Cars vs Houses
Discussion
I think there's a big difference between being reckless and enjoying your life however you see fit whilst keeping half an eye on the future. Being reckless it could be said would be on 20k a year, living in a rented bed sit, no company pension, and spending every penny on a car. But if that person had a terminal illness, hardly reckless? Just an example. Everyone is different. Life isn't a Jamie Oliver recipe we all follow.
Some people toil away worrying about the never never. This magical future when we're old and grey. I've a mate who is breaking his nuts on a 35 year mortgage paying £1200 month and with 5 kids. I just hope he gets to enjoy this one day as listening to him, he doesn't seem to have much to show on a day to day enjoyment level, apart from a big house.
I used to drive ratty cars and worried about savings, this and that etc. But I've changed a little. It's not an unreasonable risk that you may not make it that far. Not to be morbid. I've taken the decision I'm not working my whole life ploughing through a stressful job and mortgaging up to the hilt for a wonderful run up to a silk lined box. I want a reasonable retirement and will settle with a reasonable house but instead of all my fun at the end at the cost of a life of toil and worry, I want it spread out throughout my life and take a sensible retirement, but without the world cruises perhaps. I wouldn't look good on a golf course anyway. Just don't forget to enjoy life along the way.
Some people toil away worrying about the never never. This magical future when we're old and grey. I've a mate who is breaking his nuts on a 35 year mortgage paying £1200 month and with 5 kids. I just hope he gets to enjoy this one day as listening to him, he doesn't seem to have much to show on a day to day enjoyment level, apart from a big house.
I used to drive ratty cars and worried about savings, this and that etc. But I've changed a little. It's not an unreasonable risk that you may not make it that far. Not to be morbid. I've taken the decision I'm not working my whole life ploughing through a stressful job and mortgaging up to the hilt for a wonderful run up to a silk lined box. I want a reasonable retirement and will settle with a reasonable house but instead of all my fun at the end at the cost of a life of toil and worry, I want it spread out throughout my life and take a sensible retirement, but without the world cruises perhaps. I wouldn't look good on a golf course anyway. Just don't forget to enjoy life along the way.
Edited by Buggyjam on Thursday 19th October 20:03
n12maser said:
Hunter S Thompson put it well:
"Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!"
A drug addled crazy man with plainly no responsibilities or thought regarding how this attitude may affect others in the process. "Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!"
Robbo66 said:
n12maser said:
Hunter S Thompson put it well:
"Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!"
A drug addled crazy man with plainly no responsibilities or thought regarding how this attitude may affect others in the process. "Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!"
n12maser said:
Hunter S Thompson put it well:
"Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!"
Absolutely +1"Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!"
I think also Daniel Craig as Bond said "One day your life will flash before your eyes. Make sure its worth watching"
I have nice house & very average to mediocre pension when i retire. But no way could I have paid cash for the last four cars i have enjoyed & owned. After two decades of Porsche's I have just plunged for a V8VS manual - on finance of course. i want to enjoy my life now not wait until I'am 70 & say "I wished I did that, I wished i did this".I'am late 50's & too often hear about friends who have croaked it early or had life changing medical problems etc. Like someone else said here i too don't want world cruises when i retire but want to experience & enjoy some great cars while I can.
Desert Dragon said:
Inspector Clueso you're slightly wide of the mark 
Both houses are in a postcode nr to Wembley worth approx £400,000 give or take £50,000.
I think you may be out some way. (Unless you give a postcode) The ropier end of the market for 4 beds in that area are £500k+ semi-decent 4 beds with off street parking you're talking £800k+Both houses are in a postcode nr to Wembley worth approx £400,000 give or take £50,000.
weebz said:
Desert Dragon said:
Inspector Clueso you're slightly wide of the mark
Both houses are in a postcode nr to Wembley worth approx £400,000 give or take £50,000.
I think you may be out some way. (Unless you give a postcode) The ropier end of the market for 4 beds in that area are £500k+ semi-decent 4 beds with off street parking you're talking £800k+Both houses are in a postcode nr to Wembley worth approx £400,000 give or take £50,000.
