We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Hubby own business, renting a property. When to buy?
Jewel_2
Posts: 4,666 Forumite
Hi all
We sold a property about 18 months ago (twas old and we didn't have the cash to do it up). We have been renting since, and in the meantime my hubby has set up 2 companies which are doing quite well.
We need to save a healthy deposit, and anyhow we can't buy yet as we need three years of accounts (which is about another two years). We have moved into a flat (which is cheaper than renting a house as people seem to be taking the ****) but we are in the area we love and we're very happy
.
How long do you think before the housing market starts creeping up again? I'm doing a life plan (lol) and I'm happy to rent for a long time but we need to pick our moment. What do you reckon to the housing market?
We sold a property about 18 months ago (twas old and we didn't have the cash to do it up). We have been renting since, and in the meantime my hubby has set up 2 companies which are doing quite well.
We need to save a healthy deposit, and anyhow we can't buy yet as we need three years of accounts (which is about another two years). We have moved into a flat (which is cheaper than renting a house as people seem to be taking the ****) but we are in the area we love and we're very happy
.How long do you think before the housing market starts creeping up again? I'm doing a life plan (lol) and I'm happy to rent for a long time but we need to pick our moment. What do you reckon to the housing market?
Forever I will sail towards the horizon with you
0
Comments
-
heya, just as an FYI, Halifax will lend on 1 years accounts
big bad debts: Gone!
[Mortgage: [STRIKE]£152,864 [/STRIKE] [STRIKE]£150,805[/STRIKE] [STRIKE]£149,000[/STRIKE] £145,000 [/STRIKE][/STRIKE]:eek: £215,000:eek:0 -
Sorry, just to expand on the above...!!
Myself and partner were in similar situation, and we have just bought a place, partly we were keen to take advantage of the buyers market/lower prices, but also, the place we are in is just too small and were desperate to move.
Being self employed or having a self employed partner can be nerve wracking, and having a mortgage added to that can make it worse! If you are really happy where you are, might be as well staying put until the companies have been up and running a bit longer.big bad debts: Gone!
[Mortgage: [STRIKE]£152,864 [/STRIKE] [STRIKE]£150,805[/STRIKE] [STRIKE]£149,000[/STRIKE] £145,000 [/STRIKE][/STRIKE]:eek: £215,000:eek:0 -
How much do you have saved and how secure are the businesses?
It's best to have a couple of years accounts (probably 3) to get a biggest choice of mortgages.
Prices aren't going up any time soon.0 -
How long do you think before the housing market starts creeping up again? I'm doing a life plan (lol) and I'm happy to rent for a long time but we need to pick our moment. What do you reckon to the housing market?
How long is a piece of string?
Everyday we hear of the global financial crisis worsening and still we've not seen the UK property bubble actually burst, primarily down to Government intervention (printing money and low interest rates). Will it actually burst, who knows?
I believe that the property market in Japan has still not recovered from the crash of 1991, that's 20 years, ouch.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.5K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards