Wait and see strategy before getting on the property ladder?

HOMESWEETHOME

Thrugelmir wrote: »

First and foremost it's a home. Once paid for gives people enormous degree of security. As it removes the need to earn large sums.

Investment is speculation. Every market moves up and down in cycles. Like the Dot Com boom people move in herds and ignore the obvious even though it's plainly in view. Then wonder why and jump on the next train far too late. .

You summed it up in your first 3 sentences it a HOME not an investment. So many people are buying thinking property only goes one way and over stretch themselves and when the market turns, they lose there job they question themselves as to how could this have ever happened. Prices go up and go down, as long as you plan for the bedtimes as well as a good times then who cares if it climbs 10% every year or loses 5% a year.

Just remember its a home, your home, where one day you will own outright, raise your kids and animals - memories no one can take away from you:D

[Deleted User]

HOMESWEETHOME wrote: »

as long as you plan for the bedtimes

Top tip. Especially with kids.

marsman802

It's important to get it right if you want to move on later.
A bad deal can seriously put you behind the market and people tend to move every 10yrs.
A good deal and you could end up with a lot of equity very quickly. That's security and a step up the ladder.

HOMESWEETHOME

marsman802 wrote: »

A good deal and you could end up with a lot of equity very quickly. That's security and a step up the ladder.

But can anyone see what is ahead of us, whats round the corner....Merely 'gambling' punting on a market. As they say anyone can make money on a rising market but its a lot harder to make money on a down turn. I say leave it to the professionals

wolfplayer

Thrugelmir wrote: »

The right time to buy a property is when it's right for you. Don't get caught up in the hype. Prices around here haven't reached the peaks of 2007 yet.

Is 2007 fair value to you. :rotfl:

My view is prices haven't reached 1997 levels yet. :beer:

I expect this market to run out of buyers, for crunch 2.0.