How many people here have sold to rent (anticipating a crash)?

Ms_Piggy_2

OK, the talk of the next housing crash could go on for years - or at least until it actually materialises But how many peopel here have actually sold their properties and are renting in anticipation of 'the crash'?

DP and I are getting married this year. I'm selling my house ATM and we plan to sell his flat once we are married (*no way* am I selling two properties at once :rotfl:), but I am unsure if we should then rent or buy a family home.

If we do buy, the idea is to buy a very nice family home that we will be in for some time rather than moving to a nicer home an dthen again in a few years time.

deary65

You will get a lot of good advice here:
http://www.housepricecrash.co.uk/forum/index.php?showforum=22

Ms_Piggy_2

I just wondered how many people (if any!) had actually gone as far as selling and renting.

Guy_Montag

If you STR at the right time, or if you STR & make the right investments you're onto a winner. If you get it wrong, you're f'ked.

Idiophreak

The good news is: if enough people start STR ahead of the crash, it will have a rolling start when it arrives

mystic_trev

I STR'd just over a year ago, but not to speculate, I needed to move a change location. I had a cash buyer so had to move into rented.I'm in no rush to buy and if prices droped it would benefit me.

From your point of view, your after a family home so if you find what you want and can easily afford it, buy now. You're after a home no a financial punt!

hippiechick_2

We've just moved into rented as our purchase fell through- like mystic trev we're not in any rush to buy either!

lynzpower

I sold "to rent" but for a number of reasons

1) i had a shared ownership place that I felt was hitting the ceiling of what people *should* have been willing to pay for a SO flat in that area( 300k)
2) it was ridiculously hot, and I just hate being there as Id often sweat cobs
3) id lost my job due to ill health and I woudnt have been able to fix my mortgage again & going from IO to repayment + being variable would have put 350 min onto our mortgage costs taking it WAY above the cost of renting ( we are now renting a period 2 bed cottage in london for 733pcm as opposed to 1100 if wed have stayed in the flat, we aim to save at least the difference )
4) we were not allowed a dog there, but we are here so thats the main motivator, but having thousands in the bank, after being skint as hell certainly makes me much hapier.

Now I have to get my head round investments! I dont have a clue- yet

scorpio_princess

My parents were seriously considering selling to rent, but mostly because they had sold their house and hadn't found anywhere else to live! They have now found a lovely grade 2 listed cottage, but because they are halving their mortgage by downsizing, they're not worried about prices falling -they would have to drop by about 400% for them to be affected (mortgage - 50k, house value - 200k). I suppose it depends on your circumstances - if you (like my folks) have done very well out of the rising property market, and manage to 'downsize' and therefore provide a big deposit (and have a small loan-to-value), property prices shouldn't bother you too much.

The only thing I would be wary of now is taking out a 100% mortgage - actually, even a 95% mortgage might be a bit dodgy, because if prices dipped even a little, you would be in negative equity. It's actually quite surprising how lenders are still willing to dole out 100% mortgages - i'd have thought they'd had the frighteners put on them by IR rises...

ABN

deary65 wrote:

You will get a lot of good advice here:
http://www.housepricecrash.co.uk/forum/index.php?showforum=22

Not really as that site is SOOOOOOOOO bearish and full of freaks that you cannot get any balanced opinion. Any bullish comment is squashed and often even deleted.

For better all round balanced information I would suggest
http://forum.globalhousepricecrash.com/

Ms_Piggy_2

Guy_Montag wrote:

If you STR at the right time, or if you STR & make the right investments you're onto a winner. If you get it wrong, you're f'ked.

Which is exactly what worries me :rotfl:

We *are* after a family house to be a home rather than looking at making a fast buck. We'd stretch ourselves to get what we want (rather than have to do it in two moves) but will have a deposit of £50k which will help.

Thanks for all your comments.

(And yes, the House price Crash site is just a tad scarey!)