As a regular visitor to the Cheaney factory shop I can confirm the outstanding value and variety of styles available. I have over 10 pairs of Cheaney. Barry and the team there are very helpful. I recommend. Cheers Ash a worthwhile re visit .
I have nine pair of Church's shoes. I purchased them in Chicago many years ago before Prada. They are more than good enough for me. I paid under $300 for each pair back in the day. Maybe around $250. Of course, I have shoe trees in each pair and I rotate them.
Fantastic video as always Ash. Your previous factory shop visit video inspired me to do a bit of a tour of a few shops myself on a recent day off work (I covered Barker, Trickers, Church’s, Crockett and Cheaney) and I ended up walking away with 2 gorgeous pairs of Cheaney factory shop-exclusive pairs of boots. The additional pleasant surprise for me was Crockett and Jones - their factory shop is now open 6 days a week (10-4 Mon to Fri and 9-4 on Saturdays), just wanted to share that update here
Indosso da decenni scarpe inglesi delle migliori Marche Sono le migliori al mondo in assoluto per linea , solidità e qualita'. Video al top , come sempre . Un saluto dall' Italia.
Hi Ash, a highly informative introduction to real 'factory outlets' (as opposed to the commercialised factory outlets that are dotted throughout UK). I would find it very difficult to not dip into my wallet with some of the wonderful offerings that I espied in this video. You have certainly placed Edward Green on my radar although they are a tad above my normal buying range. I usually purchase at a more accessible price point being for Loake or Grenson (which are nearly double the retail price of UK here in Australia). Of course, for Chelsea style boots, it has to be RM Williams as our best local brand which are somewhat marked up in UK; but nothing like the exorbitant mark-up on British manufactured shoes here in Oz. I find myself sorely tempted to include a day in Northampton on my upcoming trip to UK. Carry on Sir ! :o)
I visited John Lobb awhile ago, but they had very little and everything was still rather expensive (£600 and up). Crockett & Jones and Tricker’s still have a very typical factory shop. I heard that Church’s also make some styles only for the outlet (that is Bicester Village). Those then sometimes find their way to the Northampton shop. Barker’s in Earl‘s Barton have a big factory store, but sometimes the damage to the brogueing is too noticeable I found.
I am now going to use the term "chapped up" from now on. If my wife asks me why I'm not ready yet, I'll say, "Wait a bit, I'm still getting chapped up."
Thanks for sharing your insights!! I would also visit every factory shop except Church’s. In my opinion all other brands you mentioned provide a better or the same quality for less money. - Church‘s last price hike was insane!!
A most enjoyable journey - and good to see there are some UK based shoe companies around that withstand the lure of manufacturing in the Far East. And a piece of good news: Alfred Sargent shoes that went bankrupt in the "pandemic" continue to make shoes under the name of "Paul Sargent".
Back in the 80's, Church's had a factory store in Darien, Connecticut (USA) which were less than half the NYC retail price. Then after it closed, I relied upon their duty free outlet in BA;s T4 at LHR. It too closed. So now I am an Allen Edmonds buyer, although I may have to make the pilgrimage to Northhampton. Great info, thank you sir.
I live in California, but went to Northamptonshire for business quite a few years back, right at the same time I was learning about all of the great heritage shoe brands. Sadly, my only free day to explore was a rainy Saturday (or maybe it was Sunday) and none of the factory shops were open. I did, however, visit the shoe museum in town which was a lot of fun. Great video as usual, Ash.
I bought a pair of Edward Greene shows last year on sale. They are so comfortable I can't express it! So well made! I have 3 or. If John Lobb but I think I like the Greene's better. Though I own 40 pairs of shoes ( mostly Allen Edmonds) I plan to buy one more pair of Greene's before I croak.
I recently got a pair of Church’s chukkas on eBay. Exceptional shoes I had no idea. Well worth the price for something you will pass down to your grandchildren.
Very interesting and informative video on shoe manufacturers and their factory outlets. I’d already thought of a day trip (from Armagh) over to some of these factories, and your video has tempted me to do it sooner rather than later. I’m predominantly a fan of Barker shoes - 7 pairs at the last count - but would like to explore the other options I’d encounter over there too. Thanks for all.
Watching the likes of Bedo's Leatherworks repairing good shoes and boots got me into starting a boot collection. I've tended towards Tricker's and Church's as they are England made, but have some Loake and Barker. I do want to visit the factories, to have a look round.
