Advice on when to buy as a 1st time buyer please!

GSXRCarlos

phlash,

i (think) i agree entirely

The property i bought was repossessed, and for the right price, i want it as a home, but have also kept myself suitable detached from it - just in case

i won't pretend that i understand bear/bull, but i guess i'm in the middle, with bullish tendancies, hence my post above

i make these comments only to reitterate that property/home purchases are purely a self made decision, and should not be influence by others

so again, another usless post by me

by the way phlash, what have you bought? temporary house for the next few years?

not_loaded

firsttimebuyerz wrote: »

…GSXRCarlos, we are fortunate enough to have put together a 40 per cent deposit for the sort of thing we wish to buy. Yes, we've been advised on our monthly repayments and have calculated that we should be fine to meet them (in fact, we ought to be better off than we are renting).

My daughter ‘went for it’ and bought about a year ago. All in, she now pays far less on monthly outgoings than she was paying to rent.

To add to the above ‘longer term’ blip/no blip views; in the long term any % rise or fall will affect your next purchase, and similarly the money available to your buyer for his purchase, therefore there won’t really be a significant effect either way.

It’s being in it only for the short term that would mean a higher risk of course.

brit1234

I would hold off a few more months personally. The housing bubble has burst and all the stimulas suporting the recent rise till tlast months falls is over.

Have a look at this famous graph and ask where you think we are in the housing bubble.



We have just finished the bull trap bit I hope. With more property coming into the market and less buyers property is likely to fall faster over coming months.

phlash

GSXRCarlos wrote: »

phlash,

i (think) i agree entirely

The property i bought was repossessed, and for the right price, i want it as a home, but have also kept myself suitable detached from it - just in case

i won't pretend that i understand bear/bull, but i guess i'm in the middle, with bullish tendancies, hence my post above

i make these comments only to reitterate that property/home purchases are purely a self made decision, and should not be influence by others

so again, another usless post by me

by the way phlash, what have you bought? temporary house for the next few years?

Well I bought a bungalow, which I have subsequently renovated, (practically built from scratch) a HMO to rent out.

The investment was in the build job and rental business. Any capital growth is a bonus. Any capital loss takes out untouched build profits.