house buying strategy

Jamsyke

http://thescotsman.scotsman.com/index.cfm?id=563282006

This article is 5 months old and news like that may indicate that one has missed the boat but not necessarily.

At least with a new build you're buying at a negotiable fixed price, rather than having to go 25% over the asking price to beat off the competition.

mi-key

You say your current apartment has increased 30% in 4 years - thats pretty low compared to what house prices have done on average ???

Generally any first time buyer properties ( flats or very small houses ) are the ones that increase the least - mid size family homes are the ones that increase in price, and normally older ones, not new builds.

adr0ck

theres a general glut of apartments out there for rent and for sale

yet theres a massive undersupply of 4 + bedroom houses...not sure if this is an option

however if its the right apartment in the right location...it will still be a good investment

best of luck

Jamsyke

mi-key wrote:

You say your current apartment has increased 30% in 4 years - thats pretty low compared to what house prices have done on average ???

Generally any first time buyer properties ( flats or very small houses ) are the ones that increase the least - mid size family homes are the ones that increase in price, and normally older ones, not new builds.

Mine is a very small flat and yes 30% is a very modest increase, it could turn out to be more when I put it on the market. I'm guessing on the cautious side.

Older houses are the ones that *have* increased significantly so everyone is right, I've probably missed the boat there.
I can't afford a mid size family home or even an *old* apartment which are ridiculously priced in Edinburgh, that's why I think a new apartment is my best option if I find the right one at the right price