C&J and Trickers def deserve a mention here too, but with any of them..... you need a bit of luck! Been a few times and only come away with a single pair.
Cheers Ash, superb as usual. The Ede & Ravenscroft boots I mentioned turned up, very pleased. They are a 3 eyed brown/ redish beautiful leather closed channel boot. I'm pretty certain they are either made by Green or Cheaney.... they look a lot like the Cheaney Jackie 3... but have a lot of details in common with Green's offerings .... cartouche, high density neat welt stitching... and for 30 quid all in and fit like slippers!.. they need work, but that's my hobby. No effort,, not worth having is my motto lol Great that you are doing your bit for those of us with families and modest earnings who simply cannot justify spaffing a grand on shoes. Thank you.
The Cheaney shop in Desborough is truly brilliant and well worth the visit. I have never left disappointed, BUT you are unlikely to see their current website catalogue.
Church's are great shoes especially before Prada bought the company. I have an old pair and very satisfied. 3 pairs of cheaneys. But still eying for an Edward Greene or Crockett & Jones.
The Edward Green visit was very interesting, I was lucky enough to treat myself to a pair for my birthday and the shape, leather quality and finishing is in another league. They were made with care and love, and Ill treat them likewise!
😃 Love the video, Sir! I have a pair of light brown three buckled monk shoes from Jeffery West ($2 thrift shop). I first look how the sole is attached to the upper, to my surprise, Goodyear Welted! I believe they are worth over $300 (NZ).
The Edward Greene Dover (their split toe derby) is my dream shoe! I love the shape, elegance, and just slightly informal style. Sadly out of reach for me financially, though. I suspect that’s the reason they’re not as well known
Another great video, Ash. I am struggling to find a decent English shoe retailer in Bournemouth, so I may have to travel up North to some of these factory shops.
@@TheChapsGuide And Edward Green have a very good representative in Hilary Freeman, a very classy and well-spoken lady: ruclips.net/video/sjcvO5r_kY4/видео.html
Great video Ash. Thanks for your great work that informs us chaps. Are you able to advise on the opening times of the factory stores, in particular Edward Green?
I tip my hat at this informative video from the field. I tend to walk 10 miles a day dressed in chinos and sport coats. Can you recommend relatively comfortable boots from the likes of Loake, CJ, Grenson, Cheaney, Churchs et al so I can ditch the trainers and walking boots while I commute? Leather shoes I have previously used have been very challenging on my feet.
I would recommend a shoe/boot with a robust sole (Dainite or equivalent) which has a country-style last, which in turn allows the wearer a bit of extra space to wear a thicker sock. This will ensure the comfort is there, as well as the style. Cheaney have several models that fit this bill nicely, the Tenterden semi brogue being high on the list of good options: www.cheaney.co.uk/cheaney-tenterden-ii-r-derby-semi-brogue-in-mahogany-grain-leather-p1012
Leicester, innocuous, how very dare you Sir; Fred Perry polo shirts & leisure wear, Pantherella socks, Paul James knitwear, to name a few and, don't forget Melton Mowbray Pork Pie, Stilton Cheese & King Richard III.
Those goth shoes are not my style but they're still really nice. Better than what most people wear especially in America. I'd still be happy to see people wear at least those kinds of shoes. Wearing those shoes could lead you to more elegant styles later in life.
Good afternoon Chaps. I am looking at upgrading my work shoes. I have previously bought Samuel Windsor and Osmin Hyde but I haven’t been totally happy with the quality despite having Goodyear welt soles. I would struggle to afford the prices from the companies in this video. Do any of you have any experience of Charles Tyrwhitt shoes ? They are on sale for £150. Many thanks. Russ
I live in Northamptonshire borders, frequently visit the factory shop, although not been to Edward Green Bought from Cheaney, Crockett and Jones, Trickers, Loake, Jeffrey West, Barker's. But Churches are getting some horrific negative comments on Google reviews since Prada took over, dreadful quality and customer service
I was very surprised to hear that you were not familiar with Edward Green .. It is a quintessential English brand and very famous among shoe enthusiasts
Absolutely. Edward Green are the top of the game I own a few pairs and they are outstanding in comparison to some of the other Northampton brands , which have had quality issues recently in my opinion.. Great content 👍🏼
Church's bought Cheaney back in the 1960s. Cheaney spent most of their existence making shoes for other brands and under Church's ownership they mostly continued doing this. When Prada took over Church they didn't really value the Cheaney brand and when the Church cousins left Prada they then bought the Cheaney factory and brand from them. Then they started producing Cheaney shoes under the Cheaney name. It should be noted that Church shoes in 2022 had a massive price rise from around £600+ to £1,000 as part of the Prada brand repositioning. This has been a big failure, sales fell significantly and Church's lost a large amount of money last year. They are having to make significant job cuts. It should be noted that other Northampton shoe makers made modest profits or small losses after the big losses of the Covid years but Prada's strategy to recover profits has been a bit of a disaster and brands like C&J have profited from Church's lost sales.
