We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Should I Buy? BBC News sowing doubts
Comments
-
we're in the process of buying, we can afford a 4-5% interest rate increase, its £50 a month more than renting it is and we have no plans to move on within 4-5 years anyway
the prices may fall, the prices may go up, the interest rate may go up, it may go down
All I know is I can afford the house we're buying, at this rate + another 4% (without too much stress) if I couldn't, I wouldn't be buying
Trying to get on top of finances one step at a time0 -
lightspeed wrote: »How much would 150K get you in London or the south in general?
It would just about buy my flat in Croydon - a fairly large 1-bed flat on the top floor of an Edwardian semi-detached house in the nicer part of the town. The basement one in the other half of the semi (smaller than this, no garden, nowhere near as much light) has just sold in about 8 weeks for £149,950 - but it's been tarted up inside, whereas this one still has a lot of its original 80s woodchip! (2 rooms down, 2 and the hall to go!)
Caz0 -
This is a FACT. INDISPUTABLE. If the OP is intending to stay in the house for the long term then he has absolutely nothing to worry about.
Go ahead and buy and stop worrying.
Really? Tell that to people in germany or japan. And, what is long term? 5 years? 10 years? 20 years? Who can predict what their housing needs are likely to be 10 years from now?0 -
-
I feel it is more likely that prices will fall rather than rise.
There is little room for further price rises - even if interest rates were 0%. The capital needs to be paid back.
Price falls could be 40 - 50%. However, with demand still high from a rising population I expect prises to fall only slightly, if at all.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
wisbech_lad wrote: »If you can only afford on an IO - you can't afford it. As others have said.
unless you get a lump sum bonus and pay off the capital0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards