The Retirement Thread

[Deleted member 1258]

[QUOTE 5024960, member: 9609"]first house was 7k when I was 21, don't think we even bothered with a proper morgage, paid it off in under a year - I had my own wagon on the road and was probably bringing in 10k which was a touch more than top line down the pit at the time.
that very same house is now about 90k how many 21 year olds in manual work could even contemplate that now -


yeh but 0.5% I need it back up to a couple of points above inflation - don't want to have to go back out to work [/QUOTE]

Our youngest is in a council flat, can't earn enough to raise the deposit on a house, and probably would struggle to pay the mortgage if he did.

 

[Dirk]

[QUOTE 5024960, member: 9609"]....that very same house is now about 90k how many 21 year olds in manual work could even contemplate that now -
[/QUOTE]
Probably a lot, if they gave up their new cars, expensive holidays, nights out, fast food, fancy phones, expensive hobbies etc, etc.
When I bought my first house for £10500, I was earning about £3000 a year. The house price was 3.5 times my wage.
We didn't have a car for 5 years, had camping holidays on the motorbike. We had no furniture to start with; deck chairs in the lounge and an airbed to sleep on. We saved what little we could and gradually improved our lot.
The attitude is different today, everything has to be brand new and all at the same time. I've seen this with my nephew and niece - whinging about how hard things are for them, before they drive to the airport in her new VW Tiguan, or his new Vauxhall Mokka, to take another holiday in Australia or Switzerland. They cant afford to buy a house though.

 

[Paulus]

My first place was a 2 bedroom terraced cottage. Cost me and MrsP £26.500. We had to borrow £18000. At the time,1981, The interest rate was 16.5%. The mortgage payments at the time were £226 per month. I still have all the paperwork from the time.

 

[welsh dragon]

I have washed the dishes. made the bed. Done the hoovering. Done some dusting. I think that is enough for today, as i don't want to overdo it now, do I ?

Our first house was a 2 bedroomed corner semi detached house that cost £7,400 back in 1974. A straight repayment mortgage cost us £64.00 per month.
At that time, i could do a weeks shopping for the princely sum of £5.00 per week.

 

[BoldonLad]

Nostalgia.

My first buy (with Mrs BoldonLad Mk1) was a three bedroom semi detached, in 1968.

Cost us £3,800.

Deposit was £400, repayment mortgage over 25 years for the rest. Cannot remember exact monthly repayments, but, approximately £26/month.

At that time, my annual gross salary was £1000/year, and Mrs BoldonLad Mk1 was on Gross of £700/year.

We had few possessions. 3 piece suite, black and white TV, Bed, were new, everything else was secondhand.

We did have an elderly car (that is one car between us) which got us to work, most weekends and some evenings were spent visiting scrap yards and/or repairing it, to keep it going.

 

[Drago]

More work on the motorbike today. Started off freezing, half-hour later the sun was out and the sweat was dripping off me. I'm beginning to think The Day After Tomorrow is a documentary.

 

[Drago]

Result. Had a check up in MK with the shoulder surgeon, but the Hospital has phoned me to cancel because he's off sick.

So, a light post prandial snooze is in order.

 

[derrick]

Sorted my Wednesday ride out today, Got to get away from diy for a day.

 

[postman]

Retirement is deciding to go to your fave cafe in Otley,and have two lattes and an all day breakfast,it was wonderful,but i slipped off the healthy keep fit wagon.Never mind.

 

[petek]

First house I bought cost £23,000 freehold.
It was in Lancashire but I was stationed in Essex so went in to the local estate agents in Leigh on Sea about a mortgage.
Mortgage advisor chap says.." Sorry we can't lend you anything on this house because it will be a very short leasehold at that price." He was stunned when I told him that it was freehold. I got MIRAS tax relief on repayments as well, which was nice.

 

[Dirk]

Yay! I've just won a free carvery for two at my local. That's Sunday's lunch sorted.

 

[screenman]

My youngest just bought his first house and put £50,000 deposit on it he also kept some of his saving back for work on it as has a sensible size nest egg for security. He saved hard since he was 12 joined the fire service as a retained at 18 and went without much of social life, two years of full time topped the money right up as again he did not spend much, he sole extravagance was a 206 for £400 which he sold 5 years later for £895 and then a Toyota Corrola which again he had for 5 years, losing £2500 on that one he now has £8,000 worth of Mazda paid for of course. This unfortunately is what the average kids have to do to get on the ladder, most of his mates could not take that journey and may never end up owning.

My first house was £29,500 in 1981, not too much as we were in business and earning quite well by then. We could have gone more expensive and looking back maybe should have done so, but I did not want big debts.

Today was spent making sawdust.

 

[Dirk]

Been out for a ride this morning and took a couple of KoMs on the way back.
Not bad considering I've recently celebrated my 63rd birthday.

 

[screenman]

Been out for a ride this morning and took a couple of KoMs on the way back.
Not bad considering I've recently celebrated my 63rd birthday.

I am not sure electric assist counts.

 

[Dirk]

I am not sure electric assist counts.

I was on my Wilier flat bar hybrid.
I'd have blitzed them on my carbon Focus!