What is your opinion of Clifford James Shoes .They seam inexpensive to buy but have Leather soles and Leather uppers .Has the firm gone out of Business? This talk of you get what you pay for is a bit to much .Who pays 1000 pounds for Shoes
Sadly they were of low quality and I understand that they went out of production a while ago. Aim for shoes that have a Goodyear welt and are made of good quality leather. Whilst £1000 is the elite level, I personally have never paid more than £250 for any shoes and usually obtain mine from ebay at a fraction of full price. There are many bargains to be located.
Honestly this content is not the best. I turned off after the first part where the price of shoes was revealed. Who has hundreds of pounds to spend on shoes in cost of living crisis hit UK? If I have a few hundred bob spare (unlikely!), its going on food, fuel, mortgage, or energy bills. Need a greater and more sustained focus on budget coiture.
You can save up, say, 200 GBP for a good pair of shoes (a factory second) that will last almost a lifetime, instead of spending 60 GBP on crap, that will go to the landfill in a year's time.
@@TheReubstar I would direct my attention to the shoemakers of the second row, like Barker, Grenson, Sanders and Loake. And don't forget to have a look at Charles Tyrwhitt, I don't think they have a factory outlet as they don't not manufacture shoes themselves, but they offer Goodyear welted shoes at really attractive prices. Their shoes are made by Loake. Hope that helps.
As a regular visitor to the Cheaney factory shop I can confirm the outstanding value and variety of styles available. I have over 10 pairs of Cheaney. Barry and the team there are very helpful. I recommend. Cheers Ash a worthwhile re visit .
I have nine pair of Church's shoes. I purchased them in Chicago many years ago before Prada. They are more than good enough for me. I paid under $300 for each pair back in the day. Maybe around $250. Of course, I have shoe trees in each pair and I rotate them.
Fantastic video as always Ash. Your previous factory shop visit video inspired me to do a bit of a tour of a few shops myself on a recent day off work (I covered Barker, Trickers, Church’s, Crockett and Cheaney) and I ended up walking away with 2 gorgeous pairs of Cheaney factory shop-exclusive pairs of boots. The additional pleasant surprise for me was Crockett and Jones - their factory shop is now open 6 days a week (10-4 Mon to Fri and 9-4 on Saturdays), just wanted to share that update here
Thanks for the update.
Indosso da decenni scarpe inglesi delle migliori Marche
Sono le migliori al mondo in assoluto per linea , solidità e qualita'.
Video al top , come sempre .
Un saluto dall' Italia.
Hi Ash, a highly informative introduction to real 'factory outlets' (as opposed to the commercialised factory outlets that are dotted throughout UK). I would find it very difficult to not dip into my wallet with some of the wonderful offerings that I espied in this video. You have certainly placed Edward Green on my radar although they are a tad above my normal buying range. I usually purchase at a more accessible price point being for Loake or Grenson (which are nearly double the retail price of UK here in Australia). Of course, for Chelsea style boots, it has to be RM Williams as our best local brand which are somewhat marked up in UK; but nothing like the exorbitant mark-up on British manufactured shoes here in Oz. I find myself sorely tempted to include a day in Northampton on my upcoming trip to UK.
Carry on Sir ! :o)
I visited John Lobb awhile ago, but they had very little and everything was still rather expensive (£600 and up). Crockett & Jones and Tricker’s still have a very typical factory shop. I heard that Church’s also make some styles only for the outlet (that is Bicester Village). Those then sometimes find their way to the Northampton shop. Barker’s in Earl‘s Barton have a big factory store, but sometimes the damage to the brogueing is too noticeable I found.
