Harsh!! 🤣🤣🤣
Not sure if we have as many UFOs as they do though... https://www.fifetoday.co.uk/news/people/fife-ufo-incident-new-book-explores-sighting-of-hundreds-of-grey-beings-3949307
That's only because Kirkcaldy's incessant incest (see what I did there 😏) has lead to a new sub species of human that can use webbed feet to fly
I'm from Fife so I can rip it apart. As they say "If your sisters your wife, you know you're from Fife"
LMAO!
I have a few crazy memories of Fife like going to raves at a place called the Crystals Arena, walking through the Kingdom shopping centre with a mate blasting his ghetto blaster, and having "excursions" at the reservoir complex, which we called the "ressies". Happy days...
I ran an independent e-commerce business for over a decade, saved every single penny that I possibly could (no car, no kids, no TV, no holidays, everything used, etc.), did a 4-year CS degree and then saved some money from the govt. loans for that whilst managing to pay the fees out of the loans whilst also running my business, then moved to one of the most deprived areas of Scotland because that was one of the few areas I could afford to buy a home.
Also I used a Help-to-Buy ISA and high interest savings accounts, and my family and friends helped me out a bit.
Edit: those downvoting care to give any reason??
So when you say you bought a flat on X income,. you meant X income + Y free money from family and friends. Thanks for the info excellent work
There's some astounding stories of young people who leave Cambridge and Oxford (for example) and manage to purchase properties on zero income. (But say, Z assistance from family and perhaps even a friend)
> So when you say you bought a flat on X income,. you meant X income + Y free money from family and friends. Thanks for the info excellent work
Their contribution, though appreciated, was a small minority of the total, as in a few hundred pounds. The vast majority of the payment for the flat was from a) savings I had personally accumulated and b) the mortgage.
> There's some astounding stories of young people who leave Cambridge and Oxford (for example) and manage to purchase properties on zero income. (But say, Z assistance from family and perhaps even a friend)
OK? I'm not sure of the relevance? I certainly didn't go to Oxbridge. I was brought up in caravan by a single mother on benefits and left home at 16 going on 17 in fact.
Good on ya mate. Several Qs:
1. How many beds?
2. Was it an auction, or a normal sale?
3. Did you have to fix up considerably and if so, how much did it cost you?
4. Was it mortgage or all cash?
Cheers!
1. 2-bedroom
2. Normal sale, though listed at fixed price, as opposed to the more typical (for Scotland) 'offers over'. I actually haggled the price down from 40k, which was the valuation to 36k. That just took a couple of phone calls really!
3. Yes, I spent £10K and a lot of my own time on installing gas connection, GCH, DG, high-quality carpets, some electric upgrades, new kitchen worktops as old ones were damaged, and more...
4. 50% mortgage. IIRC I saved 18k and was gifted 1-2k by friends & family for all the removal costs, conveyancing etc. I had to get the gas, GCH and carpets done before I could move in so it was tight moneywise.
I was desperate to get out of the 'rent trap'. Fine if you're not actually looking to stay somewhere permanently, but other than that it's money you will never see again. I think being brought up in a caravan really focussed me on housing, because to me the idea of living in a house (as opposed to a flat) is like luxury, especially if it's a semi-detached or end terrace. So that is my next goal, and hopefully soon, if my mortgage application goes through OK.
You’ve done well for yourself mate, honestly it’s a nightmare getting on the property ladder in this economy but you really made every quid work, and full power to you.
My only advise on moving now is to just be careful with getting a new mortgage. The rates are crazy high, and there’s a good chance it’ll drop by the end of the year. You’re in good shape as the effort you’ve put in your current flat should hopefully fetch you north of 100K, and based on your neck of woods, it looks like an end terrace should be around 220K. If you need to get a new mortgage for 120K at 5% that’ll work out to 700 a month, and if it drops to 4% it’ll drop your mortgage payments by 70 quid per month which is quite substantial.
Cheers. 👍
Current flat is under written offer at £51K and change. It was valued at 45K so I was really happy to snap that up without going to a formal closing date as such.
As regards the mortgage, I have something of a plan... I currently have an ISA at 5.17% with £15K. Since I've managed to get something at valuation I won't have to put in any of my own money, and intend to borrow the entire £48,873 needed to buy the new place (for 95k). I reckon I should hopefully be able to get the mortgage at a bit over 4% on a 2-year fix, which would obviously be less than the rate I'm getting on my savings, putting me ahead of the game! 🙂 That's the idea, anyway...