These are three bed semis changing hands for circa £400k-£450k. In the same area you can buy a detached 4-5 bed house for 600-£1m but you'd be nuts to in my book. Shytehole
Desert Dragon said:
weebz said:
Desert Dragon said:
Inspector Clueso you're slightly wide of the mark
Both houses are in a postcode nr to Wembley worth approx £400,000 give or take £50,000.
I think you may be out some way. (Unless you give a postcode) The ropier end of the market for 4 beds in that area are £500k+ semi-decent 4 beds with off street parking you're talking £800k+Both houses are in a postcode nr to Wembley worth approx £400,000 give or take £50,000.
These are three bed semis changing hands for circa £400k-£450k. In the same area you can buy a detached 4-5 bed house for 600-£1m but you'd be nuts to in my book. Shytehole
weebz said:
Fair enough understand, I live down in W5 and 1 beds start at around £400-420k
1 beds in London very desirable for obvious reasons. I'd take the 3 bed semi in average suburban London area for the same money A few years ago I found out people were paying £550,000 for 1 and 2 bed flats on my doorstep. Almost fell off my chair as seemed very poor value. Even more expensive now probably as 12 yrs or so on but housing mkt completely out of control in UK with dodgy overseas money buying up everything. I'd ban the feckers from buying in London then see what happens
Banning overseas buyers is a bit too extreme. Loads of countries hav overseas buyers and it does affect locals, in positive or negative ways. Example; Barcelona, us (Brits) still buy many properties to let (airbnb) and locals can't afford rent anymore. On the other hand, many small local business, cafes, retailers enjoying the seasonal vibe.
I just think more housing needed in U.K. on all levels, affordability-wise. London is still a great place, so people want to live here, why not? (as long as they do not land-bank I guess, and respect the law)
I just think more housing needed in U.K. on all levels, affordability-wise. London is still a great place, so people want to live here, why not? (as long as they do not land-bank I guess, and respect the law)
Visiting this section of the forum researching an impending purchase and thought id suggest an alternative scenario some of you have not considered.
Mum and Dad have come to this country and worked their buts off. Put every penny into property rather then popping to the pub, buying nice cars, going on nice hols, shopping in M&S, etc. Property prices and rental yields have rocketed and interest rates on their old BOE tracker B2L mortgages have headed to zero. They're just as loaded as the people you mention in the £2m mansion if not more. They may well own half the street.
Now from our perspective you'd think what the hell are they doing still living there. But they've lived a different life. They'd probably feel like a duck out of water. After 40 years of hard graft and little in the way of luxury/pass times they aren't going to join a country club and take up golf now. They are happy staying close to what they know, who they know.
In some cases all work and no play has rubbed off on junior and skewed his outlook on life. Maybe he's content to stick around and just wants the car he dreamed of as a kid. He's happy being close to where he grew up, with the friends that remain and feel the same. He's like his parents with the exception he grew up playing with a toy Lambo.
Or perhaps he's got the Prince Charles dilemma. The throne will be his one day, but he'll be an old fart by the time that time comes. Mum and Dad expect him to live with them (and they aint moving), look after them in old age and largely toe the line. He can't have the nice mansion, or the country club, etc. But he can have the £20k holidays and £200k car. Either because his income is entirely disposable as all the sensible stuff is taken care off, or because usually Mum persuades Dad to get him what he wants.
Not in that circumstance personally but see plenty of it around when I return to my old haunts
Mum and Dad have come to this country and worked their buts off. Put every penny into property rather then popping to the pub, buying nice cars, going on nice hols, shopping in M&S, etc. Property prices and rental yields have rocketed and interest rates on their old BOE tracker B2L mortgages have headed to zero. They're just as loaded as the people you mention in the £2m mansion if not more. They may well own half the street.
Now from our perspective you'd think what the hell are they doing still living there. But they've lived a different life. They'd probably feel like a duck out of water. After 40 years of hard graft and little in the way of luxury/pass times they aren't going to join a country club and take up golf now. They are happy staying close to what they know, who they know.
