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first time buying - is it a good time for us to buy?
Comments
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Willsnarf1983 wrote: »Umm How do i say this.....No !!!!!! sherlock!
But the OP was talking about a particular house that they wanted which is why i made a direct comment about the one house. If its the one then its the one!
Will
Elementary, if you look at the evidence, my dear Watson. Nowhere has the OP said that "it's the one". He just says that he and his g/f have found "a house".
I think he's asking for advice on the finances. What he actually says isi am just starting to wonder whether now is a good time to buy for a first timer? i am happy with the deal we have got with the house.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Note the same old people posting on every thread possible saying dont buy. These people appear to be a little twisted, if not burnt by the housing market.
If you are buying a house you can afford at a good price then now is no worse than any other time to buy. You could have bought 12 months ago and been told its a great time to buy... well looky now.
Don't take advise from people on a forum as to the decision to buy or not. If the house is right and the price is right then go for it...The Head Honcho (does very little work)0 -
mattwallisuk wrote: »If the house is right and the price is right then go for it...
The point is, the price isn't right.poppy100 -
moanymoany wrote: »READ THIS NOW!
does this apply only in England? :think:I got food in my belly and a license for my telly
And nothing's going to bring me down0 -
mattwallisuk wrote: »Note the same old people posting on every thread possible saying dont buy. These people appear to be a little twisted, if not burnt by the housing market.
Sigh. The other possibility is that I may just be trying to help people avoid a big mistake.No reliance should be placed on the above! Absolutely none, do you hear?0 -
I will be a first time buyer, and have been planning to buy around about August 2009 for about the last 2 years. I am currently saving and also a long term saving bond will mature in August 2009.
Currently we probably have around a £25,000 deposit and we should comfortably get that up £45,000 by August 2009.
Suitable properties at the moment cost around £200,000 to £220,000. I am hoping that these drop to within the £175,000 threshold by August 2009 (is that realistic?), when I can make the move and hopefully avoid the Stamp Duty at exactly the right time.
I've been tempted to buy earlier, but I am rigidly sticking to August 2009.MFW 2015 - #88 £3,345 / £3,500
MFW 2014 £2,990,MFW 2013 £7,905, MFW 2012 £12,216
Opening Mortgage Balance (15th July 2010): £200,999
Current Mortgage Balance(2nd July 2015): £150,999
Total overpayments to date: £30,292.00
Updated 19/05/20150 -
I suspect things will at least stabalise by august 09. So it wont be a bad time to buy, but I would say you may get more of a bargain slightly earlier than that date as people will be less desperate by then.The Head Honcho (does very little work)0
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I'm buying at the moment and don't think it's a particularly bad time to buy provding you intend to live in the house for 5 to 10 years. If you hang on another year it's true the prices might be lower, but it's also true that it might become even more difficult to get a mortgage.
We expect the house we are buying to drop in value over the next two years. But we then expect it to start going back up in the long term. For us we also have the issue that due to my age (40) we won't be able to get a 25 year mortgage if we leave it much longer.
I had a house in the last downturn, it halved in value but then went on to be worth far more than we had paid for it. House prices go up and down but historically always go up in the long term.
You should also buy a house as somewhere to live rather than an investment. In my case long term renting works out around the same cost as buying.0 -
Prices will be lower so obviously it'll be easier to get a mortgage if you have a deposit savedNorthants_Simon wrote: ». If you hang on another year it's true the prices might be lower, but it's also true that it might become even more difficult to get a mortgage.
.Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
ad44downey wrote: »Prices will be lower so obviously it'll be easier to get a mortgage if you have a deposit saved
Yes but there are more factors than this, the banks are finding it hard to raise money from the wholesale money markets which is affecting the mortgages out there.0
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