We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
should i sell my house and buy new one or should i wait.
Options

fletcher1985
Posts: 453 Forumite


hi thanks for reading. i currently have a house and would like to move back to my house town to be closer to family, i know house prices are high at the moment which is good for selling but not so good to buy. so my question is do you think house prices will start to drop again or should i just go for it.
0
Comments
-
But if you currently own then if house prices drop you will get less for your current home - so high house prices/drop in house prices have less of an impact surely?0
-
Thats what i thought.0
-
It's all relative .. makes no odds .. if price drops then so your house will be worth less, the house you will buy will also cost less
people move house for their own personal reasons0 -
My scenario is this, my house is worth £290k, new house is worth £320k. If i sell for £290k, I'll have made an equity increase (profit) of £85k. So if my new house falls to £235k, I've not lost out. Hope that makes sense.0
-
Buying and selling fees will take a chunk out of those numbers, then there's the cost of your time and hassle of buying and selling - to make this a value for money exercise everything has to run smoothly.
How long have you been at your current house ?
Your new house won't drop from 320k to 235k though, no house would, that's a large reduction for a homeowner to make.0 -
Remembering in the late 80s early 90s when there were significant price drops, that people whose properties were suddenly "worth" less ie lost a lot of their own savings or were in negative equity, simply didn't sell and move on - people only did if they really needed to.0
-
If you a sure you want to make that move, then I vote go for it. It’s impossible to time the market plus increases interest rates might negate the savings you might make on house values.Are you looking to jump up value wise when you move?0
-
[Deleted User] said:
Your new house won't drop from 320k to 235k though, no house would,0 -
mayling03 said:My scenario is this, my house is worth £290k, new house is worth £320k. If i sell for £290k, I'll have made an equity increase (profit) of £85k. So if my new house falls to £235k, I've not lost out. Hope that makes sense.
0 -
I think it depends on the type of property you sell, and then the type of property you buy. In our area, the mid size houses are fetching more percentage wise than bigger houses or flats. It also depends on the area. Increases across the country are obviously average so it does depend what the market is doing in both your current area and the one you are going to.
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards