Is the lower-end of the market worth bothering with?

sparrowlung

I'm looking at buying a one bed flat in the Reading area at the moment and I have to say i'm wondering if it's even worth bothering because i'd be better off staying in the rented sector.

Flats in the 100,000-120,000 range are selling for little more than they did 1 to 2 years ago and I feel that investment buyers are really distorting the market. Also properties in this price range tend to have something not quite right about them like a low ceiling or very small bedroom. Any views on whether I should dive in or bide my time?.

sarah_elton

I'm with Al if you can push it.

I've pushed to my max. mortgage to get a 2-bed place. 1-bed would have been more comfortable financially, although I'm not on the poverty line by having 2.

1 beds where I live tend to be pretty small, and I would have felt like I'd outgrown the place very quickly. 2 beds seem to sell or rent out faster than 1's around here too.

If money does ever get tight or I want to save more, I have the option to rent out the spare room.

Property as an investment - no, not ideal right now by a long shot and that's not restricted to the bottom of the market. I personally think there'll be a long, long, flat market, rather than a huge crash. Least that's what I hope.

But I went rented to owned, and I love it. I can't stop redecorating. I love knowing no landlord can kick me out (so the bank can if I don't pay, but somehow it feels different). It's *mine* and that's a great feeling. I've done it for that reason, not to make money.

tomstickland

If you're not bored of waiting then I'd suggest waiting a bit longer.
I've just bought a 1 bed flat because I am bored of waiting, plus I think it's a nice flat for the money. I'm in the SW and it's cheaper here than Reading.

roswell

If you dont have to move and its not costing you more to rent then buy you may as well stay