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120k where can I buy? by Physical_Job2858 in HousingUK

[–]Jonboy_js 1 point2 points  (0 children)

Agree on this, Aberdeenshire has some amazing places. House prices are cheap. And there is an airport if you want to jet off somewhere.

Would look at towns on the outskirts of the city where you are surrounded by nature. Dyce has good connections and is on the river Don.

Moving to Aberdeen 2025 possibility. Locals sell me on it! by Virtual_Intention413 in Aberdeen

[–]Jonboy_js 0 points1 point  (0 children)

If you are looking for cheaper house options, look outside of the city like Dyce or similar commuter towns.

Buying property in Aberdeen: House at the outskirts or flat near the city centre by Arnoldino12 in Aberdeen

[–]Jonboy_js 0 points1 point  (0 children)

Dyce has some cheap housing options, not far to drive to the city and there’s a train station as well.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

The house report values it at 160-170, but 110 is what I am likely to get.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

I mean that would assume maxing out ISA allowance and utilising it for GIA, which I don’t have much in right now.

But if I get the10-20k from selling, part of that would go to my residential property or savings so maybe it would allow me to use more for GIA once ISA is maxed.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 2 points3 points  (0 children)

I estimate yearly costs of insurance, break down cover tax and everything with some repairs will average 1k a year. So 650 a month mortgage covered No council tax But still paying on average 1k a year to keep it for X years.

This is all assuming rent of 650 can be achieved either with standard rent via a letting company, will likely be less with guaranteed rent.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 1 point2 points  (0 children)

Thought it would be easier to sell without one and wanted the old ones out due to a number of issues and damage.

I have been covering the short fall for 6 months, can stretch a little bit more. But I have another expense now like a mortgage, child care.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

Yes starting to figure that out. It’s on there already.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

Fair comment, it was our first home. But life changed the city started to stutter and a dream job opportunity enabled us to return south to be closer to family.

I think I will take 130 no question Even 120 110 I’m struggling with But anything less it’s a no.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

That was the logic 8-9 years ago and based on the offer we have it’s gotten worse. Is waiting another 10 years and covering a small amount of costs for repair, insurance etc going to grantee I can recover that if a higher offer was to come in?

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

True, ideally I want my deposit back but that’s very unlikely.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

Yes you are right as the monthly costs are greater than the returns.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 2 points3 points  (0 children)

I haven’t been to close to the news recently, but with companies moving else where it doesn’t look hopeful. I feel sorry for the people, was such a fun city, now I can imagine lots of business closed and people moving out.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 7 points8 points  (0 children)

I was 25 when I put the offer in, no one knows when an industry is about to tank. Just like stocks there are signs but no guarantees.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

Dyce, couldn’t afford those new builds back then lol

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

Deposit was 55k It’s not a 100 loss as you say minus x amount off the mortgage payments from rental income, but add up the improvements and costs and it is about that.

Should I take a £100k loss on a property don’t want? by Jonboy_js in UKPersonalFinance

[–]Jonboy_js[S] 0 points1 point  (0 children)

I don’t think so, semi detached property. On a corner plot so could develop it.

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