thoroughly fed up - tell me it'll be ok

Crashy_Time

Mickey666 said:

Crashy_Time said:

Mickey666 said:

theartfullodger said:

Capitalism means, sadly, some people win, some lose.  Please don't believe buying property is necessarily a good idea. Property prices do not and have not always gone up.

Good luck.

1. - LIFE means, sadly, some people win, some lose.  Nothing to do with capitalism.  There are plenty of alternative regimes around the world with winners and losers.  Let us know which one you'd prefer and why you're not living there instead of here.

2 - Buying 'property' may not necessarily be a good idea but buying a home seems an eminently good one to me, if only to have zero housing costs after 25 years or so, save money over a lifetime, make pension planning so much easier and not be at the mercy of a landlord telling you what you can and can't do in your home, or worse, forcing you to move out because it suits their more important purpose.  Notice that I didn't mention house prices once . . . because it's not the most important reason to buy a home.

3 - show me a 20 year period where house prices have not risen.

LOL. Most landlords, successful ones anyway, don`t get involved in their tenants day to day living arrangements unless they are breaking the law. To drag this out as a reason to buy a house, especially in this economic climate, is pretty desperate IMO.

Firstly, I gave plenty of other reasons to buy instead of rent, but you conveniently ignored those (as you always do).

Secondly, "Most landlords, successful ones anyway" leaves renters at the mercy of SOME, unsuccessful landlords.  The point being that if you rent then you take that risk but if you buy there is NO risk.

? If you buy you risk not being able to sell and move on, a 20k share on a roof repair (see other thread) or losing a lot of money when you do get a buyer etc. A renter with a bad landlord just gives notice and can leave immediately if they want?

Mickey666

Newbuyer88 said:

I think it really depends on your situation how you value owning a house. For us personally we want to be able to buy a home so we can leave it to our daughter (hopefully) in the future and give her a head start. I know some people won’t agree with that but most of the parents (including my own) do put extra value to owning a property for their child’s security (of course this is never set in stone but it gives another meaning to the process)

Nothing wrong with that sentiment to my mind, except perhaps that it's probably easier to give a grandchild, or even a great-grandchild, a true 'head start' by leaving them a house. 

If a son or daughter have not got their lives sorted out by the time their parents die (assuming average ages of course) then they probably never will.  Receiving an inheritance at 60 might certainly give a boost to pension plans but it's not really what I'd think of as giving someone a 'head start'.

lookstraightahead

Mickey666 said:

Newbuyer88 said:

I think it really depends on your situation how you value owning a house. For us personally we want to be able to buy a home so we can leave it to our daughter (hopefully) in the future and give her a head start. I know some people won’t agree with that but most of the parents (including my own) do put extra value to owning a property for their child’s security (of course this is never set in stone but it gives another meaning to the process)

Nothing wrong with that sentiment to my mind, except perhaps that it's probably easier to give a grandchild, or even a great-grandchild, a true 'head start' by leaving them a house. 

If a son or daughter have not got their lives sorted out by the time their parents die (assuming average ages of course) then they probably never will.  Receiving an inheritance at 60 might certainly give a boost to pension plans but it's not really what I'd think of as giving someone a 'head start'.

That's not always the case. You can certainly have your life on track and then 'bang' - divorce, redundancy, illness etc. Sometimes through no fault of your own you're worst off at 50 than you were at 25. Having your life sorted I think comes in cycles.

Sunsaru

lookstraightahead said:

Mickey666 said:

Newbuyer88 said:

I think it really depends on your situation how you value owning a house. For us personally we want to be able to buy a home so we can leave it to our daughter (hopefully) in the future and give her a head start. I know some people won’t agree with that but most of the parents (including my own) do put extra value to owning a property for their child’s security (of course this is never set in stone but it gives another meaning to the process)

Nothing wrong with that sentiment to my mind, except perhaps that it's probably easier to give a grandchild, or even a great-grandchild, a true 'head start' by leaving them a house. 

If a son or daughter have not got their lives sorted out by the time their parents die (assuming average ages of course) then they probably never will.  Receiving an inheritance at 60 might certainly give a boost to pension plans but it's not really what I'd think of as giving someone a 'head start'.

That's not always the case. You can certainly have your life on track and then 'bang' - divorce, redundancy, illness etc. Sometimes through no fault of your own you're worst off at 50 than you were at 25. Having your life sorted I think comes in cycles.

