Land Registry Prediction

DervProf

Percy1983 wrote: »

Don't worry there will be no HPI cheerleading or gloating from me, I don't want prices to rise more than inflation. All I want is a home, not an investment.

What, no second home (or two) as a pension ?

Percy1983

I only need one to live so I will be happy with one.

geneer

Percy1983 wrote: »

I only need one to live so I will be happy with one.

Saving up a deposit is a sensible and indeed neccesary practice.

A real work concern that doesn't neccesarily feature in the retrospective so called "analyses" of a certain embittered sub-section.

You've nothing to lose by waiting, and everything to gain by putting down as much as possible when you choose to buy.

You will be surprised how much an extra 10% will save you in the long run, and thats not even including the favourable interest rates this will get you.

Pimperne1

geneer wrote: »

Saving up a deposit is a sensible and indeed neccesary practice.

A real work concern that doesn't neccesarily feature in the retrospective so called "analyses" of a certain embittered sub-section.

You've nothing to lose by waiting, and everything to gain by putting down as much as possible when you choose to buy.

You will be surprised how much an extra 10% will save you in the long run, and thats not even including the favourable interest rates this will get you.

Although the "favourable interest rates" might be more favourable now than they will be in, say, 5 years time.

geneer

Pimperne1 wrote: »

Although the "favourable interest rates" might be more favourable now than they will be in, say, 5 years time.

Which would suggest people should think more long term when considering real world "affordability" doesn't it pimp.

If only more people had taken that view in 2006/2007.

In any event, the interest rates for those with greater deposits will still be more favourable in 5 years time.

Pimperne1

geneer wrote: »

Which would suggest people should think more long term when considering real world "affordability" doesn't it pimp.

If only more people had taken that view in 2006/2007.

In any event, the interest rates for those with greater deposits will still be more favourable in 5 years time.

Of course, interest rates will most likely always be more favourable for those with greater deposits, but we are in a time of exceptionally low long term interest rates for those prepared to take the plunge. If, however, house prices drop by between 25% and 35% between now and the end of 2013 then it makes perfect sense to hang on (and there is a respected pundit who says this is likely).

ukcarper

geneer wrote: »

Saving up a deposit is a sensible and indeed neccesary practice.

A real work concern that doesn't neccesarily feature in the retrospective so called "analyses" of a certain embittered sub-section.

You've nothing to lose by waiting, and everything to gain by putting down as much as possible when you choose to buy.

You will be surprised how much an extra 10% will save you in the long run, and thats not even including the favourable interest rates this will get you.

Lets face it saving whilst renting is very difficult and not always an effective way of saving money in the long term. Percy is living with parents making saving easier and more effective i.e. not wasting money on rent. In the present climate I think it makes sense for Percy to stay at home and save for a deposit but I’m sure there is a limit to the amount of time he wants to do that.

geneer

ukcarper wrote: »

Lets face it saving whilst renting is very difficult and not always an effective way of saving money in the long term. Percy is living with parents making saving easier and more effective i.e. not wasting money on rent. In the present climate I think it makes sense for Percy to stay at home and save for a deposit but I’m sure there is a limit to the amount of time he wants to do that.

I'm sure there is.
Equally, its not possible to buy without doing the saving first.

Is rent wasting money? Strange, I thought it put a roof over your head.

Y'know, in the same was as paying banks interest does.

Pimperne1

geneer wrote: »

I'm sure there is.
Equally, its not possible to buy without doing the saving first.

Is rent wasting money? Strange, I thought it put a roof over your head.

Y'know, in the same was as paying banks interest does.

Not sure if this has been said before but whilst paying rent puts a roof over your head paying interest both puts a roof over your head and allows you to own that roof at some stage.

geneer

Pimperne1 wrote: »

Of course, interest rates will most likely always be more favourable for those with greater deposits, but we are in a time of exceptionally low long term interest rates for those prepared to take the plunge. If, however, house prices drop by between 25% and 35% between now and the end of 2013 then it makes perfect sense to hang on (and there is a respected pundit who says this is likely).

I'm confused. A few posts ago you were suggesting interest rates were going to be increasing, now you're telling us they will be exceptionally low long term.

Even if prices remain unchanged it will also make perfect sense to carry on saving that deposit.