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

ReadingTim

Diocletian_II wrote: »

The noise on this forum is coming from the many many noisy property owner-shills, who are shouting their abuse and insults very loudly. But as they say, empty vessels make the most noise.

Yes, you are posting a lot aren't you? Noisily, even.

caprikid1

Can you produce some statistic for private residential property bought for cash as a percentage of all property sales ?


Or are your delusions based on one thread on forum.


P.S I have access to those statistics but can't be bothered as it has no relevance to the property market.

System

I am only one person, drowned out by the abuse and insults of the huge number of owner shills here. Although, I do feel quite privileged to be the only other cash buyer here.

System

Again, I am not really interested in the views of the many owner-shills here, since their interests to not coincide with the interests of cash buyers like me. I'm still wanting to know if any other cash buyers exist, whom I can talk to. I do feel rather privileged being the only other cash buyer in a crowd of owner shills, and would like to connect with any others if they exist, which is looking unlikely.

caprikid1

Fixed that for you.


" I do feel quite deluded that I am the only other cash buyer here. "

caprikid1

"Their disappearance is simultaneous with price falls. "


Stats ?? or Jackanory once again Mr Crashy

System

I'm afraid I have no interest in your insults and abuse, and efforts at market shill-ing. I'd like to hear from any cash buyers, but they seem not to exist in this huge baying crowd of shills.

rash.m2k

I'm in a similar situation to you, depending on what I buy I could pay cash. I can only speak about my personal situation, but I think it applies more broadly too.

I do think the market is distorted, interest rates are low so people don't have to move and are staying put, therefore more competition for whats on the market. Hence why the prices are where they are, relatively flat

It really depends if you need to something right now to live in, or if it's for rental etc vs inflation eating away at your money.

I would say wait until after brexit, a no deal brexit would be good for buyers but not sellers and vice versa. Brexit shouldn't be too long now, so unless a really good deal comes up I'd stay put.

Even then I'd be reluctant to put all my eggs in one basket, rather than buy one with cash I'd rather put a small deposit and buy 2 or 3 instead (for rental) and have the money ready for when the market does eventually crash. Like it did in 2008/2009.

So basically my advice would be sit tight - unless something cheap comes up, and then you are in a strong position to squeeze the price down as far as you can.

System

rash.m2k wrote: »

I'm in a similar situation to you, depending on what I buy I could pay cash. I can only speak about my personal situation, but I think it applies more broadly too.

I do think the market is distorted, interest rates are low so people don't have to move and are staying put, therefore more competition for whats on the market. Hence why the prices are where they are, relatively flat

It really depends if you need to something right now to live in, or if it's for rental etc vs inflation eating away at your money.

I would say wait until after brexit, a no deal brexit would be good for buyers but not sellers and vice versa. Brexit shouldn't be too long now, so unless a really good deal comes up I'd stay put.

Even then I'd be reluctant to put all my eggs in one basket, rather than buy one with cash I'd rather put a small deposit and buy 2 or 3 instead (for rental) and have the money ready for when the market does eventually crash. Like it did in 2008/2009.

So basically my advice would be sit tight - unless something cheap comes up, and then you are in a strong position to squeeze the price down as far as you can.

Thanks, I am getting the impression cash buyers are broadly singing from the same hymn sheet, which is why they are so few on the ground. It's what economists call a buyers' strike, and historically leads to a sudden downward market revaluation. If a buyer can wait, it seems a bit mad to pile in lock stock beforehand.

rash.m2k

Diocletian_II wrote: »

Thanks, I am getting the impression cash buyers are broadly singing from the same hymn sheet, which is why they are so few on the ground. It's what economists call a buyers' strike, and historically leads to a sudden downward market revaluation. If a buyer can wait, it seems a bit mad to pile in lock stock beforehand.

I made a mistake the last time I bought for cash in 2015, what I should have done is bought 2 or 3 (like I said) with smaller deposits (as rentals). I'm determined not the make the same mistake again.

I mean rather than chucking ~105k on one, I could have put 50k and 40k on each and had 2 now!

I have been looking at the market actively for the past 1yr+ and I have noticed the prices have gone up since I bought mine. 2 doors down the property sold for £20k more, with one less bedrooms (smaller footprint), and smaller garden. Where I live (West Lancashire) the market is going up unlike London. And where I could have picked up something for £80k in 2015 is now probably going to cost £100k.

However I am looking for both rental and a place for me to live in. If you have got close to 500k lying about there are bargains to be had, as that end of the market hardly anyone can afford and there is plenty of downward pressure.

For example for about £250 to £300k you can get a nice large semi detached house. But for £450 to 500k, you can get a much better large detached semi-rural with plenty of land etc. OK it's another £150 to £200k, which is 30 to 40% more but you get way more than 30 to 40% worth of house - if you understand what I mean?