Are There Still any FTB's out there??

epz_2

i was but even i cant justify it at the moment as mortgage rates are too uncompetitive and the cost of petrol is a major concern. i dont really want to live near my work but may need to move, there is no chance i am buying there though.

runicfire

FTB here, just bought a 3 bed house - we were going to put off looking for the next year or even two, but the prices up here aren't so bad and we got the house we wanted well within our affordability (we were renting at £700 per month for small 2 bed flat, mortgage on our 3 bed house is £600)

It is a new build, but the development is quite small and fits into the area nicely, part of a regeneration of the whole area. And when we reserved the house a month ago we had a choice of about 7 smiliar houses - now within a month all are sold, so some people are buying!

Summer1969

nicksta27 wrote: »

My house has been on the market for just over a week now (not long I know).

We have had plenty of viewings, but not 1 single first time buyer! Are there any still out there buying at the moment?

We are priced just under the stamp duty level £125,000.

How are other sellers getting on?

Think yourself lucky, our flat has been on the market since Easter...not one viewing! And I have dropped the price twice, and its a really nice flat, in a good location, that if I had sold this time last year, would have gone really quickly (I have been here 9 years and have seen how quickly similar flats in my road have sold). I didn't sell las t year as there was a £4k early redemption penalty, I have lost a lot more than that already with the price reduction, oh hindsight is a wonderful thing! You have to laugh.........:rolleyes::D Estate Agent said there are hardly any first time buyers around at the mo...we are just going to have to sit tight and see what happens.

Fuchsia_a

I would be a FTB but I'm lurking to see what happens. Most of the properties I've been watching online have had their asking prices reduced by £10-£20k since January and one's been reduced by a whopping £50k.

Can't see much point in buying now when I could be saving that much again in another six months; it's more than I earn! I'll be waiting until prices have dropped to what is historically and statistically a slightly more sensible level.

lostinrates

Trying_really_hard wrote: »

Oooo, going to look at my first house on Sunday. I'm so excited. It ticks all the boxes so far.

Quick question to all those who have been FTBs or just buyers in general, what do you actually do at a viewing (other than view)? Is the vendor generally there? Do you wait outside for the agent or knock on the door? (Don't laugh).

I know these are really basic questions but I have NO idea so any inklings would be great.

Its hard not to get excited isn't it.

If the house has a floor plan I photocopy it bigger to take with me. In real life the floor plan often 'feels' different. We have some inherited furniture and some things we've gathered that are important to us that they fit in, so we look at thee on the floor plan then in REAL LIFE. If there is no floor plan I sketch one as we walk round, roughly, to look at later and to make sure I understand the lay out.

Jorgan_2

Trying_really_hard wrote: »

Oooo, going to look at my first house on Sunday. I'm so excited. It ticks all the boxes so far.

Quick question to all those who have been FTBs or just buyers in general, what do you actually do at a viewing (other than view)? Is the vendor generally there? Do you wait outside for the agent or knock on the door? (Don't laugh).

I know these are really basic questions but I have NO idea so any inklings would be great.

I assume you have researched the area as you are viewing the property, so you know the good & bad points of the location.

The best thing to do is get a feel for the property, when you walk does it feel comfortable, welcoming? etc Can you imagine yourself living there? You will know very quickly if the place goes on the potential list or the forget list.

Take a good look at the property, its over all condition, a room may look very well presented when you first walk into it, but on closer inspection it may be a fur coat & no knickers job.

With regards to the what questions you want to ask, whats important to you? Location of stations/bus stops? Low running costs - is it on a water meter (usually works out cheaper for a single person or couple than a family of five). What are gas & electic bills like, it gives you an idea of the costs involved. Council tax. If its lease hold, what charges are involved & what exactly is covered.

Try & see as many properties as possible, so you can make comparisons.

nicksta27

Summer1969 wrote: »

Think yourself lucky, our flat has been on the market since Easter...not one viewing! And I have dropped the price twice, and its a really nice flat, in a good location, that if I had sold this time last year, would have gone really quickly (I have been here 9 years and have seen how quickly similar flats in my road have sold). I didn't sell las t year as there was a £4k early redemption penalty, I have lost a lot more than that already with the price reduction, oh hindsight is a wonderful thing! You have to laugh.........:rolleyes::D Estate Agent said there are hardly any first time buyers around at the mo...we are just going to have to sit tight and see what happens.

Well, have secured a cash buyer for our property and have negotiated a good price for the next one which is empty, so fingers crossed it shouldn't take too long now!

sarah_elton

nicksta27 wrote: »

My house has been on the market for just over a week now (not long I know).

We have had plenty of viewings, but not 1 single first time buyer! Are there any still out there buying at the moment?

We are priced just under the stamp duty level £125,000.

How are other sellers getting on?

I live in a flat. I'm still getting adverts through to door from EAs in my town saying "We have several first time buyers on our books looking for a property like yours." So apparently they are out there, yes.

:rolleyes:

:rotfl:

sarah_elton

Trying_really_hard wrote: »

Oooo, going to look at my first house on Sunday. I'm so excited. It ticks all the boxes so far.

Quick question to all those who have been FTBs or just buyers in general, what do you actually do at a viewing (other than view)? Is the vendor generally there? Do you wait outside for the agent or knock on the door? (Don't laugh).

I know these are really basic questions but I have NO idea so any inklings would be great.

Usually the vendor will show you round. If it's unoccupied, or the vendor really doesn't want to, it'll be the EA.

When you phone the EA to arrange a viewing, they should give you the name of the seller who you'll meet ("it's with a Mr or Mrs XXX"). Or say "I'll meet you there").

If it's the vendor, just ring the bell. If it's the EA, wait till they show up with the key.

On the viewing; look really carefully at everything - state of decor etc. Look at plug sockets (are they really wonky or half hanging off), light switches (the number I've seen that have been painted while someone's decorating!!), flooring edges (does wooden flooring go neatly up to the wall?), kitchen/bathroom (quality? how new?).

Ask as many questions as you can - council tax band, whether utilities are metered, noise (if it's a flat), area. If you see anything suspicious (e.g. damp patch on ceiling), ask about it. People will probably lie but it's worth a try.

If you like a place, always do a second viewing and take someone with you. If you love a place, you'll be a bit blinded to all the little faults that add up. Take someone with a keen eye, and preferably someone negative who's trying to put you off buying. They'll point out every tiny crack. Make a note of absolutely everything wrong you can find and use it to negotiate.

sarah_elton

Jorgan wrote: »

it may be a fur coat & no knickers job

What's wrong with that? My bf seems to like it.