" 'tis better to have loved and lost than never to have loved at all "

RJM90

TXC said:

RJM90 said:

TXC said:

Hi all
Just on here for a moan more than anything - if youve kept up with my threads on here you'll know I'm fully in the throes of FTB in one of the busiest markets in the country (+16% price rise YoY at last count) and I'm thoroughly fed up. Ive had pull outs, cash buyer gazumps and lost about three BAFOs - I'm seriously starting to think I will never, ever find somewhere and that the rate pricing is going I'll be priced out of the market as the sad singleton I am very, very soon
tell me its going to be ok?

I'm so sorry you're going through this - I was just about to make a similar topic as we're experiencing the exact same thing. Rightmove say our area is one of the biggest price rises over the last year (the Wirral). We can hardly get a viewing at the moment, however we got to view the most perfect house yesterday after it went live earlier that day. They had eight viewings in the day and it went down to highest and final offers. The house was marked at £170,000 - we put an offer in of £179,500 and still missed out. We genuinely thought we were going to wake up this morning to a call saying we had the house. The search continues...

Hope you manage to finally find something!

I'll wave at you from over the water as I'm lpool! crazy isnt it! I was exactly the same with the latest BAFO I did everything right, first viewing in, first offer in, over asking, upped for BAF and genuinely thought I would get it. Called the EA today and asked if i could be top of mind if the sale falls through (was back on the market from a fall through in the first place so you never know!)
I'm hoping that supply will start to balance out as we come into summer and covid scared people get more comfortable with  strangers coming into their houses- I think thats the key problem here now, no houses!
Best of luck with your search!

So sorry to hear that, such a nightmare! Whereabouts in Liverpool are you looking? We’re currently living in south Liverpool and have been wanting to relocate to the Wirral for a while. Our house is sold STC but like I said it’s so difficult right now finding anywhere!

And yes, I think you’re right. Houses coming on the market tend to be in slow supply right now so when a nice one does come up it flies off within a day! Hopefully we see more houses go up for sale to slow things down. I think at this moment we’re deflated and genuinely think that unless the market slows down we just won’t get the property we want!

Scotbot

The market is upside down. Previously in a sellers market a buyer would find somewhere then market their property.   No one had an issue with this as in a sellers market this would not take long. Lots of supply from people who had found a property eager to sell.  But today you have to be proceedable to make an offer. Many people not going to market as there is so little for them to buy. It's a vicious circle. It will end at some point but goodness knows when

RJM90

Scotbot said:

The market is upside down. Previously in a sellers market a buyer would find somewhere then market their property.   No one had an issue with this as in a sellers market this would not take long. Lots of supply from people who had found a property eager to sell.  But today you have to be proceedable to make an offer. Many people not going to market as there is so little for them to buy. It's a vicious circle. It will end at some point but goodness knows when

It’s a good point. The way the market has gone, I know for a fact, if our house wasn’t sold stc we wouldn’t have even got a viewing the other day (they are literally packing the day after listing with viewings then it’s gone). We know that the vendor hasn’t yet found anywhere so I guess we can hope the buyer gets impatient and pulls out for us to come in but probably unlikely!

Newbuyer88

Mickey666 said:

Newbuyer88 said:

I think it really depends on your situation how you value owning a house. For us personally we want to be able to buy a home so we can leave it to our daughter (hopefully) in the future and give her a head start. I know some people won’t agree with that but most of the parents (including my own) do put extra value to owning a property for their child’s security (of course this is never set in stone but it gives another meaning to the process)

Nothing wrong with that sentiment to my mind, except perhaps that it's probably easier to give a grandchild, or even a great-grandchild, a true 'head start' by leaving them a house. 

If a son or daughter have not got their lives sorted out by the time their parents die (assuming average ages of course) then they probably never will.  Receiving an inheritance at 60 might certainly give a boost to pension plans but it's not really what I'd think of as giving someone a 'head start'.

My daughter is 4 year old so I have no way of knowing if she will have kids or not. If she does then it is up to her how she wants to help her kids and their future. My husband and myself both work very hard in lower paid jobs and understand the difficulty it has been to get to this point, so if she is in the same position then at least we know we have help take some of that stress away from her. 

Salemicus

It's a crazy situation. We've lost out on three properties now where we've bid above asking, in one case £55k above. Nothing to do but stay patient and positive. 

cookyy2k

I'm in the same situation. FTB, been gazumped 3 times in the last 2 weeks. Trying new builds now, see if I can jump on a plot before they're all snapped up.