Property: How the Other Half Live 

Thirsk in the sunshine, is there anywhere more lovely? We don't think so!
Thirsk in the sunshine, is there anywhere more lovely? We don’t think so!

There are two things that you may (or may not depending on how regularly you read the blog) know about me. Firstly, I live in Thirsk, North Yorkshire and secondly I am a properties tart. By properties tart I mean that I love to trawl through properties to buy and rent online, purely to nosy inside and see how the other half lives. This hobby or pastime if you can call it that started with looking at houses comparable to my own in size and location and now I like looking at the dream houses, the houses in different areas and the more unique properties. I know I’m not the only one who likes a good nosy on Rightmove!

My Pinterest boards also reflect the interior projects and designs I would enjoy if I owned one of the dream houses on my mental list (fairly modest ones) as well as those which I aim to do here at some point.

Living in rural-ish Thirsk (Think of James Herriot, the vet and Thirsk Races) we seem to have a fairly high property value compared to some areas. Rents and house prices appear to be at all all-time high and people are buying and selling fairly quickly. We’d always known in the past that if we moved areas that we could potentially get more for our money size and room-wise, although our house is far from shabby. The problem with that is that we don’t want to leave our lovely town and also, moving areas now wouldn’t necessarily offer the property upgrade it once would as the market seems to have evened out in many (but not all) areas.

Living near Harrogate and York, having excellent links with the North East and more Thirsk has always been fairly attractive for businesses and commuters yet retains its rural charm. What we didn’t realise but do now is that as expensive we feel our property prices are, they are nowhere near as high as some UK much sought after areas!

Realistically it depends on what you are looking for as PropertyRescue.co.uk state that the average (England and Wales) property prices stands at approximately £184,682. That’s ok if you want a two, maybe three bed semi up here (North) but what if you want to live how the other half live? I’m talking gated properties and key locations such as Chelsea or St John’s Wood (if I was to live in London it would be St John’s Wood).  Have a look to see what kind of price tag you could expect to pay for a swish pad in or around London for example. If you were to receive change from a million pounds (a million pounds!?) you would be fortunate it seems.

In real terms if I sold a property in one of those areas I could buy straight out four 3-4 bed really quite lovely  houses here. That’s a heck of a difference when put side by side. I think for now we’ll put off buying something in Kensington or Westminster as while many would pay the ultimate price for a three bed apartment there I am more than happy enjoying the rural, community feel of our lovely local area in my own three bed yet much cheaper house.

It makes you think though, doesn’t it? The grass may not necessarily be greener on the other side for us however it depends on who you are, what you want and how much you are willing to spend on a property to get exactly what you want. Thankfully we are very content for significantly less and are content to limit ourselves to browsing such properties online.

Would you like to live in one of those homes? Does the price make your eyes bulge like they do mine? I’d love to hear.

 

 

The Future of Buying Property in Thirsk

Today I’m talking about buying houses. Not me personally, I’m pondering more on mortgages and whether my area is a good place for first time buyers. Roy and I had a conversation about this the other day as at some point, presumably, the boys are going to leave home and want to set up on their own. Granted it might not be here in Thirsk (although I’d be chuffed if it was) yet if they did, I have to wonder what options will be available to them.

The housing market has been a mess for years although now the slump seems to be recovering, new affordable properties are being built and mortgages aren’t quite as difficult to obtain as they were.  You can check out the Halifax Mortgage Calculator for more info on this.

Back to Thirsk (my fabulous home town in North Yorkshire); is this a good place for first time buyers? At the moment it certainly seems so. Thirsk, which incorporates the parish of Sowerby where we are is a medium sized rural-“ish” location which is fairly central within the county and has excellent transport links. York is 20 minutes away by train, Teesside, Middlesbrough and the rest of the North is within easy reach and for families or for commuting to work there are endless possibilities.

We have a new building project starting here called the Sowerby Gateway which will be located on the edge of our parish and will include between 100 and 150 new houses. The idea is that this housing will be affordable and will fill a gap that exists at the moment which means that there are two few homes and too many people wanting to buy or even rent. Growing up here in Sowerby I am in the “I wish they wouldn’t build on like this” camp however having two boys I can see why extra housing is needed for the future if not for those in need now.

The boys moving  out and buying their first homes is a long way off however looking at how things are now it does seem as if they will be a better position than many of our generation or older have been when looking for a mortgage and a suitably priced property.

The financial sector recognises the need for more affordable mortgages and lower deposits and there are a range of options more suited to individual needs than there ever has been before. You could potentially set up a new bank account to quality for the best deals however in the long term I would say your loyalty would be based placed somewhere that would help you when needed anyhow!

We think Thirsk is a good place for first time buyers, excellent in fact although the most most affordable properties and best locations mean nothing without the backing and support from a banking establishment that is willing to go that extra mile to secure the mortgage you need. Fortunately more affordable mortgages and banks are on the ball these day and are able to work with potential buyers.

Altogether things are looking good and for the future, I don’t think the boys will have anything to worry about to be honest.

Halifax