Putting an offer on a flat during Brexit votes

PasturesNew

If you like it - buy it. You need a home, somewhere to live, so ignore any outside noise that you can't control..... never listen to fear mongers as the world is full of them and, if you wait, right after "it's sorted" there'll be another scare about something .... and after that one another. There's always some group or other shouting doom about property ... but you do need somewhere to live.

AnotherJoe

Any offer in the next 5 years is likely to be in a Brexit vote period.

GRBR

Thanks for the advice everyone - after consideration we have put an offer in on the flat. Fingers crossed!

maisie_cat

Sibz wrote: »

My take on it is that people will still need to live in houses after brexit regardless.

People selling houses are still going to want a good price as will people buying.

I think Brexit is just another Y2K.... housing market was fine before the EU. If I was selling I certainly wouldn't be entertaining silly low bids based on brexit anymore than I would based on an earthquake, alien invasion or Alfred Hitchcocks film Birds actually happening in my neighbourhood

Excellent, I couldn't have put it better myself :T

ognum

GRBR wrote: »

Thanks for the advice everyone - after consideration we have put an offer in on the flat. Fingers crossed!

Good luck, hope it’s accepted, let us know.

poppasmurf_bewdley

I'll give you the same advice I gave my daughter six months ago when she was thinking of buying a house.

You buy a house to live in. If it's in your price range, in the area you want, and you're happy with it, then buy it.

Brexit will happen, and you will still live in the house. Governments will change but you'll still live in the house. House prices may go up or down but you will still live in the house.

Buy a house to live in, not as an investment. If the value of the house goes up, all well and good. If it goes down, then the house has done what it was built for and provided a roof over your head and saved you from paying rental money which would have been lost anyway.

lisyloo

The advice on here is always "Just buy", seemingly at any price?

No - not at any price or any situation.
As you know I choose to rent as I'm economically mobile, so it makes a lot of sense to rent and we've tied up the dates of the rental contract with the employment contract to reduce risk.


However for people looking for a HOME for the long term who do not expect to be mobile, the fundamentals of gearing, the tax regime (no CGT) means it makes a lot of sense to put your money into an asset and have something to show for it. A house has high intrinsic value as you can live in it for decades rent free once you've paid it off.



I'm another one who thinks brexit will be another Y2K and there will always be something to worry about on the horizon.


Trying to time the market is not usually going to work for the average unsophisticated investor and may well cause a lot of damage to their happiness and relationships for example if they put off having a family and later find themselves infertile.

GRBR

Offer accepted and the property is off the market. Yay! :j