Bears on the train?

lostinrates

OK which bear was on the train with DH telling him NOT to buy, under any circumstances.....:mad:

Malcolm.

Word on the street?

rewired.

carolt

Wasn't me. :silenced:

Good luck, lir.

fc123

lostinrates wrote: »

OK which bear was on the train with DH telling him NOT to buy, under any circumstances.....:mad:

Nooooo.............there's always someone with a view isn't there?:)

Tell him about the Brighton Hotelier I know who I bumped into in Asda yesterday.....selling for 2 million or something as is all super positive about the housing market.

In simplest terms, you buy now and win on IR's,...you wait and if IR's increase, ticket price may fall.......but works out same -ish either way over very long term...like 20 odd years....as you pay a higher IR at the start of the mortage.
Buying now may mean you get a few years at under 4% IR ?
Maybe,, Maybe?

mjgb bought and he got cold feet but exchanged last week I think....if a property is fairly unique and you can afford it......hard to call.

All I can say is to have a big wodge of deposit sitting ready could be tricky as inflation is kicking off now so the value could errode quite quickly?....all depends on whether houses are increasing at the same rate of inflation, less or a bit more.

PasturesNew

I'm a bear and I'd buy now if I found the right house. You can hold your views, but at the end of the day you have to put your stick in the ground somewhere and get on with your life sometimes.

If you find "the one", then timing isn't the only thing that's important.

PasturesNew

fc123 wrote: »

In simplest terms, you buy now and win on IR's,...you wait and if IR's increase, ticket price may fall.......but works out same -ish either way over very long term...like 20 odd years....as you pay a higher IR at the start of the mortage.
Buying now may mean you get a few years at under 4% IR ?
Maybe,, Maybe?

That is a poor person's view.... :P
There are loads of us cash buyers out there who won't be borrowing (unless I give in and raise a tiiiiiny mortgage on something I've spotted). I think it's £50/month interest only though, so hardly counts.

lostinrates

exactly, PN, thats what we said throughout.

This guy so is from here though...own up...other topics of conversation were Greece, and oil, and he is a profession well represented on this board.

DH saidhe looked a bit like Bruce willis. come on, I know you're here.....

PasturesNew

lostinrates wrote: »

...he is a profession well represented on this board.

Know it alls?

Davesnave

lostinrates wrote: »

DH saidhe looked a bit like Bruce willis. come on, I know you're here.....

Must've been mewbie; he dies harder than most!

Generali

fc123 wrote: »

...but works out same -ish either way over very long term...like 20 odd years....

This is the important bit. Any loss will be spread over the rest of your life and once you account for inflation and interest it will be tiny.

For example, if you buy a house for £2,000,000 for cash and sell in 25 years for the equivalent of £1,500,000 in real terms you'll've lost about £150,000 = £500/month. Assuming a 25% fall in real house prices over the next 25 years would be considered pretty punchy.

lostinrates

Thanks every one.
Its worth saying that the worry is not a long term one, in fact, I'm fairly confident ove this property that even relatively short term on sale price.....the issue is more...meeting the mortgage every month an the huge decision change...the scope fr income is very minimal..its a proper house, and the scope for expenditure is considerably less minimal....there are things that HAVE to be done immediately.

nyway, might all be academic, they might not like our bid.