Discussion
Hello blokes and blokesses
I'm intending to get into a TVR this year, but my plans are coming unglued so thought I'd put this up for some sympathy and encouragement. Fat chance on PH perhaps but anyway, also some sanity checking on my planned course of action. So, wide open to abuse and insult, all in the name of fun.
I saw me first real Cerbera in '97, it was Damson with cream interior, parked up in Bath. At the time I was a pimply 18 year old with bumfluff on my face and I decided I wanted one. I spent the next 6 years studying and the following 12 years working, and now I'm on the cusp of satisfying my 3 economic tests:
1. Enough capital to buy outright (I don't 'do' finance if at all possible - in the words of D Coglan, I'm a worker, not a hustler)
2. Enough disposable income to support a monthly accumulator for maintenance
3. A house with suitable facilities to store and maintain it properly.
House purchase is planned before June, when child no. 2 arrives. Currently live in a 2 bed flat with kebside parking.
It looks like the mortgage repayments are going to be very tight, which is threatening the bork fund and makes me wonder about the wisdom of buying a Cerbera. It's what I want, but I don't want to end up with it laid up for 6 months because I can't afford the work. So I've come to 2 options:
1. Hold of buying for another 18-24 months while things settle down and the bork fund accumulates further - I worry that prices will continue to rise faster than my savings, and I'll miss the boat in the way people complain about in GG, re. 993 Porsche and E36 M3s.
2. Buy a Chimaera to get on the ladder, retain more savings as contingency up front, enjoy the lower risk of the Rover V8 and easier maintenance, hope it appreciates/holds value to the same extent as Cerberas and change out in 2 years.
FYI budget today is max 18k to include the contingency.
I'm intending to get into a TVR this year, but my plans are coming unglued so thought I'd put this up for some sympathy and encouragement. Fat chance on PH perhaps but anyway, also some sanity checking on my planned course of action. So, wide open to abuse and insult, all in the name of fun.
I saw me first real Cerbera in '97, it was Damson with cream interior, parked up in Bath. At the time I was a pimply 18 year old with bumfluff on my face and I decided I wanted one. I spent the next 6 years studying and the following 12 years working, and now I'm on the cusp of satisfying my 3 economic tests:
1. Enough capital to buy outright (I don't 'do' finance if at all possible - in the words of D Coglan, I'm a worker, not a hustler)
2. Enough disposable income to support a monthly accumulator for maintenance
3. A house with suitable facilities to store and maintain it properly.
House purchase is planned before June, when child no. 2 arrives. Currently live in a 2 bed flat with kebside parking.
It looks like the mortgage repayments are going to be very tight, which is threatening the bork fund and makes me wonder about the wisdom of buying a Cerbera. It's what I want, but I don't want to end up with it laid up for 6 months because I can't afford the work. So I've come to 2 options:
1. Hold of buying for another 18-24 months while things settle down and the bork fund accumulates further - I worry that prices will continue to rise faster than my savings, and I'll miss the boat in the way people complain about in GG, re. 993 Porsche and E36 M3s.
2. Buy a Chimaera to get on the ladder, retain more savings as contingency up front, enjoy the lower risk of the Rover V8 and easier maintenance, hope it appreciates/holds value to the same extent as Cerberas and change out in 2 years.
FYI budget today is max 18k to include the contingency.
Cheers 
You're dead right I'll see a cerb and still want one, but having the money 'banked' and hopefully holding value in line with the Cerbera is better than being progressively priced out. I have a real paranoia about that, perhaps I spend too long in Gen Gassing. I'm aware of the tendency for big bills, I've been on this pretty intently for the last 4 yrs or so and have done a lot of lurking... before that, I was under no illusions about the likely running costs. Plan A is to put £3-4k aside p.a. initially to generate a 6k repairs fund, then ease off, but under plan B this would be cut in half... however, I'd have around £3k up front to start me off with potential for that to rise quite a bit between now and next September.
Next September, Mrs 2gins maternity leave will end and she'll want to take a career break, so much of the costs will fall on my salary. The house will be a second home so we'll have rental income, but it still looks tight in the short term.
FInally, garage - yes, hopefully. Gated car port absolute minimum. But it adds £50-100k down here, madness! Never marry a London bird.
You're dead right I'll see a cerb and still want one, but having the money 'banked' and hopefully holding value in line with the Cerbera is better than being progressively priced out. I have a real paranoia about that, perhaps I spend too long in Gen Gassing. I'm aware of the tendency for big bills, I've been on this pretty intently for the last 4 yrs or so and have done a lot of lurking... before that, I was under no illusions about the likely running costs. Plan A is to put £3-4k aside p.a. initially to generate a 6k repairs fund, then ease off, but under plan B this would be cut in half... however, I'd have around £3k up front to start me off with potential for that to rise quite a bit between now and next September.
Next September, Mrs 2gins maternity leave will end and she'll want to take a career break, so much of the costs will fall on my salary. The house will be a second home so we'll have rental income, but it still looks tight in the short term.
FInally, garage - yes, hopefully. Gated car port absolute minimum. But it adds £50-100k down here, madness! Never marry a London bird.
