Need help with a newbuilt -east anglia

merlinexcalibur_2

to be honest..i am vey much tempted...at the same time I am sh** scared about interest rates going skyhigh and ending up repenting the decision

devon007

A house is only worth what a willing buyer and a willing seller are willing to agree on, whether market rises or falls.
There are pockets around the country which are actually improving at the moment.
I guess it all depends on how much you desperately want that house or whether you are prepared to lose it and carry on looking elsewhere.
As said previously, not all property is overpriced. The fact that these houses are now selling at near asking price does suggest that asking price is now more realistic for that particular region and the current market state.
I understand from talking to various local agents that the prime postcode indicator (which is one particular postcode in the UK which seems to lead the market in either rise or fall) is actually now showing a slight rise in both prices and first time buyers. The prime postcode indicator is usually the first place to start the ripple so I hope for all those selling that this particular postcode continues its improvement!

Wickedkitten

merlinexcalibur wrote: »

to be honest..i am vey much tempted...at the same time I am sh** scared about interest rates going skyhigh and ending up repenting the decision

You have a 20% deposit so you should get a pretty decent rate on a 5 year fixed. I would be a lot more worried about the depreciation on a new build to be honest.

merlinexcalibur_2

i totally agree with you sir...my main concern is whether to go for it or not.we may be able to afford it if we stretch a bit but what will happen 2-3 yrs down the line? guys at my office tell me about the times when interest rates went upto 17%...
i wish i could pay someone to to take decisions on my behalf and then if something goes wrong just fire him...:)
apart from all these, any idea about underfloor heating?

devon007

merlinexcalibur wrote: »

i totally agree with you sir...my main concern is whether to go for it or not.we may be able to afford it if we stretch a bit but what will happen 2-3 yrs down the line? guys at my office tell me about the times when interest rates went upto 17%...
i wish i could pay someone to to take decisions on my behalf and then if something goes wrong just fire him...:)
apart from all these, any idea about underfloor heating?

You did make me laugh - wouldn't we all like to have the "someone", blame them for everything that goes wrong
Seriously though re the underfloor heating - don't!!! My brother is a builder - had his own company for 40 years and refuses to instal it when asked as he reckons there is nothing on the market that is really good enough, it is too much hassle if there is a problem and the flooring has to be lifted, the new requirements re electrics and trip switches are a pain, and in general you are better off with a decent radiator - do you think he's got a strong opinion on the point

merlinexcalibur_2

i will agree with you even if your brother has just 20 years experience....one advice coming from experience is worth more than 100 people opining about what they think and what they think other people think and what they think other people oughtta think....:)

merlinexcalibur_2

thats my worry my friend..interest rates..... god only knows where theyll end up in 2-3 years