Location, Location, Location

[dave50]

Does anyone on here watch this program? What I can't grasp is how a young couple can afford a £500,000 flat in London as shown last night. These kind of prices crop up time and again and I have always wondered how these people do it. I live in the north of England and i could not afford anywhere near these prices so it would be nice to have an opinion from some of you southerners.

[Bazile]

I often wonder if any of the vendors dont watch this programme to know that Kirsty and Phil always advise the buyers to put in a far less offer than they can afford .

I remember watching one where the buyers put in an offer somewhere around 50k less than the asking price and was staggered when it was accepted - they admit that they were prepared to offer the asking price .

[ummmm]

I thought all house were over priced.

[maggiebee]

These programmes are so cheap to make - total waste of time IMO as the buyers rarely opt for anything they have been shown. More money than sense!

[factor-fiction]

I find these programmes annoying too. As soon as I see a young couple aged in their 20s, maybe with a child on the way, with a budget of £400000 I always feel disengaged as I'm sure do most of the population.

[pastafreak]

I watch in wonder also....but I love peering in other peoples houses...so try not to spend too much time questioning how they can afford things.

[pixie373]

I think houses generally are ridiculous prices. I'm not sure how any of my children will be able to buy their own. We had a help with some money left to OH when his dad died and I got a similar amount from my gran. I wouldn't live in London if you paid me, but houses outside it aren't that affordable either. Imo, people should only be allowed to buy one, unless they are letting.

[tamborine]

£500k+ standard price round here for semi. Mostly airport staff own them.

http://www.rightmove.co.uk/property-for-sale/property-29994888.html

[factor-fiction]

Inherited money must pay a large part in it.

[factor-fiction]

Even with an income of £50K it's not possible to get on the ladder at anything like this level without inherited wealth is it?

[Mamyalynne]

You could buy a street round here for half a million.

[pixie373]

I agree, factor. Not sure how most people do it.

[zebo]

When we were house searching in Norfolk a few years ago, we subsequently saw a couple of houses we viewed, on Escape To The Country, being touted as holiday homes! Put us in our place good and proper.

[ummmm]

Most house hunters looking for large mortgages would probably have 2 incomes.

[jourdain2]

I'm baffled by the prices youngsters can pay. We're looking to come home (to Yorkshire) a.s.a.p. and our absolute maximum budget is 150K - after 2 of us working all our lives, saving as much as possible. 'The times are out of joint!'

[ummmm]

My OH, now 40, bought this house when he was 20 for £45k.

[factor-fiction]

Yes, ummmm. But even when mrsfactor and I had a healthy joint income of over £100K the cost of a family and limits on mortgage loan amounts still meant that a mortgage of over £300K was out of the question.

[bednobs]

people save up now (for years)
when we first bought we had 110% mortgage :)

[ummmm]

It's just pot luck for some people. I live in a sort after area and I can't believe how cheaply this house was purchased. I did the same with my house. Not long after I bought it the prices went crazy. When I sold mine, if he's sold this at the same time we'd have a really healthy amount to put down. Add that to the mortgage we could get it's a hell of a lot of money.

[ummmm]

My grandad put the deposit down on my first house.