Do you really need a bus barn? I suspect the vast majority of us would consider a bus barn to be a non-essential luxury, and getting one would certainly not be worth the stress and financial losses you are putting yourself through.
Us Big Ugly Americans like places to put or Big toys.We measure the property our houses sit on in acres not square feet.We measure our happiness sometimes by how many large toys that we can collect.Oh No this is starting to sound like " You are a redneck if "
Quote from: DrDave-Reloaded on May 03, 2007, 05:27:22 AMUs Big Ugly Americans like places to put or Big toys.We measure the property our houses sit on in acres not square feet.We measure our happiness sometimes by how many large toys that we can collect.Oh No this is starting to sound like " You are a redneck if " I definitely buy-in to that philosophy too (and have the large toys to prove it), but unfortunately it's much harder / more anti-social to do it here because there is so much less space to do it in. Modern houses and gardens here are ridiciluously small, partly because that is how the builders can maximise their profits, and partly because the Government insist on a certain number of houses per acre to satisfy their own political objectives (ie. increasing house supply to make homes more affordable etc).I'm pretty sensitive to the housing market at the moment as I have just spent some inheritance money buying a holiday home to rent out. In terms of 'value for money' it seemed incredibly expensive, and I'm still not happy that I've done the right thing - but the market dictates the price, so you either take it or leave it. I've just had a quick look at the latest statistics on the UK market - in 2002 the average house price here was £121k (around $240k). Now it is £194k ($400k ish) nationwide, with the average price in the south of Britain being £297k ($600k+). I've no idea how that compares to the US, but it seems pretty expensive to me given house small our houses tend to be. I don't understand all the economics behind it, but one thing which I know has been fuelling the increases here is the fact that it is now much easier to borrow money and get tax relief on mortgages for second homes - ie. for residential or holiday lettings. That has made buying second (and third, fourth, fifth etc) homes possible for 'regular' people, who can continue doing their normal 9-5 job whilst establishing a property portfolio on the side. It's kind of a self-sustaining cycle, because as more people buy-up property for 'investment' purposes, so the prices rise and so does the rental market which pays the investor's mortgages. And because the prices are rising so the investor can constantly re-mortgate his existing properties to raise more funds to buy more.They've been predicting for years that the market here will soon have a sharp 'correction', but it hasn't happened yet and the experts say that the market fundamentals are still sound. But, as Britain follows America in so many other respects, I suspect that the declines your market is going through at the moment might be hitting us soon. In the meantime, if anyone wants a holiday in a riverside cottage on the picturesque Norfolk Broads, let me know!Jeremy
A lot of realtors still think it will sell in a reasonable timeframe because it needs zero work or remodeling, is newer, and has the lake view, but they may just want the listing. I'm going to put it on the market as soon as the work is done and see if it sells. If it sells, then I can find a new house. If need be, I could probably live at one of those extended stay hotels for what my house costs me every month.
Do yourself a favor and look at the neighborhood now, and see how many houses are on the market by counting the for sale signs. You should take a look at the public records of home sales in the last few months. The first item will give you a good idea of what the "inventory" in your area currently is, and the second for how much the homes are selling. Compare the asking prices to the actual prices and you'll get an idea of the market.
Nice looking place you have there. When I get to England, I would like to try a barging trip. Looks like your government's policies to create/keep affordable housing works about as well as our's. As for comparing housing costs, the US is a very big place, so conditions and controlls really vary; a $1,000,000 house in San Fransisco would probably cost $250,000 in Houston.