Thinking of buying or sit it out

muddypaws2807

Hi

I am now totally debt free apart form a £400 Visa Card for "just in Case".

I pay £550.00 per month in rent plus bills and would love to own my own house. I am not sure if I could go to a new build and make an offer, I know some near me and they are £175,000 but way out of my price range, I was looking at properties about £125k but just worried about the commitment being single and all that. Am I better to stay put and rent?

brit1234

I'm waiting a year before I start looking, Prices are already 13% below this time this year and on average falling 2% a month so we could be looking at a 40% drop by september.

I suggest sellers sell now at a discount or they are going to take a far bigger loss next september. All the Economic data suggests this is going to get a lot worse rather than better for the economy.

truman_sparks

def waiting.

TS

muddypaws2807

Thanks, thought as much, hoping to grab a bargain if thats possible

Cheers

simpywimpy

I would wait. The way things are going, owning is not the best prospect at the minute!

ad9898_3

Agree with everyone who has posted, think of it this way, without actually saving a penny, you are saving around 3k a month on an average house due to price falls at the moment, that 3k would turn into 6k to pay back on a mortgage and wait for it..... that 6k to pay back would be 9k before tax and national insurance that you would have to earn:eek:, thats a lot of cash , sit tight, the air is only escaping from the bubble slowly at the moment and the bubble is very very big