Not your typical bet or at least not one that most people think of when it comes to betting. During a cold December in 2012 my partner and me decided to buy a new house. It was the worst house we could find in the nicest street. Close to a park, a cycle path into the city centre and in a cul de sac. Later it’s been great watching the kids play with others in the street without worry about through traffic.

At the time this was a big gamble due to job insecurity (well that’s not something that’s gone away!) which was a concern at the time.

Walking around the house I noticed that it was going to need a lot of work, it was going to be a tough job, time consuming, but it had real potential. Boy did I under estimate the time involved.

Why was this the right bet to make? I didn’t exactly have employers chasing me for a promotion at the time and it dawned on me my career aspirations where not panning out as hoped.

Knowing a bit about financial history the timing seemed right. A good investment for the money. Knowing that we are living through a period of monetary inflation I realised that land prices is where a lot of that money is going to end up. Living on a Island like the United Kingdom land for housing is always going to be in short supply with high demand.

Immigration has been a primary driver of UK housing demand and has helped with some of the countries demographic issues. Government policies have also encouraged demand for housing, including low mortgage rates and bouancy in monetary conditions.

As it happens, as currency units have been created the value of my land and house have gone up, much more so than I could have hoped for from wage inflation.

Unfortunate consequences of my decision to bet on rennovating a hosue are that my business opportunities seem to have suffered as a result, I won’t go into the details, but, anyone making a bet on rennovating real estate should consider this. Perhaps keep it under raps in some way especially if have clawed your way out of being part of the proletariat.

Let’s Comapare blog has created a new section for betting on housing with a special tilt towards housing rennovation. Speaking from experience topics discussed are intended to give you information which will prove to be indispensible. Helping readers save time, money, and grey hairs.

What if you are reading this and thinking; I don’t have a house, I am part of the proletariat and therefore I don’t have any money for a deposit, and I am at the behest of my employers. Furthermore, house prices are so high I can’t hope to be able to buy a property.

Your answer should be work hard, save some, save some more, make yourself useful to your employers, and wait for a good buying opportunity. Waiting for a good buying opportunity for your primary residence can be a curse because good buying opportunities don’t come round very often. If you are young you have an advantage over older folk. Older folk should do the descent thing and do a good deed for the day and whisper into the year of someone young that they should buy a property to live in as soon as possible. Canny buyers should wait for a good opportunity to buy therefore reaping the rewards of capital growth.

Watch this space.

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