is this worth the price??

marcusrapid

I am keen on this house - its a good area and close to a good school and some good bars and cafes-

http://www.rightmove.co.uk/viewdetails-18355981.rsp?pa_n=1&tr_t=buy

As it is its above my budget of 180,000 but with whats happening with the market and current credit crunch is it worth holding out the dream?

any advice would be greatly received

many thanks

lincroft1710

£250K and man bathroom is straight off kit!!!!!!!! Would they reduce price by 28%? I don't know Swindon but I would have thought you could find something quite reasonable for your budget.

Deadman_2

Why dont you check http://www.propertysnake.co.uk/site/detail/4319722

this bad boy out?

marcusrapid

thanks good site - although property not listed

any other views?

Davesnave

Property Bee shows it has been on since 4th July with no price alterations.

Old Town is a desirable area, but I'm not au fait with Swindon prices. I'd expect a drop of 25%+ to be out of the question though. Personal experience selling in another desirable area not a million miles from Swindon leads me to think they'd have plenty of interest at around £220k.

Cat695

you can get just as nice properties in swindon for less surely??? why not buy one that needs a little doing up?? surely that makes more sense

Premier_2

Appears to be a property tarted up for a quick profit.

I doubt the seller would be prepared to sell for almost 30% below asking price, or anything near that kind of reduction.

marcusrapid

Does anyone think that this kind of property (not this exact one) will be available for my budget of around the 180,000 mark? not in the next couple months but maybe the end of year or next year?

I am a first time buyer, renting with 50% deposit.

SquatNow

marcusrapid wrote: »

Does anyone think that this kind of property (not this exact one) will be available for my budget of around the 180,000 mark? not in the next couple months but maybe the end of year or next year?

I am a first time buyer, renting with 50% deposit.

In a couple of years your 50% (£90k?) deposit should buy you a nice 2 bed semi outright.

Stick you cash somewhere safe... suggest NS&I and wait out the crash... it's going to be astronomical. In 9 months we've had falls equivilent to 75% of the total fall in the last crash... and it's only just begun.

Nothing is selling. The market is in literal freefall.

carolt

marcusrapid wrote: »

Does anyone think that this kind of property (not this exact one) will be available for my budget of around the 180,000 mark? not in the next couple months but maybe the end of year or next year?

I am a first time buyer, renting with 50% deposit.

Do you think property prices have another 30% to fall (well, 20% actually, as if it's on at 250K presumably he's expecting 225K now, as per national averages)? I do, but don't know your area well enough to say if your area would be atypical.

It's a gamble - no-one can read the future. It really depends on how much you want that particular property as opposed to other similars, how rarely they come up, what your plans are in terms of putting down roots etc, how you see your income progressing, how long you could live there, how secure your job is, how financially stretched you'd be, how much extra deposit you could save in the meantime, etc. - questions only you can answer.

For me, I'm more than happy to gamble that prices will fall that far; a good rule of thumb is comparing rental prices for that area with buying. If renting is still cheaper than an interest-only mortgage, then there seems little point buying (in purely financial terms anyway) at the moment. As even the most optimistic aren't suggesting prices are going to up very soon!

Read as much as you can on the subject and draw your own conclusions. Unlike others here, I'd recommend making a 'crazy' offer if you like the house enough; you've got nothing to lose, as you're not testing the water so you can get a bargain, you're offering all you can afford. The worst he can say is no, and if he dislikes you for it, who cares? You've not ruined a bargaining position as you're in no position to bargain.

Best of luck.

mewbie_2

The house seems to be a mid terrace house in Swindon for 250,000. Say it quick and it seems nothing in today's world. It's a QUARTER OF A MILLION POUNDS!!! In Swindon. For a mid terrace property. It's absolute madness.

What's the average wage in Swindon - 50k/75k/100k? No? I thought not. House prices are just coming off the most ridiculous price inflation in history. 50% off this would seem to be a more reasonable price.

How do I know? I don't know, but I do read. All the facts and predictions are out there, Britain is the worst positioned of all the silly inflated house price countries. You think America is bad. Britain will make it look like a picnic.