In some cases all work and no play has rubbed off on junior and skewed his outlook on life. Maybe he's content to stick around and just wants the car he dreamed of as a kid. He's happy being close to where he grew up, with the friends that remain and feel the same. He's like his parents with the exception he grew up playing with a toy Lambo.
Or perhaps he's got the Prince Charles dilemma. The throne will be his one day, but he'll be an old fart by the time that time comes. Mum and Dad expect him to live with them (and they aint moving), look after them in old age and largely toe the line. He can't have the nice mansion, or the country club, etc. But he can have the £20k holidays and £200k car. Either because his income is entirely disposable as all the sensible stuff is taken care off, or because usually Mum persuades Dad to get him what he wants.
Not in that circumstance personally but see plenty of it around when I return to my old haunts
Edited by 5to1 on Monday 23 October 00:45
Edited by 5to1 on Monday 23 October 00:46
5to1 said:
Mum and Dad have come to this country and worked their buts off. Put every penny into property rather then popping to the pub, buying nice cars, going on nice hols, shopping in M&S, etc. Property prices and rental yields have rocketed and interest rates on their old BOE tracker B2L mortgages have headed to zero. They're just as loaded as the people you mention in the £2m mansion if not more. They may well own half the street.
Now from our perspective you'd think what the hell are they doing still living there. But they've lived a different life. They'd probably feel like a duck out of water. After 40 years of hard graft and little in the way of luxury/pass times they aren't going to join a country club and take up golf now. They are happy staying close to what they know, who they know.
In some cases all work and no play has rubbed off on junior and skewed his outlook on life. Maybe he's content to stick around and just wants the car he dreamed of as a kid. He's happy being close to where he grew up, with the friends that remain and feel the same. He's like his parents with the exception he grew up playing with a toy Lambo.
Or perhaps he's got the Prince Charles dilemma. The throne will be his one day, but he'll be an old fart by the time that time comes. Mum and Dad expect him to live with them (and they aint moving), look after them in old age and largely toe the line. He can't have the nice mansion, or the country club, etc. But he can have the £20k holidays and £200k car. Either because his income is entirely disposable as all the sensible stuff is taken care off, or because usually Mum persuades Dad to get him what he wants.
Very much this. Old school mentality, know loads like this in the east end of London.Now from our perspective you'd think what the hell are they doing still living there. But they've lived a different life. They'd probably feel like a duck out of water. After 40 years of hard graft and little in the way of luxury/pass times they aren't going to join a country club and take up golf now. They are happy staying close to what they know, who they know.
In some cases all work and no play has rubbed off on junior and skewed his outlook on life. Maybe he's content to stick around and just wants the car he dreamed of as a kid. He's happy being close to where he grew up, with the friends that remain and feel the same. He's like his parents with the exception he grew up playing with a toy Lambo.
Or perhaps he's got the Prince Charles dilemma. The throne will be his one day, but he'll be an old fart by the time that time comes. Mum and Dad expect him to live with them (and they aint moving), look after them in old age and largely toe the line. He can't have the nice mansion, or the country club, etc. But he can have the £20k holidays and £200k car. Either because his income is entirely disposable as all the sensible stuff is taken care off, or because usually Mum persuades Dad to get him what he wants.
Edited by 5to1 on Monday 23 October 00:46
5to1 said:
Visiting this section of the forum researching an impending purchase and thought id suggest an alternative scenario some of you have not considered.
Mum and Dad have come to this country and worked their buts off. Put every penny into property rather then popping to the pub, buying nice cars, going on nice hols, shopping in M&S, etc. Property prices and rental yields have rocketed and interest rates on their old BOE tracker B2L mortgages have headed to zero. They're just as loaded as the people you mention in the £2m mansion if not more. They may well own half the street.
Now from our perspective you'd think what the hell are they doing still living there. But they've lived a different life. They'd probably feel like a duck out of water. After 40 years of hard graft and little in the way of luxury/pass times they aren't going to join a country club and take up golf now. They are happy staying close to what they know, who they know.
