Fed up of housing market

F37A

Hi 

Any one in the same boat? I'm FTB with out substantial inheritance from bank of mum and dad. Have been looking post covid 19 so probably one of the worst times in history. I am 3.5 years in with many many failed purchases. I think to fully understand the market and real estate in general will take a while for ones education especially if nobody to help you. I am close to exchange finally hopefully it goes through. 

I'm so exhausted by process i don't know what to do once i have the damn thing. My career has suffered and relationships as well as i've been so busy with property and other pursuits. I don't like gambling and want to educate myself before investing that's me so has taken me longer. 

RHemmings

I'm sorry to hear that. In some ways I'm sort of like you but at a much earlier stage. Failed purchases is something I'm really concerned about. 

Just today I've been thinking about how house purchases are starting to fill my mind and distract me from both work and life.

I hope things go better for you from now on. In all ways. 

Herzlos

Don't worry too much about the process, it's just a house at the end of the day.

Work on your career and relationships, keep an eye out for suitable places and view/bid as they come up.

MikeJXE

F37A said:

Hi 

Any one in the same boat? I'm FTB with out substantial inheritance from bank of mum and dad. Have been looking post covid 19 so probably one of the worst times in history. I am 3.5 years in with many many failed purchases. I think to fully understand the market and real estate in general will take a while for ones education especially if nobody to help you. I am close to exchange finally hopefully it goes through. 

I'm so exhausted by process i don't know what to do once i have the damn thing. My career has suffered and relationships as well as i've been so busy with property and other pursuits. I don't like gambling and want to educate myself before investing that's me so has taken me longer. 

You have a lot to learn and getting stressed won't help

I'm 82 and bought and sold 10 homes  in my lifetime 

If you think buying your first is stressful wait till you try to sell it and buy your second 

Flugelhorn

I have bought 2 since covid started -  quite straightforward and probably easier than previous times

[Deleted User]

The market is pretty awful at the best of times, and being an FTB doesn't make it easier.

comeandgo

You said you wanted to educate yourself before investing, I think that’s your problem, treating your home as an investment.   

gemma.zhang

It’s not just for first time buyer. Same with us who has bought and sold & bought before.

Similarly we have taken 3 years with a small break in the middle. Talking to many friends, who hasn’t had a few failed purchase before getting there. Some r luckier some r less. But eventually you will be there. It’s a grow up process. 

Be proud of yourself and celebrate the success.! 

EssexHebridean

I think it's always stressful - at least for anyone who is buying or selling a home rather than an investment property (where the feeling may well be more akin to - Oh well, that one didn't work out, on to the next) and who understands the process even at al. And possibly, the more you understand the process the more stressful it is, as you have a more clued-up vision of all the things that CAN go wrong! 

Try not to get more stressed than you can possibly avoid, is my best bit of advice. As much as you may have your heard set on a property to an extent holding onto a mentality of "if it doesn't work out, then it wasn't meant to be" does help a little.  I would say though that "many" failed purchases for a FTB is probably a little unusual - and if anything should go wrong with the one you are working through now, then it is probably definitely time to stop, get off the wheel for a bit, and properly analyse why all the previous ones have fallen through and whether there was anything you could have done to avoid it. 

Good luck with getting your current purchase over the finish line! Trust me, it IS worth all the stress when you finally move into your new home! 

F37A

Thanks. On reflection i am a special case in that i have certain considerations that others don't have and also that i'm very risk averse and the bad press on leasehold hasn't helped as well as house prices and Liz truss antics. Buying any property isn't a problem its just buying the right property takes time. I hate buying something if i don't understand everything about it.

F37A

Flugelhorn said:

I have bought 2 since covid started -  quite straightforward and probably easier than previous times

Indeed everyone's situation is different and i could have bought earlier.  I am very risk averse and perhaps too much of a perfectionist, i'm not a cash buyer, there's no mum or dad to help. There are many that jump in and make the wrong decision. I've saved alot of money because ive not jumped in.