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1 million pound house

 
#1 1 million pound house
13/02/2011 14:56

Batboy

How much do you realistically need to earn to buy a £1m house?

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#2 RE: 1 million pound house
13/02/2011 15:42

Robin to Batboy (#1)

A lot

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#3 RE: 1 million pound house
13/02/2011 17:58

Fury to Robin (#2)

Wondered the same about a 20 million euro boat. Can't have that with average partner salaries methinks.

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#4 RE: 1 million pound house
13/02/2011 23:10

IFA to Batboy (#1)

a 100K salry would do it as long as you have 700K saved up/equity in your last house.

The point is semi serious - equity is more important than income levels for most house purchases.

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#5 RE: 1 million pound house
14/02/2011 08:41

rc to IFA (#4)

also depends what other big ticket commitments you choose to make - if you put two or three kids through private school, which is a not uncommon choice, you can wave goodbye to the big mortgage that gets you the house..

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#6 RE: 1 million pound house
14/02/2011 14:05

Marcus to Batboy (#1)

£200k a year would be enough. However, you would be a fool to splash out this much if you were lucky enough to be earning at this level. Better to live well within your means than at the limit. I was earning so much I would put half my salary into my pension and look forward to earlier retirement.

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#7 RE: 1 million pound house
14/02/2011 14:07

Marcus to Batboy (#1)

£200k a year would be enough. However, you would be a fool to splash out this much if you were lucky enough to be earning at this level. Better to live well within your means than at the limit. I was earning so much I would put half my salary into my pension and look forward to earlier retirement.

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#8 RE: 1 million pound house
14/02/2011 14:09

IFA to Marcus (#7)

Marcus - no you wouldn't, cos you don't get to a 200K a year salary by having a risk profile that values putting half your dosh into a pension

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#9 RE: 1 million pound house
14/02/2011 14:30

One Great Consultant to IFA (#8)

You'd have to earn half of my quarterly bonus to buy it cash, but only if you get a new Range Rover Sport at the same time.

Did you know that I'm great?

I've just finished a major transformation in a multinational CTN chain, they wanted to a range of convenience products (Milk, Teabags, Dog Food) alongside their legacy lines (Fags and Porno Mags). I of course was the man for the job.

I was a little surprised by the weak Junior Analysts who fell by the wayside; they just can't do 120hours a week any more.

Anyway, very hard work for me, I had to go to the office twice last year.....

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#10 RE: 1 million pound house
14/02/2011 15:36

Cash for Gold!!!!!!!!! to Robin (#2)

If you can get one of them ace sub-prime mortgages, you could probably self-certify for a 1m mortgage on about 50k per year.

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#11 RE: 1 million pound house
16/02/2011 09:31

Anon66 to One Great Consultant (#9)

Meh - who needs 6 hours/day sleep? Loser!

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#12 RE: 1 million pound house
07/09/2012 18:42

Babbleboss to Anon66 (#11)

Sounds dodgy to me.... or a bad case of extreme poser in which indicate a psychopathic personality.

Other reason for needing a £1 million + property include:

- large meth lab

- cannabis farm

- illegal raves

- a house of illrepute

- front for some sting or con

- subletting for gang or immigrant labour

- breaking it up into flats and entering the slum landlord market

- irresponsible parenting - lots of "baby mothers" and looking to house them all in one location to minimise payments

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#13 RE: 1 million pound house
20/09/2012 10:53

TheHeadHunter to Babbleboss (#12)

Tbh I doubt you can buy a 'house' in central london for less than £1M.

Round where I am a 2 bed flat is about £400,000.

You would probs need to be earning a comfortable £100,000 per year I think otherwise you may as well move out of London.

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#14 RE: 1 million pound house
15/10/2012 15:07

Bushy Eyebrow Partner to TheHeadHunter (#13)

Your best bet is just to move out of London and get a "normal" job.

What's the point of working 60 hour weeks if all it buys you is a flat. You can get a 3 bed house up in Newcastle just for being a bum. And you get to stay home watching Jeremy Kyle all day, too.

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#15 RE: 1 million pound house
15/10/2012 16:47

presidentbartlet to Bushy Eyebrow Partner (#14)

Your best bet is just to move out of London and get a "normal" job.

What's the point of working 60 hour weeks if all it buys you is a flat. You can get a 3 bed house up in Newcastle just for being a bum. And you get to stay home watching Jeremy Kyle all day, too.

Disgraceful - homes under the hammer is the daytime TV of choice up here!

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#16 RE: 1 million pound house
16/10/2012 09:05

Bushy Eyebrow Partner to presidentbartlet (#15)

I like the ones with Beeny:

How To Make Your House Worth More

Help! My bra is falling down.

I Like Footballers.

etc.

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