If you are thinking of buying this summer ....

jmt

I have been looking at buying since we sold a problem BTL property back in March. I have placed offers on a few properties, but they have been declined.

I am now going to wait until after the budget. If they start to drop, I will buy again, but in the meantime I have the cash in the bank and I may just decided to pay off my mortgages and be mortgage free, with a nice income from my tenants

JonnyBravo

neas wrote: »

Although in waiting these 2 years my property asking price dropped from 180k to 170k and my deposit rose about 20k...allowing me to get a good interest rate.

Although i know the window of opportunity for buying a house is in the next few months before interest rates Ramp ramp up .

Oh God.
What's worse than an ex-smoker?

An ex-bin lid banging frother joining the ranks of the "you'll miss the boat" crowd.

Which he'll now try and deny by saying "no, it's ok I expect house prices to go down".
Of course we all know nothing would eat him up more than that..... if only he'd waited.... oh the tortured soul....

neas

I do expect houses to go down.... whats so wrong with someone saying 'i wanted to buy'.. so i bought because i felt it was affordable for me. Its seperate from any discussions about house prices. What does it matter to you if i think house prices are to fall (we are both sooin to be property owners) maybe im wrong maybe im right.. but im entitled to think :-).

I am happy that you remember the ex bin lid banging frother .. I dont recall you from previous discussion though. i havent commented in this area for donkies . I can still see its a bitter battlefield of 'froth'

JonnyBravo

neas wrote: »

I do expect houses to go down.... whats so wrong with someone saying 'i wanted to buy'.. so i bought because i felt it was affordable for me. Its seperate from any discussions about house prices. What does it matter to you if i think house prices are to fall (we are both sooin to be property owners) maybe im wrong maybe im right.. but im entitled to think :-).

Absolutely. Think away.
It's just that it strikes me as amusing all the ex-bin lid banging frothers who have now bought are desperately telling all and sundry that it's ok they still expect prices to drop and they won't mind. What a load of ol' toss. You'll all be bitter as hell you waited for all but the last few months. Not that any of you will admit that. Your pride is fragile as it is having bought property at more than you (and admittedly I) thought you'd have to.

neas wrote: »

I am happy that you remember the ex bin lid banging frother .. I dont recall you from previous discussion though. i havent commented in this area for donkies . I can still see its a bitter battlefield of 'froth'

Bitter? It's only going to get more bitter with your once allies turning on you and frothing on you.

Anyhow, the bit I was really amused by was how certain of things you've become. Once it was house prices, now it's the "window of opportunity"

neas wrote: »

Although i know the window of opportunity for buying a house is in the next few months before interest rates Ramp ramp up .

So you're as certain of that as your predictions on house prices are you? You heard it here first renters..... get in quick before you miss your window of opportunity. Boats leaving now. So proclaims an ex-frother.
Tell me do you offer any 100% gaurantees??

lostinrates

JonnyBravo wrote: »

Absolutely. Think away.
It's just that it strikes me as amusing all the ex-bin lid banging frothers who have now bought are desperately telling all and sundry that it's ok they still expect prices to drop and they won't mind. What a load of ol' toss. You'll all be bitter as hell you waited for all but the last few months. Not that any of you will admit that. Your pride is fragile as it is having bought property at more than you (and admittedly I) thought you'd have to.


I can only speak for myself, and unlike many I have said through out we'd buy the right property for us, at the right price at any time. I think prices might well drop, but i don't expect our house would remain on the market while they did. Its hard to give accurate comparisons for less usual properties and prices, but we are content on this one. Its also a fixer upper, and while we don't expect to gain on doing it up (i.e. I expect having facility for sewage to ''add value'' but not more than we spend) we get to do things hw we want them without ''wasting'' what we hve paid for. Real fixer uppers are fewer and farther between now I think. DH LOVES this house and it offers more in the way of house than we had hoped for, without the need for profit making business to fund it...which is quite good for us really.

Only thing I'll be hesitant about is the decision not to buy a ''proper'' farm, but this has bonuses for me too.


Bitter? It's only going to get more bitter with your once allies turning on you and frothing on you.

Anyhow, the bit I was really amused by was how certain of things you've become. Once it was house prices, now it's the "window of opportunity"

I remain totally uncertain about the market, but as certain as its possible to be this house is a good one for us. I hope others feel the same

So you're as certain of that as your predictions on house prices are you? You heard it here first renters..... get in quick before you miss your window of opportunity. Boats leaving now. So proclaims an ex-frother.
Tell me do you offer any 100% gaurantees??

Only one guarantee.....that I'll be even more hesitant about moving in the future...its TOO exhausting to do for a hobby!

JonnyBravo

lostinrates wrote: »

Only one guarantee.....that I'll be even more hesitant about moving in the future...its TOO exhausting to do for a hobby!

I think moving as a hobby might prove expensive too!

lostinrates

JonnyBravo wrote: »

I think moving as a hobby might prove expensive too!

Yup. The SDLT, eve though we knew what it would be still seems :eek: written down. Everything about this is expensive.....I just can't see how moving often woul work out.

All in all, up until this point I'm glad we haven't been ''on the ladder''. To get our house a chain would have been a huge risk....we almost lost it as it was. I might have forgotten the pain by 2020....but I hope we won't want to move again. I think having the opportunity to build a dream house might still tempt us in the future, but moving might counter that:D

neas

Window of opportunity was my window . I want to start a family without renting away... building a family while working towards MFW and maybe trading up is where im going for. And yes i did slate people before.. but i sat down one day and worked out that with the deposit we had that it was 3.5x or so my income to buy a reasonable house (with a bit of luck and negotiation)... And so can forget about rising/falling house prices for 5 years at least.

JonnyBravo

neas wrote: »

Window of opportunity was my window . I want to start a family without renting away... building a family while working towards MFW and maybe trading up is where im going for. And yes i did slate people before.. but i sat down one day and worked out that with the deposit we had that it was 3.5x or so my income to buy a reasonable house (with a bit of luck and negotiation)... And so can forget about rising/falling house prices for 5 years at least.

Well I wish you the best of luck with it. Sounds like it'll be the making, quite literally, of your family.
Well done.

twadge_face

tyllwyd wrote: »

If you are thinking about buying a house this summer, are you waiting to see what comes in the emergency budget on 22 June before doing anything, or does that make no difference to you?

If you are waiting for the budget, do you expect it to make you more or less likely to go ahead with a purchase?

(Just curious! Estate agents are all saying that the market is quiet waiting for the budget so I wondered what the word on the street was!)

Went to see a place on election day, funnily enough on a bit of a random whim. Estate agent said things had been quiet leading up to the election.

Estate agents will come up with whatever spiel they can to justify quiet sales periods.

Apart from admitting that perhaps prices are too high for the majority of buyers, particularly first time buyers, LOL.