Well, its been a long drag but finally we've got a purchase under way in a sensible location in the Thames Valley area that will leave us with rental income and leave me with a decent garage space and sufficient capital for the Cerb, provided prices don't do an E30. Finances will be a little tight the first year or so but once the other half goes back to work part time we'll be well set. I look forward to being a more active contributor here and will be along to the local meets once we exchange contracts and this all becomes reality!
Reading through this thread again it seems a long time ago I wrote the OP, but here we are a year on back in the same situation, when we least expected it.
We've looked at a lot of properties this year and the house hunt in total has been going on for 2 years now, longer if you count window shopping and speculative viewings. We have a file of estate agents brochures covering the area from Berkhampstead to Reading to Guildford and back to London, about 2 inches thick!
Finally we got an offer accepted on a nice little semi with a decent garage around Ascot in September; it should have been a done deal but the sellers have been a nightmare. Everything they've said about their position and intentions has turned out to be inaccurate or reversed, with the effect that as of last week, 3 months after the sale was agreed, we still had no movement and the mortgage application timed out. We haven't a hope of getting contracts exchanged before the deadline for school applications (our eldest starts in September 17), so we've had no choice but to pull out and stay put, where we have no space for a family of 4 but at least stand a good chance of getting into a decent state school.
So starts property search year 3, and so the Cerbera purchase goes in hold, again. Worse, Mrs 2gins has an option to tack a 12 month career break onto the end of her maternity leave, which means no house purchase until 2018 as we won't get a big enough mortgage on just the 1 salary. She's earned it, no problem there.
All this leaves me thinking about the most effective way in while still living here. I'll need a garage. I think about renting one nearby - a near neighbour we're on good terms with has a few within 1/2 a mile, having seen the way he maintains his houses (one next door is his, rented out) I expect they're decent. It would be a temporary thing for 18-24 months until we buy (perhaps after the market takes a Brexit beating - about the only silver lining I can see here).
Is this madness? What will I need? My list would be (i) secure locks (ii) power for the battery conditioner (dehumidifier too?) (iii) water would be nice; insurance will be higher and I had thought a tracker subscription might also be a wise investment. It's not a dodgy area but as I won't be able to check on it every day, I'm under the impression it would give extra peace of mind.
I'm just a bit morose at the moment and interested in opinions. I had this year down as the year it would happen, and I'm well gutted that it's all come apart because these daft people aren't moving. Remember - don't engage with stupid people! I've decided to join the TVRCC and start engaging with the club and social scene in the New Year, so, chin up etc.
We've looked at a lot of properties this year and the house hunt in total has been going on for 2 years now, longer if you count window shopping and speculative viewings. We have a file of estate agents brochures covering the area from Berkhampstead to Reading to Guildford and back to London, about 2 inches thick!
Finally we got an offer accepted on a nice little semi with a decent garage around Ascot in September; it should have been a done deal but the sellers have been a nightmare. Everything they've said about their position and intentions has turned out to be inaccurate or reversed, with the effect that as of last week, 3 months after the sale was agreed, we still had no movement and the mortgage application timed out. We haven't a hope of getting contracts exchanged before the deadline for school applications (our eldest starts in September 17), so we've had no choice but to pull out and stay put, where we have no space for a family of 4 but at least stand a good chance of getting into a decent state school.
So starts property search year 3, and so the Cerbera purchase goes in hold, again. Worse, Mrs 2gins has an option to tack a 12 month career break onto the end of her maternity leave, which means no house purchase until 2018 as we won't get a big enough mortgage on just the 1 salary. She's earned it, no problem there.
All this leaves me thinking about the most effective way in while still living here. I'll need a garage. I think about renting one nearby - a near neighbour we're on good terms with has a few within 1/2 a mile, having seen the way he maintains his houses (one next door is his, rented out) I expect they're decent. It would be a temporary thing for 18-24 months until we buy (perhaps after the market takes a Brexit beating - about the only silver lining I can see here).
Is this madness? What will I need? My list would be (i) secure locks (ii) power for the battery conditioner (dehumidifier too?) (iii) water would be nice; insurance will be higher and I had thought a tracker subscription might also be a wise investment. It's not a dodgy area but as I won't be able to check on it every day, I'm under the impression it would give extra peace of mind.
I'm just a bit morose at the moment and interested in opinions. I had this year down as the year it would happen, and I'm well gutted that it's all come apart because these daft people aren't moving. Remember - don't engage with stupid people! I've decided to join the TVRCC and start engaging with the club and social scene in the New Year, so, chin up etc.
Thanks for all this. North &east don't work as I have to get to slough for work and the mrs needs to get into Waterloo. We spent a long time looking in Marlow but the trains don't work.
On the street here is impossible, it's a narrow cul de sac with nose to tail parking down both sides. If I could evet find a space big enough for a Cerbera I'd never get it in as there's usually not enough room to swing the nose out to tuck the tail in, its enough of a pain kn the 9-3. Plus most other people get it wrong quite often!
It's TRVCC and rented garage time.
On the street here is impossible, it's a narrow cul de sac with nose to tail parking down both sides. If I could evet find a space big enough for a Cerbera I'd never get it in as there's usually not enough room to swing the nose out to tuck the tail in, its enough of a pain kn the 9-3. Plus most other people get it wrong quite often!
It's TRVCC and rented garage time.
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