Doesnt anyone buy a property as a home anymore?

puddy

rather than just considering whether it will lose or gain money?

PasturesNew

I wonder that. And those that do seem to be wanting to move out within 1-2 years and let it out! ... so they can buy a 2nd one.

puddy

i mean call me old fashioned, i bought mine 12 years ago, its now for sale because i want to buy with my partner and move to the coast, then we plan to be there until we retire, in 20 years, then either stay there or move to our last property, yes it will gain and lose in that time, but its going to be our home

PasturesNew

jenner wrote: »

i mean call me old fashioned, i bought mine 12 years ago, its now for sale because i want to buy with my partner and move to the coast, then we plan to be there until we retire, in 20 years, then either stay there or move to our last property, yes it will gain and lose in that time, but its going to be our home

I thought I was going to be in my last house forever. Naive of me! That was at the seaside.

Which seaside are you looking at?

puddy

thanet, but because all the prices down there dont seem to be dropping like ive dropped mine (ive taken about 25% off my original price, which wasnt over priced - well i would say that wouldnt I?), im getting really depressed about what i'll be able to get, IF i ever get a buyer for this

GDB2222

Doesnt anyone buy a property as a home anymore?

Most people do, but it's a large purchase, so it makes sense not to pay over the odds. What's the problem? It's not meant to be a charitable exercise.

thanet, but because all the prices down there dont seem to be dropping like ive dropped mine (ive taken about 25% off my original price, which wasnt over priced - well i would say that wouldnt I?), im getting really depressed about what i'll be able to get, IF i ever get a buyer for this

Ah, that is the problem in this market. You're not really looking just to sell, buut to sell and buy at a reasonable price, all at the same time. If the other sellers aren't playing ball, then you may want to take a chance and just sell up where you are, then rent somewhere in Thanet until you can find a reasonably priced house there.

BTW, are you trading up/down/sideways pricewise?

puddy

in answer to your first question, its not a problem, i just see so many comments on here in relation to a possible home purchase where the comment seems more appropriate to decisions about stocks and shares, of course i can understand not paying over the odds, my thread was not a criticism of people who are being responsible, people should be, its just sometimes it comes across as so unhomely!

in answer to your second question, i have a few problems, i have a 10 year fixed rate mortgage that i dont want to give up and so ideally would need to sell and buy at the same time, or at the very leasst, sell and buy with only a 6 month gap in between in order to keep the mortgage.
i know that there is a possiblility that if i sold, then rented the money i would pay out in redemption fees (5k) would be offset by the amount that i would 'save' on a property, plus the possibility of getting a betteer interest rate (im currently on 4.99 and rates might continue to be low in 18 months time although i doubt it)
however, i have a problem with the thought of renting, plus i have cats and suspect that its my luck to get some cheat of a landlord who will use them as an excuse to keep my deposit, thats if i can get somewhere to rent to me with my cats, although i have read on here that it wouldnt be a problem.
so, at the moment, i am keeping to my plan to sell and then buy together, but i am open t the idea of renting IF i could find somewhere suitable and get my head round living in something which isnt mine to do with what i want

oh - im buying something cheaper to.....wait for it,,, pay off debts, so am worse off than if i was buying something more expensive in relative terms i think

Riq

No one wants to throw money away, especially considering how much you could lose on a house.

I would happily buy a home, if a) I could afford one & b) I could afford one in a nice area!! :

Rikki

I moved around a lot with my ex's job so when we had our first child we found and bought our first home. We divorced but after sixteen years this is still my home and I have no intention of leaving here. Its my children's home, the youngest was born here and its a place full of love.

Airwolf1

I think people still buy a home to live in, but there will probably be the thought of it losing value in the current climate. So they could pay £200,000 for it today, and in April/May 09 or sooner, it could be worth £190,000, as an example, so it may be a concern.

brit1234

jenner wrote: »

rather than just considering whether it will lose or gain money?

I'm buying for a home but money has to be an important issue. I believe it is important to wait for prices to crash to normal levels because finacially it will effect the quality of life of young individuals or couples who latter want to start families. People buying in 2007 or 2008 would of been burdened with such debt that it would be harder for them to improve their quality of live and have families. Smaller debt and cheaper houses means it is easier for people to move up the ladder to bigger properties or one of the partners to take time off while having children or looking after them.:think: