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Debate House Prices
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Buy now or wait?
Comments
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Personally, I'd buy now.
The likelihood is that any loss will be tiny over the course of the lifetime of ownership.0 -
Personally, I'd buy now.
The likelihood is that any loss will be tiny over the course of the lifetime of ownership.
I fully agree, fair enough if you are buying as an investment then timing is more important, but if you are buying a home there are more important factors at play.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
What gen, chuck and Andy have just said.
If you are only looking for short term speculation the costs could have just as detrimental effect as price variation especially if heavily borrowed."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Agree with everyone else. If you are buying a home, get on with it and buy. Prices don't seem to be moving very fast in any direction in most of the country (although there's no way of knowing how long they'll continue like that) and the sooner you buy the sooner you can stop renting and start paying off your mortgage. If you get a mortgage that would still be affordable even if rates went up (which would be the sensible thing to do) then you could overpay it to start with, while rates are still low, and give yourself a bit of protection against rising rates in future by decreasing the capital amount that you owe.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
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Are prices going up? Will they come down? Would you (If in a position to buy) buy now? Wait? How long?
I know no one has a crystal ball I was just wondering what your opinions are?
Thank you
Prices are rocketing but what can you do. There will be no meaningful house price correction until the government decides to build more houses, and we could be 20 years away or more from that happening.0 -
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I would buy now and try to lock in a low interest rate.
The population is going to continue increasing and there is no solution in sight for building more homes, so the isues we face are only going to get worse.
It's all very well people saying it's not sustainable for FTB, but in areas where there is foreign investment (like London) or BTLers who can make a profit, then prices will continue to rise. It doesn't depend on the average buyer although it does depend on the area.0 -
House prices are rocketing around my way: Harpenden
One of the neighbours bought in early 2009, and has just sold on again at more than 60% more!
Early 2009 was the very bottom of the market though.
I'd agree with everyone else above, house prices are continuing to climb. Now is the time to take advantage of a decent 5+ year fixed rate, and get on the property ladder while you still can.0 -
If you are looking for a long term home, feel you can afford it even if interest rates rise / your circumstances change, and would be happy to stay in a place you buy now for 5-10 years if you had to, then there's really no reason not to buy.
Whatever happens in the market, buying a place you're happy to stay in is always a better bet than renting long term, if for no other reason than you eventually reach a point where you're not having to make payments. So if you're happy with the place you've bought and it's value falls, so what ?. You're still living somewhere you like, and moving towards a day when it's all yours.0 -
If you want to buy a house and are able to buy then it's alway the right time to buy.
In 25 years time you'll laugh at how much you worried about price falls and the inconsequential sums of money involved.0
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