but work out what your going to spend on credit, divide it by months to clear then you know the minimum payment each month to get it all sorted.


No! You should put aside that amount, but only pay off the minimal amount (assuming 0%). The different you put into an account that gives you interest, then you pay off the cards in the last month.


Your a stoozer are you?

I wouldn't say I'm incorrect, it just depends on what you're comfortable with and your relationship with money but that's a good shout


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