not at all... i hope you make gains.. its those that buy multiple homes for buy to let because they are able to and make a fortune off those less fortunate that piss me off. but just because it pisses me off doesnt mean i am correct... i think i am though..
We have a major issue here at the minute that whole apartment blocks are being purchased off the plans same with housing estates they call them cuckoo funds where they come in and take other peoples homes
Here's my second home! This is about as far as I got before the virus stopped me. Those holes are 600mm dia and 4m deep!
Hmm, I will have to think long and hard on that... Paid £75k for it, worth approx. £550k,, errm errm.. no fuck it, take the money and run...
How about buying houses/cottages as holiday lets? Takes a home away from someone and provides profit for the owner.
Airbnb takes property from better locations a lot of holiday let's can be in more touristy spots , with the virus starting to impact airbnb the rental market seen a huge amount of property to rent in Dublin as no tourists coming !
fair play to ya.. there is a big difference between buying a property many years ago and seeing its value increases or buying a property and investing to realise its full potential to buying multiple properties on borrowed money solely to exploit certain people. it can be dressed up as a good business model but its just not... if ya thought process only extends as far as capitalising offa someone else's misfortune then you should probably take a good look at yaself... not you duke dad!!! unless you are a land baron!
Out of curiosity why would you think everyone is out capitalize on someone's misfortune I have property I bought for no other reason other than a pension there value is 100% irrelevant I'll not be selling them there to give me a good quality life should I retire ? This is my genuine reason and I used savings to purchase and a mortgage to find the rest there paid for in 3 years ! And most importantly I fucking hate them there God awful drama and I have great long term tennants. Not looking for row just not all landlords are big business !
I had a second house for 10 years - was left 1/4 of it in a will from an Auntie - bought the other family members out with a mortgage and rented it to a bloke from work who had moved down from one of our Scottish Factories (not a Whisky Distillery but a factory in Scotchfinmshireland) . after the 10 years he wanted to buy it with his girlfriend as he loved the house, so I sold it to him for below market value and started my bike collection
what made it necessary for you to buy a second home to rent out? did your imagination only stretch so far that a rental property was the only way forward? as you said earlier there is a housing crisis but you can own 2 or 3 or 10... why? because you can? does that make it right?
Bought them 17 years ago for a future pension and we had no supply issues then, and just because you don't like it that doesn't make it wrong either , burst my balls to get them no inheritance or hand outs I'm a hands on grafter so I wanted not to be doing it when I'm 60, I've a pension too problem with that is its been wiped out twice in 22 year's and I'm sure this will be no 3 with the virus so property gives me a steady income that I burst my balls while I'm young to pay for so I can take it easier as I get older? You seem to think that I might have an alterior motive? Other than providing for my future
the village I moved to 17 years ago had two pubs, a shop, a nursery and a school. we put a bid in on 4 separate homes, 3 are now holiday homes. it now only has a school, which is under threat of closure. i think I am right in saying a third of Skye's houses are now holiday lets. but there is pro's to go with those cons. tradesmen do particularly well, as these houses are built or maintained. the Mrs, gets plenty work looking after them too. land ownership, and their reluctance to let it go is an issue. one of the disappointments from the land reform bill we had go through, tho our Gov has in fairness been v,good in supporting community buyouts. the economy of the UK is so lopsided the old gripe of selling yer shed in London buys you an acre with a 5 bedroomed house in the north is true. and they do. so you end up with a country full of old sods, moving north for the way of life then stifling any local development, double that up with EU nationals moving away who worked in many of the industries the Coast and Country provides. planning permission is regularly proposed for our village for 30-40home developments, only to be stopped after they get together to form a "committee". its gone well beyond a joke.
