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Debate House Prices
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FTB's lead "market boom".
Comments
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As a potential FTB I currently have no fear of rising prices, I am not expecting any massive falls either but I am not going to rush out and buy tommorrow due to fear.
As it is we do have a plan B, currently we are saving our deposit and will get there soon enough which is plan A, but there is a few family members who are willing to boost our deposit if things do start getting silly again which is of course plan B. Plan B is far from ideal and the temptation is there just to do it anyway and buy sooner, but we have come this far so a little longer and not owing money to family is the best option.
the fact you worry realistically about plan B, and have a contingency plan, means you do not have "no fear" about prices rising. In fact you "do" have a fear about prices rising since you have considered a plan B. You will be left behind by all the people who cannot afford a plan B (no family to bail them out), they are getting in while they can afford to before they look back and regret it. Hence pushing you probably into making plan B happen.Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
I have said the same thing before as I know people who bought during the boom because after seeing all the scare stories in the press about being priced out forever they got scared and rushed out to get themselves a new build before they were all snapped up, consequently keeping the boom going.
I think the housing Market would be completely different if the media and banks stopped printing stories and house price averages.
Totally agree... its not scaremongering, its just ridiculous journalism.
Why oh Why would they print, 10% price rises predicted until 2020... seriously who ever believes it all?? lolPlan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
This article is interesting... ive been posting this on the forum for the last month or two... no one listens to me!...
You guys have got to stop looking at numbers that are 3-4 months out of date, and look to the future, speak to people ... its all happening out there, people really are beginning to BUY. Activity is the key, prices can be reducing but if there is ACTIVITY, ... it gets a whole lot more interesting.
Nope nobodys buying round my way, and if you lived round my way and had bought your first house last august then you will have wasted quite a few quid.0 -
the fact you worry realistically about plan B, and have a contingency plan, means you do not have "no fear" about prices rising. In fact you "do" have a fear about prices rising since you have considered a plan B. You will be left behind by all the people who cannot afford a plan B (no family to bail them out), they are getting in while they can afford to before they look back and regret it. Hence pushing you probably into making plan B happen.
Good point, I will say there is some doubt as we are still looking at another year, I will say plan B has been more presented to us rather than us seeking it, but yes if things do start to look worrying I will be looking into exactly what is on offer there. As I say it will take a hell of a push for us to take plan B as I don't expect to be bailed, with that it would take a lot for me to priced out now, it would be more if it made massive financial sense.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Good point, I will say there is some doubt as we are still looking at another year, I will say plan B has been more presented to us rather than us seeking it, but yes if things do start to look worrying I will be looking into exactly what is on offer there. As I say it will take a hell of a push for us to take plan B as I don't expect to be bailed, with that it would take a lot for me to priced out now, it would be more if it made massive financial sense.
Dont get me wrong, I dont want people to be priced out, im not looking to sell, so either way im not fussed.
Good luck anyway! :-)Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
I've certainly seen a FTB renaissance here on the ground. Property is very affordable for most working couples, and yes the working couple model is here to stay and the one which most people engage with when planning and no thier lives do not fall apart enmass when they have babies.
As I've been saying, the foundations of the next boom are now well in place.0 -
Nope nobodys buying round my way, and if you lived round my way and had bought your first house last august then you will have wasted quite a few quid.
Cheers Jimmy, nice...
However, if Id waited to buy my house now, I wouldnt be living in the close im living in, feeling the way I do about life.
Sometimes you dont get a second/third/fourth chance to take opportunities in life, you need to grab them with both hands when they arise. The cost I brought at leaves me with no concerns at all, I bagged my bargain, everything about the whole process worked out perfectly.
I could have waited another 8 months till now, but still there is nothing worth buying... nothing worth getting excited about!
Im not overly worried about the cost of the mortgage now, nor in the future.Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
However, if Id waited to buy my house now, I wouldnt be living in the close im living in, feeling the way I do about life.
Yes the very determined bears seem to have an intrinsic propensity to make decisions largely driven by the desire to save money at all cost, whereas I think most people focus much more on lifestyle objectives (such as the enjoyment of doing up your own place / the feeling of pacing round your own little castle) rather than holding a constant fiscal balance in thier minds eye.0 -
Anecdotally, I can agree with that.I've certainly seen a FTB renaissance here on the ground. Property is very affordable for most working couples, and yes the working couple model is here to stay and the one which most people engage with when planning and no thier lives do not fall apart enmass when they have babies.
As I've been saying, the foundations of the next boom are now well in place.
As a couple both working... trying for a little one I can concur.
Life begins when you buy a house, it doesnt means its the beginning of the end.
Someone feeling positive makes things happen.
the person feeling down defeated and out,... generally sits, sulks and worries themselves into an early grave.
Get on with life you miserable buggars...Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
Yes the very determined bears seem to have an intrinsic propensity to make decisions largely driven by the desire to save money at all cost, whereas I think most people focus much more on lifestyle objectives (such as the enjoyment of doing up your own place / the feeling of pacing round your own little castle) rather than holding a constant fiscal balance in thier minds eye.
Have to totally agree with that... its does catch me out a lot as an accountant, I do concern myself with cost more so than cash flow. (im looking at buying a new car now, and the options in my head are making me dizzy...lol)
Do what you want, not necessarily what makes the most sense. Do what makes you happy.
After all why do they make 6.0l v12 aston martins, how on earth do they make sense? lolPlan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0
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