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Quick straw poll: Is now a good time to buy?
Llyllyll
Posts: 870 Forumite
Just curious really and am only just staring my research on this but at the moment lets say,
- no mortgage
- equity in current property - £135k (conservative)
- savings - £40k
- new property - between £210k (last property in the street sold at) and £285k (current asking price of a potential prop in same street).
Quick straw poll: Is now a good time to buy? 17 votes
Yes
76%
13 votes
No
23%
4 votes
0
Comments
-
It all depends on whether the sellers want you to fund their retirement..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
It all depends on whether the sellers want you to fund their retirement..
I'm sure they do
. All figures used were conservative on my side and high on the seller's (safest that way...) but am just curious as to which way the wind is blowing with this.
Just also been having a chuckle at the Ridiculous offer from buyer thread.
0 -
People always try to second-guess the market, but it's not possible, and individual circumstances make things even more complex.
For example, we bought at the bottom of our market just over 3 years ago, but if there were to be a sudden crash in prices this winter, would we have been better off waiting? I don't think so.
Like everyone else, we had no idea what the market would do next when we bought. We just saw a great opportunity and went for it.0 -
Is your current living arrangement limiting you in anyway? If yes then would buying a different property improve your quality of life? If yes then it is a good time to buy.
If you are buying to make money, then you might be waiting a long time to make the money.0 -
Buying now to Decrease your mortgage, Not max it, would be a good idea...
Lots of repossessions around!0 -
SecondTimeBuyer wrote: »Is your current living arrangement limiting you in anyway? If yes then would buying a different property improve your quality of life? If yes then it is a good time to buy.
^ This is the very reason
.
As I've stated, just starting out with this at the moment but it's always interesting to canvas the mood...
cbr600f, I wouldn't max out a mortgage because all figures used in my example were conservative on my side and high on the seller's. I always do a lot of research (on pretty much anything) and am very careful/thrifty/tight (take your pick).
Thanks all.0 -
I answered no before really reading your situation so please forgive me on that one.
The market seems really slow by us, same houses sat on it for ages! We are trying to buy and they all want asking price!!!!!!0 -
Everyone in the buying market must have propertybee as a great tool..It has helped so many...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0
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