Postive thread about buying now!

halia

Why I am buying now and why I am NOT negotiating hard/ letting my dream house go when they dont' reduce it by 20%/ waiting for a year to see if prices drop even further.

because if prices drop for buying they will drop for selling as well
because I haven't a crystal ball and therefore have no guarentee of being able to 'time it right' anyway
because we put quality of life above making/saving an additional £5-10k
Because we can easily afford mortgage payments even if interest rates double
Because we will be buying with a MINIMUM 60% deposit so not that worried about negative equity
Because I want to be closer to my family now so my dad doesn't miss out on 2 years of taking his grandson to the allotment
Because we want a puppy for DS and can't have one in our current house (not suitable outside space)
because moving in the next 6-12 months ties in with school starting/changing dates for DS
because having got the house ready for sale (ie fresh coat of paint) I really don't want to have to do it again in 6 months or even KEEP redoing it every 6 months so it looks fresh for viewings. (sticky toddler and pets= need to repaint)
Because I'm moving for a long term home for my family (10-20 years)
Because I don't look to maximise monetry returns at the expense of a joyful life

anyone else?

Kez100

Your thread title is inaccurate.......you are selling and buying?

Very different from just buying. Also, you have to find a buyer.......they will be negotiating hard even if you are not bothered in doing so.

Zammo

If you're selling and buying a similar property it doesn't matter what prices do.

If you're just buying you're a complete moron.

mr.broderick

halia wrote: »

Why I am buying now and why I am NOT negotiating hard/ letting my dream house go when they dont' reduce it by 20%/ waiting for a year to see if prices drop even further.

because if prices drop for buying they will drop for selling as well
because I haven't a crystal ball and therefore have no guarentee of being able to 'time it right' anyway
because we put quality of life above making/saving an additional £5-10k
Because we can easily afford mortgage payments even if interest rates double
Because we will be buying with a MINIMUM 60% deposit so not that worried about negative equity
Because I want to be closer to my family now so my dad doesn't miss out on 2 years of taking his grandson to the allotment
Because we want a puppy for DS and can't have one in our current house (not suitable outside space)
because moving in the next 6-12 months ties in with school starting/changing dates for DS
because having got the house ready for sale (ie fresh coat of paint) I really don't want to have to do it again in 6 months or even KEEP redoing it every 6 months so it looks fresh for viewings. (sticky toddler and pets= need to repaint)
Because I'm moving for a long term home for my family (10-20 years)
Because I don't look to maximise monetry returns at the expense of a joyful life

anyone else?

Halia there won't be many members here who would disagree with you buying at the moment, it's the first time buyers with low deposits who shouldn't buy.

danksybaby

Zammo wrote: »

If you're selling and buying a similar property it doesn't matter what prices do.

If you're just buying you're a complete moron.

in your opinion........you cant call someone a moron just because they are buying a house for god sake.

im a FTB and will have a 10% deposit by august at which i hope to buy a house and i am no moron.i know what im doing but with the press scaremongering and people like you emphasizing (sp) what they say is pathetic.who can guarantee what the houses are going to be like in a years time????

budget_counsellor_shaz

We put in an offer about 20% below the original asking price and we have now agreed a price of about 17% below the original asking price. This price is less than what similar houses sold for over 2 years ago.


We have nothing to sell we have been living with family since last August.


Although I think that the property prices will drop further...... we are in our 40's and need our own place again.

For some people it will be best to wait, for others it may be time to buy.:rolleyes:



It is definately a buyers market at the moment.;)

Captain_Mainwaring_2

danksybaby wrote: »

in your opinion........you cant call someone a moron just because they are buying a house for god sake.

im a FTB and will have a 10% deposit by august at which i hope to buy a house and i am no moron.i know what im doing but with the press scaremongering and people like you emphasizing (sp) what they say is pathetic.who can guarantee what the houses are going to be like in a years time????

Well i'd also agree that it isn't apt to call someone a moran because they want to buy, particularly when they have 60% deposit, they can't be that thick.

However, people's comments on the "crash" is not pathetic, as the bubble wasn't pathetic for those who sold in it.

As I have said elsewhere, negative equity isn't important and is only a short term affliction so long as you have the money to pay the mortgage, so far interest rates are easy, but there is a good chance that they will rise.

gingin_2

budget_counsellor_shaz wrote: »

We put in an offer about 20% below the original asking price and we have now agreed a price of about 17% below the original asking price. This price is less than what similar houses sold for over 2 years ago.


We have nothing to sell we have been living with family since last August.


Although I think that the property prices will drop further...... we are in our 40's and need our own place again.

For some people it will be best to wait, for others it may be time to buy.:rolleyes:



It is definately a buyers market at the moment.;)

That's interesting and pretty much what I would hope to get at this time. It sounds like you have got a good deal . Like you, whilst getting a percentage reduction buying a property at a discounted rate from previous years is more significant. As ftb's I would hope to get 2006 prices now, but in 2 - 3 years when we plan on buying I hope we can get sub 2003 prices.

silvercar

As ftb's I would hope to get 2006 prices now, but in 2 - 3 years when we plan on buying I hope we can get sub 2003 prices.

Predicting the low point is difficult, sentiment can change quickly. Once the crisis bottom's out who knows how quickly prices will rise?

I would prefer to buy while it is a buyers' market and sellers are only too pleased to grab a sale than feel pressurised to buy for fear of missing the boat once prices start to increase.

BACKFRMTHEEDGE

silvercar wrote: »

I would prefer to buy while it is a buyers' market and sellers are only too pleased to grab a sale than feel pressurised to buy for fear of missing the boat once prices start to increase.

That is soooooooo true. When we bought our last house we still had people trying to gazuump us 6 weeks in to the buying process. There was barely any time to think. We needed to move (we had growing kids) and you just leap and buy what's out there at what ever the cost.

Captain_Mainwaring_2

jeepjunkie wrote: »

I would add this... Buy when the time is right for you. Everyones circumstances and finances are different. Do not make the mistake of listening to a bunch of sour people who wish down prices cos they missed out Yes some houses will drop in price but that's probably because they're dros and just rode the trend...

Very bitter, you obviously lost out. I wish house prices down for the same reason others wished them up - call it what you will. I'm probably worse becuase I'd like to see interest rates hit 14% and really separate the men out from the boys.