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advice on timescales to buying a house

bishbasher
bishbasher Posts: 2 Newbie
in House buying, renting & selling
Hiya

I may be moving out of home soon and what with the current situation on the housing market I'm not sure how long to wait before I buy. I will be trying to save and rent until the right time to buy. I don't have enough savings at the mo anyway so thats a good thing!!

Does anyone have any inside info (ie estate agents!) on what may be happening with the housing market? when wld b a good time to look at buying etc.

Any advice would be fab! :j

Comments

  • chickmug
    chickmug Posts: 3,279 Forumite
    Even EA's will not know what will happen. Many make predictions and after the event half will have been right and the other half wrong. I have sat with experts from leading banks giving their points of view and it is really funny when differing experts argue with each other and offer opposite opinions.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • Bogof_Babe
    Bogof_Babe Posts: 10,803 Forumite
    An EA told me this morning that he reckons this is about as low as it will get, and prices will be on the way back up very soon. Mind you that could be because he was trying to get me to up my offer on a property he's trying to shift ;) .
    :D I haven't bogged off yet, and I ain't no babe :D

  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I don't plan to buy before 2011. Probably 2013 is more likely.
  • Jorgan_2
    Jorgan_2 Posts: 2,270 Forumite
    The simple answer is nobody knows what will happen to the housing market, how bad it could be or how long it will take to recover. All you will get is opinions, not hard facts.
  • chickmug
    chickmug Posts: 3,279 Forumite
    PasturesNew wrote: »
    I don't plan to buy before 2011. Probably 2013 is more likely.

    That's what I call forward planning!!!!!!!!!!!!!!!!!!
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • ursidae
    ursidae Posts: 3 Newbie
    PasturesNew wrote: »
    I don't plan to buy before 2011. Probably 2013 is more likely.

    What he says.

    2009/10 is going to be a bloodbath as far as property is concerned and it will probably bottom out around 2012. Be patient, save that BIG deposit, you'll need it!
  • kunekune
    kunekune Posts: 1,909 Forumite
    She says.
    Sexist. Sensible stuff can come from women, you know.
    Mortgage started on 22.5.09 : £129,600
    Overpayments to date: £3000
    June grocery challenge: 400/600
  • ursidae
    ursidae Posts: 3 Newbie
    kunekune wrote: »
    She says.
    Sexist. Sensible stuff can come from women, you know.
    Wow, that's an unbelievably tactless way of putting things. Everyone makes mistakes, and to the lady in question I apologise but certainly not to you as you obviously have no sense of humor.
  • Zammo
    Zammo Posts: 724 Forumite
    bishbasher wrote: »
    Hiya

    Does anyone have any inside info (ie estate agents!) on what may be happening with the housing market? when wld b a good time to look at buying etc.

    Any advice would be fab! :j

    We're about 18mnths behind the American market and it's absolute carnage over there. My advice would be to wait another few years before buying and to concentrate on getting a good deposit together to secure the best rate for a mortgage. !00% mortgages are no more.
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