Omega Owners Forum - finally bought second house

tunnie

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Re: finally bought second house
Reply #15 - 04. Feb 2011 at 11:34

aaronjb wrote on 04. Feb 2011 at 11:23:

millwall wrote on 04. Feb 2011 at 11:07:

aaronjb wrote on 04. Feb 2011 at 10:21:

Cor, second houses, flats in London.. how the other half live .. Grin

beans on toast for the next 30 years Grin

Sounds familiar! It's just this is my only place Wink

Mortgage was 61% of my take-home last month, though so I suppose I should be hoping for hyper-inflation to inflate my salary and bring down the size of my debt! Maybe in 10-15 years I'll think about a second place, but by that point I'll only have 20 years to pay off a mortgage or thereabouts Undecided

bah, if I have kids they can fend for themselves! Grin

Anyway, don't get me wrong .. I wish you all the best, too Thumbs Up!

Mr Landed Gentry Grin

Its a killer mine varies from 48% to 58% depending how much over-time I can blag.

I'm still paying back government student loan, but that should be paid of within next 5/6 years, so that should help

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Do you break V6's as often as TheBoy? Then you need tunnie's towing services, recovery costs are just the humiliation of being towed by 2/3's of an engine

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aaronjb

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Re: finally bought second house
Reply #16 - 04. Feb 2011 at 11:43

Yep - fortunately I have no other real debts.. unfortunately the house was a bit of a basket case when I bought it and still needs a new kitchen, garage, the garden doing, rewiring and the trees cutting down.. Cheesy

(Fortunately it at least had two reasonable bathrooms, and I've already had the single glazed draughty windows replaced and the central heating done)

I try not to think about it all or it's a bit overwhelming!

Hopefully all be worth it in the end.

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..and it went 'dugga dugga dugga dugga'..

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millwall

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Re: finally bought second house
Reply #17 - 04. Feb 2011 at 12:09

tunnie wrote on 04. Feb 2011 at 11:16:

millwall wrote on 04. Feb 2011 at 11:06:

tunnie wrote on 04. Feb 2011 at 10:45:

Mr Skrunts wrote on 04. Feb 2011 at 10:26:

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. Undecided

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week rental market is very good at the moment although to get a good deal on the mortgage we had to have 35k deposit so will be very tough for a while but ultimately worth it we are now saving to buy another early next year going to be more struggling and headaches but hopefully in the future my kids will reap the benefits he says whilst touching wood and crossing fingers Grin

Yeah, another reason I picked London rather than the North, where I could get lot more for my money.

If the worst happened and I lost my job, I could rent it out. There are 5 different tube/train line stations within 10/15 min walk of my flat, one of them is literally a 50 second walk, other is in Zone2 so it would be easy to find rental income.

What kind of paperwork did you have to get in place to rent these days? Think you need gas/electric certification and such?

oh yes thats another can of worms but as im trade and have made many friends in various other trades got my gas and elec certs for beer tokens but they need doing annually without fail we also had top end smoke alarms and carbon monoxide alarms fitted

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skyblue

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Re: finally bought second house
Reply #18 - 04. Feb 2011 at 14:40

millwall wrote on 04. Feb 2011 at 11:06:

tunnie wrote on 04. Feb 2011 at 10:45:

Mr Skrunts wrote on 04. Feb 2011 at 10:26:

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. Undecided

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week rental market is very good at the moment although to get a good deal on the mortgage we had to have 35k deposit so will be very tough for a while but ultimately worth it we are now saving to buy another early next year going to be more struggling and headaches but hopefully in the future my kids will reap the benefits he says whilst touching wood and crossing fingers Grin

At least you will be spared watching the wall for a while now Wink

Well done too

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millwall

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Re: finally bought second house
Reply #19 - 04. Feb 2011 at 15:10

skyblue wrote on 04. Feb 2011 at 14:40:

millwall wrote on 04. Feb 2011 at 11:06:

tunnie wrote on 04. Feb 2011 at 10:45:

Mr Skrunts wrote on 04. Feb 2011 at 10:26:

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. Undecided

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week rental market is very good at the moment although to get a good deal on the mortgage we had to have 35k deposit so will be very tough for a while but ultimately worth it we are now saving to buy another early next year going to be more struggling and headaches but hopefully in the future my kids will reap the benefits he says whilst touching wood and crossing fingers Grin

At least you will be spared watching the wall for a while now Wink

Well done too

im sure i will manage a few games

if she lets me Grin

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markspark Intermediate Member Offline Posts: 449 Bolton Manchester Gender: Drives: irmscher omega 3.2 elite 2.2 Dti Saloon	Re: finally bought second house Reply #20 - 05. Feb 2011 at 16:53 Well done on the second house onwards and upwards it gets easier the more you have good luck
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Lizzie Zoom Deleted Member Offline The Romantic Emotional Pink Lady Posts: 65 Ashford, Kent Gender: Drives: 2000 Omega 3.0 Elite Auto	Re: finally bought second house Reply #21 - 05. Feb 2011 at 17:00 Nice one Millwall! No doubt we will soon see you featuring on the BBC's daytime show, Homes Under The Hammer
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millwall

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Re: finally bought second house
Reply #22 - 05. Feb 2011 at 20:15

Lizzie Zoom wrote on 05. Feb 2011 at 17:00:

Nice one Millwall! Thumbs Up!

No doubt we will soon see you featuring on the BBC's daytime show, Homes Under The Hammer Cheesy

that is exactly my plan lizzie next purchase will be from a auction been doing a bit of working out and with my mum and dad onbard we will be looking to buy in the next couple of months my aim is 4 houses bought and rented out in the next 10 years at last it feels like im doing something worthwhile for my kids future

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