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Would you buy now?
Julie_C
Posts: 6 Forumite
Would you buy a property now? I have a 25% deposit (just) but can't find an ideal property in the £250K range. Looking for a 3 bed in Cirencester and towns outside Reading.
I think prices will go down further 10-20% but I'm not sure I will get a mortgage next year based on this years accounts! Might be able to get a smaller mortgage on my partners salary alone.
My head hurts thinking about the best thing to do
It seems sellers are holding out for near asking prices as there are so few properties on the market!
I think prices will go down further 10-20% but I'm not sure I will get a mortgage next year based on this years accounts! Might be able to get a smaller mortgage on my partners salary alone.
My head hurts thinking about the best thing to do
It seems sellers are holding out for near asking prices as there are so few properties on the market!
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Comments
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Would you buy a property now? I have a 25% deposit (just) but can't find an ideal property in the £250K range. Looking for a 3 bed in Cirencester and towns outside Reading.
I think prices will go down further 10-20% but I'm not sure I will get a mortgage next year based on this years accounts! Might be able to get a smaller mortgage on my partners salary alone.
My head hurts thinking about the best thing to do
It seems sellers are holding out for near asking prices as there are so few properties on the market!
If you believe prices will fall another 10-20% then NO, now is not the right time to buy unless you can get that 10-20% knocked off now.0 -
I wouldn't. Anyway, the market's awash with reasonably-priced rentals at the moment0
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Hi Julie,
I sympathise! Like you I am wondering if prices will fall more... but i guess we could wonder all the way to the top!
Like you i have my 25% deposit sitting in the bank ( am buying something cheaper though) and can't find what we want at all. FTBs so may be being a bit unrealistic but hey we have saved for years - want to buy something we like!
Good luck- maybe September will bring a wider range on the market!0 -
Would you buy a property now? I have a 25% deposit (just) but can't find an ideal property in the £250K range. Looking for a 3 bed in Cirencester and towns outside Reading.
I think prices will go down further 10-20% but I'm not sure I will get a mortgage next year based on this years accounts! Might be able to get a smaller mortgage on my partners salary alone.
My head hurts thinking about the best thing to do
It seems sellers are holding out for near asking prices as there are so few properties on the market!
The answer of course is 'it depends'. I sold at the asking price, perhaps because the house was priced competitively already - no more than my neighbour paid in 2003.
Not every seller is realistic though so you just have to keep looking until you find something you like!For every complex problem there is an answer that is clear, simple and wrong.0 -
Hi Julie,
I sympathise! Like you I am wondering if prices will fall more... but i guess we could wonder all the way to the top!
Like you i have my 25% deposit sitting in the bank ( am buying something cheaper though) and can't find what we want at all. FTBs so may be being a bit unrealistic but hey we have saved for years - want to buy something we like!
Good luck- maybe September will bring a wider range on the market!
I've been saving/wanting to buy property since 2000, now need to get on the ladder with a 3 bed as I work from home... I am fussy but it has to be somewhere that I like, in a good area!
I've been told more properties should come on in Sept, here's hoping.0 -
House prices are still dropping but I am currently purchasing my first house as it is what I really want in the perfect location. Me and my partner will be living in the house for a long time as its a 3 bed and will not be moving.
House prices will probably fall but if you stay in the house for a long time they will recover and no loss will be incurred.
House prices are not likely to fall if there are few house on the market and people are paying the asking price for houses they want
Hoped this has helpedStarting Mortgage of £133,000 in DecWish me luckTarget £120,000 by 12/12/120
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