Advice!

Christie22

Hi everyone,

Hoping someone can help.
I currently live in Luton, my bf lives in a village just outside of Luton but works in Milton Keynes. We are hoping to one day relocate to MK.
We both live at home with the rents and are aiming to move out by the end of the year.
We are saving a house deposit as we speak.. we were planning to save the deposit, move to Milton Keynes and rent for a few years to get to know the area because it seems a bit silly to buy a house there when we don't know wheres good and bad and even if were going to like it there (even though im sure we will.) The properties are quite a bit cheap there then they are here probably due to the fact we're on the commuter belt to London here. As fas as I can see property has dropped in price there quite a bit but ive also been tracking the prices of some on the villages here and they seem to have dropped by quite a bit more for example theres a set of houses which i love that were £195,000 and are now sitting at £160,000

Im thinking rather then move straight away to MK would we be better to buy a house like one of the 160ks perhaps one that needs some work sit on it a few years do it up then sell it on and move to MK where the properties are cheaper.. with a massive chunk to put down?

Any advice some be very much apprciated

Many thanks

Christie22

bump!!!!!!:D:D:D

silvercar

Live where you want to live. Property prices are falling, I expect the villages are cheaper for a reason.

geoffky

I think house prices will not be rising for years and years..we have just had the biggest boom in history it is not going to be followed by the shortest bust in history..

TEDDYRUKSPIN

Hmmmmm... history dictating itself? Really????? 1985 to 1992 houses were roughly very low only due to the way financial institutions would borrow money. Them days they would not even borrow money to people if they were not married. LOL. Come roughly the 90's, a major boom took place in the uk and the steady rise of house prices have taking place. 20 years later we now hit an exciting recession which was expected anyway.

Now, the question is how far will house prices dip? Is it worldwide? Regional?

The question is yours! People still buy. If you can afford it and understand that you might lose money or not. Houses were never mean't to be investments.

I believe it is sensible to rent for 6 months or so in MK until you actually understand the area. You will have plenty of time to look at decent properties then.

Only the both of you can answer this.