If you could afford to, would you buy a house now, or rent and wait?

niftythrifty_2

Just wondering what people's thoughts are....

canny_yorkshireman_2

looking at the fiquires out first time buyers are not shopping and mortgages are at their lowest lending so this tends to answer your question. Suspect the gloom predicted by some of the tabloids has not inspired confidence in the market. SO guess its a waiting game for now

mpsavuk

niftythrifty wrote:

Just wondering what people's thoughts are....

I'd advise anyone to rent for now. Just for a year.Makes more sense when rents are cheaper than mortgages. Plus you can rent a much nicer property than you could buy for the equivalent mortgage sum each month.

I rent a 2 bed place with Conservatory for £695pm. Mortgage for 2 bed round here would be around £900 pm + depending on deposit and mortgage rate.


Just save the difference every month towards a deposit when the time is right to buy.Prices are only going one way! (Clue- it's not up!)

Deemy

I would be content with earning interest on the cash mountain.

nelly_2

I can afford it and I am renting.

*Louise*

I suppose it depends on what area you are in. Up here it would cost £450 appros to rent, but my mortgage is only £300 (was before the housing 'boom')

Ideally, hold on to your cash for a while if its reasonable to rent where you are

IN_LIKE_EVERYONE_ELSE!

I am happy to rent, I am moving again in April, a simple process when you are renting, stuff in the removals wagon, kids and cats in the car, job done.

I am sitting on my cash and will buy when it stacks up.

First time buyers at lowest level for 25 years, significant news?

silvercar

I'm watching this thread with interest. I'm in a chain where the lower end of the chain is far more likely to go ahead than the wobbly people at the top.

In a couple of weeks I could be faced with the decison on whether to sell my house and rent for a while or refuse to sell and wait for another house to come on the market that we like (nothing on the market at the moment apart from the house we are going for).

Reasons to stay: I feel we are selling at a very reasonable (lowish) price and we had an offer the day we went on the market. In a few months we may get a higher and could hopefully sell just as quickly again. We really like our house. If we don't complete on a new place within 6 months of selling ours it will cost us £4,000 in redemption fees. There is the uncertainty of living in a temporary place. When will anything come on the market that we like.

Reasons to sell: we could pay rent from the interest on the equity we release on our current house. We would be in a good position should anything we like come on the market.

IN_LIKE_EVERYONE_ELSE!

I think position position position is the new location location location.

Canucklehead

Good afternoon: We have just accepted an offer on our house after 5 months on the market. We will be moving to another region but plan to rent for the time being and keep an eye on the market. When we are ready to buy our stash of cash will put us in an excellent position.

mummytofour

Buy, due to the fact that I have been homeless in the past and NEVER want to end up like that again, there is a lot to be said for owning your own home, peace of mind and knowing you will never (hopefully) loose the roof over your head./