want to get out of parents

tiger135

Niv said:

tiger135 said:

Well I have decided to wait before buying I'm going to keep 200k set aside ( earning 500 interest a month) for the purpose of buying when the time.is right , It could be a year or 2 before anything I want comes up.
In the mean time my options have reduced to:
1. Staying at parents beyond 42 (10 weeks time) which I find unacceptable to my own mind.
2. Lodging with friend or work colleague , cheap option but still living with other people say £500 a month all inc
3. Private rental furnished  one bedroom £900-1200 a month plus bills , only saving grace is I know it won't be long term
4. Air BnB £1500-2000 a.month all inc if I can find a suitable one 
For options 2-4 I know I will have to try and justify it to my mother who seems to think that any form of renting is making someone else rich. 
It's like the only acceptable way , to them, for me to leave is to be buying somewhere. 
Any more ideas welcome , all the motivation helps for sure. 

How do you define that to yourself? (Hint there is no wrong answer but you should have a personal criteria to define when its right for you).

There are posters on here that sold about a decade ago to rent while waiting for house prices to 'crash' which they haven't in that time so are likely to be either priced out now or it costing them a lot more than if they had just bought in the first place.

If you are waiting for a 'crash' what does that even mean? Its a word banded about on here a lot but most people have their own definition of what a crash actually is. 

to niv i define thst when a specific sort of property comes up in one of my 5 small areas. maybe 2-3 a year i see them. 

CSI_Yorkshire

tiger135 said:

Niv said:

tiger135 said:

Well I have decided to wait before buying I'm going to keep 200k set aside ( earning 500 interest a month) for the purpose of buying when the time.is right , It could be a year or 2 before anything I want comes up.
In the mean time my options have reduced to:
1. Staying at parents beyond 42 (10 weeks time) which I find unacceptable to my own mind.
2. Lodging with friend or work colleague , cheap option but still living with other people say £500 a month all inc
3. Private rental furnished  one bedroom £900-1200 a month plus bills , only saving grace is I know it won't be long term
4. Air BnB £1500-2000 a.month all inc if I can find a suitable one 
For options 2-4 I know I will have to try and justify it to my mother who seems to think that any form of renting is making someone else rich. 
It's like the only acceptable way , to them, for me to leave is to be buying somewhere. 
Any more ideas welcome , all the motivation helps for sure. 

How do you define that to yourself? (Hint there is no wrong answer but you should have a personal criteria to define when its right for you).

There are posters on here that sold about a decade ago to rent while waiting for house prices to 'crash' which they haven't in that time so are likely to be either priced out now or it costing them a lot more than if they had just bought in the first place.

If you are waiting for a 'crash' what does that even mean? Its a word banded about on here a lot but most people have their own definition of what a crash actually is. 

to niv i define thst when a specific sort of property comes up in one of my 5 small areas. maybe 2-3 a year i see them. 

Sounds like you've got a strong set of criteria then.  Conditions are such that you can afford to wait until they're met - if you can find a good solution to the interim.

I don't know if you've reached a conclusion, but I'd be looking at options 2 & 3 from your list.  And ignore your mother.

Simonon77

Someone with good income and benefiting from rising interest rates shouldn`t be buying property now, that just doesn`t make sense at all. People rushed to buy during the stamp duty holiday because they thought they would be "priced out", can you imagine how many of them are feeling now as their fixed rates come to an end?

Or all the people who bought on a 5, 7 or 10 year fix who have a nice low mortgage rate for years to come with no worries about it coming to and end, and actually own somewhere rather than wasting their money on rent? 

