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Julie1962
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Julie1962 is offline
Surrey
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31-12-2017, 12:59 PM
21

Re: house prices

Best inheritance is a good upbringing so they can make their own way IMO no amount of houses or money beats that.

I have a funny feeling by time ours all inherit the price of houses will either have dramatically dropped or prices so high what is available to them won't make a blind bit of difference to them.

So don't promise a life changing amount it's unlikely to make a difference.
realspeed
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South coast
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31-12-2017, 01:22 PM
22

Re: house prices

Membes who have been here some time know what we have had to do to bring the place up to scratch

New main bathroom
new central heating boiler and rads replaced where necessary
windows and handles to work properly
new carpets
complete redecoration of rooms
change some rads to heated towel rails
replace conservatory top wooden half with UPVC and roof with stay clean heat reflection panels


new



outside garage
Replace old wooden doors with electric roller type with security alarm
rewire garage lighting
replace workshop benches and power sockets

Garden

remove2 log sheds and replace with a greenhouse (took 3 months in total )





behind now has plastic storage unit
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Muddy
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UK
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31-12-2017, 01:26 PM
23

Re: house prices

Originally Posted by Julie1962 ->
Best inheritance is a good upbringing so they can make their own way IMO no amount of houses or money beats that.

I have a funny feeling by time ours all inherit the price of houses will either have dramatically dropped or prices so high what is available to them won't make a blind bit of difference to them.

So don't promise a life changing amount it's unlikely to make a difference.
Actually a house makes a huge difference .
It means your children are not burdened with a mortgage or are paying exhorbitant rent.
Julie1962
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Julie1962 is offline
Surrey
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31-12-2017, 01:30 PM
24

Re: house prices

Good for you, ours will have to make their own way, hard but we did it and they will too. Making of a great character IMO only one will be supported by all of us is Gracie, we aren't expecting her to make do in any way we will all do that for her.

Two boys are making a good start by making their lives as good as they can be so they can support her after we are are not able to anymore.

Many families don't have a choice.
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Muddy
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31-12-2017, 01:49 PM
25

Re: house prices

Everyone has a choice in the UK where education and healthcare are free.
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Aerolor
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UK
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31-12-2017, 02:13 PM
26

Re: house prices

Children can still have a good upbringing and be solid citizens, (or great characters as Julie says) whether their parents own a house to leave them or not. My children are now coming into their 40's and they haven't inherited anything yet. Both are buying their own houses and making their own independent way. It was one of the things we encouraged them to do as soon as they could.
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Muddy
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31-12-2017, 10:20 PM
27

Re: house prices

Mine too butit's more difficult now for young people.
Children in their 40s still had a chance at getting somewhere .
My children are all buying their own houses they have huge mortgages .
One is still paying off a student loan.
I would like to leave them a house so they may pay them off or help their own children onto the housing market .
That is what I want to do .
That is what most people want to do help their children .
It's doesn't make them any better or worse a citizen or have better or worse characters for having a little help.
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Bruce
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Wollongong, Australia
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31-12-2017, 11:51 PM
28

Re: house prices

Originally Posted by Julie1962 ->
No ones falling over to bankroll mortgages here Bruce the £60k deposit is only the first stumbling block.
You don't need a deposit for a second house and you can get an interest only loan because you are relying on the capital gain plus the tenant to pay the mortgage for you. All you need is a good business case to present to the bank. Remember the deposit is the bank's security so having a house already is security enough so any deposit you need to make will be small.

One advantage we have in Australia is that you can negatively gear the house against other income such as wages. This means any difference between the mortgage and the rental income is reduced by the percentage of your tax rate.

In years past I had other houses (though personally I never went for interest only loans) which I rented out. The bank that lent me the money for my second house was the same bank that refused me a loan for my first house - I even negotiated 1% below the current mortgage rate because they were so keen to lend.
realspeed
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01-01-2018, 01:39 AM
29

Re: house prices

Far better to have a deposit even if it means saving hard.

Interest only means you never own the property and if my memory serves me right there is a time limit on interest only loans.
Of course I may well be wrong on that point never having gone down that route

Today they want the big 3 bed house fully furnished with a garage -their holidays abroad- their meals out- latest fashions- partying- weekends off, 10am -4pm jobs - flexi time ,etc etc.

yes it is hard but no harder relatively speaking than use OAPs had when we were young
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Muddy
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UK
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01-01-2018, 02:17 AM
30

Re: house prices

It's not realspeed .
We didn't have student debt for a start jobs were plentiful not like today .
Deposits are massive .
There may be some who want all you have listed but not all some scrape by to make ends meet .
 
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