Sell early 2008, buy back 2015?

manhattan

CB1979 wrote:

if you can't afford it, don't buy!
I CANT BUT EVENTUALLY I WILL

if you think they're overpriced, don't buy!
IM NOT, AT THIS PRESENT TIME

if you don't want a mortgage for a long time, don't buy!
25 YEARS IS FINE, THANKYOU

if you'll be better off renting, don't buy!
I AM AT THE MINUTE, BUT WHEN THAT CHANGES I WILL BUY

i just can't quite see how that needs debating
I TOO AM CONFUSED

if prices are too much in your area, move if you really want on the ladder?????
I NEED TO BE NEAR PARENTS FOR HELP WITH LOOKING AFTER KIDS WHILST AT WORK

again all the talk of how property is overpriced, "can't wait for a crash, etc etc" well I wonder if you'll be wanting that when (well IF) you get on the ladder, if it's such a joke what's the big deal?
WHEN I THINK A CERTAIN HOUSE IS WORTH WHAT THEY ARE ASKING I WILL BUY. WHEN I PURCHASE MY FIRST SUITABLE PROPERTY, PRICES WONT MEAN !!!!!! TO ME AS LONG AS I CAN AFFORD THE MORTGAGE.

......................

mystic_trev

zipwen1 wrote:

firstly because its our house and we have worked hard to save a deposit and work even harder to pay our mortgage.
why shouldnt we get defencive at the people who are praying we will lose money on our property that we have worked so hard for, just so they can reep the rewards and not do any work for it.
owening a house to many people isnt about making money on it, its about being able to call it your own, to have something to show for all of your hard effots at work, to have something to leave your children when your gone.
when people are waiting with baited breath to take that away from you why shouldnt we get anoyed.

So why are you bothered? You've quite rightly stated you've bought a home not an Investment, which is as it ought to be.You shouldn't be bothered if there's a downturn as you'll still have your home (so long as you can keep up the mortgage payments) so what's the problem? If FTB's or STR's are willing to gamble on a "crash" to buy homes or Investments cheaper, then surely that's up to them?

tim_n

The only person who profits is someone who sells high and moves abroad (perhaps thailand) to live like a king on their profit.

I am a FTB - my mortgage is £97 on £112k. The house may fall 25-50k in 2008 (I was paying attention to the thread! see!) but so will everywhere else. I intend to live in that flat until circumstances
make me not to (marrying partner/kids) or I get a much better job where a 25k-50k hit won't hurt me as much.

Having the house is having shelter and somewhere to live. Huzzah!

mr.broderick

manhattan wrote:

yes, but you most probably have a bit of "paper equity" in your house, so if there is a correction you have probably lost NOTHING!

people dont work hard for that equity, its just luck at the end of the day and i will try my luck to buy my family a house whenever that happens.

and your not the only one who has worked hard to save a deposit, i am sitting here with a nice big sum towards a suitable starter home at a suitable price!

and believe me i bust my ball$ saving that!

Fair comments manhattan but lets be a little sensitive to people who have bought at the high end of values and who are constantly being warned of imminent house price corrections which would probably wipe out their hard earned deposits and some. Its not their fault you are still waiting for a correction that probably wont happen. I dont see a correction, in fact i see house prices continuing to rise albeit not at the same levels. I do feel sorry for ftb and do believe property is overpriced, we would have got to these levels eventually, weve just go there too soon. I can see your desperate to own a house manhattan and if you have got the sizeable deposit you claim you have i say take the plunge. Houses round here are being snapped up within weeks the majority at asking prices or thereabouts, worrying.

IFA

I hope house prices fall a bit so I can move to a decent home without paying 3% stamp duty! It doesn't just affect FTB'ers but also 2/3rd time buyers..

The only people who gain from house price rises are

a) Government
b) Estate agents
c) Solicitors
d) anyone selling up and moving abroad where house prices have not risen so much..

Equity in a house means absolutely nothing until you sell as previously mentioned..

Comparitively speaking you are better off as you have a lower mortgage than someone buying now but that's only where you gain..

jaype

zipwen1 wrote:

owening a house to many people isnt about making money on it, its about being able to call it your own, to have something to show for all of your hard effots at work, to have something to leave your children when your gone.
when people are waiting with baited breath to take that away from you why shouldnt we get anoyed.

If you think you are going to have anything left over after the government has siezed it to pay for your care bills then you are mistaken!

zipwen1

mystic_trev wrote:

So why are you bothered? You've quite rightly stated you've bought a home not an Investment, which is as it ought to be.You shouldn't be bothered if there's a downturn as you'll still have your home (so long as you can keep up the mortgage payments) so what's the problem? If FTB's or STR's are willing to gamble on a "crash" to buy homes or Investments cheaper, then surely that's up to them?

yes but i have an apartment which im not planning on living in forever, if i wanted to buy a larger house and house prices had dropped my deposit would be wiped out so id have to start all over again. thats why im bothered

and it is up to them if they want to wait around for this brilliant crash which we are being told about day in day out. i dont care wait as long as you like

zipwen1

jaype wrote:

If you think you are going to have anything left over after the government has siezed it to pay for your care bills then you are mistaken!

i wont be going into a home, i would rather put myself into a coffin. no offence to care homes just not what i would want

Generali

IFA wrote:

I hope house prices fall a bit so I can move to a decent home without paying 3% stamp duty! It doesn't just affect FTB'ers but also 2/3rd time buyers..

The only people who gain from house price rises are

a) Government
b) Estate agents
c) Solicitors
d) anyone selling up and moving abroad where house prices have not risen so much..

Equity in a house means absolutely nothing until you sell as previously mentioned..

Comparitively speaking you are better off as you have a lower mortgage than someone buying now but that's only where you gain..

You missed:

e) bank shareholders (unless prices really tank)
f) braggarts ("Well I bought in 1902 for 3s6d, I always knew it was an up-and-coming area...")
g) makers of TV property !!!!!!

do_it_today!

zipwen1 wrote:

i wont be going into a home, i would rather put myself into a coffin. no offence to care homes just not what i would want

just go on world cruises instead apparently
they are cheaper
you get better service
nicer food
your sheets changed everyday
and people who are happy to treat you like a human being!