3 ms·

"a big mortgage on a big house" Why?

• cs02rm0 12y ago
  Because he didn't have enough cash for a small mortgage?
  • christoph 12y ago
    Basically yes. I was buying a house in a small (but expensive) village that I had lived in for my whole life. I was getting married. We needed a house. All my friends and family live there. Its my home. Its easy commuting distance to my office, central London, Heathrow airport and has clean air, good schools, good amenities, good community and a canal to walk and cycle down every day I want to. I wasn't buying a house as an investment. I was buying a house as somewhere to live until I possibly die. By the time you take solicitors fees, stamp duty, etc in to account I may as well buy it for the long term. My house is already estimated to be worth 50k more than I paid for it less than 9 months ago. Why? I've fixed lots of easy problems with it, slightly modernised and I got a good deal as they were desperate for a sale, I had no chain and they needed the money (previous deal collapsed and they were on a bridging loan). I don't view it as an investment. I simply bought the house I wanted to live in, in the area I wanted to live in at a very competitive price.