Shall I wait

loulou41

I am looking to buy for my adults children, and I am not in a rush and can wait hopefully for the "house crash" I keep reading about lol. I am asking because I find it hard to believe everytime I see a house I like and it is already on offer. E.g I phoned the EA about a house for 300k on the market and he said, it is already under offer for nearly the asking price and he cannot say for how much. They all seem to go fast. Will it be worthwhile if I wait as hubby is very concerned in case he buys now and there is a house crash. Knowing our luck, it will happen as soon as we buy. The reason I am asking this, is everytime we sell our pep and shares, the prices go up and we have been waiting for ages for the right time. Thanks

irnbru_2

loulou41 wrote:

Will it be worthwhile if I wait as hubby is very concerned in case he buys now and there is a house crash.

How soon after you've bought the house are you planning to sell it?

PoorDave

loulou41 wrote:

I am looking to buy for my adults children, and I am not in a rush and can wait hopefully for the "house crash" I keep reading about lol. I am asking because I find it hard to believe everytime I see a house I like and it is already on offer. E.g I phoned the EA about a house for 300k on the market and he said, it is already under offer for nearly the asking price and he cannot say for how much. They all seem to go fast. Will it be worthwhile if I wait as hubby is very concerned in case he buys now and there is a house crash. Knowing our luck, it will happen as soon as we buy. The reason I am asking this, is everytime we sell our pep and shares, the prices go up and we have been waiting for ages for the right time. Thanks

A house price crash only affects those wishing to sell at that time.

Nobody really knows when/if there will be another one, now or soon, or in 2010!

If there is a crash and you've bought by then, the simple answer at that time is don't sell, because there will almost certainly be a recovery!

In a fast selling area you need to make sure you're registered with all the local EA's and make it clear you are ready to buy quickly (if that's the decision you make), which will be the case if you're chain free. EA's want to sell, and chain free buyers can be useful to make this happen.

FaTB

I'm personally gonna give it another year or two of hard saving, as I believe it will be alot clearer what direction the market is going by then.

The way I look at it is, it aint going up anymore.

Most FTB's priced out, Home owners cant move up the "ladder" as rungs have got too far apart, and BTL'ers are getting low yields, and no capital gains !!

Apart from the recent "spring blip" the market has slowly seized up over the last couple of years.

Also with the cost of living rising fast, rising unemployment, the threat of rising IR's and global recession, I just feel things must change soon.

Look at todays IMF report, tells a slightly different story to what Gordon Brown would have you believe !!

But thats just my gut feelings, I may be wrong.

Do some research, and make up your own mind.

meanmachine_2

loulou41 wrote:

Knowing our luck, it will happen as soon as we buy. The reason I am asking this, is everytime we sell our pep and shares, the prices go up and we have been waiting for ages for the right time. Thanks

If you *are* jinxed then please buy quickly, thus bringing on a crash and making housing affordable again! Really - you'd be doing your country a great service!

No, the advice is, if you can afford repayments at today's prices, then buy and forget about where the market is going.

The future direction of the market should only really be of keen interest to those of us staying out, hoping for a correction, or those on the other side who are gambling on rising prices.

Besides, a crash could take the form of a slow stagnation - so slow you might not even notice it!

nelly_2

Buy it.....................................

Ian_W

loulou41 wrote: I am asking because I find it hard to believe everytime I see a house I like and it is already on offer.

Obviously people around you are panic-buying, they obviously think there'll be a shortage when the crash comes.

Just keep reading housepricecrashwatch.co.uk, don't go out after dark and keep the lights on even when you go to bed with your head under the covers ... and you should be OK. As Peter Kay says, It's not the wardrobe monsters you should worry about ....