Hidden repossessions

the_ash_and_the_oak

lostinrates wrote: »

Dunno, not long if its only ok:) only as long as it takes to get the one..perhaps the cliched 5 year plan? perhpas less.

(playing devil's advocate with myself over this really)

imo the longer you are planning to stay somewhere the less it matters. Buying somewhere w <5 year planned timeframe only makes sense to me if you think prices will rise during that particular timeframe

lostinrates

the_ash_and_the_oak wrote: »

imo the longer you are planning to stay somewhere the less it matters. Buying somewhere w <5 year planned timeframe only makes sense to me if you think prices will rise during that particular timeframe

Or stay more or less the same?

the_ash_and_the_oak

lostinrates wrote: »

Or stay more or less the same?

Depends!

Like if its cheaper where you are to buy than rent then prob yes. But if the rent is cheaper than mortgage interest then personally I don't really see the benefits in buying something that was going to be around the same price in 5 years imo (esp given buy/sell costs)

IveSeenTheLight

lostinrates wrote: »

Bump: I'm still interested in sme more bullish opinion and reasoning. Now or March? Now's budget, or March's?

I'm bullish on house prices (long term) but we have been saying there are likely falls over the winter.
For the sake of a few months, it therefore might be better for you to wait till March when your bargaining power both in terms of price negotiation and mortgage product availability might be better.

It's your decision though.

IveSeenTheLight

lostinrates wrote: »

Dunno, not long if its only ok:) only as long as it takes to get the one..perhaps the cliched 5 year plan? perhpas less.

(playing devil's advocate with myself over this really)

Over 5 years, buying now or in March I doubt will make much of a difference.

On your stability query, I think we are in for another year of stagnation.
after that I think it will be more likely for rises than falls

wintersunshine

Enfieldian wrote: »

1) If you are not actually looking to move at the moment why are you wasting your time, and the agent's, viewing houses?

She's missed the boat but doesn't want to admit it.....

lostinrates

I would imagine anyone viewing might have:

a: seen something at a good price in an area good enough to change plans for
b: be reevaluating options
c: have had a change of circumstances.

Why do people go in shops to browse? Some people love it! (I do but only some shops)

lostinrates

the_ash_and_the_oak wrote: »

Depends!

Like if its cheaper where you are to buy than rent then prob yes. But if the rent is cheaper than mortgage interest then personally I don't really see the benefits in buying something that was going to be around the same price in 5 years imo (esp given buy/sell costs)

well, its going to be more expensive: but anything will be. We pay strpage n our furniture and DH pays a low rent, which will continue. So if we were working on that basis we would NEVER buy!

On the other hand, it might also be income making for me: I will be ''working for home'' and would home to make up the difference in costs eventually...if we stayed a long time at a property.

the_ash_and_the_oak

lostinrates wrote: »

well, its going to be more expensive: but anything will be. We pay strpage n our furniture and DH pays a low rent, which will continue. So if we were working on that basis we would NEVER buy!

On the other hand, it might also be income making for me: I will be ''working for home'' and would home to make up the difference in costs eventually...if we stayed a long time at a property.

Thats kind of it in a nutshell for me. Going to be somewhere over a long timeframe then its got more plus points in buying for me - but for a time period as short as 5 years I'd need to be convinced I was going to come out ahead financially over at the end of the 5 year period to even consider buying, otherwise I'd just stay where I was and buy the "in 5 years time" place in 5 years time and not bother with this other one inbetween

lostinrates

the_ash_and_the_oak wrote: »

Thats kind of it in a nutshell for me. Going to be somewhere over a long timeframe then its got more plus points in buying for me - but for a time period as short as 5 years I'd need to be convinced I was going to come out ahead financially over at the end of the 5 year period to even consider buying, otherwise I'd just stay where I was and buy the "in 5 years time" place in 5 years time and not bother with this other one inbetween

Hmm. I agree with you...but, I think I'm a little older than you.

Our plan was totally to skip and rungs of the ladder: but we are now considering other options.

this is because: in the last six months or so lending has tightened for us: it too a while to filter through, e.g. at th start of this mess we could borrow about 8 times dh income on a normal residential mortgage, thats now reduced toabout 4.5 with that lender. Business lending has also reduced, but not by so much, and the type of property we are looking at has also reduced significantly, so actually we are seeing far better than we could a couple of years ago.


What we are looing for has changed, once, then again, a now one/both my parents would like to move with us/near us: ideally they want annexe accomodation.



As an aside, one thing we didn't go ahead with because we were told we would never get planning permission on, having gone to the expence of posing the question officially and meeting planning pople on the property, has, I found out just had planning permission for the current owner approved. Incidently he is a senior elected member of local government. I think this is very disillusioning.