Thanks so much, Ash! Looking forward to going there someday when I'm next able to visit Britain!
I am now going to use the term "chapped up" from now on. If my wife asks me why I'm not ready yet, I'll say, "Wait a bit, I'm still getting chapped up."
I really like such type of videos where you show factory stores, Jermyn Street etc.
Ash, I really enjoyed this video. Please consider doing more of these bargin tips.
Thanks for sharing your insights!! I would also visit every factory shop except Church’s. In my opinion all other brands you mentioned provide a better or the same quality for less money. - Church‘s last price hike was insane!!
Double the price and quality going downhill
I love your shoe videos. Have to say that a factory Shop must look like a factory Shop. Not a boutique.🇿🇦🇿🇦
I am fortunate enough to be in driving distance of the Allen Edmunds Factory store. I do plan on visiting one day.
Edward green's sounds like heaven. 😊
Ash, great video. It's nice you have such great shoe companies with awesome outlets. Inspired me to drive to the clothing outlet near me. Cheers Ron
A most enjoyable journey - and good to see there are some UK based shoe companies around that withstand the lure of manufacturing in the Far East.
And a piece of good news: Alfred Sargent shoes that went bankrupt in the "pandemic" continue to make shoes under the name of "Paul Sargent".
Ed Greens are quality and class
Back in the 80's, Church's had a factory store in Darien, Connecticut (USA) which were less than half the NYC retail price. Then after it closed, I relied upon their duty free outlet in BA;s T4 at LHR. It too closed. So now I am an Allen Edmonds buyer, although I may have to make the pilgrimage to Northhampton. Great info, thank you sir.
I live in California, but went to Northamptonshire for business quite a few years back, right at the same time I was learning about all of the great heritage shoe brands. Sadly, my only free day to explore was a rainy Saturday (or maybe it was Sunday) and none of the factory shops were open. I did, however, visit the shoe museum in town which was a lot of fun. Great video as usual, Ash.
I bought a pair of Edward Greene shows last year on sale. They are so comfortable I can't express it! So well made! I have 3 or. If John Lobb but I think I like the Greene's better. Though I own 40 pairs of shoes ( mostly Allen Edmonds) I plan to buy one more pair of Greene's before I croak.
Thanks for sharing!!
I recently got a pair of Church’s chukkas on eBay. Exceptional shoes I had no idea. Well worth the price for something you will pass down to your grandchildren.
I've been wanting to see a video like this for a long time (I'm from Central Europe), thanks for your tour!
Glad you enjoyed it!
One to try on a future visit is Crown Northampton
Very interesting and informative video on shoe manufacturers and their factory outlets. I’d already thought of a day trip (from Armagh) over to some of these factories, and your video has tempted me to do it sooner rather than later. I’m predominantly a fan of Barker shoes - 7 pairs at the last count - but would like to explore the other options I’d encounter over there too. Thanks for all.
Ash thank you for another highly informative video I will use for future purchases.
Watching the likes of Bedo's Leatherworks repairing good shoes and boots got me into starting a boot collection. I've tended towards Tricker's and Church's as they are England made, but have some Loake and Barker. I do want to visit the factories, to have a look round.
C&J and Trickers def deserve a mention here too, but with any of them..... you need a bit of luck! Been a few times and only come away with a single pair.
What a lovely endorsement of the channel to meet a fellow Chap’s Guide follower! You must have been delighted!
Amazed and overjoyed to know my ramblings have had a positive effect on another pilgrim on the long road to chap nirvana
Absolutely - I followed your cologne video, and purchased some Acqua Di Palma - alongside 4711, it’s my new favourite cologne!
@@TheChapsGuide More than just ramblings, Ash! It was very delightful and an honour meeting you! Watching your video made my day.
Would love to visit those stores at some point.
Have to admit Ash as a jacket and tie man loved your ensemble in this vid and interesting vid too 👌
Great show ash
Very good video. Interesting.