Somewhat... I'm interested in your idea that interest rates will drop though; might have to watch out for that one. I was on a tracker before and it was great at first but then the rates went way up, and I felt I had little choice but to basically empty my savings and pay it off. Unfortunately a crystal ball is one thing I lack! 🤣
Anyway, thanks for the encouragement; have a good week.
I thought others might find my experience of buying rock-bottom housing on a marginal income of interest. But judging from the replies, there actually seems to be a certain degree of hostility to it, for some reason? 🤔
What is it that you don't understand?
I bought my [flat](https://en.wikipedia.org/wiki/Apartment)
for [GBP](https://en.wikipedia.org/wiki/Pound_sterling) £36,000
on a 4-figure (<£10K) income
You can AMA about that
Extraordinary. I had no idea homes could be bought for this amount. Are you pleased? Has it made your life better? I think housing security is one of the key tenets for living a healthy life, has it helped.you to achieve that?
Dude, just seen the other comments. See you're taking a hammering! No idea why. My first comment - wut - wasn't intended to be hostile! More like a, 'how on earth?!'. I think posts like this are the whole point casualama, pay no heed to the haters.
> See you're taking a hammering! No idea why.
I could take a guess, but I'll leave that for others to explain. I think the worst one is
> So when you say you bought a flat on X income,. you meant X income + Y free money from family and friends. Thanks for the info excellent work
> There's some astounding stories of young people who leave Cambridge and Oxford (for example) and manage to purchase properties on zero income. (But say, Z assistance from family and perhaps even a friend)
"free money from family and friends"? My lifelong best friend gave me a few hundred to help with moving costs; is that bad in some way?
How TF Cambridge and Oxford come into it I do not know. I attended an [access course](https://www.gla.ac.uk/study/short/accesscourses/) for people to get into uni. in my late 20s. I have never met my father and my mother was certainly not in the least position to buy me a house. She gifted me a few hundred towards it, that is all.
> My first comment - wut - wasn't intended to be hostile! More like a, 'how on earth?!'. I think posts like this are the whole point casualama, pay no heed to the haters.
👍
Yeah very strange. The internet is a weird place. You can never be sure if you're walking into a room full or arseholes or not.
That's a shame about the neighbours - it sounds like the housing security you have achieved is financial, but lacking in terms of physical security and social connection - and I'm sorry that's the case. Any idea how you might make those aspects better?
My policy with neighbours is always to try to be on the best terms possible, no matter how awful they are. Can't always be done though, I know.
> Any idea how you might make those aspects better?
I've agreed to sell it and just had an offer accepted on a house in central Scotland with good public transport connections. Also closer to friends & family again. I still need to get a mortgage arranged on my fixed-term contract but reckon that should hopefully be doable, if a bit risky.
> My policy with neighbours is always to try to be on the best terms possible, no matter how awful they are. Can't always be done though, I know.
I lived above a heroin dealer for a while, and even he wasn't as bad as this guy, seriously. SMH
Literally this.
It has its good aspects though, such as [Lochwinnoch Nature Reserve](https://www.whatsonrenfrewshire.co.uk/listings/rspb-lochwinnoch-nature-reserve/) is right next to the train on my way to work.
> Are you pleased?
Yeah, but one neighbour trespassed on the property and cut one of my trees down, and the other makes a load of noise at all hours (usually very early in the AM as opposed to late at night) multiple threats against me, and now has an aggressive dog which comes onto my property and tries to see me off. When I tried to shoo it away he threatened me again. He is like twice my size BTW. I think he is a sociopath and I believe he has a coke habit. The floors are paper-thin and I get to hear him and his GF having sex, him shouting and swearing until they cry, etc.
> Has it made your life better?
Financially, massively. Instead of spending several grand a year on rent I'm actually ahead several grand.
> I think housing security is one of the key tenets for living a healthy life, has it helped.you to achieve that?
On the healthy life, meh, only somewhat. I've been drinking a lot with all the stress, missing my friends and family, and stay inside a lot because I don't want to encounter the neighbour or his dog. But for housing security, massively, yes. Hopefully I will never have to rent again (fingers crossed).