Niv

Sarah1Mitty2 said:

Niv said:

tiger135 said:

Well I have decided to wait before buying I'm going to keep 200k set aside ( earning 500 interest a month) for the purpose of buying when the time.is right , It could be a year or 2 before anything I want comes up.
In the mean time my options have reduced to:
1. Staying at parents beyond 42 (10 weeks time) which I find unacceptable to my own mind.
2. Lodging with friend or work colleague , cheap option but still living with other people say £500 a month all inc
3. Private rental furnished  one bedroom £900-1200 a month plus bills , only saving grace is I know it won't be long term
4. Air BnB £1500-2000 a.month all inc if I can find a suitable one 
For options 2-4 I know I will have to try and justify it to my mother who seems to think that any form of renting is making someone else rich. 
It's like the only acceptable way , to them, for me to leave is to be buying somewhere. 
Any more ideas welcome , all the motivation helps for sure. 

How do you define that to yourself? (Hint there is no wrong answer but you should have a personal criteria to define when its right for you).

There are posters on here that sold about a decade ago to rent while waiting for house prices to 'crash' which they haven't in that time so are likely to be either priced out now or it costing them a lot more than if they had just bought in the first place.

If you are waiting for a 'crash' what does that even mean? Its a word banded about on here a lot but most people have their own definition of what a crash actually is. 

Someone with good income and benefiting from rising interest rates shouldn`t be buying property now, that just doesn`t make sense at all. People rushed to buy during the stamp duty holiday because they thought they would be "priced out", can you imagine how many of them are feeling now as their fixed rates come to an end?

I didn't say the OP should buy now.
I didn't say it makes sense to buy now
I didn't suggest anyone rush to buy

I said that the OP needs to have a personal definition of 'when the time is right' - which I stand by. 

Crashy - I believe you also have a personal definition of when the time is right - which is great, its not 'right' or 'wrong' it is 'right for you'. It may change, it may not.

ItisHappening

ONS have just published property transactions for April and is down 29% in March. 

Where is this spring bounce back 
A 

Sarah1Mitty2

Many trying to sell now will really struggle.

Sarah1Mitty2

CSI_Yorkshire said:

ItisHappening said:

ONS have just published property transactions for April and is down 29% in March. 

Very clever, describing the volume of transactions and hoping people will think that it's price.

How many hats does crashy have?

Why would people think that? Volume is the amount of sales, price is the amount of the average sales price, volumes are closely tied to price though as volumes tend to drop before prices do and this is why the OP should hang on and keep saving..

ItisHappening

Sarah1Mitty2 said:

CSI_Yorkshire said:

ItisHappening said:

ONS have just published property transactions for April and is down 29% in March. 

Very clever, describing the volume of transactions and hoping people will think that it's price.

How many hats does crashy have?

Why would people think that? Volume is the amount of sales, price is the amount of the average sales price, volumes are closely tied to price though as volumes tend to drop before prices do and this is why the OP should hang on and keep saving..

Here is a snippet from a article I was just reading which I believe is so relevant.

The number of transactions in March was high due to a combination of factors including a larger number of working days relative to April and the final month for purchases to be completed under the government’s Help To Buy Equity Loan Scheme.

I think this is another leading indicator that it is all downhill from here.

Sarah1Mitty2

ItisHappening said:

Sarah1Mitty2 said:

CSI_Yorkshire said:

ItisHappening said:

ONS have just published property transactions for April and is down 29% in March. 

Very clever, describing the volume of transactions and hoping people will think that it's price.

How many hats does crashy have?

Why would people think that? Volume is the amount of sales, price is the amount of the average sales price, volumes are closely tied to price though as volumes tend to drop before prices do and this is why the OP should hang on and keep saving..

Here is a snippet from a article I was just reading which I believe is so relevant.

The number of transactions in March was high due to a combination of factors including a larger number of working days relative to April and the final month for purchases to be completed under the government’s Help To Buy Equity Loan Scheme.

I think this is another leading indicator that it is all downhill from here.

End of HTB is another advantage for someone like the OP who has low housing costs and the ability to save/invest a lot.

tiger135

ok well i dont think i have enough to buy anything suitable mortgage free right now. so i will need a mortgage when the time comes.
in the meantime as mentioned in other discussions the rental market has gone up as there are less available.
both these factors are pressuring me to carry on lodging.