One of my previous entries into this blog stated that at some point towards the end of this year I would have, or would be in a position to buy a house. That very nearly happened a couple of weeks ago. A company running a new development near where I live were advertising free legal fees and your five percent deposit paid; basically it is a marketing ploy to get you to buy in the area and I was nearly caught. I viewed one of the apartments and even spoke to their financial advisor about arranging a mortgage, and then something inside me told me to cut this ‘opportunity’ loose.
A lot of people, when they have tough decisions to make draw up lists stating the pros and the con’s of whatever that decision is. In the case of buying this apartment (posh word for a flat in my book) the con’s seriously outweighed the pro’s; too expensive for what it is and where it is situated, lack of secure parking for the bike, interest rates on the up and the flat already being at the limit of my affordability etc etc etc. The only pro that I could think of was that it would be a place to call my own, but in fact even that was not true as it would belong to the bank for around thirty years and even then I would only own a box on someone else’s land! (The joys of leasehold) It is strange to think that a lot of ordinary folk in this country have been brainwashed into thinking that it is acceptable to be in debt to the tune of over A HUNDRED THOUSAND POUNDS or more, for something that in many cases is nothing more than a shoe box. Those of you that owe this kind of money, or more even, should just say the amount out loud. It’s frightening, and this isn’t even the amount you owe, as after interest has been added it comes out at a lot more!
I think that in this country we have become hung up on the idea of owning our own property. People see their houses as ways of making a fast buck rather than as a place to live. When I tell people that I live in a rented flat it is almost as if I am saying to them
‘Hi, my name is Pete and I am a second class citizen.’
‘What, you don’t even own your own home?’
‘No, but Barclays owns yours and at least I am not tied to a Mortgage’
A guy in the place where I work blames the current situation on Thatcher. Of course it is not hard to find anyone in the north-west willing to blame Thatcher for any of society’s current problems; however he does have a good point. That point is that in the eighties her government came up with a great plan for everyone in Britain to be able to afford their own home. A grand plan you may think, and very bold until you look at the main problem that blighted that Tory government; that is strikes. People sticking together to support their colleagues and create better working environments etc. If you live in a council house or private rented accommodation it is very difficult to boot you out for non payment of rent (which you don’t have the money for as you are on strike). If you ‘own’ your own home though and do not pay the mortgage then the banks will have you out and your house sold as quick as a flash. Weather this is right or wrong you would have to see that there is a point there.
Of course this could just be me being bitter at being priced out of the housing market by situations beyond my control, but in the meanwhile I am totally debt free and all the things I own belong to me and not the credit card people or some other financial institution and I have to say I have never been happier.
In conclusion then, what I thought I wanted was my own place, but what that would mean is a lifetime of debt, and debt is the one thing that I have spent the last 15 years trying to get out of. Therefore my previous entry stating that I would like to own a house can be scratched from the record until the prices in this country drop to a real, honest and fair level.
A lot of people, when they have tough decisions to make draw up lists stating the pros and the con’s of whatever that decision is. In the case of buying this apartment (posh word for a flat in my book) the con’s seriously outweighed the pro’s; too expensive for what it is and where it is situated, lack of secure parking for the bike, interest rates on the up and the flat already being at the limit of my affordability etc etc etc. The only pro that I could think of was that it would be a place to call my own, but in fact even that was not true as it would belong to the bank for around thirty years and even then I would only own a box on someone else’s land! (The joys of leasehold) It is strange to think that a lot of ordinary folk in this country have been brainwashed into thinking that it is acceptable to be in debt to the tune of over A HUNDRED THOUSAND POUNDS or more, for something that in many cases is nothing more than a shoe box. Those of you that owe this kind of money, or more even, should just say the amount out loud. It’s frightening, and this isn’t even the amount you owe, as after interest has been added it comes out at a lot more!
I think that in this country we have become hung up on the idea of owning our own property. People see their houses as ways of making a fast buck rather than as a place to live. When I tell people that I live in a rented flat it is almost as if I am saying to them
‘Hi, my name is Pete and I am a second class citizen.’
‘What, you don’t even own your own home?’
‘No, but Barclays owns yours and at least I am not tied to a Mortgage’
A guy in the place where I work blames the current situation on Thatcher. Of course it is not hard to find anyone in the north-west willing to blame Thatcher for any of society’s current problems; however he does have a good point. That point is that in the eighties her government came up with a great plan for everyone in Britain to be able to afford their own home. A grand plan you may think, and very bold until you look at the main problem that blighted that Tory government; that is strikes. People sticking together to support their colleagues and create better working environments etc. If you live in a council house or private rented accommodation it is very difficult to boot you out for non payment of rent (which you don’t have the money for as you are on strike). If you ‘own’ your own home though and do not pay the mortgage then the banks will have you out and your house sold as quick as a flash. Weather this is right or wrong you would have to see that there is a point there.
Of course this could just be me being bitter at being priced out of the housing market by situations beyond my control, but in the meanwhile I am totally debt free and all the things I own belong to me and not the credit card people or some other financial institution and I have to say I have never been happier.
In conclusion then, what I thought I wanted was my own place, but what that would mean is a lifetime of debt, and debt is the one thing that I have spent the last 15 years trying to get out of. Therefore my previous entry stating that I would like to own a house can be scratched from the record until the prices in this country drop to a real, honest and fair level.
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