Anyone buying a house right now?

PasturesNew

kittie wrote: »

The bad times won`t last that long and there will be a mad scramble for homes

You don't hang out on this board often do you.

"We're doomed" is the most general concensus.
Followed by:
"Slow recovery"

There won't be a mad scramble for homes when the rug's been pulled from under the feet of so many.

sazzy6

LCK73 wrote: »

I've read your thread earlier, didn't realise you were Grange over Sands based.

Have you spent long in Grange yet? You looking to buy in Grange, only ask as I think you may find Kendal a bit more 'happening' than Grange? Grange is lovely but as a 25yr old, Kendal might be more interesting. Hope you don't mind me suggesting that....!

It'll be interesting to hear people's reaction to the 'Lake District' being insulated from radical price drops eh....

Thanks

I have lived in Grange all my life so I am now moving out to Leyland. More life, lower prices!
Grange is nice to look at but... Well you know better than most!

andys15

We are completing next week. In week and a day, I will be laying a lovely new wooden floor, followed by decking the garden, converting the garage, new settee. Doing up both the kids bedrooms and whatever else we feel. We have been renting for the past 4 years and we cant wait.

LCK73

sazzy6 wrote: »

I have lived in Grange all my life so I am now moving out to Leyland. More life, lower prices!
Grange is nice to look at but... Well you know better than most!

Good luck on your house hunt in Leyland, when you decide the time is right (which it seems not to be right now!). For sure, Leyland and Preston will have much more going on than Grange and Kendal together.
We are looking to move to nearer Penrith, some say we're mad.....happy to go on lifes next adventure further north.

mrsukyankee

We have sold our flat (exchanging tomorrow according to all words from solicitors)...and we want to buy a house closer to my ILs as they are getting quite old and need the nearby support. We already know that there aren't many people looking in this area as the EAs that we've worked with seem desperate to get us in to see properties and to respond to them. We're not in a rush as we can move in with the ILs for a period of time (please god not too long), but we've already seen a few price drops on the properties we like, so we have good feelings about this. We'll have a good bunch of money to put down and to use to work on properties and won't take out even close to the middle limit that we could get for a mortgage. This will be a long term house for us.

markandjayne

We really want to move
OH has been looking for about 5 years
we want a bigger garden and more room downstairs in Leeds for our growing 3 kids - but in the same area
Up until now the price difference between our house and moving to something bigger has been massive!
Feels like while prices are falling, it is a good idea to move up to a more expensive property - if (big if) we can sell!
Maybe rent for a little while if we can sell

neverdespairgirl

LCK73 wrote: »

Thanks for rental idea. Probably could rent, but the rent would be the same as my mortgage payment. I'm lucky enough to own outright a property already so I'll rent that and get income from it to subside my new mortgage - kind of makes sense to me but I might be wrong and not thought through all the possibilities.....thanks

Ouch - there is a real risk here you could be saddled with 2 houses that are dropping in value fast!

hostman

May be buying late 2008 or early 2009.

Meanwhile my deposit is increasing and properties are reducing, so its all good

hostman

PasturesNew wrote: »

If you look here, it seems to have taken longer to recover from the last crash:
http://www.hbosplc.com/economy/includes/19_01_08PostTownsData3.xls

That is fantastic data.

Looking at my town, Luton, the peak was 1989 at £66,072 and took until 1998, nine years, when they reached that peak again.

wrightstar

Im buying right now. see my other threads to see how messed about we've been!!!
cant wait to own my own home.
im acouncil tenant and Im recieving a great incentive to leave my flat and buy.
Its only valid for 3 months so i have to go for it now.
im not bothered by this credit crunch scare mongering. im buying a home to live in, not to re-sell and make money.
im sure the prices will rise again some time in the future, wether its 10 years or 20 it will eventually happen.
Im of course worried about mortgage interest rates risining but theres nothing we can do about that. I have the choice to stay in a grotty flat in a run down crime infested council estate and raise my daughter there, or to move to a wonderfdull new area £100k cheaper than the same size in lonon, probably be in debt for a long time but be safer, more settled and relaxed knowing my 10 year old wont be growing up with gangs on our front door step smoking weed and carrying knives!!!!!!!!!!
I am in no way concerned and cannot understand why so many people on this site call us new buyers fools and idiots.