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Should I buy or Should I not? Need help!!!
Alterbridge
Posts: 1 Newbie
Hey everybody,
Please help. My mind is frazzled. Supposed to be buying a home under the the right to buy scheme. For those that do not know about this scheme. It is where you can buy the council property you already live in at a reduced rate. Now I have been given a good price for the size of the property and land that comes with it. I am definately on to a winner. But do I buy the property now or hang out that bit longer and see if I can get it even cheaper. Need advice. Will the house prices drop? Will I get a better mortgage deal than the one I have already been offered? because of the way things are with the housing market. Martin, somebody, heeeeeelp!!!!
Please help. My mind is frazzled. Supposed to be buying a home under the the right to buy scheme. For those that do not know about this scheme. It is where you can buy the council property you already live in at a reduced rate. Now I have been given a good price for the size of the property and land that comes with it. I am definately on to a winner. But do I buy the property now or hang out that bit longer and see if I can get it even cheaper. Need advice. Will the house prices drop? Will I get a better mortgage deal than the one I have already been offered? because of the way things are with the housing market. Martin, somebody, heeeeeelp!!!!
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Comments
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No one can answer this for you. If someone could authoritatively predict the future direction of house prices, the stock market, or interest rates they would be a millionaire.
If you like the house, you feel you can afford it, and you think you are getting a good discount to the full market price, then what is holding you back?0 -
noone knows for definite but my guess is that both will happen
ie: house prices will drop and it will be harder to get a mortgage
what you should do personally depends on your circumstances, have you got cash squirrelled away, do your have any loans/outstanding credit cards/ what's your credit score like/ do you work - and what's your job (recession proof?)0 -
what exactly is a recession proof job?
not even the PM's is ...0 -
What would your mortgage be compared to your rent if you went for it now?
I'd say one of the two things you suggest is likely to happen. We can argue about which, but it's fairly certain that *either* mortgages will get cheaper again, *or* prices will fall.
What are your long-term plans? If they're to stay there, waiting a while seems unlikely to do any harm. If they're eventually to sell up and move on, then obviously the sooner you buy, the sooner the tie-in is over.Hurrah, now I have more thankings than postings, cheers everyone!0 -
teacher is the classic example
nurse/doctor, police, inland revenue... prime minister is recession proof until he has to call an election! :rotfl: basically any job that always needs doing no matter how poor people get.0 -
hmmm... If only no cuts were ever made to public services. Oh wait :rolleyes:0
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