In some cases all work and no play has rubbed off on junior and skewed his outlook on life. Maybe he's content to stick around and just wants the car he dreamed of as a kid. He's happy being close to where he grew up, with the friends that remain and feel the same. He's like his parents with the exception he grew up playing with a toy Lambo.
Or perhaps he's got the Prince Charles dilemma. The throne will be his one day, but he'll be an old fart by the time that time comes. Mum and Dad expect him to live with them (and they aint moving), look after them in old age and largely toe the line. He can't have the nice mansion, or the country club, etc. But he can have the £20k holidays and £200k car. Either because his income is entirely disposable as all the sensible stuff is taken care off, or because usually Mum persuades Dad to get him what he wants.
Not in that circumstance personally but see plenty of it around when I return to my old haunts
I was going to suggest something similar, but you've put it better than I could.Mum and Dad have come to this country and worked their buts off. Put every penny into property rather then popping to the pub, buying nice cars, going on nice hols, shopping in M&S, etc. Property prices and rental yields have rocketed and interest rates on their old BOE tracker B2L mortgages have headed to zero. They're just as loaded as the people you mention in the £2m mansion if not more. They may well own half the street.
Now from our perspective you'd think what the hell are they doing still living there. But they've lived a different life. They'd probably feel like a duck out of water. After 40 years of hard graft and little in the way of luxury/pass times they aren't going to join a country club and take up golf now. They are happy staying close to what they know, who they know.
In some cases all work and no play has rubbed off on junior and skewed his outlook on life. Maybe he's content to stick around and just wants the car he dreamed of as a kid. He's happy being close to where he grew up, with the friends that remain and feel the same. He's like his parents with the exception he grew up playing with a toy Lambo.
Or perhaps he's got the Prince Charles dilemma. The throne will be his one day, but he'll be an old fart by the time that time comes. Mum and Dad expect him to live with them (and they aint moving), look after them in old age and largely toe the line. He can't have the nice mansion, or the country club, etc. But he can have the £20k holidays and £200k car. Either because his income is entirely disposable as all the sensible stuff is taken care off, or because usually Mum persuades Dad to get him what he wants.
Not in that circumstance personally but see plenty of it around when I return to my old haunts
Edited by 5to1 on Monday 23 October 00:45
Edited by 5to1 on Monday 23 October 00:46
I'll add something though. People were discussing what the monthly payments on these cars would be, if I were a betting man I'd say they've been bought outright without any finance.
People like this tend not to borrow money unless its to be used for investment purposes.
Deep said:
I was going to suggest something similar, but you've put it better than I could.
I'll add something though. People were discussing what the monthly payments on these cars would be, if I were a betting man I'd say they've been bought outright without any finance.
People like this tend not to borrow money unless its to be used for investment purposes.
Agreed. You get the "lower" end of this sort of thing, with hot Audi/BMW/Mercs in the drive, where finance is often involved. But would be very very surprised if theres any finance involved on the "heavy metal".I'll add something though. People were discussing what the monthly payments on these cars would be, if I were a betting man I'd say they've been bought outright without any finance.
People like this tend not to borrow money unless its to be used for investment purposes.
Also know of cases where the family have moved to leafier parts of town and parents aren't happy which invariably means they latch on to Jnr so he isn't happy. They tend to move back in short order. Ironically the house in Stoke Poges/Iver/etc is probably now rented by someone with a financed Fezza, financed hols, etc. Whilst these guys in the suburbs are swimming in it and pay for those things in cold hard cash.
NB:
I don't know the people pictured, not my neck of the woods. So their circumstances may be completely different.
Also I'm not looking down at these people (the parents) in fact I admire their sacrifice. In many cases they could have had a far cushier life if they'd stayed back home. Many will have had servants, land, property, etc. But the assets weren't growing fast enough to maintain the lifestyle for the next generation. So they've essentially sacrificed their entire lives, to give Jnr (and the grandkids) a better life.
Edited by 5to1 on Monday 23 October 12:56
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