Property Question ?

Monopoly has got more complicated !

I got bought 'Going for Broke' as a kid

Sell your flat.  Rent.  Buy at auction.

3% property tax on second home so if you intend to sell your current property. Sell that first. Do not enter the auction market without all the funds available or you could lose your deposit if unable to complete within 28 days.

thanks
yes i understand all that Dan, which is why i'm wondering if there's a easier way than selling & then having all my own funds available to buy the new property, as Jack so simply puts it

I have considered renting my flat out & going for a mortgage but doesn't seem worth the hassle & liabilites ...

I'm considering just selling & buying a nice van until i see ssomething decent at auction

That's it sell your place and have the funds ready. You may lose the place you have your eye on now but plenty of others will come along. We had searches done on a place and our sale fell through. The place we have now is far better..........things always seem to have a way of working themselves out

thanks for the vote of confidence

yes i know what it's like to buy, i looked at 20-30 properties, made all sorts of offers etc. before i bought this flat early 2013, i just really needed to buy so wasn't perfect, but at least it's increased slightly since then, though with all fee's involved to sell, not by much!

personally i think there's something big looming in the markets but would rather have my cash in a nice house than an apartment with fee's, but sure takes a bit of time to find something decent , but as you say there's always something else that comes along

I thought with the 2nd property tax you had a year to sell the old one. But you might have to pay up front and get a rebate.

If you lose a Property for one reason or another, my wife and i always said, it was meant to be.

This second property tax really is a pile of rubbish, like I think it hits couples in marital difficulties when one moves out etc.
Yet AFAIK the landlord BTL companies can get round it so it doesn't really stop aggressive BTL. It's just bad.

cheers mate
the 2nd property tax is what i'm not sure about ... still not tbh nobody seems to give a straight answer ..and dead right about hitting couples during break ups

this is why they keep implementing all these laws imo .. literally to break up society .. like you say big property landlords have ways of avoiding most of it but breaking the little guy is their way of controlling society!

Actually it says 3 years here:
https://www.stampdutycalculator.org.uk/stamp-duty-second-homes.htm
That sounds fairer, a year might be tight if you had trouble moving it then some **** pulled out on you, 3 is more reasoanble.

thanks
yes i see now you can change your Main residence & get 3 years for a rebate

still you do have to pay the tax up front & wouldn't be any point to wait, but is helpful to know if i really wanted to buy a house to live in at Auction & advertise mine which might take a few months or so to settle

sell your flat and rent something short term


not being in a chain has big advantages


As a cash buyer you will be able to drive a better deal with sellers

I just hate renting though , they want more info & fee's than actually Buying nowadays, and minimum 6 months, plus changing bills etc. it's just such a hassle!

though if i don't sell i'd need to take a mortgage for funding the house, until my place would be sold

May as well just sell & live in a van for few months

Sell out of season you'll find you could probably rent a holiday home or caravan on a month by month basis

I was about to sell my flat some years ago and had nowhere to move to, so I looked at buying a static caravan.  I rang a company inquiring and they offered me a free holiday to experience it!  I was there ten days for free!  I really loved it as well, apart from feeling a little vulnerable being a woman on my own.  The campsite was rural and in a lovely part of england.  I used to go for long walks along the shore.  I didn't buy in the end as my next door neighbour offered to put me up.  It was the easiest removal I have ever had, I only moved  six feet!

You don't have to buy, the rental after the school holidays are really cheap and very flexible.  You can explore all of the uk.  You can buy a cheap one for about £8000 but beware ground rents and conditions and most sites want to sell you expensive ones and do not want older ones on site.  Probably best to just rent.

snap, ufcdan   I often start typing and then do something else, so I duplicate posts

Annie your on your own Mc Moonbean needs a place to stay ! Just saying

Remember though annie "No lighty no likely"

ufcdan

But what on earth is 'no lighty no likely' 

I think I get it, maybe.

Oops forgot did you say you didn't have a telly ? TV program " Take me out"

ok, will look it up

I think I need to seriously think about a tv.  I have missed the election, england match, etc etc

They got colour ones these days!

Good plans
well the caravan i mean .. not sure Annie would put up with me keeping her up half the night

I'll bring the telly with me Annie , don't worry i'll probably have gone just in time for the BBC to arrive at your front door

I considered living in a mobile home a few years ago.  There are a lot of small cheap sites attached to farms and you have the freedom to move around the country.  Didn't to it in the end because I found a place to buy.

McMoonbeam

Make sure that it is a static you rent, not the mobile caravan type.  The static is just like a miniature 2/3/4 flat, you could even rent out the bedrooms and cover the rent possibly.  Or invite family, friends to share.

They got colour ones these days!

Sorry left abruptly other half wanted to walk the dog, couldn't let her go this time of night on her own. I love my dog Anyway in my absence it looks like my dating services have been knocked back. Don't take it to hard Mc Moonbean but annie recommending the virtues of a static caravan over a mobile looks like a hint to me..........did you tell her your TVs a curve screen

I have read that curved screens are not very good, ufcdan.  Apparently it is only a good picture if you are sitting bang in the middle of it.  That would be okay for me but if your partner was watching as well one of you would suffer.

YOu know ufcdan, so many men on here have said they loved their dog, but no mention of their partner.  Come to think of it partners, wives, girlfriends are rarely mentioned.  Men are useless

Just told my other half that you think men are useless..........she thinks you have a point

I've told her she'll regret that, told her I'm going to deny her my body. Apparently she wants that in writing

"YOu know ufcdan, so many men on here have said they loved their dog, but no mention of their partner.  Come to think of it partners, wives, girlfriends are rarely mentioned.  Men are useless"

What if their dog is their partn.....................oops scratch that.

Oh foxy    

ufcdan

My girlfriends a Dachshund..........my mate said how could I stoop so low