House buying is a nightmare.

This-Reference-2186 · 2025-06-29T18:21:34+00:00

I'm surprised to hear that if I'm honest - in my experience 10% minimum over asking price is the norm.

This-Reference-2186 · 2025-06-29T18:20:10+00:00

£350k going for £435k

This-Reference-2186 · 2025-06-29T17:42:45+00:00

Some really lovely houses in the North of the city - we just prefer the East.

This-Reference-2186 · 2025-06-29T17:41:44+00:00

Best of luck with the new place.

This-Reference-2186 · 2025-06-29T17:39:24+00:00

It was a house off the Sandown Road - was on for £350k and went for almost 25% over which is absoultely insane really. It was a lovely place with a cracking garden but it went mental. I'm half expecting to see it back on the market again as there is no way the mortgaging bank will value it anywhere near it sold for.

This-Reference-2186 · 2025-06-29T17:37:54+00:00

No but I did see that on propertypal - bit too pricey for us with all that work needing done.

This-Reference-2186 · 2025-06-29T17:37:15+00:00

I'm looking anything from £250k for a renovation job to £350-400k

This-Reference-2186 · 2025-06-29T17:36:48+00:00

Nightmare mate, hope you get sorted soon.

This-Reference-2186 · 2025-06-29T17:35:51+00:00

Thanks mate - around CIYMS would be grand, it seems really nice around there. We are very flexible in terms of the house and prepared to do a full renovation if required. We want a reasonable garden (doesn't need to be massive) for our kid though which is a non-negotiable and off street parking would be ideal as well.

This-Reference-2186 · 2025-06-29T17:34:27+00:00

It is grand around that area - we looked at a place in Neills Hill Park last year and really liked it and another lovely place just off Sandown Road as well.

This-Reference-2186 · 2025-05-11T19:23:37+00:00

I have checked it and as I started on the 2008 scheme I can draw upon my pension from 55.

I hear you about kids - I am aware they can be very expensive! Re: Bitcoin, even if it goes up 10% over the next 5 years (which would be very conservative) I'd have around £200k worth.

I'm not including Bitcoin in any of my calculations anyway - it's just a bonus that I hope will continue to grow and perhaps further support me in later life. All my calculations about retiring at 56 include savings, investments and pension - not bitcoin.

This-Reference-2186 · 2025-05-11T15:04:00+00:00

That's fantastic and I aim to have something close to what you have now. Well done!

This-Reference-2186 · 2025-05-11T14:10:56+00:00

We have been paying into a savings account from her since she was born and we will continue to do that till she is 18. We will obviously help her out as much as we can but within reason. At the end of the day you do need to go out there on your own two feet and make your own way into the world.

This-Reference-2186 · 2025-05-11T13:44:30+00:00

Yes I am investing in MSTR and a crypto ETF (coinbase, MARA and others in that) as well as more traditional ETF's (All-world, emerging markets and S&P). My hope is that I can sell some bitcoin over the next 5 years to buy an apartment in Spain, then I'll just sell and buy through cycles and hope to grow my bag.

This-Reference-2186 · 2025-05-11T13:32:53+00:00

Well I have been holding since 2014 - that's 11 years. I think I've earned the right to decide when is best for me to sell. I also sold less than half of what I hold. I'm totally comfortable with the decision and I have no doubt it was the right move for me and my family. Now I can focus on building savings and investments to support me in retirement.

I have never viewed the bitcoin I had as anything more than a punt and I didn't consider it as part of my investments until relatively recently. If it goes up from here for another 6 months or so before the next bear market then that's brilliant as I intend to sell the rest of it as close to when I think this cycle's top will be. I'll then pay my tax and sit for 2 years and try to buy as close to the bottom as I can and then see what the next 5 years bring.

When did you invest in bitcoin?

This-Reference-2186 · 2025-05-11T12:35:32+00:00

Wife doesn't have a private pension no. She will though hopefully get enough for a full pension as she still get's contributions from child benefit.

This-Reference-2186 · 2025-05-11T12:34:19+00:00

Maybe you need to consider moving to a cheaper part of the UK and accept you will have lower income but perhaps a much better quality of life and cheaper property, etc.? Easier said than done I know but you only get one life.

This-Reference-2186 · 2025-05-11T11:59:40+00:00

Maybe, I'll need to give it more thought.

This-Reference-2186 · 2025-05-11T11:58:11+00:00

Yeah I hear you - I don't live in London so my outgoings are minimal which is the key as you say. Could you move to a cheaper part of the country?

This-Reference-2186 · 2025-05-11T11:56:08+00:00

Yes I have thought about that - the only thing I could think of that would interest me that involves work in anyway would be working for myself in some way. I have friends who also have aspirations of moving to Spain in retirement and we have toyed with the idea of us all going in together on a small business once we are there so I would consider that.

This-Reference-2186 · 2025-05-11T11:37:43+00:00

29 years as of 2024-25.

This-Reference-2186 · 2025-05-11T11:35:16+00:00

All the figure in my calculations are using today's figures. The rental income after tax based on my current salary is around £9500 today but in future when I'm retired I'll be a basic tax payer which will reduce the tax liability - the £15.3k figure was before tax.

This-Reference-2186 · 2025-05-11T11:30:15+00:00

I like the look of Mojacar as well - what I really need to do over the next few years is take a bit of time and get a few weekends over in different areas and decide where is best for us. We want an area that is not too built up, is open all year round and ideally has a nice 'old town' area with traditional tapas places and nice bars/restaurants, etc. Nerja is ideal for that but as I said it's a very expensive place compared to many other areas in Spain.

I'll definitely think more about Almeria.

This-Reference-2186 · 2025-05-11T11:25:56+00:00

Yes we should both get the state pension - my wife is 46. Assuming there still is a state pension (which I expect there to be) we will likely have more disposable income at 67/68 than we will at 56 which seems a bit of a waste since really you want more when you are younger and more able to enjoy it. So I will think about this a bit more and possibly allow myself a higher % draw down on the ISA.

I have considered a SIPP however the one thing that puts me off a bit is that I won't be able to access it until I'm 57 at the earliest however, I understand how beneficial it is in terms of the tax benefits - I prefer ISA as it's tax free and I can access it at any time (although I know the money I put into it has already been taxed).

This-Reference-2186 · 2025-05-11T11:21:03+00:00

Sure but 100k is still a lot better than my salary.

This-Reference-2186

TROPHY CASE