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Asomodai posted:We have gone for a 5 years fixed mortgage which may help us ride out the storm in time for prices to recover and interest rates to normalize. Is there anything more we can do? 5 years seems very short. Over here less than 10 years is rare and with interest rates what they are right now you might as well go for 20. Is this not available in the UK? With 20 years fixed interest rate you can just not care that your house is underwater as long as you can keep making the payments. Personally i would never buy a house in a city like London because 600 pounds per day increase just screams BUBBLE in bold underlined impact 72 point ($315k price increase per year, really?). Being house poor would suck. Houses cost so much money to maintain, have you included this in your calculations? Or are you assuming you will be able to take out a loan against the increased value to do maintenance? Then again maybe housing prices in London will keep going up and getting in now will make you rich over the next decade, who knows really.
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Jun 10, 2016 18:31
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| # ¿ May 11, 2024 17:52 |
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