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Tax Exempt
TimM:
--- Quote from: "ian_s" ---i bought a house earlier this year, at age 23
--- End quote ---
I think my house was 6 when I bought it :lol:
Seriously though, you won't regret buying - it sounds like you are saving money already, and you have the added benefit of it being yours (with no rules to follow!)
Just think of the capital growth if nothing else. :wink:
keithdixon:
Fully agree,
I bought my 1st one at the age of 18 (me not the house) and hell the mortgage payments were bad at the time, (the interest rate went up to something like 14-15% but as you said worth it.
Now have one in Ely, one in sutton bridge
Just must be hard for the young ones trying to get that step on the ladder.
ian_s:
it is hard, and i got really lucky with a house that was cosmetically a wreck, but structurally sound
i bought it for £77500, and the house 3 doors down has just sold for £109500 :)
altho i have spent about 5 grand on it
TimM:
--- Quote from: "ian_s" ---i bought it for £77500, and the house 3 doors down has just sold for £109500 :)
altho i have spent about 5 grand on it
--- End quote ---
Roughly: £110k less £78k less £5k spent = £27k, which is more than most people earn (and pay tax on!).
Welcome to the 'exciting' world of property ownership* :wink:
*Please nobody put him off with horror stories (yet :twisted: )
ian_s:
i know all the horror stories, dont worry
and yes, that is a sizeable profit :)
in 6 months :D
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