So the premise is that people who have got homes and some money bid against folks who haven’t got homes, do the homes up and charge exorbitant rents to the people who couldn’t outbid them in the first place. Is this immoral, or what? Why is my license fee funding this **** with its smug presenters making seem OK? This is a rant.
Crackers isn't it. A mate of mine and his girlfriend are trying to get on the property ladder at the minute and have been outbid on a few properties where they've offered the asking price. Not only now do first time buyers have to save tens of thousands for a deposit, but also an amount so they can offer over the odds for a house. It's certainly a sellers/landlords market.
Not really. It’s just another ‘doing up property’ programme. Bid at auction, renovate the property and get a valuation to help decide whether to sell, rent or even live in it for a bit. Some people are buying their first property, others adding to a portfolio, and the properties vary wildly in value. Could be buying a property for the land, buying a large commercial building to split into flats etc etc. No one goes to auctions without funds in place, everyone’s got a different budget and those that get outbid don’t rent from the highest bidders.
In the early shows there did used to be the odd couple/ young person that wanted to buy it and do it up themselves. Plus it was a retirement home for ex footballers!
"Well Dion, our plan is to purchase the property, give it a coat of grey paint in every room and then have our tenants pay off the mortgage for us (plus a bit on top) whilst we also benefit from capital appreciation and the tenants just burn their cash every month." "Sounds lovely, hope it works out for you."
Sorry, should have said people like those they’ve had outbid. Kids are on the streets, can’t get on the housing ladder and this programme just, in my opinion, encourages it.
The ones who are “downsizing” get me every time. Without exception they view a house and come out with “Oh, it’s too small”.
Dion - Never a pen ... Away at Cov in 1997/8 season! Back on topic, I've not really got an issue with this as some houses really need to be bought by investors/builders to do them up as I suspect most people want to move into something reasonable from the off.
Encourages what? You do know that buying a property at auction doesn’t guarantee a profit? Or that letting a property doesn’t guarantee good tenants. For a bit of balance, there are also the nightmare type of programmes that show landlords having to take tenants to court to have them evicted after owing months of unpaid rent and/or leaving thousands of pounds worth of damage. Theres also the other one with Simon Obrien, which gives 2 people a budget and a timescale to flip a property. They don’t always succeed. I’d say ‘Bargain Hunt’ is the daftest, because people are trying to buy at retail and sell at auction, which is about as profit averse as you can get.
I know quite a few people who own more than one property and rent them out and people who buy houses just to flip for a profit. Not one of the ‘flippers’ are actively looking for properties as they feel there is no money currently in residential property and for the last 3 years have been focusing on commercial properties. Quite a few of the ‘private landlords’ are trying to sell properties as returns are not what they were.
Funny that, because the presenters always focus on the profit to be made. My first house was a terrace in Wombwell, no bathroom, outside toilet. I did it up to have somewhere for my family to live. It’s up to the landlord who they rent to and to come bleating because their nice little earner came unstuck is laughable. Houses should be for living in, not for chancers to make profit off working people’s backs.
You should be grateful you're not being asked to find a house in Gaza. That would be "Homes under the Hamas".
They might talk about profit on those programmes, but that’s nothing to do with rent. It’s in relation to doing up the property and selling it on, which isn’t without risk. They do discuss achievable monthly rental income, but that rent doesn’t go straight into their pockets as soon as a tenancy begins. Same costs apply. it’s a bit simplistic to suggest that anyone that becomes a landlord is guaranteed easy money from working people, and that all tenants are working, reliable and look after their properties as per their tenancy agreements.