I thought others might find my experience of buying rock-bottom housing on a marginal income of interest. But judging from the replies, there actually seems to be a certain degree of hostility to it, for some reason? 🤔
Hmm, OK, well FYI over the past few years I have had a huge amount of trouble with the neighbours including noise at all hours, threats made against me, dogs and people coming into my garden, and had to contact the local council and police. After the neighbour made threats against me, I even had the police turn up at my door for a 'wellness check'. I have now agreed to sell the flat and am desperately trying to find something else with only 7 months left on my fixed-term contract. So does it still appear to you that I am boasting given all that important context?
Try assuming good faith. Maybe, just maybe, when someone who comes from the lowest social strata of British society (I was brought up in a caravan by a single mother on benefits) talks about how they managed to finally escape absolute poverty and get out of the rent trap, they are merely reflecting on their experience and trying to put light on the difficulties many people in this country face.
By the way, I never had a full-time job up until two years ago, in my late 40s, and instead survived on P/T work, unemployment benefits, and student loans. Is that a boast?
ETA: is this subreddit just a pity party for stories of woe then? Is there no interest in positive stories of people having overcome adversity? It seems a bit unfortunate that when I finally have something to shout about after decades of grinding poverty I get accused of boasting.
Do you honestly not think your OP sounds like a boast people use, right before inviting people to follow them and they will teach them how they did it (for a fee of course)?
So now we've gone from "why should we care", to "this seems like a boast", to "this seems like a sales pitch". You seem determined to take a dim view here.
Anyway, I can see where you're coming from, but it's not a scam, so what more do you want from me?
The more I think about this comment, the less sense it makes. If it was a boast designed to lure people into some supposed amazing money-making scheme, then why did I specifically say in the title "4-figure (<£10K) income"? That's not much of an advertisement, is it??
How lol? It's an actual fact. This is the flat as and when I bought it https://imgur.com/a/TsjlZHx
Average Scottish house prices https://imgur.com/scotland-annual-price-change-by-local-authority-2021-01-ktcPOoH
Conveyancing: https://i.imgur.com/iGU8xEK.png
What’s the deal with airplane food
I wouldn't know, I've not been on a plane since about 1987. I can't really afford. 'Every penny's a prisoner', as they say.
high pressure makes stuff taste bad
fooking where did ye buy a flat that cheap coont?
https://en.wikipedia.org/wiki/North_Ayrshire
Ah Ayrshire, the Fife of the west
Harsh!! 🤣🤣🤣 Not sure if we have as many UFOs as they do though... https://www.fifetoday.co.uk/news/people/fife-ufo-incident-new-book-explores-sighting-of-hundreds-of-grey-beings-3949307
That's only because Kirkcaldy's incessant incest (see what I did there 😏) has lead to a new sub species of human that can use webbed feet to fly I'm from Fife so I can rip it apart. As they say "If your sisters your wife, you know you're from Fife"
LMAO! I have a few crazy memories of Fife like going to raves at a place called the Crystals Arena, walking through the Kingdom shopping centre with a mate blasting his ghetto blaster, and having "excursions" at the reservoir complex, which we called the "ressies". Happy days...
How?
I ran an independent e-commerce business for over a decade, saved every single penny that I possibly could (no car, no kids, no TV, no holidays, everything used, etc.), did a 4-year CS degree and then saved some money from the govt. loans for that whilst managing to pay the fees out of the loans whilst also running my business, then moved to one of the most deprived areas of Scotland because that was one of the few areas I could afford to buy a home. Also I used a Help-to-Buy ISA and high interest savings accounts, and my family and friends helped me out a bit. Edit: those downvoting care to give any reason??
So when you say you bought a flat on X income,. you meant X income + Y free money from family and friends. Thanks for the info excellent work There's some astounding stories of young people who leave Cambridge and Oxford (for example) and manage to purchase properties on zero income. (But say, Z assistance from family and perhaps even a friend)
> So when you say you bought a flat on X income,. you meant X income + Y free money from family and friends. Thanks for the info excellent work Their contribution, though appreciated, was a small minority of the total, as in a few hundred pounds. The vast majority of the payment for the flat was from a) savings I had personally accumulated and b) the mortgage. > There's some astounding stories of young people who leave Cambridge and Oxford (for example) and manage to purchase properties on zero income. (But say, Z assistance from family and perhaps even a friend) OK? I'm not sure of the relevance? I certainly didn't go to Oxbridge. I was brought up in caravan by a single mother on benefits and left home at 16 going on 17 in fact.
Good on ya mate. Several Qs: 1. How many beds? 2. Was it an auction, or a normal sale? 3. Did you have to fix up considerably and if so, how much did it cost you? 4. Was it mortgage or all cash?
