Quit everything , and start again over 50?

lessonlearned

Yes - Grasshopper, after speaking to a couple of EAs, some builders and just generally paying attentiong to the the sheer levels of hysteria and panic out there, then I am afraid I have to agree that the housing market may well be in for a bumpy ride.

That is not to say I would advocate anyone to refrain from buying - unless of course there might be a chance of a job loss or similar in the near future but just that, when making a decision to purchase, to be aware that you may need to think long term rather than short to medium term.

So if you think you are likely to either have to or want to move house again within a short time frame then think carefully. I think if you are buying then you need to be in a position "to hold" for at least 5 years if necessary.

Of course there will always be the unexpected - job moves, job losses, illness, divorce, relationship breakdown etc. These can't always be foreseen. I just think that now is not the time for a speculative purchase with a view to making quick profits. If prices do drop then the investors and developers will be quick enough to make their move.

However, I am still philosophical and "cautiously optimistic" because I do firmly believe that house prices will always bounce back and that in the longer term they are still on an upward trajectory. I just think that for now caution is the watchword. Steady as she goes and avoid the rocks.......

Don't overcomit and keep a close eye on the banks. Whilst I don't have a crystal ball I don't think interest rates will soar - At least not immediately. It all depends on the £s performance.

However, I do think that mortgages might be harder to get and that lending criteria might be much stricter with lenders tightening up again on "affordability" rules rather than simple equations built on salary multiples and deposit size. Another reason to pay down debts and build cash reserves.

There is so much panic and negativity out there that I think there is a danger of making the situation worse than it need be. The media are in a feeding frenzy and there are an awful lot of headless chickens running around at the moment.

I don't profess to have all answers. I can only judge the housing market from past performance and my own experience.

I would say that right now buy a house to build a home. If it is to be an investment then consider it a long term investment. Don't overcomit with your borrowings.

Try to buy a house that is future proof for your changing needs. So if you have a young family make sure it is either big enough or has the potential to extend. If, like me, you are knocking on a bit then think about future possible mobility issues.

Today I am going to be undercoating door frames and architraves......:rotfl:

Smodlet

Different strokes for different folks, I guess, AC. No power on earth (that I have yet met) would induce me to live near to a station. It is one of the first things I look at when viewing rightmove: How far away is the nearest bus route, main road, railway line, in that order and the further, the better. Some of us value peace and quiet (neighbours notwithstanding) above travel links. Also, tigger safety is paramount. Totally the opposite from London dwellers.

Sooner or later someone will come along who also values the distance and relative quiet. Maybe you'll get some fitness person who wants to jog to the station. I know it is frustrating, I do remember. Can't they see on the interweb how far the stations are? But you need only one person to like it and it sounds as if there is a reasonable amount of interest.

How is the office today? It has become much cooler and fresher, here so hope the same is true of humid London.

lessonlearned

Good luck with the next viewings.

They still keep coming don't they. A good sign.

lessonlearned

Yes it's a lot less humid here too, a nice cooling breeze today.

Re peace and quiet......definitely one of my top 5 must haves.

In fact it's probably my no. 1.

lessonlearned

another_casualty wrote: »

Just awaiting to hear what the last viewers had to say .
One thing that could be in my favour , is that I live in an 'affluent area '( expensive ).
When I looked at some of the feedback, some thought £400kwas the right / max price . This was when it was overpriced at £425,000.

Last weekend , 2 viewers really liked it and are considering offers.

I may have to wait until next year , and I believe I will get this price if I hang on.
However, the tedium is killing me ;(

I wish I could accept a lower offer. If I do, it means I cannot have any spare money, or take6-12 weeks off which I need desperately to get my health back ion track. Then there is furniture to get etc...

Missed this. Good luck with the two who are considering offers. Let's hope they don't get cold feet.

Smodlet

Thank you, LL, Yoda. I am interested only from an academic point of view, thank goodness! We have no plans to move at present but we never stopped the rightmove alerts after we moved here. We hated it so much, at first and were intent on moving again as soon as possible, then there was a market slump here, at least, in 2013/14, I forget now, and we were unable to sell. This was after the EA told us these places were selling "within a week" a couple of months before. We were not quite ready, took literally a few weeks to put the finishing touches required to bring it to market, and missed the boat.

Our good neighbours are not just good, they are great! They really have become good friends, real friends, not just neighbours who say hello. Without them, I think we would have moved long ago but the chances of finding neighbours like them anywhere else are so slim, it would now take a great deal for me to move. Having said which, we live in hope of a small-medium miracle turning up, out of the blue. Thought we'd found one only last week; beautifully presented house, big garden, looked much better than ours but the area turned out to be !!!! There is always a reason why a seeming bargain is priced as it is, huh?

OH complains about the stairs from time to time (he is only a year older than you, 66 today, as it happens) and in the middle of laying a reasonably-sized patio. Please the powers, he remains fit and well for a very long time. We are probably as settled as we will ever be, given we have been uprooted from the gentle south and I, for one, will never stop missing it.

Please keep the words of wisdom coming as I am sure they are helpful to AC and Anna, and to others and I am interested. The day you stop learning, you might as well stop, methinks.

another_casualty

Have to laugh. The last 2 weeks or so, I've had lots of snails on my front door . Managed to give it a wipe yesterday . Trying not to crush them , when I leave for work in the mornings .;)
I did mention the grass the other day. I have tge intentions of cutting it again , but rain is forcast this week.
The little things in life ..

lessonlearned

Snails.......yuk. Its been slug city here this last week because of the wet stuff. Horrible things, urgh......

another_casualty

You're not French then LL

Smodlet

LL is half Belgian, AC. Think they are more about the chocolate, on account of being civilised... Eurolunacy notwithstanding. Don't suppose they allow curvy chocolates, always have to be straight.

A front door covered in snails? And you're trying not to damage them??? Just a thought, AC, you think the slimy, little illegitimates could be what's putting potential buyers off? Unless they are French, of course, though it's hard to imagine them managing to slither through 22 miles of Eurotunnel without getting run over... guessing the supply of those might snail, I mean tail off in the next few... Methinks it may slow things down and make for a sluggish market.

OK, there have to me more idiocies to be had from this... where is my mate Pyxis? Pyx-iiiissssss!

Salt, y'all. Honest to gosh-goodness salt. NaCl. Provided you don't mind watching them go all yellow and shrivelly. Eeeewwwww! Gonna have nightmares, now.