Cheers Ash, superb as usual. The Ede & Ravenscroft boots I mentioned turned up, very pleased. They are a 3 eyed brown/ redish beautiful leather closed channel boot. I'm pretty certain they are either made by Green or Cheaney.... they look a lot like the Cheaney Jackie 3... but have a lot of details in common with Green's offerings .... cartouche, high density neat welt stitching... and for 30 quid all in and fit like slippers!.. they need work, but that's my hobby. No effort,, not worth having is my motto lol Great that you are doing your bit for those of us with families and modest earnings who simply cannot justify spaffing a grand on shoes. Thank you.
My pleasure
Great video and I’ve learnt of a few brands I was not aware of excellent 👍
Well I didnt know these outlets existed, will visit the Cheaney store, as I had my eye on a pair...thank you.
The Cheaney shop in Desborough is truly brilliant and well worth the visit. I have never left disappointed, BUT you are unlikely to see their current website catalogue.
Fabulous video. Very interesting and if I can somehow convince the wife the plane tickets pay for themselves it would be a trip in my future.
Church's are great shoes especially before Prada bought the company. I have an old pair and very satisfied. 3 pairs of cheaneys. But still eying for an Edward Greene or Crockett & Jones.
The Edward Green visit was very interesting, I was lucky enough to treat myself to a pair for my birthday and the shape, leather quality and finishing is in another league. They were made with care and love, and Ill treat them likewise!
😃 Love the video, Sir! I have a pair of light brown three buckled monk shoes from Jeffery West ($2 thrift shop). I first look how the sole is attached to the upper, to my surprise, Goodyear Welted! I believe they are worth over $300 (NZ).
The Edward Greene Dover (their split toe derby) is my dream shoe! I love the shape, elegance, and just slightly informal style. Sadly out of reach for me financially, though. I suspect that’s the reason they’re not as well known
Leicester, innocuous? Fair point. My first teaching job was in Leicester.
Another great video, Ash. I am struggling to find a decent English shoe retailer in Bournemouth, so I may have to travel up North to some of these factory shops.
very informative and interesting video
Great video Ash, loved the content 🙂
Looking forward to the bush crafting vids. Let’s get a fire going 🔥
Brilliant video Ash, thanks!
Which of the 4 brands do you like best, in terms of your own personal preference?
Cheaney has always been a favourite, but Edward Green are now an aspirational brand I’m aiming for!
@@TheChapsGuide And Edward Green have a very good representative in Hilary Freeman, a very classy and well-spoken lady: ruclips.net/video/sjcvO5r_kY4/видео.html
Great video Ash. Thanks for your great work that informs us chaps. Are you able to advise on the opening times of the factory stores, in particular Edward Green?
They are vary, worth checking their websites if you are planning a visit
I tip my hat at this informative video from the field. I tend to walk 10 miles a day dressed in chinos and sport coats. Can you recommend relatively comfortable boots from the likes of Loake, CJ, Grenson, Cheaney, Churchs et al so I can ditch the trainers and walking boots while I commute? Leather shoes I have previously used have been very challenging on my feet.
I would recommend a shoe/boot with a robust sole (Dainite or equivalent) which has a country-style last, which in turn allows the wearer a bit of extra space to wear a thicker sock. This will ensure the comfort is there, as well as the style. Cheaney have several models that fit this bill nicely, the Tenterden semi brogue being high on the list of good options: www.cheaney.co.uk/cheaney-tenterden-ii-r-derby-semi-brogue-in-mahogany-grain-leather-p1012
@@TheChapsGuide Much obliged sir
Leicester, innocuous, how very dare you Sir; Fred Perry polo shirts & leisure wear, Pantherella socks, Paul James knitwear, to name a few and, don't forget Melton Mowbray Pork Pie, Stilton Cheese & King Richard III.
Indeed sir - a most splendid city.
Great shoes! Jeremy West is a bit flashy for my style. The rest of the shown shoes are great!
Those goth shoes are not my style but they're still really nice. Better than what most people wear especially in America. I'd still be happy to see people wear at least those kinds of shoes. Wearing those shoes could lead you to more elegant styles later in life.
What a great video. Subbed.
Welcome!
Good afternoon Chaps.
I am looking at upgrading my work shoes. I have previously bought Samuel Windsor and Osmin Hyde but I haven’t been totally happy with the quality despite having Goodyear welt soles. I would struggle to afford the prices from the companies in this video. Do any of you have any experience of Charles Tyrwhitt shoes ? They are on sale for £150.
Many thanks.
Russ
I live in Northamptonshire borders, frequently visit the factory shop, although not been to Edward Green
Bought from Cheaney, Crockett and Jones, Trickers, Loake, Jeffrey West, Barker's. But Churches are getting some horrific negative comments on Google reviews since Prada took over, dreadful quality and customer service
I might have to check out the first one some day.
Odds that either of them would have my size?
I love jeffery west shoes! so comfortable, well made, decadent and stylish! (new sub btw :-))
I was very surprised to hear that you were not familiar with Edward Green .. It is a quintessential English brand and very famous among shoe enthusiasts
I’ve been to the EG factory. Fabulous products.
Absolutely. Edward Green are the top of the game I own a few pairs and they are outstanding in comparison to some of the other Northampton brands , which have had quality issues recently in my opinion.. Great content 👍🏼
The Mecca of shoes. Awesome
Churches shoes ... yum yum 😊
Hi thank you for useful information. Do you know that does George Cleverley have factory shop and sale? Thank you a lot
They do have periodic sales, but I don't think they have a factory shop as such I'm afraid.
Shoes the guide to your soul..
Cheaney sounds like a good solid British company...😊
Leon GTO plaza de piel is the shoe capital of the world.
PS: As an ex airman why do you perform an RN salute? From a current Aviator and fan. Per Ardua Ad Astra.
It is not intended as a military salute - more a friendly salutation. The open-palmed salute if far too formal for such a gesture.
Jeff west sounds like a good british success story..😊
Barker make Jeffery West shoes which is why it wasn't a factory that you visited 👍🏼
Shoes are like whisky you get what you pay for..😊
Church's bought Cheaney back in the 1960s.
Cheaney spent most of their existence making shoes for other brands and under Church's ownership they mostly continued doing this.
When Prada took over Church they didn't really value the Cheaney brand and when the Church cousins left Prada they then bought the Cheaney factory and brand from them.
Then they started producing Cheaney shoes under the Cheaney name.
It should be noted that Church shoes in 2022 had a massive price rise from around £600+ to £1,000 as part of the Prada brand repositioning.
This has been a big failure, sales fell significantly and Church's lost a large amount of money last year. They are having to make significant job cuts.
It should be noted that other Northampton shoe makers made modest profits or small losses after the big losses of the Covid years but Prada's strategy to recover profits has been a bit of a disaster and brands like C&J have profited from Church's lost sales.
Church's have dreadful Google reviews, the prices gone through the roof and quality questionable to say the least
What is your opinion of Clifford James Shoes .They seam inexpensive to buy but have Leather soles and Leather uppers .Has the firm gone out of Business? This talk of you get what you pay for is a bit to much .Who pays 1000 pounds for Shoes
Sadly they were of low quality and I understand that they went out of production a while ago. Aim for shoes that have a Goodyear welt and are made of good quality leather. Whilst £1000 is the elite level, I personally have never paid more than £250 for any shoes and usually obtain mine from ebay at a fraction of full price. There are many bargains to be located.
I have wide feet H and most of these brands are F only some also do G width s too no one seems to cater for us
I’m not sure this is intended, but sitting there in the foliage looks a bit Monty Python - ruclips.net/video/0hYZaqYCZyQ/видео.html
Spiffing.
Honestly this content is not the best. I turned off after the first part where the price of shoes was revealed. Who has hundreds of pounds to spend on shoes in cost of living crisis hit UK? If I have a few hundred bob spare (unlikely!), its going on food, fuel, mortgage, or energy bills. Need a greater and more sustained focus on budget coiture.
You can save up, say, 200 GBP for a good pair of shoes (a factory second) that will last almost a lifetime, instead of spending 60 GBP on crap, that will go to the landfill in a year's time.
@Adrian Walker Will look into factory seconds: do you have some recommendations re outlets?
@@TheReubstar I would direct my attention to the shoemakers of the second row, like Barker, Grenson, Sanders and Loake. And don't forget to have a look at Charles Tyrwhitt, I don't think they have a factory outlet as they don't not manufacture shoes themselves, but they offer Goodyear welted shoes at really attractive prices. Their shoes are made by Loake. Hope that helps.
And of course there's always Ebay. You can make really attractive bargains there!
@Adrian Walker Many, many thanks! I really appreciate your taking the time to get back to me with these suggestions and I'll follow them up asap.
Can keep em at that price unless you take out a mortgage.