To buy or to save?

fimonkey

Well well well, THANK YOU everybody! I am wondering about those properties that have been hanging around for a while, but then seeing as it's coming up to Xmas I doubt very many ppl are looking to buy at this point, so would expect more properties to be hanging around. Am I right?

Lynxpower, = One thing I don't want to do is waste the time of estate agents etc, so didn't think it was OK for me to view these properties if I was only vaguely interested in buying. I was hoping to make friends with the local EA's if I decide to go ahead and buy, and didn't want a timewaster reputation. What are your views on this (everyone? EA's in particular).

I am VERY particular about the type of property I want, it would have to have 2 bedrooms and a reasonable sized garden! A couple of these have been coming up here and there every month for the past 4 months. I definately would not settle for less than what I want. (And no immensley tiny flats in the middle of someone elses garden thank you very much, Lynz you're right, it's been a huge issue down here as the demand for housing soars and the population continues to grow).

Snowdog, many thanks for the reply, Bf and I definately want to move in together, (prices to rent are cheaper than mortgages in this area at the moment for the kind of property I'm looking for - so perhaps another reason to rent and not buy). However bf is self employed, and I've had my fingers burnt in a serious relationship previously, so there's no way I'll consider a joint mortgage until he earns as much as I do and is on a more stable income. Wow I know that sounds harsh, I truly love him but think finances should never be mixed with emotions.

My own job is pretty secure. I have a background as a healthcare professional so can always fall back onto that. I have NO family to help me out whatsoever unfortunately, (though not going for the sympathy vote). And no major outgiongs whatsoever! (other than a 10K debt which will be paid off with inheritence leaving me with 20k).

Am beginning to lean towards the 'save and continue to rent' option, though am still open to others opinions,......

Thanks again so far.

fimonkey

Franklee, .... can you explain the significance of "Prices up a bit, volumes of sales down a lot, time on market up a lot" please? I get the time on the market a lot means there's no-one buying?? But what about the sales down a lot, is no-one selling either? Does that mean it's pretty stagnant down here then?

lynzpower

personally I think nosing round one or two (as long as they are not the same agent and you dont take the pi55) is fine. Go for the ones that are vacant, then the owners wont have had a big tidyup IYSWIM - should ease your conscience.

I had an idea that I want to buy a very certain type of flat, but I wouldnt aim for it without seeing one or two to check they are the sort of peoperties Id be happy living in. Eg all very nice saying "I want a newbuild apartment" but then having your AIP going off to view then realising that they are a bit pants, leaves your AIP nowhere and can impact on your credit rating.

It is a fine balance, my feeling is do your homework- but rtry not to pi55 anyone off.

Incidentally, do you know, or anyone know who is buying these houses-in-gardens- all over that part of the world? Personally I couldnt imagine anything worse.

fimonkey

Well in this region (or the limited few I've taken note of) it's mainly developers who buy the land, then offer the newbuilt house for sale on a shared ownership scheme.

A HUGE irritation in this area is developments that have age limits, for instance New Milton has a limit of under 35yrs old, what do they do when you get to 35?? There's also HEAPS of retirement flats all within my price range, but I'm 30 years too young!

btw, what's an AIP? I'm guessing it means 'arrangement in principle' and is the mortgage offer? Do you have to say what kind of property you want to buy when you apply for your AIP?

Cheers again

lynzpower

AIP- yes agreement in principle.

It restrits what mortgage you can get up to a certain point ( ie, the lender will lend you xk)

Some mortgages of course dont cover things like houseboats, auction properties.