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1st forum post. first time buyer queries

135

Comments

  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    I think squatnow means that if you hang on 6 months the price will have dropped further.

    You have added more info now re the house being empty a year and owned by a builder which puts a different complexion on the matter - also that there are a number of houses not sold in the same estate probably due to worries concerning flooding. Hmm,
  • SquatNow
    SquatNow Posts: 2,285 Forumite
    bubblesmoney wrote: »
    :beer: if i knew how to increase 90k into 125k in 6months, then i would have retired by now rather than slog weekends etc and rarely go on outings or wouldnt have lived in 1 bedroom totally unfurnished rented house for few years, scrimping and saving money for buying a house.

    but am still game to explore all legal options that suit not gifted people like me to multiply my money with reasonable risk.:A

    You dont have to.... well maybe not over 6 months but after 6 months you'de know how fast prices were dropping... roughly a 20% drop in house prices, plus 5% interest on your savings... would let you buy outright after about...errr 14-15 months? (Calculator anyone, I'm too lazy!)

    Remember: Prices have dropped aound 7.5% since their peak last August and the drops are accelerating!
    Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    edited 30 April 2009 at 3:15AM
    edited by me to remove personal details. apologies for any inconvenience caused.
    bubblesmoney :hello:
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    Thing is Bubbles, reading through the posting re the neighbouring houses, is it going to be such a bargain if others on the development are having problems selling?
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    edited 30 April 2009 at 3:15AM
    edited by me to remove personal details. apologies for any inconvenience caused.
    bubblesmoney :hello:
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    edited 30 April 2009 at 3:16AM
    .
    edited by me to remove personal details. apologies for any inconvenience caused.
    bubblesmoney :hello:
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    I think you will find that the estate agent will enquire who is buying and will then jump on the fact they have been instrumental in the sale by showing you round twice.
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    edited 30 April 2009 at 3:16AM
    edited by me to remove personal details. apologies for any inconvenience caused.
    bubblesmoney :hello:
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    edited 30 April 2009 at 3:16AM
    edited by me to remove personal details. apologies for any inconvenience caused.
    .
    bubblesmoney :hello:
  • carolt
    carolt Posts: 8,531 Forumite
    Excellent, bubblesmoney, lovely to see the shoe on the other foot. You seem very businesslike - and your experience the absolute definition of a buyers' market! :D

    You clearly know how to play it well, esp. for a fellow FTB - best of luck, and do keep us posted as I'm finding your tales of tough negotiating with supine EA's and desperate sellers most entertaining. Should be required reading for any FTB's who've forgotten the ball's in their court now...

    Only back to 2003 prices? Maybe you want to wait a bit longer? ;)
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