first time buyer help

k1984

Hi there,

This is my first post here after reading for a few weeks. i couldnt see this being posted before so here goes...

Im going to be a first time buyer soonish. I know the house prices are falling, but not falling dramaticaly in scotland. In fact according to bbc only about 3 % this year in the area im looking at (http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/regions/html/region12.stm) We're looking for a 2 bedroom flat/house in renfrewshire or the west end area and ideally a new build.

from peoples experience/opinions do you think the house prices will go down further in the next 6-8 months? is it a good time to buy? Ideally we'd prob only be staying in the same place for maybe 3-4 years before moving on when we start a family.

We have seen a few new builds at a fixed price at £130k but to be honest, i dont think they are worth £130k plus they have been struggling to sell them for a fair while.

do the house builders / estate agents stick at that price or do they tend budge? im looking for a bit of advice before we go and speak to them.

I know this may have been answered before and this post might sound ridiculous to some people but ima newbie.haha
thanks

wallacebob

I'm not usually downbeat, but....a friend who works in banking reckons it will get a lot worst next year. When the real costs of Christmas, and possible further job losses kicks in in late Jan/early Feb, it will be grim.
If you don't really have to make a move or it won't save you money, then don't do it. There will be plenty of houses left next year.
Speak to your lender before doing anything to see the costs, and get prior approval. Have as much deposit as possible. Ask on the house buying board too for advice.
If it does make financial sense then do it, but go in with low offers, they can only say no! Builders are needing to get some money in, so deals are there to be done. Get money off the price, not furniture or white goods for "free".
If you are in for the "long" term, at least 5 years, you should come out OK. But a house is really a home, not an investment. Good luck!