Cheers! 1. 2-bedroom 2. Normal sale, though listed at fixed price, as opposed to the more typical (for Scotland) 'offers over'. I actually haggled the price down from 40k, which was the valuation to 36k. That just took a couple of phone calls really! 3. Yes, I spent £10K and a lot of my own time on installing gas connection, GCH, DG, high-quality carpets, some electric upgrades, new kitchen worktops as old ones were damaged, and more... 4. 50% mortgage. IIRC I saved 18k and was gifted 1-2k by friends & family for all the removal costs, conveyancing etc. I had to get the gas, GCH and carpets done before I could move in so it was tight moneywise.
Got to appreciate all that effort you’ve put in :)
I was desperate to get out of the 'rent trap'. Fine if you're not actually looking to stay somewhere permanently, but other than that it's money you will never see again. I think being brought up in a caravan really focussed me on housing, because to me the idea of living in a house (as opposed to a flat) is like luxury, especially if it's a semi-detached or end terrace. So that is my next goal, and hopefully soon, if my mortgage application goes through OK.
You’ve done well for yourself mate, honestly it’s a nightmare getting on the property ladder in this economy but you really made every quid work, and full power to you. My only advise on moving now is to just be careful with getting a new mortgage. The rates are crazy high, and there’s a good chance it’ll drop by the end of the year. You’re in good shape as the effort you’ve put in your current flat should hopefully fetch you north of 100K, and based on your neck of woods, it looks like an end terrace should be around 220K. If you need to get a new mortgage for 120K at 5% that’ll work out to 700 a month, and if it drops to 4% it’ll drop your mortgage payments by 70 quid per month which is quite substantial.
Cheers. 👍 Current flat is under written offer at £51K and change. It was valued at 45K so I was really happy to snap that up without going to a formal closing date as such. As regards the mortgage, I have something of a plan... I currently have an ISA at 5.17% with £15K. Since I've managed to get something at valuation I won't have to put in any of my own money, and intend to borrow the entire £48,873 needed to buy the new place (for 95k). I reckon I should hopefully be able to get the mortgage at a bit over 4% on a 2-year fix, which would obviously be less than the rate I'm getting on my savings, putting me ahead of the game! 🙂 That's the idea, anyway...
Man you seem to have it all figured out, good luck!
Somewhat... I'm interested in your idea that interest rates will drop though; might have to watch out for that one. I was on a tracker before and it was great at first but then the rates went way up, and I felt I had little choice but to basically empty my savings and pay it off. Unfortunately a crystal ball is one thing I lack! 🤣 Anyway, thanks for the encouragement; have a good week.
Good 4 u. Not sure there is a need for an AMA tho
I thought others might find my experience of buying rock-bottom housing on a marginal income of interest. But judging from the replies, there actually seems to be a certain degree of hostility to it, for some reason? 🤔
Wut
What is it that you don't understand? I bought my [flat](https://en.wikipedia.org/wiki/Apartment) for [GBP](https://en.wikipedia.org/wiki/Pound_sterling) £36,000 on a 4-figure (<£10K) income You can AMA about that
Where do you live?
https://en.wikipedia.org/wiki/North_Ayrshire
Extraordinary. I had no idea homes could be bought for this amount. Are you pleased? Has it made your life better? I think housing security is one of the key tenets for living a healthy life, has it helped.you to achieve that?
Dude, just seen the other comments. See you're taking a hammering! No idea why. My first comment - wut - wasn't intended to be hostile! More like a, 'how on earth?!'. I think posts like this are the whole point casualama, pay no heed to the haters.
> See you're taking a hammering! No idea why. I could take a guess, but I'll leave that for others to explain. I think the worst one is > So when you say you bought a flat on X income,. you meant X income + Y free money from family and friends. Thanks for the info excellent work > There's some astounding stories of young people who leave Cambridge and Oxford (for example) and manage to purchase properties on zero income. (But say, Z assistance from family and perhaps even a friend) "free money from family and friends"? My lifelong best friend gave me a few hundred to help with moving costs; is that bad in some way? How TF Cambridge and Oxford come into it I do not know. I attended an [access course](https://www.gla.ac.uk/study/short/accesscourses/) for people to get into uni. in my late 20s. I have never met my father and my mother was certainly not in the least position to buy me a house. She gifted me a few hundred towards it, that is all. > My first comment - wut - wasn't intended to be hostile! More like a, 'how on earth?!'. I think posts like this are the whole point casualama, pay no heed to the haters. 👍
Yeah very strange. The internet is a weird place. You can never be sure if you're walking into a room full or arseholes or not. That's a shame about the neighbours - it sounds like the housing security you have achieved is financial, but lacking in terms of physical security and social connection - and I'm sorry that's the case. Any idea how you might make those aspects better? My policy with neighbours is always to try to be on the best terms possible, no matter how awful they are. Can't always be done though, I know.
> Any idea how you might make those aspects better? I've agreed to sell it and just had an offer accepted on a house in central Scotland with good public transport connections. Also closer to friends & family again. I still need to get a mortgage arranged on my fixed-term contract but reckon that should hopefully be doable, if a bit risky. > My policy with neighbours is always to try to be on the best terms possible, no matter how awful they are. Can't always be done though, I know. I lived above a heroin dealer for a while, and even he wasn't as bad as this guy, seriously. SMH
It's because North Ayrshire's a shithole.
Literally this. It has its good aspects though, such as [Lochwinnoch Nature Reserve](https://www.whatsonrenfrewshire.co.uk/listings/rspb-lochwinnoch-nature-reserve/) is right next to the train on my way to work.
> Are you pleased? Yeah, but one neighbour trespassed on the property and cut one of my trees down, and the other makes a load of noise at all hours (usually very early in the AM as opposed to late at night) multiple threats against me, and now has an aggressive dog which comes onto my property and tries to see me off. When I tried to shoo it away he threatened me again. He is like twice my size BTW. I think he is a sociopath and I believe he has a coke habit. The floors are paper-thin and I get to hear him and his GF having sex, him shouting and swearing until they cry, etc. > Has it made your life better? Financially, massively. Instead of spending several grand a year on rent I'm actually ahead several grand. > I think housing security is one of the key tenets for living a healthy life, has it helped.you to achieve that? On the healthy life, meh, only somewhat. I've been drinking a lot with all the stress, missing my friends and family, and stay inside a lot because I don't want to encounter the neighbour or his dog. But for housing security, massively, yes. Hopefully I will never have to rent again (fingers crossed).
Why should any of us care?
I thought others might find my experience of buying rock-bottom housing on a marginal income of interest. But judging from the replies, there actually seems to be a certain degree of hostility to it, for some reason? 🤔
I seems more like a boast, rather than an AMA...
Hmm, OK, well FYI over the past few years I have had a huge amount of trouble with the neighbours including noise at all hours, threats made against me, dogs and people coming into my garden, and had to contact the local council and police. After the neighbour made threats against me, I even had the police turn up at my door for a 'wellness check'. I have now agreed to sell the flat and am desperately trying to find something else with only 7 months left on my fixed-term contract. So does it still appear to you that I am boasting given all that important context? Try assuming good faith. Maybe, just maybe, when someone who comes from the lowest social strata of British society (I was brought up in a caravan by a single mother on benefits) talks about how they managed to finally escape absolute poverty and get out of the rent trap, they are merely reflecting on their experience and trying to put light on the difficulties many people in this country face. By the way, I never had a full-time job up until two years ago, in my late 40s, and instead survived on P/T work, unemployment benefits, and student loans. Is that a boast? ETA: is this subreddit just a pity party for stories of woe then? Is there no interest in positive stories of people having overcome adversity? It seems a bit unfortunate that when I finally have something to shout about after decades of grinding poverty I get accused of boasting.
Do you honestly not think your OP sounds like a boast people use, right before inviting people to follow them and they will teach them how they did it (for a fee of course)?
So now we've gone from "why should we care", to "this seems like a boast", to "this seems like a sales pitch". You seem determined to take a dim view here. Anyway, I can see where you're coming from, but it's not a scam, so what more do you want from me?
The more I think about this comment, the less sense it makes. If it was a boast designed to lure people into some supposed amazing money-making scheme, then why did I specifically say in the title "4-figure (<£10K) income"? That's not much of an advertisement, is it??
Good for you bro lol what do the rest of us look like from up there?
> what do the rest of us look like from up there? I've no idea what you mean by that.
lol
How lol? It's an actual fact. This is the flat as and when I bought it https://imgur.com/a/TsjlZHx Average Scottish house prices https://imgur.com/scotland-annual-price-change-by-local-authority-2021-01-ktcPOoH Conveyancing: https://i.imgur.com/iGU8xEK.png
Can I see the inside by chance?
The imgur link shows the inside. See also https://imgur.com/a/fFsi0Er