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Best Advice: hold off for 6 months?
cells
Posts: 5,246 Forumite
For anyone who is thinking of buying, would the best advice be to wait 4-6 months.
within 6 months time it will be clear if we are going into a massive crash or not. in that time it will be unlikely prices will go up (considering the small falls of the v.recent past)
so you cant really lose much waiting just 4-6months yet you could gain massively!
My advice for all, just wait 6 months and dont gamble the next 25 years of your life on there not being a crash. it has happened before, it may happen again. so just wait 6months
simple reall :beer:
within 6 months time it will be clear if we are going into a massive crash or not. in that time it will be unlikely prices will go up (considering the small falls of the v.recent past)
so you cant really lose much waiting just 4-6months yet you could gain massively!
My advice for all, just wait 6 months and dont gamble the next 25 years of your life on there not being a crash. it has happened before, it may happen again. so just wait 6months
simple reall :beer:
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Comments
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This may be good advice for anyone thinking of selling, too.Trying to keep it simple...
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If you can get the funds, now could be a really good time to be a buyer. Unlike 2 years ago, everything has swung around to be a buyers market. Only time will tell, if things are better/worse in 6 months time. I am thinking of moving to a new place, in 3 months time, and I won't be waiting just to see what happens. If you're talking about FTB in particular, then yes, I'm more inclined to agree... but they could still grab a good deal, find a seller who really really needs to sell etc.0
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barrymoney wrote: »Unlike 2 years ago, everything has swung around to be a buyers market.
how could now be a buyers market and 2 years ago a sellers market when prices are higher now?
a buyers market is not just before a crash thats a fools market0 -
how could now be a buyers market and 2 years ago a sellers market when prices are higher now?
a buyers market is not just before a crash thats a fools market
Well, we'll see. I just think a buyer could get a good discount now (though not a 25% 'crash' value), especially if they are in a genuinely good position to proceed, and the seller needs to sell quick.
It will be an interesting summer thats for sure, watching the government/banks trying to stabilise things - I have no idea if they will succeed.0 -
6 months? Try 6 years.
Anyone that thinks the market will be at its lowest in 6 months time needs their head examining. Remember that a lot of people are on fixed rate mortgages which won't be ending for years yet. When those fixed rates end that will be when the repossessions peak, which in turn will be when the prices are at their lowest = the right time to buy.
Rob0 -
6 months? Try 6 years.
Anyone that thinks the market will be at its lowest in 6 months time needs their head examining. Remember that a lot of people are on fixed rate mortgages which won't be ending for years yet. When those fixed rates end that will be when the repossessions peak, which in turn will be when the prices are at their lowest = the right time to buy.
Rob
But surely, not EVERYBODY got those fixed-rate deals at exactly the same time. The end dates will be staggered so I can't see this repossessions peak you predict. There will never be a right time to buy for everybody as a whole. Personally I think each individual has their own 'right time'! :rolleyes:I may be shy, but that doesn't make me an angel0 -
how could now be a buyers market and 2 years ago a sellers market when prices are higher now?
a buyers market is not just before a crash thats a fools market
but now is a buyers market, prices in our area have already dropped 10+% since last spring, if not more. will they keep dropping? i expect so...
buyers are in the perfect situation now to negotiate heavily on price, whereas a year or two ago most sellers expected to get the full asking price.
this crash that everyone talks about, it's happening now. it won't happen on one particular day but over a period of time. noone knows the time-frame though, you can only look at historical time patterns of how long it will last.
don't forget... past performance is no guide to the future!0 -
If everyone considering buying holds off 6 months, then there will be a crash!
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never understand the logic in this if you already own property..If prices fall the property your selling is falling as well as what your buying so what exactly have you gained??0
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how could now be a buyers market and 2 years ago a sellers market when prices are higher now?
a buyers market is not just before a crash thats a fools market
A fool is someone who can only see a house as a pile of cash, rather than a lifetime home...
Owning your own home is priceless. For everything else there's Barcleycard...Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0
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