I am a cash buyer. Buy now or buy later??

RelievedSheff

Diocletian_II wrote: »

I am a cash third time buyer. But many of the issues I am facing also apply to first time buyers, although they are not identical. Lots of buyers will also be living in quite adequate rented accommodation or with parents, so I think the argument that bought accommodation is always better than rented is not accurate. In London it is quite possible to rent something better than people can afford to buy.

How much have you spent on rent in the last 12 months?

I would hazard a guess that it is a damn sight more than the average house price has fallen.

You make the mistake of looking at asking prices and assuming that house prices are falling on the basis of a handful of reduced asking prices. You really need to look at sold house prices and completed transactions to get your property price trend data. This is the accurate data based on actual sales not pie in the sky asking prices.

System

Are there any other cash buyers here, apart from me and Pastures New? There are oodles of abusive owner-shills on this forum, trying to pump the market, but hardly any cash buyers. Would be great to talk to any others, if they exist here. Getting first time buyers' views would also be useful.

hazyjo

What you're asking for is an investor who will tell you now isn't a good time to buy.


Like I said, I have nearly 100% cash in mine. I do NOT want prices to increase. I am not trying to 'pump the market'. Absolutely not.


If you want to chat to cash buyers re the market, try the Debate House Prices & the Economy board.

System

I'm looking to see what other cash buyers and first time buyers are thinking, since we are in a similar situation. However, it seems we are very thin on ground, which is very useful to know in itself. It's not useful to know what owner-shills are saying, because they have a different agenda.

RelievedSheff

Diocletian_II wrote: »

I'm looking to see what other cash buyers and first time buyers are thinking, since we are in a similar situation. However, it seems we are very thin on ground, which is very useful to know in itself. It's not useful to know what owner-shills are saying, because they have a different agenda.

Clearly not the same as you or you wouldn't have to keep banging on about it.

Change the record.

No one agrees with your Crashy

caprikid1

I am not sure what the relevance of Cash vs Mortgage is in terms of the buying decision.


I could have been a cash buyer but I felt at current interest rate levels I would be a mug to use my cash when others were offering theirs so cheap, why should I tie all my money up in an asset and take that risk when I could keep the cash ?

Cash buyers are not seen these days as attractive, they are often as deluded and uncertain as the OP, they are viewed as flighty and unreliable, liable to gazunder and all manner of despicable practices so often viewed as a negative not a positive. Often cash buyers are not committing much early on to the process, IE no Surveys or Mortgage application fee's , I have heard it said that many times to avoid cash buyers all together.

MovingForwards

I'm a FTB, 'dropping prices' don't phase me as I'm looking for a home not an investment.

hazyjo

Diocletian_II wrote: »

It's not useful to know what owner-shills are saying, because they have a different agenda.

So now I'm a liar :rotfl:

System

Any other cash buyers here to give their views, over the noisy swarm of property-shills on here?

It's amazing there are no cash buyers on a property buying forum.

hazyjo

Lots of FTBs. Just search for 'first time buyer' or 'FTB'. Those on here are usually in the process of buying. Not debating the market.


The others clearly don't want to talk to you.