FTB - Are there any out there?

mrstinchcombe

Just a quick thread to see if there are any FTBs out there taking the plunge in this current climate, and whether you are worried buying in such a climate or excited that you are buying a place?

I am one anyway, offer accepted on a 3 bed house in Bristol, a lot off asking price and quite a lot less than what similar ones sold for in the same road at peak. Yes house prices more than likely have further to fall, but I feel I do have a cushion in terms of what I paid (althouh time will tell!)

ad9898_3

Some people can't put their life on hold forever, as long as you feel you got a good deal and payments are affordable it makes sense. I wouldn't buy now but then again I don't need to, I have security where I am so can ride things out for 18-24 months.

I hope things go well for you.

Phirefly

My best friend an his other half have started the proceedings of getting mortgage illustrations etc as they have set themselves the deadline of late next summer when their tennancy ends to buy their first home, and are starting to look after Christmas...

tangoedtiger

mrstinchcombe wrote: »

Just a quick thread to see if there are any FTBs out there taking the plunge in this current climate, and whether you are worried buying in such a climate or excited that you are buying a place?

I am one anyway, offer accepted on a 3 bed house in Bristol, a lot off asking price and quite a lot less than what similar ones sold for in the same road at peak. Yes house prices more than likely have further to fall, but I feel I do have a cushion in terms of what I paid (althouh time will tell!)

Do you mind me asking what percentage off you got from the max. it was marketed at?

I sold my house in August and just watching the market as lots of people are doing.

lostinrates

Hi Mr S, I was wondring how your purchase was going.

I think we are still potntial FTBs. I have to admit I'm going through a scared patch again.

wymondham

lostinrates wrote: »

I have to admit I'm going through a scared patch again.

That's your head ruling your heart .... long may it win!!

mrstinchcombe

lostinrates wrote: »

Hi Mr S, I was wondring how your purchase was going.

I think we are still potntial FTBs. I have to admit I'm going through a scared patch again.

Purchase is going fine so far, early days tho, thanks for asking. I had an offer accepted on a property a few weeks earlier which I pulled out of but I think this property is ideal for me.

Do you mind me asking what percentage off you got from the max. it was marketed at?

43%

Although original asking price was a little optimistic (although other properties on street had sold for that around that time)

tangoedtiger

43% Wow well done.

I'm hoping to buy next year but in the Peak District, as there is a lack of housing, the prices dont seem to be moving as fast as other areas

lostinrates

wymondham wrote: »

That's your head ruling your heart .... long may it win!!

But our bodies argue with the head, we need more SPACE.

wymondham

lostinrates wrote: »

But our bodies argue with the head, we need more SPACE.

.... hang on just a tad longer ......!!

lethal0r

im going to start looking at houses in march/april. I will buy when I get a minimum 30% reduction from peak prices.

im still at parents. im not putting my life on hold any longer, I should have been in my own house back in 2006.

i dont care if prices keep dropping after I buy, within reason obviously. if they dropped another 20% from my purchase price i'd be pretty gutted. but I should be in my own place, with my g/f & maybe thinking of kids soon.

well done on getting such a big discount, that is awesome.