Would you.....

sdfuk

sdfuk

sdfuk

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Joined
8 Jun 2004
Posts
960
Location
Essex
OK, my wife and I are in a position to buy a house. I'm fairly risk averse at the moment but the wife is desparate to "be in her own home" so would you

(a quick survey)

1) buy a house now
2) how long would you wait until purchasing

Cheers
S

ps I say 1) NO and 2) 2 years
 
If you have time to wait, then you can put in silly low offers as the market is falling a bit. No point rushing in unless you have to.
 
well, you will only suffer from negative equity if you do decide to sell during a recession. if can afford the mortgage and survive the possibility it might go up, then i would buy, better to have 2 years off your mortgage rather than paying someone elses. buy a house and stay in it, is the rule in the time of a possible recession.



rotters
 
It's a buyers market at the moment. You could get a hell of a property for a lot less then it was worth a year or two ago. However, buying means bills, and lots of them. Not just moving, but maintenance etc

I say yes, but make sure you have savings for that rainy day.
 
rent a great house at the moment (although pricey), very quiet location but last winter I had to put mastic around most of the windows as they were so useless (old metal frames which have buckled) and then put up secondary glazing. Basically, we're prepared to put up with that for location.
 
You are unsure so the answer is no. Until you feel comfortable with this choice (and it is a BIG choice) I would not do anything until fully happy with doing so.
 
sdfuk said:
rent a great house at the moment (although pricey), very quiet location but last winter I had to put mastic around most of the windows as they were so useless (old metal frames which have buckled) and then put up secondary glazing. Basically, we're prepared to put up with that for location.
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Thing is, renting can work out more expensive in the long run.
 
based on a 6-7% fall in prices since aug 2007 we've already saved money by renting so renting is a good choice at the moment so long as there is a continuing downward trend
 
No, I bought in November and I'm regretting it now. Wait until the market bottoms out then buy. It'll mean rent for a few more months but you could save thousands.
 
Cyanide said:
No, I bought in November and I'm regretting it now. Wait until the market bottoms out then buy. It'll mean rent for a few more months but you could save thousands.
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the thousands he will be paying in rent you mean?

If he already owned a home id say wait but as he doesnt then all he gains in waiting he looses in rent like he said the place he is renting isnt cheap
 
Cupra said:
the thousands he will be paying in rent you mean?

If he already owned a home id say wait but as he doesnt then all he gains in waiting he looses in rent like he said the place he is renting isnt cheap
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Depends how much the market drops though, 10% on a £140k house would pay the rent for quite a while.
 
I remember hearing a couple of years ago that house prices will continue to rise and then level out. Are they actually dropping now then?
 
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