About to buy but is it the right thing to do?

SquatNow

lizzymouse wrote: »

My husband and I are both 37 so getting on the property ladder is something we need to do fairly quickly if we want a house to be paid off before we retire.

Property PYRAMID. It's a pyramid sceme.

Please don't use the term "property ladder" again as it is missleading.

lizzymouse

Squatnow- excuse me??

dont tell me how to write my own posts thank you !! how dare you order me about and be so rude!!


this mouse roars- learn some manners:D

Running_Horse

Don't buy this house. If you need to ask a bunch of strangers and house-price-obsessed weirdoes on the Internet, then this purchase is clearly not for you. Buy a bunch of fertile cats and become a strange hermit instead.

lizzymouse

hmmm...............:rolleyes: :rolleyes:


good old forums!

PasturesNew

Running_Horse wrote: »

Don't buy this house. If you need to ask a bunch of strangers and house-price-obsessed weirdoes on the Internet, then this purchase is clearly not for you. Buy a bunch of fertile cats and become a strange hermit instead.

You can't do this in rented... most won't allow any pets, never mind lots of them.

nollag2006

Congratulations !! I have no doubt you are doing the right thing


You’ve found a house you like, within your budget. You are saving money compared to rental, and you’re not at risk of being thrown out at the landlord’s fancy, or subjected to nasty swirling nylon carpets.

With nil rental inflation into eternity, and a house that will be yours completely debt and rent free by the time you retire.

Despite what any of the house price crash moaners say, the likelihood is that house prices and rental will be substantially higher in 20 – 25 years time than they are today.

Go for it, and best of luck to you !!

nollag2006

PasturesNew wrote: »

You can't do this in rented... most won't allow any pets, never mind lots of them.

Excellent post Pasturesnew !!!


Both funny and very true !!!

:beer:

RoxieW

congrats! i think you're doing the right thing. it sounds like you're in a good financial position and with regards to children, there's never a right time money wise -you'll manage. we had our first (a happy accident) when both me and other half were students at uni without a bean to our names. things were tight but we managed just fine and certainly never felt that we were going without anything. we just got on with it and were very happy. Five years later we have another boy, a nice house and are in a good financial position. To be honest, I've worked and not worked with the boys and we've been financially about the same with childcare cost/tax credits etc - it kind of evens out.
Be happy - you're about to get your own family home - very exciting!!

Johny_T

lizzymouse wrote: »

Well, i have had a good old chat with my husband tonight and we have decided to go for the house:j I

I personaly think you've made the right decision so don't worry and go for it!

1st of all The 'credit crunch' that is feared should have a positive effect on intrerest rates. The first place lenders will hit (and have hit) is the subprime and high income multiples. Net result is less money in peoples pockets = lower inflationary pressure = less pressure to raise interest rates.

The same cause above also reduces the demand for housing but as we have comapritively low supply as well this should stable out prices as oppossed to sending them crashing down. HOWEVER... if you are planning on staying in your property it's value in the next few years is (largely) irrelevant.

Enjoy your new home and good luck with starting a family!!

dannyboycey

fistfullofdollars wrote: »

I would buy.
I would also take all the HPC stuff on here with a pinch of salt.

I think smelling salts are the ones you're looking for! Ignore their predictions at your peril. Far better to factor in price drops into you financial plans and be prepared than jump feet first into something.