Trading your farm in for a bigger model.

[Walterp]

Thanks Walter, it was my father in law that rented it since 64 and his and the mother in laws ashes scattered there so the wife is very happy at the moment. Me, I could have walked away and kept the money that was in the bank and not had the mortgage, I would though regret that every time I drove past the place!

Buyer's remorse works both ways - buy it (in my case, principally 'cos it made Julie happy) and you regret the exorbitant cost, don't buy it and you regret the things that you would have like to have done with the place.

I've come to the view that you can't judge the wisdom of a purchase/non-purchase for 5 years or so, by which time you can deploy hindsight to decide it for you.

[Walterp grimaces on checking his completion account and calls out: "Julie! Julie! Have you seen how much the [expletive deleted] Stamp Duty is these days!"]

 

[Roger Perry]

I guess that's some kind of U.K. tax thingy then Walter..?

 

[multi power]

Thats why I have just purchased my small place, way more than it's worth, but what the market demanded. It has been rented by the family since 1964 and the ashes of some have been scattered there, so what is emotional attachment worth? This land has not been sold since the 1800s and will probably now stay with my family way after my ashes have been scattered there.

well done

 

[Sussex Martin]

Thanks for the congratulations guys but I seem to have mixed feelings, going from a low rent to £1000 a month mortgage and an empty bank account doesn't feel much like a victory at the moment! But-----------------------------------

 

[rob1]

Thanks for the congratulations guys but I seem to have mixed feelings, going from a low rent to £1000 a month mortgage and an empty bank account doesn't feel much like a victory at the moment! But-----------------------------------

But at least you now control over your destiny and that is worth a lot

 

[Penmoel]

Thanks for the congratulations guys but I seem to have mixed feelings, going from a low rent to £1000 a month mortgage and an empty bank account doesn't feel much like a victory at the moment! But-----------------------------------

£1000 a month is a small price for peace of mind, remember there are people paying that and a lot more for a flat to live in, worse than that I bet there are plenty who read on here, paying far more than that per month for shiny bits of machinery which WILL rust away.

Good luck any way.

 

[Penmoel]

I guess that's some kind of U.K. tax thingy then Walter..?

Stamp Duty tax on property purchases

1% on purchases £150k-£249k
3% on £250-£500k
4% on purchases over £500k

 

[Penmoel]

Buyer's remorse works both ways - buy it (in my case, principally 'cos it made Julie happy) and you regret the exorbitant cost, don't buy it and you regret the things that you would have like to have done with the place.

I've come to the view that you can't judge the wisdom of a purchase/non-purchase for 5 years or so, by which time you can deploy hindsight to decide it for you.

quote]

First five years will no doubt be the hardest, after that you can move on or whatever.

 

[Baling Hay]

£1000 a month is a small price for peace of mind, remember there are people paying that and a lot more for a flat to live in, worse than that I bet there are plenty who read on here, paying far more than that per month for shiny bits of machinery which WILL rust away.

Good luck any way.

Agreed, I was offered a few jobs in London a while back and went to view flats. Rent was at least £1500 a month and they were tiny boxes in horrible areas! No car parking, had to pay £500 a year for a space in a multi storey 1 mile away! I couldn't stick the place and hence turned the jobs down, growing up in the country would make it difficult to live in the city. Most people complain they have no money down there even when they are on huge salaries simply due to the crazy price of rent! £1000 a month for YOUR OWN farm is good!

Well done! Pleased for you!