Property - Page 2

bretonbanquet · #16 06-12-2006, 04:30 PM

Quote:

Originally Posted by DavidMn

It's the curse of a small land mass my friend.

Too true - a small land mass that everyone wants to come and live on!

Nowhere near enough houses here for everyone who wants one, and they can't build them fast enough - but then with more houses, they are wrecking the countryside, so it's not a good situation.

DavidMn · #17 06-12-2006, 04:30 PM

Quote:

Originally Posted by BTFLCHLD

I have a second home and I have never regretted it. If the plan is to keep it as a second home then, yes, be sure you can afford the maintenance costs on both homes. Have you thought about offering as a weekend/weekly rental? Sorry, but I do not recall your location. Is there a lot of activity on the lake?

Youve told me about your place. It sounds really nice.

AliceLover · #18 06-12-2006, 11:18 PM

My mom and dad purchased a cottage in Cape Cod before my sister and I were born. THey never have regretted it. We have a lot of land to build on so the property is worth a lot. I take my friends down there every summer. We belong to a private beach and its a really fun time. BEachin it all day, cookout, and jumping off bridges. My grandmother also owns a house on a lake in NH (WHICH I LOVE). The whole family goes up there every year a few times each summer.

seeker007nmss · #19 06-12-2006, 11:41 PM

Quote:

Originally Posted by skcin

You know it, baby! A lot of lakes here are pretty gross, but not literally deadly. I'd just like to prepare before I get typhoid or hepatitis, you know?

Go back at night and see if the lake "glows".

DavidMn · #20 06-13-2006, 12:01 PM

Quote:

Originally Posted by bretonbanquet

Too true - a small land mass that everyone wants to come and live on!

Nowhere near enough houses here for everyone who wants one, and they can't build them fast enough - but then with more houses, they are wrecking the countryside, so it's not a good situation.

I would imagine any type of decent place in London would be at least 500,000 or more to buy.?

bretonbanquet · #21 06-13-2006, 01:16 PM

Quote:

Originally Posted by DavidMn

I would imagine any type of decent place in London would be at least 500,000 or more to buy.?

Depends what you mean by decent, but... yeah

Then there's the taxes

DavidMn · #22 06-13-2006, 01:20 PM

Quote:

Originally Posted by bretonbanquet

Depends what you mean by decent, but... yeah

Then there's the taxes

Oh I can imagine. I heard texes there are quite outrageous on some things.

bretonbanquet · #23 06-13-2006, 01:36 PM

Quote:

Originally Posted by DavidMn

Oh I can imagine. I heard texes there are quite outrageous on some things.

Council Tax is one of the biggest ones - every homeowner pays it depending on the value of his house. The average in London is around £1150 ($2100) per house per year, and it goes up by around 4-5% every year.

Plus you'll have to pay to park your car outside your house - maybe £50 per year, plus it's £8 per day to drive into London - the congestion tax - they want you to use the bus or the train. It's an expensive business, living in London

DavidMn · #24 06-13-2006, 01:38 PM

Quote:

Originally Posted by bretonbanquet

Council Tax is one of the biggest ones - every homeowner pays it depending on the value of his house. The average in London is around £1150 ($2100) per house per year, and it goes up by around 4-5% every year.

Plus you'll have to pay to park your car outside your house - maybe £50 per year, plus it's £8 per day to drive into London - the congestion tax - they want you to use the bus or the train. It's an expensive business, living in London

What, no free parking?

bretonbanquet · #25 06-13-2006, 01:51 PM

Quote:

Originally Posted by DavidMn

What, no free parking?

Only on a Monopoly board... where you also go to prison on a regular basis

DavidMn · #26 06-13-2006, 01:55 PM

Quote:

Originally Posted by bretonbanquet

Only on a Monopoly board... where you also go to prison on a regular basis

Very true.

goldie · #27 06-13-2006, 05:40 PM

What you do, Paula, is find a fellow NY friend to go in with you on it and then you just alternate weeks at the place and share all the maintenance and what not! Deal? lol!!

sparky · #28 06-14-2006, 01:27 AM

Quote:

Originally Posted by skcin

Anyone here own extra property, or a cottage, or a summer home or anything like that?

There's a cute tiny little cottage I saw for sale and I'm seriously debating looking into buying it. It's about 45 minutes away, on a lake. I have to do further research regarding condition, location, etc.

But then I wonder - will it just be a big pain in the ass?

I know real estate almost always increases in value over time, but will it really be worth it?

Thoughts? Advice?

If its a deal, buy. Buy, buy buy. But then, I am a property addict.

irishgrl · #29 06-14-2006, 06:03 AM

I have a few things to add:

try and see the property at its worst, such as during a rainy season (which may be hard to do now that summer is coming) so you can see if there are any leaks etc

get yourself a real estate agent you TRUST and get THEM to find out about the property, how long its been on the market, what the hangups are etc...they know ALL the dirt about places and sometimes, even the dirt about the owners!

Take along a friend who is a contractor or handyman and do a walk thru of the place so they can spot the problem areas, and have that info handy when you sit down to bargain. maybe there's a reason the price is so low...if its been on the market a long time, I'd be wary. The old saw about "if it sounds too good to be true, it usually IS" is usually RIGHT.

guess Im the cautious type, eh

skcin · #30 06-14-2006, 09:17 AM

Quote:

Originally Posted by goldie

What you do, Paula, is find a fellow NY friend to go in with you on it and then you just alternate weeks at the place and share all the maintenance and what not! Deal? lol!!

Is that a hint, sweetie?

Quote:

Originally Posted by irishgrl

I have a few things to add:

try and see the property at its worst, such as during a rainy season (which may be hard to do now that summer is coming) so you can see if there are any leaks etc

get yourself a real estate agent you TRUST and get THEM to find out about the property, how long its been on the market, what the hangups are etc...they know ALL the dirt about places and sometimes, even the dirt about the owners!

Take along a friend who is a contractor or handyman and do a walk thru of the place so they can spot the problem areas, and have that info handy when you sit down to bargain. maybe there's a reason the price is so low...if its been on the market a long time, I'd be wary. The old saw about "if it sounds too good to be true, it usually IS" is usually RIGHT.

guess Im the cautious type, eh

It's not really all that low a price for the area. Real estate is mega cheap up here, esp. in rural areas. But I know what you mean. We bought our house (a real fixer upper)about 6 years ago, so we've been through it before. We may take a drive out there this weekend & check things out.