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Cold feet - FTB overpaying

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Comments

  • MobileSaver
    MobileSaver Posts: 4,377 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Crashy_Time said:
    gemma.zhang said:
    now that house we pulled out dropped asking price by 50k and still on the market.
    This one could quickly drop below 700k if rates move up IMO.
    Wow! If interest rates rise you are predicting a 25% price crash in London house prices?!?!
    Of course your "In My Opinion" has been completely and utterly wrong since you joined this site all those years ago but let's revisit this latest prediction of your's next year... ;)
    MsACam said:
    In past two months we tried to buy two other houses nearby and bid same price as for this one as they were very similar and we were outbid.
    In your shoes I'd extend my search area to see if there's anything just as suitable and/or better value. Buying the most expensive house in the area may not be the best plan if you are having to borrow 75% of the money to do so.
    Of course it's easy for me to say this as I don't know your personal circumstances or why as a FTB you want to spend so much money in a particular part of London. However as you only recently made offers on other nearby houses it's clear that this particular one is not your dream home so maybe if you look further afield you'll find something that is?
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    lookstraightahead said:
    Personally I would pull out.
    Best advice really.
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